Want to see IN:MIDHANI full AI Analyst Report?
Top Page
Mishra Dhatu Nigam Ltd.
(MIDHANI)
Select Model
Select Model
Rating:65Neutral
Price Target:
₹435.00
▲(10.84% Upside)
Action:Reiterated
Date:09/09/26
The score is driven primarily by solid financial footing (conservative leverage and strong FY2026 revenue growth) and supportive technical trend signals (price above major moving averages). This is meaningfully offset by expensive valuation (high P/E with minimal yield) and the risk flagged by prior-year cash flow volatility and margin compression versus earlier peak years.
Positive Factors
Revenue Growth
The 18.4% FY2026 revenue rebound indicates renewed demand after a flat FY2025 and supports a stronger near-term growth trajectory. For a specialty-materials producer, sustained sales recovery can improve capacity utilization, customer engagement, and the ability to fund ongoing strategic programs.
Negative Factors
Margin Compression
The substantial decline in net margin from FY2022–FY2023 peak levels shows that stronger sales have not translated into comparable profitability. If the lower margin profile persists, earnings growth may lag revenue growth and the company could have less internally generated capital for investment and shareholder returns.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue Growth
The 18.4% FY2026 revenue rebound indicates renewed demand after a flat FY2025 and supports a stronger near-term growth trajectory. For a specialty-materials producer, sustained sales recovery can improve capacity utilization, customer engagement, and the ability to fund ongoing strategic programs.
Read all positive factors
Mishra Dhatu Nigam Ltd. (MIDHANI) vs. iShares MSCI India ETF (INDA)
Market Cap
₹82.48B
Dividend Yield0.48%
Average Volume (3M)143.37K
Price to Earnings (P/E)61.2
Beta (1Y)1.87
Revenue Growth18.17%
EPS Growth13.88%
CountryIN
Employees760
SectorGeneral
Sector StrengthN/A
IndustrySteel
Share Statistics
EPS (TTM)7.21
Shares Outstanding187,340,000
10 Day Avg. Volume52,619
30 Day Avg. Volume143,365
Financial Highlights & Ratios
PEG Ratio2.05
Price to Book (P/B)3.31
Price to Sales (P/S)4.19
P/FCF Ratio52.52
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)9.85
Revenue Forecast (FY)₹14.26B
Mishra Dhatu Nigam Ltd. Business Overview & Revenue Model
Company Description
Mishra Dhatu Nigam Limited (MIDHANI), an Indian enterprise founded in Hyderabad in 1973, is a leading manufacturer and supplier of advanced metallic materials. The company's diverse product range encompasses superalloys, titanium, specialized stee...
How the Company Makes Money
MIDHANI makes money primarily by manufacturing and selling specialty metals, alloys, and related products to institutional customers, with a significant portion of demand historically coming from India’s strategic programs and government-linked en...
Mishra Dhatu Nigam Ltd. Financial Statement Overview
Summary
Income Statement
72
Positive
Balance Sheet
78
Positive
Cash Flow
55
Neutral
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 12.75B | 12.09B | 10.74B | 10.73B | 8.72B | 8.59B |
| Gross Profit | 5.90B | 4.77B | 4.38B | 6.06B | 2.66B | 6.36B |
| EBITDA | 2.71B | 2.76B | 2.49B | 2.25B | 2.96B | 2.95B |
| Net Income | 1.35B | 1.31B | 1.11B | 917.82M | 1.56B | 1.77B |
Balance Sheet | ||||||
| Total Assets | 0.00 | 32.21B | 29.15B | 29.05B | 28.63B | 27.79B |
| Cash, Cash Equivalents and Short-Term Investments | 1.92B | 1.92B | 510.18M | 164.77M | 142.91M | 624.77M |
| Total Debt | 0.00 | 4.07B | 3.50B | 4.33B | 4.89B | 3.60B |
| Total Liabilities | -15.32B | 16.89B | 15.00B | 15.86B | 15.77B | 15.90B |
| Stockholders Equity | 15.32B | 15.32B | 14.15B | 13.19B | 12.85B | 11.90B |
Cash Flow | ||||||
| Free Cash Flow | -196.94M | 964.36M | 1.33B | 1.36B | -1.08B | -854.82M |
| Operating Cash Flow | 100.35M | 1.46B | 2.00B | 2.16B | -354.12M | 51.13M |
| Investing Cash Flow | 130.74M | -1.59B | -1.02B | -651.55M | -29.50M | -677.71M |
| Financing Cash Flow | -233.96M | 340.24M | -1.04B | -1.48B | 427.76M | 386.64M |
Mishra Dhatu Nigam Ltd. Technical Analysis
Positive
392.45
Price Trends
423.94
Positive
420.60
Positive
384.35
Positive
Market Momentum
6.63
Negative
54.25
Neutral
72.62
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:MIDHANI, the sentiment is Positive. The current price of 392.45 is below the 20-day moving average (MA) of 427.20, below the 50-day MA of 423.94, and above the 200-day MA of 384.35, indicating a bullish trend. The MACD of 6.63 indicates Negative momentum. The RSI at 54.25 is Neutral, neither overbought nor oversold. The STOCH value of 72.62 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for IN:MIDHANI.
Mishra Dhatu Nigam Ltd. Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
74 Outperform | ₹82.84B | 11.23 | ― | 1.62% | -12.21% | -16.07% | |
68 Neutral | ₹697.63B | 30.14 | ― | 0.19% | 20.21% | 14.36% | |
65 Neutral | ₹82.48B | 61.15 | ― | 0.48% | 18.17% | 13.88% | |
65 Neutral | ₹176.47B | 40.86 | ― | 0.40% | -16.30% | -24.14% | |
64 Neutral | ₹583.57B | 17.98 | ― | 0.42% | 9.82% | 26.30% | |
61 Neutral | ₹2.17T | 19.62 | ― | 2.30% | 10.51% | 143.13% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% |
* General Sector Average
IN:MIDHANI
Mishra Dhatu Nigam Ltd.
440.25
63.15
16.75%
IN:JSL
Jindal Stainless Limited
707.85
-62.17
-8.07%
IN:MAHSEAMLES
Maharashtra Seamless Limited
618.25
44.39
7.73%
IN:RATNAMANI
Ratnamani Metals & Tubes Ltd.
2,517.75
205.48
8.89%
IN:TATASTEEL
Tata Steel Limited
173.60
4.14
2.45%
IN:WELCORP
Welspun Corp Limited
2,644.65
1,804.24
214.69%
Mishra Dhatu Nigam Ltd. Corporate Events
C&AG Reappoints Anjaneyulu & Co. as MIDHANI’s Statutory Auditor for FY 2026-27
Sep 9, 2026
Mishra Dhatu Nigam Ltd has announced that the Comptroller and Auditor General of India has re-appointed M/s Anjaneyulu Co., Chartered Accountants, as the company’s statutory auditor for the financial year 2026-27. The re-appointment undersc...
MIDHANI Publishes Q1 FY27 Earnings Call Transcript for Investors
Aug 22, 2026
Mishra Dhatu Nigam Limited has released the official transcript of its analysts and investors conference call discussing its Q1 FY27 financial results, held on August 17, 2026. The document, which complements the previously shared audio recording,...
MIDHANI Announces Retirement of Production General Manager
Aug 2, 2026
Mishra Dhatu Nigam Ltd. has announced the retirement of General Manager (Production) Shri Anand Kumar Kaluvala, effective August 1, 2026. The change in a key production leadership role may have operational implications for MIDHANI as it manages su...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.