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MIDHANI

MIDHANI DHATU NIGAMMishra Dhatu Nigam Ltd (MIDHANI) manufactures superalloys, titanium, special purpose steel and other special metals. It was incorporated in 1973 at Hyderabad as a Government of India Enterprise under the Ministry of Defence. GoI still owns ~74% stake in the company after its IPO in 2018 The company was set up by the Govt. with a view to achieve self-reliance in the production and supply of various super alloys, special steels, and soft magnetic alloys to Defence and other Strategic Sectors such as Energy, Space, and Aeronautical applications. It is the only manufacturer of Titanium alloys in India The company sells its products across 22 States of India & 4 countries across the world. Manufacturing Capabilities The company operates 2 manufacturing facilities, one at Hyderabad, Telangana which produces various products such as High Value Speciality Steel, Super Alloys, and Titanium alloys, and another at Rohtak, Haryana which manufactures Armour products. Its Hyderabad facility has 2 units one is a wide plate mill and another one is a spring plant with a capacity of 60000 springs per year. Expansion & Upgradation In FY23, the company set up a unit in Rohtak, Haryana for the development of body armor, vehicle armor, bulletproof Morcha, and bullet-resistant jackets. It has set up a New 8T capacity Vacuum Induction Melting Furnace and a 300 Kg Vacuum Arc Skull Melting Furnace. It spent a capex of ~76 Cr in FY23. It set up a new Titanium Shop, a new 20T & 12T Fixed Hearth Furnace for the Forge Shop, and a Fastener plant- operational by FY24 New Projects The company is working toward the establishment of a Metal Powder Production Unit boasting a capacity of 50 TPA and plans to procure an 8000-tonne capacity hydraulic compacting press, augmenting the Bar & Wire drawing facility. It has planned 300-400 Cr of capex over the medium term. It has an order book of ~1762 Cr as of Q3 FY24 to be executed over the next year. Space and defense together contribute to 70-75% of total orders
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