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Mishra Dhatu Nigam Limited
NSE: MIDHANI · Capital Goods
₹379.40-1.84%06 Nov 2026
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Instant answers about Mishra Dhatu Nigam Limited — computed from its filings, no language modelMarket cap₹7,108 cr
Current price₹379.40
High / Low₹477 / ₹270
P/E548.4
P/B4.64
Book value₹81.8
ROE0.8%
ROCE11.8%
Debt / equity0.19
Dividend yield0.22%
EPS (TTM)₹0.69
Face value₹10
Price & valuation
split & bonus adjusted · pick a metric and rangeAnnual performance
annual · ₹ crore · line = operating margin| FY20 | FY21 | FY22 | FY23 | FY24 | FY26 | |
|---|---|---|---|---|---|---|
| Revenue | 713 | 813 | 859 | 872 | 1,073 | 1,209 |
| EBITDA | 198 | 245 | 262 | 258 | 194 | 238 |
| Operating margin | 27.7% | 30.2% | 30.5% | 29.5% | 18.1% | 19.7% |
| Interest | 6 | 12 | 22 | 26 | 35 | 25 |
| Depreciation | 26 | 27 | 33 | 53 | 59 | 66 |
| Profit before tax | 202 | 226 | 239 | 217 | 131 | 184 |
| Tax | 42 | 60 | 63 | 61 | 40 | 53 |
| Net profit | 0 | 166 | 177 | 156 | 91 | 0 |
| EPS ₹ | 8.44 | 8.88 | 9.43 | 8.34 | 4.90 | 7.02 |
| Operating cash flow | — | — | 52 | -35 | 216 | 155 |
| Capex | — | — | 126 | 73 | 79 | 49 |
| Dividend paid | — | — | 59 | 60 | 58 | 16 |
| Total assets | — | — | — | 2,863 | 2,905 | 3,221 |
| Equity | — | — | — | 1,285 | 1,319 | 1,532 |
Quarterly performance
last 25 quarters · ₹ crore| MAR '20 | JUN '20 | SEP '20 | DEC '20 | MAR '21 | JUN '21 | SEP '21 | DEC '21 | MAR '22 | JUN '22 | SEP '22 | DEC '22 | MAR '23 | JUN '23 | SEP '23 | DEC '23 | MAR '24 | JUN '24 | SEP '24 | DEC '24 | JUN '25 | SEP '25 | DEC '25 | MAR '26 | JUN '26 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 204 | 114 | 164 | 190 | 346 | 114 | 188 | 234 | 323 | 115 | 181 | 232 | 345 | 188 | 227 | 252 | 406 | 163 | 262 | 238 | 170 | 210 | 276 | 553 | 239 |
| Operating profit | 50 | 6 | 50 | 86 | 103 | 26 | 52 | 63 | 122 | 33 | 59 | 66 | 100 | 42 | 36 | 36 | 80 | 23 | 49 | 52 | 34 | 33 | 55 | 116 | 37 |
| Operating margin | 24.6% | 5.1% | 30.5% | 45.5% | 29.8% | 22.4% | 27.6% | 26.9% | 37.7% | 28.7% | 32.4% | 28.4% | 29.1% | 22.1% | 16.0% | 14.2% | 19.8% | 14.3% | 18.7% | 22.0% | 20.0% | 15.6% | 19.8% | 21.0% | 15.3% |
| Other income | 14 | 4 | 4 | 4 | 8 | 8 | 2 | 5 | 16 | 7 | 9 | 9 | 12 | 8 | 8 | 6 | 8 | 8 | 9 | 7 | 7 | 9 | 8 | 14 | 10 |
| Interest | 2 | 3 | 3 | 3 | 3 | 2 | 2 | 3 | 15 | 5 | 6 | 7 | 8 | 9 | 9 | 9 | 8 | 7 | 8 | 7 | 6 | 6 | 6 | 7 | 6 |
| Depreciation | 7 | 7 | 7 | 7 | 7 | 7 | 7 | 7 | 12 | 12 | 13 | 14 | 14 | 14 | 14 | 14 | 15 | 15 | 16 | 16 | 16 | 17 | 17 | 17 | 17 |
| Profit before tax | 56 | -0 | 44 | 81 | 102 | 25 | 45 | 58 | 110 | 23 | 49 | 54 | 90 | 27 | 21 | 19 | 65 | 9 | 34 | 36 | 19 | 19 | 39 | 107 | 24 |
| Tax | 15 | 0 | 12 | 21 | 27 | 6 | 12 | 15 | 29 | 6 | 15 | 15 | 24 | 8 | 7 | 6 | 18 | 4 | 10 | 11 | 6 | 6 | 12 | 29 | 8 |
| Net profit | 0 | -1 | 33 | 60 | 75 | 19 | 34 | 0 | 81 | 18 | 34 | 38 | 66 | 19 | 0 | 0 | 46 | 5 | 0 | 0 | 0 | 13 | 0 | 0 | 0 |
| EPS ₹ | 2.14 | -0.05 | 1.74 | 3.21 | 3.99 | 1.00 | 1.81 | 2.29 | 4.33 | 0.95 | 1.79 | 2.06 | 3.54 | 1.00 | 0.74 | 0.68 | 2.47 | 0.28 | 1.27 | 1.36 | 0.69 | 0.69 | 1.48 | 4.16 | 0.88 |
| Revenue YoY | — | — | — | — | 69.9% | 0.5% | 14.7% | 23.2% | -6.5% | 0.8% | -3.7% | -1.2% | 6.6% | 63.3% | 25.7% | 8.8% | 17.7% | -12.9% | 15.2% | -5.6% | 4.3% | -20.0% | 15.8% | — | 40.5% |
| Profit YoY | — | — | — | — | — | — | 4.4% | -100.0% | 8.5% | -5.1% | -1.0% | — | -18.1% | 5.5% | -100.0% | -100.0% | -30.7% | -71.7% | — | — | -100.0% | — | — | — | — |
Earlier results (standalone, Mar '18 – Dec '19)
₹ crore · from BSE, before the NSE XBRL filings beginMishra Dhatu Nigam Limited reports consolidated figures above. Quarterly consolidated results only became mandatory in India in 2019, so the earlier history available is the standalone company only (excluding subsidiaries). It is shown separately so the two bases are never mixed.
Full years
| FY19† | |
|---|---|
| Revenue | 711 |
| Operating profit | 184 |
| Operating margin | 25.8% |
| Other income | 37 |
| Interest | 6 |
| Depreciation | 23 |
| Profit before tax | 191 |
| Tax | 60 |
| Net profit | 131 |
Quarters
| MAR '18† | JUN '18† | SEP '18† | DEC '18† | MAR '19† | JUN '19† | SEP '19† | DEC '19† | |
|---|---|---|---|---|---|---|---|---|
| Revenue | 311 | 106 | 115 | 153 | 336 | 132 | 170 | 207 |
| Operating profit | 115 | 21 | 35 | 17 | 111 | 37 | 53 | 57 |
| Operating margin | 37.1% | 19.9% | 30.2% | 11.2% | 32.9% | 28.3% | 31.1% | 27.7% |
| Other income | 10 | 7 | 4 | 14 | 12 | 6 | 6 | 9 |
| Interest | 4 | 1 | 1 | 2 | 2 | 2 | 1 | 1 |
| Depreciation | 5 | 5 | 6 | 6 | 6 | 6 | 6 | 7 |
| Profit before tax | 117 | 21 | 32 | 23 | 115 | 36 | 52 | 58 |
| Tax | 40 | 8 | 12 | 6 | 35 | 13 | 16 | -2 |
| Net profit | 77 | 13 | 21 | 17 | 80 | 23 | 36 | 60 |
| EPS ₹ | 4.14 | 0.68 | 1.10 | 0.90 | 4.29 | 1.23 | 1.91 | 3.23 |
| Revenue YoY | — | — | — | — | 8.2% | 24.6% | 47.8% | 35.0% |
| Profit YoY | — | — | — | — | 3.6% | 79.4% | 74.5% | 257.8% |
Returns & margins
trailing-twelve-month, per quarter| DEC '20 | MAR '21 | JUN '21 | SEP '21 | DEC '21 | MAR '22 | JUN '22 | SEP '22 | DEC '22 | MAR '23 | JUN '23 | SEP '23 | DEC '23 | MAR '24 | JUN '24 | SEP '24 | DEC '24 | MAR '26 | JUN '26 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | — | — | — | — | — | — | — | 10.7% | 13.7% | 12.1% | 12.2% | 9.3% | 6.5% | 4.9% | 3.9% | 3.8% | 3.8% | 0.8% | 0.8% |
| ROCE | — | — | — | — | — | — | — | 17.3% | 17.3% | 14.5% | 14.9% | 13.1% | 11.2% | 10.1% | 8.9% | 9.4% | 10.4% | 11.5% | 11.8% |
| Net margin | 13.7% | 20.5% | 22.9% | 22.4% | 14.4% | 15.6% | 15.4% | 15.5% | 20.0% | 17.8% | 16.6% | 12.4% | 8.4% | 6.0% | 4.9% | 4.7% | 4.8% | 1.1% | 1.0% |
| EBITDA margin | 28.7% | 30.2% | 32.6% | 31.9% | 27.6% | 30.5% | 31.4% | 32.4% | 32.8% | 29.5% | 28.2% | 24.6% | 21.1% | 18.1% | 16.8% | 17.4% | 19.2% | 19.7% | 18.8% |
| Debt / equity | — | — | — | — | — | — | — | 0.26 | 0.26 | 0.30 | 0.30 | 0.30 | 0.30 | 0.25 | 0.25 | 0.24 | 0.24 | 0.19 | 0.19 |
| Interest coverage | 17.07 | 19.86 | 24.64 | 27.53 | 26.05 | 12.13 | 10.76 | 9.44 | 8.24 | 9.42 | 8.40 | 6.87 | 5.58 | 4.79 | 4.45 | 4.97 | 5.72 | 8.35 | 8.57 |
| Asset turnover | — | — | — | — | — | — | — | 0.29 | 0.29 | 0.30 | 0.33 | 0.32 | 0.33 | 0.37 | 0.36 | 0.36 | 0.36 | 0.38 | 0.40 |
Balance sheet
equity vs borrowings over time · ₹ crore| SEP '22 | MAR '23 | SEP '23 | MAR '24 | SEP '24 | SEP '25 | MAR '26 | |
|---|---|---|---|---|---|---|---|
| Share capital | 187 | 187 | 187 | 187 | 187 | 187 | 187 |
| Other equity / reserves | 1,054 | 1,098 | 1,131 | 1,132 | 1,161 | 1,254 | 1,345 |
| Total equity | 1,242 | 1,285 | 1,319 | 1,319 | 1,348 | 1,442 | 1,532 |
| Borrowings | 318 | 387 | 393 | 324 | 328 | 219 | 284 |
| Current liabilities | 852 | 801 | 978 | 775 | 797 | 693 | 841 |
| Non-current liabilities | 806 | 776 | 812 | 811 | 854 | 815 | 848 |
| Total assets | 2,900 | 2,863 | 3,109 | 2,905 | 3,000 | 2,950 | 3,221 |
| Property, plant & equipment | 982 | 1,011 | 1,000 | 1,028 | 1,074 | 1,069 | 1,064 |
| Capital work-in-progress | 104 | 80 | 88 | 83 | 24 | 24 | 16 |
| Investments | 21 | 21 | 22 | 22 | 25 | 26 | 24 |
| Inventories | 1,283 | 1,225 | 1,448 | 1,310 | 1,373 | 1,440 | 1,333 |
| Receivables | 252 | 316 | 328 | 323 | 320 | 312 | 554 |
| Cash & equivalents | 8 | 14 | 1 | 16 | 50 | 18 | 192 |
Cash flow
annual · ₹ crore · line = free cash flow| FY22 | FY23 | FY24 | FY26 | |
|---|---|---|---|---|
| Cash from operations | 52 | -35 | 216 | 155 |
| Cash from investing | -103 | -3 | -65 | -150 |
| Cash from financing | 27 | 43 | -148 | 16 |
| Capex | 126 | 73 | 79 | 49 |
| Free cash flow | -74 | -108 | 137 | 105 |
| Dividends paid | 59 | 60 | 58 | 16 |
Where the assets sit
Mar '26 · ₹ croreFixed assets (PPE)₹1,064 cr33%
CWIP₹16 cr0%
Investments₹24 cr1%
Inventories₹1,333 cr41%
Receivables₹554 cr17%
Cash & equivalents₹192 cr6%
Other assets₹39 cr1%
Peer comparison
largest in Capital Goods · this company in bold| Company | Market cap ₹cr | Price | P/E | P/B | ROE |
|---|---|---|---|---|---|
| Hindustan Aeronautics Ltd. | 3,33,052 | 4,980.00 | 35.7 | 8.12 | 22.7% |
| Bharat Electronics Ltd. | 2,89,468 | 396.00 | 45.2 | 11.02 | 24.4% |
| Tata Motors Ltd. | 1,56,797 | 425.50 | 24.8 | 10.26 | 41.3% |
| Bharat Heavy Electricals Ltd. | 1,45,828 | 418.80 | 50.7 | 5.45 | 10.8% |
| ABB India Ltd. | 1,43,541 | 6,774.00 | 55.7 | 15.37 | 27.6% |
| Siemens Ltd. | 1,26,736 | 3,560.00 | 28.2 | 8.02 | 28.4% |
| Hitachi Energy India Ltd. | 1,23,988 | 27,800.00 | 107.8 | 23.95 | 22.2% |
| CG Power and Industrial Solutions Ltd. | 1,21,786 | 773.00 | 89.1 | 13.94 | 15.6% |
| Polycab India Ltd. | 1,18,610 | 7,871.00 | 37.6 | 9.06 | 24.1% |
| Cummins India Ltd. | 1,12,233 | 4,048.80 | 49.8 | 13.52 | 27.1% |
| Mishra Dhatu Nigam Limited | 7,108 | 379.40 | 548.4 | 4.64 | 0.8% |
StoxGud checklist: Bearish setup · 3/10
- Price above 50-day average
- Price above 200-day average
- 50-day average above 200-day (uptrend)
- RSI in healthy 40–70 zone
- Positive 1-year return
- Return on equity above 15%
- Debt to equity below 1
- Revenue growing year on year
- Net profit margin above 10%
- P/E below industry median
A rules-based screen of trend, momentum, quality and valuation. Educational only — not a buy or sell recommendation.
Returns & technicals
1 month-17.3%
6 months-8.3%
1 year-1.7%
3Y CAGR-2.0%
5Y CAGR+13.8%
10Y CAGR—
50-day avg₹413.73
200-day avg₹391.25
RSI (14)35
FAQs
What is the share price of Mishra Dhatu Nigam Limited?
Mishra Dhatu Nigam Limited (MIDHANI) closed at ₹379.40 on NSE on 06 Nov 2026.
What is the market cap of Mishra Dhatu Nigam Limited?
₹7,108 crore at the latest close.
What is the P/E ratio of Mishra Dhatu Nigam Limited?
548.4, on trailing-twelve-month earnings from its filings.
How fast is Mishra Dhatu Nigam Limited growing?
Mishra Dhatu Nigam Limited: revenue has compounded at 12.0% a year over three years. Latest-quarter revenue is up 40.5% year on year.
How profitable is Mishra Dhatu Nigam Limited?
On a trailing-twelve-month basis return on equity is 0.8%, return on capital employed 11.8%, operating margin 18.8%, net margin 1.0%.
How much debt does Mishra Dhatu Nigam Limited have?
Mishra Dhatu Nigam Limited is lightly geared: debt to equity is 0.19 with borrowings of ₹284 cr against cash of ₹192 cr (balance sheet of 2026-03-31). Operating profit covers interest 8.6 times.
Financials parsed from Mishra Dhatu Nigam Limited's own XBRL filings to NSE (consolidated), ₹ crore unless marked. Quarterly from MAR '20, annual from FY20, balance sheet from Sep '22. * = derived (full year or half year minus earlier quarters). Information only, not investment advice.
Mishra Dhatu Nigam Limited · advanced chart