MIDHANI achieves highest-ever VOP in FY20

Mishra Dhatu Nigam Limited (MIDHANI) has recorded the highest-ever value of production worth Rs 985 crore for FY20, showing YoY growth of 21 per cent. The company has reported value of production worth Rs 814.83 crore in FY19.

In the month of March 2020, COVID-19 lockdown has affected the final testing, certification and shipment of materials. In spite of this, MIDHANI has sustained sales turnover of Rs 711.37 crore (provisional) for FY20 as compared to Rs 710.85 crore for FY19.

On order book front, the export order book stood at Rs 73.73 crore and has achieved the highest-ever export sales of Rs 13.28 crore.

On the capex front, the company has incurred the highest-ever capital expenditure in FY20, amounting to Rs 230 crore. Also, more than 10 new products have been developed for aero space, navy and energy sectors.

During FY20, the company has focussed more on cost optimisation measures including indigenisation of various components, increasing outsourcing efforts and rationalisation of manpower.

Mishra Dhatu Nigam Limited is a specialised metals and metal alloys manufacturing company in India, located in Hyderabad (Telangana). It is a public sector undertaking (PSU), under the administrative control of Department of Defence Production, Ministry of Defence, Government of India.