Mishra Dhatu Nigam Ltd., incorporated in the year 1973, is a Mid Cap company (having a market cap of Rs 3477.97 Crore) operating in Metals – Ferrous sector.
Financials
For the quarter ended 31-12-2020, the company reported a Consolidated Total Income of Rs 194.53 Crore, up 16.02 % from last quarter.
Investment Rationale
Low current utilisation and higher value blend through supplies to ISRO and defence can help increase Midhani’s topline meaningfully over the next 2-3 years. The brokerage expects RoCE to cross 20% as topline accretion takes shape. Capex remains limited with ISRO’s share increasing in Midhani’s execution; improvement in working capital and moderate capex will also help generate FCF.
Promoter/FII Holdings
Promoters held 74 per cent stake in the company as of Dec 30, 2020, while FIIs held 0.6 per cent, DIIs 16.7 per cent and public and others 8.7 per cent.
