MIDHANI registers 48% growth in Q2 FY2019-20

MIDHANI achieved a net turnover of Rs 170.21 crore during Q2 of FY 2019-20, registering a growth of about 48 percent year-on-year

New Delhi: Stabilisation of 1500T forge press and other recent capital investments coupled with a healthy order booking, particularly from space sector, has enabled the Miniratna Defence PSU Mishra Dhatu Nigam Limited (MIDHANI) to achieve a net turnover of Rs 170.21 crore during Q2 of FY 2019-20 registering a growth of about 48 percent year-on-year. The figure was at Rs 115.17 crore during the corresponding period of the previous year.

MIDHANI, an alloy maker PSU, had recorded a turnover of over Rs 701.50 crore (provisional and unaudited) for the financial year ended on March 31.

MIDHANI's PBT and PAT in Q2

Profit before Tax (PBT) of MIDHANI during the Q2 of FY 2019-20 stood at Rs 51.98 crore, registering a growth of about 62 percent over the Profit before Tax (PBT) of Rs 32.11 crore recorded in the corresponding period of the previous year.

Profit After Tax (PAT) during the 2nd quarter of FY 2019-20 stood at Rs.35.85 Cr, registering a growth of about 75% over the Profit After Tax (PAT) of Rs.20.54 Cr recorded in the corresponding period of the previous year.

Performance in H1 FY2019-20

The company has achieved a net turnover of Rs 302.36 crore during the first half of FY 2019-20, registering a growth of 37 percent over the net turnover of Rs 221.18 crore recorded in the corresponding period of the previous year.

Profit before Tax (PBT) during the first half of FY 2019-20 stood at Rs 87.94 crore, registering a growth of about 65 percent over the Profit before Tax (PBT) of Rs 53.30 crore recorded in the corresponding period of the previous year.
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Profit after Tax (PAT) during the first half of FY 2019-20 stood at Rs 58.85 crore, registering a growth of about 76 percent over the Profit after Tax (PAT) of Rs 33.36 crore recorded in the corresponding period of the previous year.

The order book of the company, as on October 1, stood at Rs 1,776 crores.