FIIs Increase Stake for 3 Consecutive Quarters: Small-Cap PSU Defence Stock Rallies Over 5 Per cent Today, Reports 71 Per cent YoY Profit Growth!

This Small-Cap aerospace and defence company that manufactures superalloys, titanium, special-purpose steel, and other special metals announces Quarterly Results, in this article we are going to explore its financial results.

Financial Performance

As per quarterly results Mishra Dhatu Nigam Ltd popularly known as MIDHANI in Sep 2024 reported a revenue of Rs 262 crore compared to Rs 227 crore representing a growth of around 15.22 per cent YoY. The company posted an operating profit of Rs 49 crore with a margin of around 19 per cent compared to Rs 36 crore with a margin of 16 per cent. The company’s net profit stood at Rs 24 crore for the period compared to a profit of Rs 14 crore same quarter last year.

Looking at the annual performance, the company generated a revenue of Rs 1073 crore in FY24 compared to Rs 872 crore in FY23 representing a growth of 23 per cent YoY. The operating profit for FY24 was Rs 195 crore compared to Rs 259 crore in FY23. The company reported a net profit of Rs 91 crore compared to Rs 156 crore.

Share Performance

Today, the shares of Mishra Dhatu Nigam Ltd rallied over 5 per cent and closed at around Rs 322.25 per share on the BSE. The company’s current market capitalization stands at Rs 6,037 crore. Additionally, the shares have delivered a negative return in the past year.

Shareholding Pattern

According to the shareholding pattern of the company, the promoters hold a significant 74 per cent stake. Public investors own 16.13 per cent of the shares, while Foreign Institutional Investors (FIIs) hold 1.42 per cent which was earlier 1.27 per cent and Domestic Institutional Investors (DIIs) own 8.44 per cent.

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Investors must keep this defence stock on their radar.

Disclaimer: The article is for informational purposes only and not investment advice.