Mishra Dhatu Nigam Limited
₹360.75-₹17.80 (-4.7%)
Last close · Data as of Oct 30, 2026
- Market cap
- ₹6,393 Cr
- P/E
- 59.8x
- EV / EBITDA
- 28.8x
- Revenue
- ₹1,074 Cr
- Net margin
- 8.5%
- ROCE
- 11.1%
Price chart
Technical chartScreen technicals →-6.1% over the last year
Daily closes.
Go deeper
Technical chart: candles, 9 moving averages, RSI, MACD and drawing tools
Performance
Price change over each period, before dividends.
- 1M
- -17.8%
- 3M
- -7.3%
- 6M
- -7.5%
- 1Y
- -6.1%
- 5Y
- +80.7%
52-week range
Day change -₹17.80 (-4.7%) from ₹379 to ₹361 · Last close Oct 30, 2026
Best weekday to invest, historically
The same weekly amount in MIDHANI, bought on each weekday since 2021.
AI Summary
Indian StockStrengths1
- Maintains healthy dividend payout of 29.0%
Concerns1
- Low return on equity of 6.9%
Rule-based from financial data. Not advice.
About the company
Mishra Dhatu Nigam Limited manufactures and sells super alloys, titanium, special purpose steel, and other special metals in India and internationally. The company provides special steels, including martensitic, special, austenitic, and precipitation hardening steels for use in aerospace, power generation, nuclear, defence, cryogenic, and other general engineering industries.
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Mishra Dhatu Nigam Limited manufactures and sells super alloys, titanium, special purpose steel, and other special metals in India and internationally. The company provides special steels, including martensitic, special, austenitic, and precipitation hardening steels for use in aerospace, power generation, nuclear, defence, cryogenic, and other general engineering industries. It also offers nickel, cobalt, and iron-based superalloys; titanium and titanium alloys, soft magnetic, controlled expansion alloys; investment castings products; bars, bright bars, and wires/fine wires; and hot and cold rolled sheets, and strips, as well as open die forging products. In addition, the company offers welding consumables, fasteners, biomedical implants, and armour products. Mishra Dhatu Nigam Limited was incorporated in 1973 and is based in Hyderabad, India.
- Sector
- Industrials
- Shares outstanding
- 18.7 Cr shares
- ISIN
- INE099Z01011
- BSE code
- 541195
Key statistics
Screen fundamentals →Valuation, profitability, growth and solvency at the latest close; hover a label for its meaning.
Valuation
- Market cap
- ₹6,393 Cr
- P/E
- 59.8x
- P/B
- 4.4x
- EV / EBITDA
- 28.8x
- EV / Sales
- 6.0x
- P/S
- 6.0x
- Earnings yield
- 1.7%
- 52-week high
- ₹476.50
- 52-week low
- ₹270.95
Profitability
- Operating margin
- 18.2%
- Net margin
- 8.5%
- EBITDA margin
- 21.0%
- ROE
- 6.9%
- ROCE
- 11.1%
- ROA
- 3.1%
- Dividend payout
- 29.0%
- Tax rate
- 30.0%
- Other income, % of PBT
- 22.9%
Growth
- RevenueLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- ₹1,074 Cr
- Revenue growth, 1YLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- 0.1%
- Revenue CAGR, 5YLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- 8.5%
- EBITDALatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- ₹225 Cr
- EBITDA growth, 1YLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- -24.2%
- Net profit growth, 1YLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- 20.9%
- Net profit CAGR, 5YLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- -10.7%
- Cash from operationsLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- ₹216 Cr
- CFO growth, 1YLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- -717.1%
- Free cash flowLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- -₹6.00 Cr
- Asset growth, 1YLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- 1.5%
Solvency and efficiency
- Current ratio
- 1.55
- Debt / Equity
- 0.33
- Debt / Assets
- 0.15
- Debt / EBITDA
- 1.92
- Interest coverage
- 5.57
- Financial leverage
- 2.20
- CFO / Net profit
- 2.37
- Cash / Market cap
- 27.7%
- Cash per share
- ₹94.36
- Asset turnover
- 0.37
- Fixed asset turnover
- 1.04
- Capital intensity
- 0.96
- Debtor days
- 110 days
- Cash conversion cycle
- 110 days
Where the revenue went
Some FY2025 lines are not reported, so the ones that are appear as a table.
| Line | FY2025 |
|---|---|
| Sales | ₹1,074 Cr |
| Expenses | ₹855 Cr |
| Operating profit | ₹219 Cr |
| Other income | ₹31 Cr |
| Interest | ₹30 Cr |
| Depreciation | ₹63 Cr |
| Profit before tax | ₹156 Cr |
| Tax and other | ₹46 Cr |
| Net profit | ₹110 Cr |
Revenue and net profit
Revenue grew 0.1% in FY2025; net profit is the dashed line.
| Date | Revenue | Net profit |
|---|---|---|
| FY2021 | ₹813 Cr | ₹166 Cr |
| FY2022 | ₹859 Cr | ₹176 Cr |
| FY2023 | ₹872 Cr | ₹156 Cr |
| FY2024 | ₹1,073 Cr | ₹91 Cr |
| FY2025 | ₹1,074 Cr | ₹110 Cr |
Cash flows
FY2025: ₹217 Cr from operations, ₹121 Cr free after investment (dashed).
| Date | Operating cash flow | Free cash flow |
|---|---|---|
| FY2021 | ₹176 Cr | ₹61 Cr |
| FY2022 | ₹5 Cr | -₹63 Cr |
| FY2023 | -₹35 Cr | -₹38 Cr |
| FY2024 | ₹216 Cr | ₹151 Cr |
| FY2025 | ₹217 Cr | ₹121 Cr |
Growth
Latest fiscal year FY2025 (ending March): each figure with its change over the year before.
- Revenue
- ₹1,074 Cr+0.1%1Y
- Net profit
- ₹110 Cr+20.9%1Y
- Cash from operations
- ₹217 Cr
- Free cash flow
- ₹121 Cr-19.9%1Y
- Revenue CAGR, 5Y
- 8.5%
- EBITDA CAGR, 5Y
- -0.9%
- Net profit CAGR, 5Y
- -10.7%
| Year | Revenue | Operating income | EBITDA | Net profit | CFO | FCF | ROE | Revenue growth 1Y | Net profit growth 1Y |
|---|---|---|---|---|---|---|---|---|---|
| FY2025 | ₹1,074 Cr | ₹219 Cr | — | ₹110 Cr | ₹217 Cr | ₹121 Cr | 7.8% | +0.1% | +20.9% |
Monthly returns
Month-by-month returns of MIDHANI across the years, with the seasonal pattern.
Balance sheet
What the company owns and owes at the end of FY2025.
| Line | FY2025 |
|---|---|
| Liabilities and equity | ₹2,914 Cr |
| Equity capital | ₹187 Cr |
| Reserves | ₹1,227 Cr |
| Borrowings | ₹350 Cr |
| Other liabilities | ₹1,150 Cr |
| Assets | ₹2,914 Cr |
| Fixed assets | ₹1,074 Cr |
| Capital work in progress | ₹25 Cr |
| Investments | ₹25 Cr |
| Other assets | ₹1,790 Cr |
Market cap against peers
8 peers: same sector group, nearest by size.
P/E against peers
MIDHANI trades at 59.8x earnings against a peer median of 38.3x (a 56% premium).
Peer comparison
Same-sector peers by market cap, with the median.
| Company | Market cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|
| Mishra Dhatu Nigam LimitedMIDHANIthis companyP/E ↑ premium | ₹6,393 Cr | 59.8x | 4.4x | 6.9% | 28.8x |
| Fujiyama Power Systems LimitedUTLSOLAR | ₹6,662 Cr | 35.6x | — | 18.8% | 66.7x |
| AJAX Engineering LimitedAJAXENGG | ₹6,581 Cr | 26.2x | 5.3x | 24.5% | 20.7x |
| EPL LIMITEDEPL | ₹6,577 Cr | 28.2x | 6.1x | 18.6% | 20.5x |
| Suprajit Engineering Ltd.SUPRAJIT | ₹6,296 Cr | 24.9x | 4.5x | 18.1% | 18.5x |
| Atlanta Electricals LimitedATLANTAELE | ₹6,283 Cr | 51.5x | 8.0x | 27.3% | 50.7x |
| Welspun Enterprises LimitedWELCORP | ₹6,264 Cr | 20.0x | 2.2x | 11.8% | 13.7x |
| SML Mahindra LimitedSMLMAH | ₹6,140 Cr | 43.4x | 13.8x | 37.9% | 34.7x |
| Ahluwalia Contracts (India) LtdAHLUCONT | ₹6,018 Cr | 22.9x | 3.1x | 23.5% | 8.9x |
| Peer median | — | 38.3x | 5.2x | 15.2% | 25.8x |
Year-to-date ROI
MIDHANI since 1 January, against earlier years.
Historical volatility
MIDHANI's day-to-day swings over 30, 60 and 180 days.
Financial statements
Income statement, balance sheet and cash flow as reported, in ₹ crore, grouped into plain-language lines.
Figures in ₹ crore as reported, fiscal years ending March, newest first; the trailing twelve months (TTM) last.
Operating margin by fiscal year
| Date | Operating margin |
|---|---|
| FY2021 | 30.0% |
| FY2022 | 31.0% |
| FY2023 | 30.0% |
| FY2024 | 18.0% |
| FY2025 | 20.0% |
| Line | FY2025 |
|---|---|
| RevenueSales | ₹1,074 Cr |
| Costs | |
| Interest | ₹30 Cr |
| Expenses | ₹855 Cr |
| Operating profitOperating Profit | ₹219 Cr |
| Other income and charges | |
| Profit before tax | ₹156 Cr |
| Tax | |
| Net profitNet Profit | ₹110 Cr |
| Per share |
| Line | FY2025 |
|---|---|
| Liabilities and equityTotal Liabilities | ₹2,914 Cr |
| Equity capitalEquity Capital | ₹187 Cr |
| Reserves | ₹1,227 Cr |
| Borrowings | ₹350 Cr |
| Other liabilitiesOther Liabilities | ₹1,150 Cr |
| AssetsTotal Assets | ₹2,914 Cr |
| Fixed assetsFixed Assets | ₹1,074 Cr |
| Capital work in progressCWIP | ₹25 Cr |
| Investments | ₹25 Cr |
| Other assetsOther Assets | ₹1,790 Cr |
| Line | FY2025 |
|---|---|
| Operating cash flowCash from Operating Activity | ₹217 Cr |
| Investing cash flowCash from Investing Activity | -₹96 Cr |
| Financing cash flowCash from Financing Activity | -₹126 Cr |
| Change in cashNet Cash Flow | -₹6 Cr |
Learn while you research
Academy chapters picked for Mishra Dhatu Nigam Limited and the metrics on this page.
- 01 Taxes on Investments (India)LTCG, STCG, dividend tax, what every Indian investor needs.6 min read
- 02 Stock Valuation BasicsHow to think about what a fair price for a stock looks like.7 min read
- 03 Valuation Multiples ExplainedThis stock trades at a P/E of 59.8, learn when high multiples are justified.6 min read
- 04 Stock Market RisksSmall caps carry concentrated, idiosyncratic risk, learn to manage it.6 min read
- 05 Business Cycles & StocksThese cyclical sectors win and lose in different macro phases.6 min read
- 06 Essential Stock RatiosP/E, P/B, EV/EBITDA, what they mean and when to use each.7 min read