MIDHANI- Sound Financial Profile, Negligible Debt, Attractive Return Ratio: HDFC Securities Initiates Coverage
MIDHANI has established market position in manufacturing of super alloys with better operating efficiency
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Mishra Dhatu Nigam Ltd. is under the administrative control of the Ministry of Defence's Department of Defence Production. The company manufactures a variety of super alloys, titanium and titanium alloys, special-purpose steels, controlled-expansion alloys, soft magnetic alloys, electrical-resistance alloys, molybdenum products, and other special products made as per customer specifications.
The company also offers metallurgical testing, evaluation and consultancy services.
Besides, Utkarsha Aluminium Dhatu Nigam Ltd. is a 50:50 joint venture promoted by MIDHANI and National Aluminium Company Ltd, to set up a 60,000 tons per annum high-end aluminium alloy production plant in the Nellore district of Andhra Pradesh.
With the advancement in technology, materials such as super alloys, titanium alloys and special steels, which are the core products of MIDHANI and its applications as well, have witnessed incremental demand.
Increased demand for these products from space and energy sector have resulted in increase of production over the years.
Apart from this, the Government of India is promoting domestic manufacturing and export of defence and aerospace products; this could bring huge opportunity to domestic alloys and titanium manufacturers like MIDHANI.
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