Rs 1,622.50 crore order book: This multibagger aerospace & defence company announces stellar quarterly results (Q1FY24)!
The stock gave multibagger returns of 107 per cent in just 1 year whereas BSE Sensex Index is up by 11.40 per cent.
Mishra Dhatu Nigam Ltd (MIDHANI), a leading PSU aerospace & defence company, announced its Quarterly Results ended June 30, 2023. Details below:
Consolidated Quarterly Updates: The net sales increased by 63.34 per cent to Rs 181.72 crore, the operating profit increased by 22.63 per cent to Rs 49.56 crore and net profit increased by 4.76 per cent to Rs 18.54 crore in Q1FY24 compared to Q1FY23.
Order Received & Order Book Updates: Mishra Dhatu Nigam Limited (MIDHANI) has secured an order worth Rs 178.54 crore. With this, the order booking position for FY 2023-24 (as of date) is Rs 542 crore. The open order position of MIDHANI as of date is Rs 1622.50 crore.
Earlier, MIDHANI played a vital role in the successful launch of the Chandrayaan-3 Mission. MIDHANI developed and supplied critical materials for the LVM3 M4, a three-stage heavy lift launch vehicle used in the lunar mission.
Mishra Dhatu Nigam Ltd (MIDHANI) manufactures superalloys, titanium, special-purpose steel and other special metals. The company has been maintaining a healthy dividend payout of 34.80 per cent.
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On Wednesday, shares of the company plunged 7.17 per cent to Rs 346.45 per share with the day’s high of Rs 363.95 and the day’s low of Rs 343.95. The shares of the company saw a spurt in volume by more than 1.01 times on BSE.
The stock gave multibagger returns of 107 per cent in just 1 year whereas BSE Sensex Index is up by 11.40 per cent. Investors should keep an eye on this aerospace & defence stock.
Disclaimer: The article is for informational purposes only and not investment advice.