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Mishra Dhatu Nigam stocking up capex ammo. Can it fire for investors?

The June 2021 quarter for MIDHANI likely to be impacted by the second wave of COVID

June 30, 2021 / 04:14 PM IST
Mishra Dhatu Nigam stocking up capex ammo. Can it fire for investors?

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

Mishra Dhatu Nigam, a miniratna defence public sector undertaking (Midhani; CMP: Rs 208; Market Capitalisation: Rs 3,892 crore), reported March 2021 quarter results that were above Street expectations. Despite facing a 45-day lockdown during the June 2020 quarter, Midhani was able to post 13 per cent revenue growth in FY21. The management has declared total dividend of Rs 2.78 per share, resulting in a payout of more than 30 per cent in FY21. March 2021 quarter results Revenues grew by 67 per...

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