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Midhani: A play on higher spending in defence, space and railway

Higher revenue growth, healthy margins likely to be maintained in the near term

September 23, 2022 / 01:43 PM IST
Midhani: A play on higher spending in defence, space and railway

Representational image

PRO Only Highlights
Quarterly performance largely backed by improved realisations
Medium-term triggers China plus and protectionist measures for tyre industry
Valuations not inexpensive; but improved medium-term outlook

Highlights Decent order booking provides visibility Majority of the capex completed, except for a joint venture project Dividend payout likely to be maintained at 30-35 percent Investors with a long term view can accumulate Mishra Dhatu Nigam (Midhani; CMP: Rs 220; Market capitalisation: Rs 4,125 crore) is a leading manufacturer of special steel, titanium alloys, and super alloys catering mainly to the defence, space and energy segments. The promoter (government of India) owns a 74 percent stake and institutions own 15 percent in the company,...

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