MIDHANI posts revenue growth of above 6% in FY 2018-19

Mumbai: Mishra Dhatu Nigam (MIDHANI), an alloy maker PSU, has recorded a turnover of over Rs. 701.50 Cr. (provisional and unaudited) for the financial year ended on March 31, 2019. PSU had launched its IPO in March 2018 has gained around 54% in this financial year. Given the corresponding figure for the previous year was Rs 661.69 Cr, the company has posted revenue growth of more than 6% during FY 2018-19. MIDHANI has also recorded its best-ever Value of Production (VoP) of Rs 800 Cr (Provisional and unaudited) which is a growth of more than 14% over FY 2017-18 (Rs 679 Cr).

Highest expenditure on R&D and CSR

MIDHANI‘s unaudited provisional figures for FY 2018-19 indicate that the expenditure towards R&D and CSR activities are highest ever incurred by the PSU in any financial year. As the performance for the FY 2018 19 is consolidated, online stock market expert ‘Equity Bulls’ believe the PSU to achieve “Excellent” ruling against the “Very Good” rating secured for the FY 2017-18.

‘Bright year ahead’

MIDHANI has started FY 2019-20 with a healthy order book of Rs 1657 Cr. as on 1st April 2019 as against Rs 520 Cr as on 1st April 2018 for the corresponding period of the previous year (FY 2018-19). Shares of Mishra Dhatu Nigam Ltd was last trading in BSE at Rs 143 as compared to the previous close of Rs 141.05. The total number of shares traded during the day, on April 2, was 23423 in over 540 trades.