Mishra Dhatu Nigam Limited (MIDHANI), a leading manufacturer of special steels, super alloys, and titanium alloys, has reported a robust performance for the first quarter of fiscal year 2026, with significant improvements across key financial metrics.

Strong Financial Performance

The company's turnover for Q1 FY2026 reached Rs 170.50 crores, marking a 4.31% growth compared to Rs 163.45 crores in the same quarter last year. MIDHANI's value of production stood at Rs 241.29 crores, reflecting a healthy growth of 14.47% over the previous year's Rs 210.79 crores.

Profitability saw substantial improvements:

• EBITDA grew by 32.86% to Rs 41.28 crores
• Profit before tax surged by 112.50% to Rs 19.00 crores
• Profit after tax jumped by 150.49% to Rs 12.80 crores

The company's EBITDA margin for Q1 stood at an impressive 24.22%, and management expects to maintain EBITDA margins between 23-25% for the fiscal year.

Robust Order Book and Revenue Outlook

MIDHANI's order book position remains strong at Rs 1,827.00 crores as of July 1, 2025. The company expects additional orders worth Rs 701.00 crores in Q2, further strengthening its position.

Dr. S.V.S. Narayana Murty, Chairman and Managing Director of MIDHANI, stated, "We are targeting revenue of Rs 1,300-1,500 crores for the fiscal year 2026. With our current order book and expected new orders, we are confident of achieving our goals."

Sector-wise Order Composition

The company's order book comprises:

Approximately 80% of the order book is related to defense projects, while the remaining 20% comes from space, energy, and other sectors, including exports.

Strategic Focus and Future Outlook

MIDHANI is actively working on expanding its product portfolio and improving its manufacturing capabilities. The company is establishing powder manufacturing facilities for additive manufacturing applications, which is expected to cater to the growing demand for strategic alloy powders in the country.

Dr. Murty emphasized the company's long-term vision, stating, "We are expecting to reach a turnover of around Rs 2,000 crores in about five years, from the current level of approximately Rs 1,100 crores."

Challenges and Opportunities

While MIDHANI faces challenges in the global supply chain, particularly for imported raw materials, the company is exploring ways to develop domestic sources for some of these materials. The management highlighted that about 75-80% of their raw materials are currently imported.

Despite these challenges, MIDHANI sees significant opportunities in the strategic materials sector. The company is well-positioned to benefit from India's push towards self-reliance in defense and aerospace sectors.

As Mishra Dhatu Nigam continues to strengthen its role in strategic sectors and expand its capabilities, it remains committed to supporting the nation's strategic needs while enhancing shareholder value.

Mishra Dhatu Nigam Limited (MIDHANI), a Government of India Enterprise, has announced a significant change in its top leadership. Ms. Madhubala Kalluri has been appointed as the new Director of Finance, effective July 21, 2025, following an order from the Department of Defence Production, Ministry of Defence.

Key Appointment Details

• Appointee: Ms. Madhubala Kalluri (DIN: 11202794)
• Position: Director of Finance
• Effective Date: July 21, 2025
• Tenure: Until August 31, 2027 (superannuation date) or until further orders from the Ministry of Defence
• Pay Scale: Rs. 1,60,000 - 2,90,000 (IDA)

Professional Background

Ms. Kalluri brings a wealth of experience to her new role:

• Over 32 years of service at MIDHANI
• Previously served as General Manager (Finance)
• Joined MIDHANI as an Accounts Officer in 1993
• Briefly served as Chief Financial Officer (CFO) from May 31, 2020, to October 26, 2020

Educational Qualifications

• Postgraduate degree in Commerce from Andhra University
• Fellow Member of The Institute of Cost Accountants of India

Career Highlights

Throughout her career at MIDHANI, Ms. Kalluri has contributed significantly in various capacities, with extensive experience in:

• Accounting
• Costing
• Financial Management
• Budgeting
• Projects
• Taxation
• Audit

She has played a crucial role in formulating company policies and procedures and was a member of MIDHANI's Board level Risk Management Committee.

Transition of Responsibilities

Ms. Kalluri's appointment concludes the additional charge held by Dr. S. V. S. Narayana Murty, who was temporarily handling the Director (Finance) role. The company has confirmed that Ms. Kalluri is not debarred from holding office by any SEBI order or other authority and is not disqualified from holding the position of Director under Section 164 of the Companies Act, 2013.

This strategic appointment is expected to contribute to MIDHANI's financial leadership as the company continues its operations in the defense and aerospace sectors.