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Midhani  registers good growth

Midhani 

Mishra Dhatu Nigam Limited (MIDHANI) a Hyderabad based Defence Public sector enterprisehas achieved Best Ever VoP of ₹ 970.11 Crores for the year ended FY 2019-20 registering a growth of 19.06% over the VoP of ₹ 814.83 Crores achieved last year.

CoVID-19 lockdown has affected the final testing, certification and shipment of material in the month of March 2020. Despite this, company has sustained sales turnover of ₹ 712.88 Crores for the FY 2019-20 registering a growth of 0.29% vis-à-vis ₹ 710.85 crores during the previous year.The operating profit stood at ₹ 165.65 Crores for the year ended FY 2019-20.

The Profit Before Tax (PBT) of ₹ 202.09 Crores for the year ended FY 2019-20 registering a growth of 5.78% over the PBT of ₹ 191.05 crores achieved last year. The Profit After Tax (PAT) of ₹ 159.73 Crores for the year ended FY 2019-20 registering a growth of 22.34% over the PAT of ₹ 130.56 Crores achieved last year. The increase in PAT is due to implementation of new corporate tax rates.

Due to CoVID-19 pandemic, sales during the march 2020 got affected which resulted a dip in the 4th Quarter turnover of ₹ 203.63 Crores as against a net turnover of ₹ 336.43 Crores for the corresponding period of the previous year.The Profit Before Tax of ₹ 55.70 Crores for the Quarter was commensurate with the Turnover achieved during the quarter.The Profit After Tax of ₹ 40.39 Crores for the Quarter was commensurate with the Turnover achieved during the quarter.The order book position as on 01-04-2020 stood at ₹ 1687 Crores.

During the F.Y. 2019-20, the company paid an interim dividend of ₹ 1.00 per equity share and further proposes to pay another ₹ 1.56 per equity share as final dividend for 2019-20. This works out to 30% of PAT which is the highest dividend being paid by the company.

MIDHANI is a Strategic Material Partner to Defence, Space & Energy sector. It specializes in high-end materials with unique focus on critical materials like Superalloy, Titanium Alloys and Special Steels.  

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