This PSU metal stock jumped 5 per cent on Friday, hitting a new 52-week high
In barely three months, Mishra Dhatu Nigam shares returned close to 50 per cent.
The stock started the trading day at Rs 230 and closed at Rs 247, which is its new 52-week high. The share price rose by over 5 per cent on the day. There was a 3.53-fold rise in the volume of shares traded on BSE yesterday. Since the first of July, stockholders of the company have seen a return of about 50 per cent. The current price-to-earnings ratio for the stock is 24.54. The return on equity is 14.71 per cent, and the return on capital employed is 19.4 per cent.
Mishra Dhatu Nigam Ltd or MIDHANI for short is a manufacturer of speciality metals such as superalloys, titanium, special purpose steel, and more.
In 1973, it opened its doors in Hyderabad as a government-owned enterprise run by India's Ministry of Defense. Following its first public offering in 2018, the Indian government has retained roughly 74 per cent of the company.
Ultra high strength steel, armour grade plates, martensitic steel, austenitic steel, and precipitation hardening steel are just a few examples of the high-value special steels in the company's product portfolio. The company also offers a wide variety of superalloys (nickel base, iron base, and cobalt base) and titanium alloys. They are the only manufacturer of titanium alloys in India.
All of the company's raw materials and finished goods are functionally similar to imported goods that were previously difficult to come by in the country.
The major goal of the organisation is to meet the needs of critical businesses in India, such as the Aeronautics, Defense, Space, and Nuclear Energy sectors, for the necessary materials and alloys.
During the period ending in June, revenue was Rs 115 crore, with an operating margin of 28.7 per cent. With a net profit of 18 crore rupees, the company closed the year on a strong note. The average number of days it takes a company to collect payment is 147. The government agency was able to generate Rs 52 crores in cash thanks to its operations. A year before, the firm's operating margin was 31.4 per cent.