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Earnings Call Transcript

Mishra Dhatu Nigam Earnings Call Transcript: Key Takeaways

MIDHANI reported strong Q1 FY27 growth with revenue up 40.46% YoY to ₹239.49 crore. Management is focusing on high-value titanium/super alloys and indigenization for defense/aerospace.

Guidance and delivery
Management target Revenue 15.0% FY27
Highlights
Revenue growth40.46% YoY growth achieved in Q1 FY27.
MarginsEBITDA at 20% in Q1; aiming to return to 23-25%.
Order book₹2,329 crore as of July 1, 2026.
Demand visibilityStrong visibility from defense (66%) and space (21%) sectors.
Management confidenceHigh, despite fuel/RM headwinds; expecting Q3 margin normalization.

Growth

Revenue grew 40.46% YoY; Value of Production grew 7.9% YoY. PAT increased 27.42% to ₹16.31 crore.

Outlook

Targeting 10% export mix. Planned ₹1,000 crore capex over 3 years for modernization. Implementing 'Metal Bank' to stabilize supply.

Risks

Margins hit by doubled LPG fuel costs and raw material price volatility (nickel, moly, tungsten).

Last quarter's promises, checked

Delivered

  • Guided 12-15% revenue growth → delivered 40.46% (= BEAT)
  • Guided 23-25% EBITDA margin → delivered 20% (Q1) (= MISS)
  • Guided ₹1,000Cr capex over 3 years → delivered ₹1,000Cr plan confirmed (= BEAT)

Partly delivered

  • Guided ₹1,500Cr order booking for FY27 → delivered ₹2,329Cr total book (= PARTIAL)

Missed

  • Guided 23-25% EBITDA margin → delivered 20% (= MISS)
Source

Earnings Call Transcript filed with NSE, NSE: MIDHANI. Summary written with AI assistance from the document.

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Mishra Dhatu Nigam Ltd: key numbers

Share price
₹405.05
Market cap
₹7,588 Cr
Revenue (annual)
₹1,209 Cr
Net profit (annual)
₹131.5 Cr
P/E (TTM)
56.2×Sector 53.6×
Promoter holding
74.00%+0.00% QoQ
FII holding
2.57%Current quarter

Reference market data from a third-party provider, updated daily. Not a valuation or a recommendation.

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