MIDHANI Q4FY18 profit jumps by 72 per cent

Mishra Dhatu Nigam (MIDHANI) reported its results for the quarter ended March 31, 2018. The company’s standalone revenue for the quarter came in at Rs. 310.88 crore, registering 9.7 per cent yoy increase. This moderate growth is due to delay in order receipt and major revamping/modification of 1500T forge press.


EBITDA for the quarter rose by 60.9 per cent yoy to Rs. 115.41 crore with a corresponding margin expansion of 1182 bps. EBITDA margin for the quarter stood at 37.1 per cent. The PAT for the quarter came in at Rs. 77.485 crore, yoy increase of 72 per cent.


Looking at the full year numbers, we see that revenue slid by 18 per cent to reach Rs. 666.08 crore while EBITDA rose by 3 per cent to Rs. 190.87 crore. The company reported net profit of Rs. 13.13 crore, up 4 per cent yoy.


The order book position as on April 1, 2018 stood at Rs. 569 crores. With this order book and the new order prospects in pipeline, the company has planned for a good growth with commensurate profitability in the year to come.


Mishra Dhatu Nigam is one of the leading manufacturers of special steels, superalloys and only manufacturer of titanium alloys in India. Midhani is the only company in India to carry out vacuum-based melting and refining through a world class vacuum melting furnace.


The company's board of directors has recommended a final dividend of Rs. 2.10 per equity share of the face value of Rs. 10 each.