Targets Topline of ~Rs 1000 Crore For FY23E: ICICI Direct


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Mishra Dhatu Nigam Ltd. is a leading manufacturer of special steel, super alloys and titanium alloys catering to niche end-user segments like space, defence, etc.

The wide plate mill of Midhani is currently under trial runs. Revenue from wide plate mill is expected to improve in coming quarters. Once the wide plate mill is fully ramped up, it is expected to generate revenue to the tune of ~Rs 500 crore.

The Rs 500 crore annual revenue run rate from the wide plate mill is expected to be reached in FY24E once the entire product range is established.

Midhani is targeting a topline of ~ Rs 1000 crore for FY23. The company is currently seeing good potential from the space segment. Of the order book position of ~Rs 1501 crore as on Oct 01, 2022, ~55% is from defence, ~35% from space and balance ~10% is from others.

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