Mishra Dhatu Nigam Limited: Business Overview, Financials & Competitive Analysis
Mishra Dhatu Nigam Limited scores 6/10 on the AskCyborg Cyborg Score (Solid). Strategic monopoly in titanium alloys and defence-critical materials with strong government backing, but hampered by modest profitability and historical growth constraints. MIDHANI reports Q3 FY26 turnover growth of 15.8% with an order book of Rs.2,440 Cr. However, the company has delivered poor sales growth of 8.54% over past.
What is Mishra Dhatu Nigam Limited's industry? Mishra Dhatu Nigam Limited (midhani-india.in) operates in Specialty Metals & Alloys Manufacturing / Defence & Aerospace Materials. AskCyborg classifies Mishra Dhatu Nigam Limited under Specialty Metals & Alloys Manufacturing / Defence & Aerospace Materials in its company registry.
MIDHANI manufactures superalloys, titanium, special purpose steel and other special metals. It operates as a Public Sector Undertaking (PSU) under the administrative control of the Department of Defence Production Min...
Cyborg Score thesis
Strategic monopoly in titanium alloys and defence-critical materials with strong government backing, but hampered by modest...
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Get Current Report FreeMishra Dhatu Nigam Limited Overview
Pro stress-test →MIDHANI manufactures superalloys, titanium, special purpose steel and other special metals. It operates as a Public Sector Undertaking (PSU) under the administrative control of the Department of Defence Production Ministry of Defence, Government of India. The company is India's sole producer of titanium alloys and a critical supplier to defence, aerospace, nuclear, and energy sectors.
Strategic Profile
Pro stress-test →Over 81% of the company's booked orders are from critical Defence, Space, and Energy sectors. The Government of India owns approximately 74% stake in the company after its IPO in 2018. Founded in 1973, MIDHANI is a premier manufacturer of special steels, superalloys, and titanium alloys as a Central Public Sector Undertaking.
Competitive Landscape
Pro stress-test →MIDHANI operates in a unique market position as a monopoly supplier of titanium alloys in India. Its competitors in special metals manufacturing include international firms like RTI International Metals and various aerospace-grade material suppliers. However, the company's government backing and strategic importance give it protective moat in India's defence and space sectors.
Industry Context
Mishra Dhatu Nigam Limited operates in Specialty Metals & Alloys Manufacturing / Defence & Aerospace Materials.
Key facts
Founded: 1973 · Headquarters: Hyderabad, India · Employees: ~770 · Revenue: ₹1,105.2 Cr FY25 (estimated annual run-rate ~₹1,300 Cr based on FY26 targets) · Market cap: ₹6,451 Cr (~$774M)