MIDHANICapital Goods

Mishra Dhatu Nigam Limited

Aerospace & Defense · ISIN INE099Z01011 · BSE 541195 · NSE EQ · FV ₹10
Last price
₹408
+2.15%today
What this company does

Mishra Dhatu Nigam Limited operates in Aerospace & Defense, part of the Capital Goods sector. It booked ₹239 cr of revenue in its latest quarter (Q1 FY27) and kept 6.9% of sales as profit.

Strengthening the nation’s security We were established in 1973 as a Government of India Undertaking under the administrative control of the Ministry of Defence. As a metallurgical Company, we are committed to serving the nation’s critical sectors, including Defence, Space, Aeronautics and Energy, with high-performance alloys and advanced materials.
In the report:
41out of 100
Equitytale Health Score
Strained

Healthier than 41% of companies in Capital Goods, on all six measures of filed financials. Each measure is ranked against the 77–113 companies that reported it.

Measures financial condition, not whether to buy. Learn what this score means · How this is calculated

Price momentum
neutral
RSI (14)
44

At close. Not part of the score.

Profitability & returns16

How much profit it earns on the money it employs

Balance sheet38

How much it owes, and whether earnings cover the interest

Cash quality62

Whether reported profit actually arrives as cash

Growth & consistency39

Whether sales and profit have grown, and how steadily

Valuation32

What today's price implies, against our models or its peers

Governance & risk100

How much of the promoters' stake is pledged, and how much they hold · highest in its sector on what we could measure

Is this company doing well?
not investment advice
Strengths
Makes a profit
Sales up 40% vs last year
Profit up 27% vs last year
Promoters hold 74%
No promoter shares pledged
Turns profit into real cash
Watch-outs
! Thin 6.9% net margin
! Low 4.3% return on equity

What if I invest in MIDHANI?

Set a growth rate and see what a monthly SIP would add up to. Your assumption, our arithmetic.

You would put in
₹12.00 lakh
120 instalments
At 0% a year, it would become
₹12.00 lakh

The slider starts at 0%, taken from this company's own free-cash-flow trend. That is history, not a forecast — this is your assumption, and the figure above is arithmetic on it. Returns are not steady year to year, and a real holding would not grow in a straight line. We do not publish price targets or predict returns.

Key ratios · latest quarter + price
₹408 +2.15%
latest close · 2026-09-17
1-year return
+123.1%
52-wk low ₹15652-wk high ₹482
Is it cheap or expensive?
What you pay for the profits, book value and cash flow. Higher isn't automatically worse — it can signal faster growth.
P/E ratio115.9High
LowAverageHigh
P/B ratio4.99High
Below bookModerateHigh
EV / EBITDA41.5High
LowAverageHigh
How good is the business?
How much profit it earns from its money and its sales.
Return on equity4.3%Weak
WeakFairStrong ▸15%
Return on capital5.0%Weak
WeakFairStrong
Net margin6.9%Decent
ThinDecentStrong
EBITDA margin19.5%Decent
ThinDecentHealthy
Is it financially safe?
How much it owes, and whether it can comfortably cover it.
Debt to equity0.19Comfortable
LowModerateHigh ▸1
Interest cover4.9×Okay
RiskyOkayStrong ▸5×
Current ratio2.52Ample
Tight ◂1HealthyAmple
More figures
Market cap
₹7,641 cr
Book value
₹82
EPS
₹0.88
latest quarter
Net debt
₹92 cr
owes more than its cash
Enterprise value
₹7,733 cr
EBITDA
₹186 cr
annualised
EBIT
₹120 cr
annualised
Operating margin
12.5%
Return on assets
2.0%
Earnings yield
0.86%
P/S
7.98
Sales / share
₹51.1
Tax rate
31.8%
Face value
₹10
Shares
18.7 cr
Working capital
₹1,274 cr
Current assets
₹2,115 cr
Current liabilities
₹841 cr
Delivery %
34.9%
Strong / safeFairWeak / riskyValuation — a level, not good/badBands are general rules of thumb, not advice.

P/E, ROE, ROCE and margins are annualised from the latest quarter; per-share and balance-sheet ratios use the most recent balance sheet on file · prices as of 2026-09-17.

Worth vs price · from the FY 2025 report & filings
not investment advice
Hard to value confidentlyLow confidence
The market price is far above what these earnings- and book-based models support — a fast-growing or asset-light business can trade well above them for years, so we won't put a confident number on how overpriced it is.
Models span ₹31₹43, midpoint ₹37

An educational model from the company's own filings, every assumption shown — not investment advice or a price target. Prices can stay above or below any model for years.

P&L · Q1 FY27 (consolidated)
Revenue from Operations₹239 cr
Other Income₹10 cr
Total Income₹249 cr
Cost of Materials₹112 cr
Purchases of Stock-in-Trade₹0 cr
Inventory Change (±)₹-21 cr
Employee Benefit Expense₹37 cr
Finance Costs₹6 cr
Depreciation & Amortisation₹17 cr
Other Expenses₹74 cr
Total Expenses₹226 cr
Profit before Tax₹24 cr
Tax Expense₹8 cr
Share of JV / Associates₹15.5 L
Net Profit₹16 cr
Net margin on total income6.6%
Where the money goes · Q1 FY27
% of total income
Materials + stock-in-trade₹91 cr36.6%
Employee benefit expense₹37 cr14.9%
Finance costs₹6 cr2.4%
Depreciation & amortisation₹17 cr6.7%
Other expenses₹74 cr29.8%
Tax expense₹8 cr3.0%
Profit for the period₹16 cr6.6%
Total income ₹249 cradds up to ₹100 ✓
Quarterly results · consolidated (₹ cr)
MetricQ3 FY26Q4 FY26Q1 FY27
Revenue276 cr553 cr239 cr
Total income283 cr567 cr249 cr
Expenses244 cr460 cr226 cr
Profit before tax39 cr107 cr24 cr
Tax12 cr29 cr8 cr
Net profit (owners' share)28 cr78 cr16 cr
Net margin (owners' share, on revenue)10.0%14.1%6.9%
EPS (₹)1.484.160.88
YoY (latest quarter): total income +40.5% · net profit +27.0%
Balance sheet & cash flow · as of Mar 2026
Low debt
Total assets
₹3,221 cr
Shareholder equity
₹1,532 cr
parent shareholders
Total debt
₹284 cr
Cash
₹192 cr
Cash flow · H1 FY26
Operating
₹10 cr
Investing
₹13 cr
Financing
₹-23 cr
Peer comparison
Aerospace & Defense · by market value
CompanyPriceMarket capP/E
Hindustan Aeronautics Limited₹4,788₹3.20 L cr50.4
Bharat Electronics Limited₹395₹2.89 L cr68.7
Centum Electronics Limited₹4,343₹60,214 cr142.7
Bharat Dynamics Limited₹1,152₹42,224 cr88.9
Garden Reach Shipbuilders & Engineers Limited₹2,340₹26,803 cr38.8
Data Patterns (India) Limited₹4,411₹24,702 cr279.9
AXISCADES Technologies Limited₹1,852₹16,469 cr
Aequs Limited₹229₹15,380 cr
Astra Microwave Products Limited₹1,608₹15,265 cr309.2
Same industry · latest reported numbers · not a recommendation.
Corporate actions
Dividend yield
0.21%
trailing 12 months
Dividend / share (TTM)
₹0.85
Last dividend
₹0.85
ex 18 Mar 2026
ActionDetailEx-date
Dividend₹0.85 / share18 Mar 2026
Dividend₹0.75 / share25 Mar 2025
Dividend₹1.41 / share22 Mar 2024
Dividend₹1.67 / share22 Sep 2023
Dividend₹1.68 / share23 Mar 2023
Dividend₹1.54 / share21 Sep 2022
Who owns it · 2026-06-30
No pledge
Promoter
74.0%
FII / Foreign
2.6%
DII / Domestic
7.4%
Retail / others
16.1%
Smart-money activity
Bulk / block deals
short · NSE4410 Sep 26
short · NSE19 Sep 26
short · NSE1008 Sep 26
Stake changes
SoldHDFC Mutual Fund→ 4.48% · 49.40 L8 Jul 24
SoldHDFC Mutual Fund→ 7.12% · 37.80 L1 Apr 24
BoughtHDFC Mutual Fund · promoter→ 9.13% · 38.06 L7 Jan 21
What shareholders were asked to approve
1 proposal passed only on promoter votes

A company cannot decide everything on its own. Things like a top executive’s pay, issuing new shares, or re-appointing a director have to be put to the people who own the company, and they vote — one vote per share. So whoever owns the most shares has the most say.

Yearly shareholder meeting · 30 Sep 2025
See the official result
1
To receive, consider and adopt: a) the audited standalone financial statements of the Company for the financial year ended March 31, 2025, the reports of the Board of Directors and Auditors thereon; and b) the audited consolidated financial statements of the Company for the financial year ended March 31, 2025 and report of the Auditors thereon.
Backed by 100% of shareholders other than promotersneeded 50%
1.61 cr votes for, 1,490 against · 0% of mutual funds and other big investors said no
2
To appoint a Director in place of Dr. S.V.S. Narayana Murty (DIN: 11065319), who retires by rotation and being eligible, offers himself for re-appointment.
Backed by 92% of shareholders other than promotersneeded 50%
1.49 cr votes for, 12.10 L against · 8% of mutual funds and other big investors said no
3
Appointment of Dr. S.V.S. Narayana Murty (DIN:11065319) as Chairman & Managing Director of Company To consider and, if thought fit, to pass, the following resolutions as an ORDINARY RESOLUTIONS
Backed by 93% of shareholders other than promotersneeded 50%
1.49 cr votes for, 11.99 L against · 7% of mutual funds and other big investors said no
4
Appointment of Smt. Madhubala Kalluri (DIN: 11202794) as Director (Finance) of the Company To consider and, if thought fit, to pass, the following resolutions as an ORDINARY RESOLUTIONS
Backed by 100% of shareholders other than promotersneeded 50%
1.61 cr votes for, 25,667 against · 0% of mutual funds and other big investors said no
6
Re-appointment of Smt. V.T. Rema (DIN: 09561611) as Independent Director of the Company
⚑ Passed only because promoters voted yes
Backed by 48% of shareholders other than promotersneeded 75%
76.93 L votes for, 84.15 L against · 52% of mutual funds and other big investors said no

Every vote count above is taken from the result the company filed with the stock exchange, certified by an independent counter. To work out what would have happened without the promoters, we simply remove their votes and re-apply the same legal bar the proposal had to clear. Nothing here is an estimate or an opinion.

Who controls this company, and what it pays them

Most Indian companies are controlled by a family or group — the promoters. The exchange requires them to be listed by name, including members who own no shares at all, and requires the company to disclose any business it does with them.

The promoter group — 1 named members
owning 74.0% between them · as of 2026-06-30
PRESIDENT OF INDIA74.00%

Names and holdings from the company’s shareholding pattern filed with the exchange; transactions from the related-party note in its annual report. Every figure is as filed — these are legal, disclosed dealings, and what to make of them is your call.

How the stock has moved · adjusted for splits & bonuses
Data from primary exchange filings · analysis tool, not investment advice.