In just three months, shares of Mishra Dhatu Nigam have returned almost fifty percent.
The stock started the trading day at Rs 230 and closed at Rs 247, a new 52-week high. The stock price rose more than 5% yesterday. Currently, the company in the stock market is around Rs. 4517 crores. The volume of shares traded on the BSE was multiplied by 3.53 today. Since July 1, the company’s shareholders have seen a return of about 50%. The stock’s current price/earnings ratio is 24.54. The return on equity is 14.71% and the return on capital employed is 19.4%.
Mishra Dhatu Nigam Ltd., or MIDHANI for short, is a manufacturer of specialty metals such as superalloys, titanium, special purpose steel, etc.
In 1973, it opened in Hyderabad as a state-owned company run by the Indian Ministry of Defence. After its first public offering in 2018, the Indian government retained about 74% of the company.
Ultra-high-strength steel, armor plate, martensitic steel, austenitic steel and precipitation hardening steel are just a few examples of the high-value specialty steels in the company’s product portfolio. The company also offers a wide variety of superalloys (nickel base, iron base and cobalt base) and titanium alloys. They are the only titanium alloy manufacturer in India.
All raw materials and finished products of the company are functionally similar to imported products which were previously difficult to find in the country.
The main objective of the organization is to meet the needs of critical companies in India, such as the aeronautics, defence, space and nuclear power sectors, for the necessary materials and alloys.
In the period to June, revenue was Rs 115 crore, with an operating margin of 28.7%. With a net profit of Rs 18 crore, the company ended the year on a high note. The average number of days it takes for a business to collect payment is 147. The government agency was able to generate Rs 52 crores in cash through its operations. A year ago, the company’s operating margin was 31.4%.