Mishra Dhatu Nigam (MIDHANI) IPO – Details, Price Band, Analysis
Mishra Dhatu Nigam Limited (MIDHANI) – A Govt. of India Enterprises – set up with an aim to providing the nation self-reliance in strategic materials – is planning to raise INR 443.38 Cr (all OFS) via initial public offer (IPO)
Mishra Dhatu Nigam Limited – Company Profile
- Incorporated in the year 1973, Mishra Dhatu Nigam Limited (MIDHANI) is a Hyderabad based PSU (Public Sector Undertaking) engaged in the business of manufacturing of (1) Special steels, (2) Super alloys and (3) Titanium alloys in India. These are high value products which cater to niche end user segments such as Aeronautics, Defence, Engineering & Chemical Industries, Nuclear, Space, and Power.
- MIDHANI has been handling challenging tasks of developing alloys, taking a lead position in indigenization of critical technologies and products to render support to several programmes of National importance and hi-tech segments of India industry.
- The company has the technological ability to manufacture a wide range of advanced metals and alloys under one roof.
MIDHANI – Product Profile
- Superalloys find extensive application in aeronautics, space, nuclear, chemical, and petrochemical, power generation and furnace industries, where extreme temperatures, mechanical stresses and corrosive environments are encountered.
- Titanium Alloys: Titanium by virtue of its excellent corrosion resistance and high strength-to-weight ratio finds application in the aerospace, chemical, petrochemical, marine, paper and pulp, textile, food and dairy industries and in prosthetics.
- Martensitic Steels, High Strength Special Steel, Austennitic Steels, Percipitation Hardening Steels: These special steels have improved mechanical properties and better workability which are essential for special applications in aerospace, power generation, nuclear, defence, cryogenic and other general engineering industries. These include precipitation hardening steels, non-magnetic austenitic and martensitic stainless steels.
- Other Products: Molybdenum, Special Weld Consumables, Magnesium Alloys, Titanium Tubes, Fastners (Titanium, Superalloys, Special Steels), Ttianium Castings (Investment, Sand Casting), Columbium Alloy
- Electrical & Electronic Alloys
The Promoter of the company is the President of India acting through the Ministry of Defence.
IPO Opening / Closing Date
IPO Details – Price, Minimum Bid and Other
Mishra Dhatu Nigam Limited shows steady revenue growth in recent years. Top-line has been increasing regularly for the last 3 years and jumped from INR 678 Cr in FY 2015 to INR 833 Cr for the period ended FY 2017. (INR 221 Cr till Sept 2017)
Though the company has shown steady growth in revenue, the company has also registered growth in profits in these 3 years. Starting from INR 99.16 Cr of profits in FY2015, the company’s earnings improved to INR 126.13 Cr for the period ended FY 2017. (INR 27.3 Cr till Sept 2017)
Considering company’s valuation, financial parameters, and the sector potential in which it is operating, FinBlab recommends SUBSCRIBE ratings on Mishra Dhatu Nigam Limited IPO (keeping a long-term view in mind)
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