MIDHANI

Mishra Dhatu Nigam Ltd (MIDHANI) has reported a strong Q1 FY27

Mishra Dhatu Nigam Ltd (MIDHANI) has reported a strong Q1 FY27 performance with revenue up 40% year-on-year to ₹239.49 crore and net profit rising 27% to ₹16.31 crore, supported by a robust ₹2,329 crore order book and growing defence-sector demand. The stock remains a key beneficiary of India’s ₹1.25 lakh crore defence procurement push. 📊 Financial Highlights (Q1 FY27) Metric Q1 FY27 Q1 FY26 YoY Change Revenue from Operations ₹239.49 crore ₹170.50 crore +40.46% Total Income ₹249.47 crore ₹177.61 crore +40.46% Profit Before Tax ₹23.92 crore ₹19.00 crore +25.89% Profit After Tax (PAT) ₹16.31 crore ₹12.80 crore +27.42% EPS ₹0.87 ₹0.68 +27.94% Order Book (as of July 1, 2026) ₹2,329 crore — — EBITDA rose 12.9% to ₹46.6 crore, and production value increased to ₹260.36 crore. The company’s total debt stood at ₹209 crore with no defaults reported. 🏭 Strategic & Operational Developments Titanium Alloy Expansion: MIDHANI produced ~700 tonnes of titanium in FY26—nearly double the previous year—and expects ₹1,500 crore of new titanium orders in FY27. Capex Plan: ₹1,000 crore investment over three years to expand defence and aerospace material capacity. New Facilities: Aerospace Fasteners plant inaugurated in May 2026; AI workshop and ultrasonic testing certification launched in July 2026. Indigenous Milestones: Achieved CEMILAC certification for aero-engine materials and signed a PLI MoU with the Ministry of Steel for specialty steel manufacturing. 🛡️ Defence Sector Context India’s Delegation of Financial Powers to Defence Services (DFPDS-2026) enables over ₹1.25 lakh crore of defence procurement through the revenue route, boosting indigenous suppliers like MIDHANI. MIDHANI’s titanium-alloy monopoly positions it to benefit from this surge in domestic defence spending.