Mishra Dhatu Nigam Ltd.

•

₹ 423.950.82%

2026-08-21

midhani-india-inBSE: 541195NSE: MIDHANI

Market Cap₹ 7,881 Cr.

Current Price₹ 424

High / Low₹ 457 / 267

Stock P/E0.0

Book Value₹ 83

Price to Book3.61

Dividend Yield0.30 %

ROCE11.3 %

ROE8.1 %

Face Value₹ 10

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ABOUT

KEY POINTS

PROS

Latest quarter profit grew 27.4% YoY, showing strong momentum
Strong cash generation - operating cash flow backs reported profits (CFO/PAT 1.11x)
Company generates healthy free cash flow
Company has a consistent dividend-paying track record
Company maintains a comfortable, low leverage position
Company comfortably covers its interest (6.1x coverage)

CONS

Receivables are growing faster than sales - a possible quality concern
Company has a low return on equity of 9.2% over last 3 years
Company has delivered a poor profit growth of -7.2% over past five years
Operating margins have contracted to 20.4% from 34.2%

* The pros and cons are machine generated based on quantitative rules.

Peer comparison

EDIT COLUMNS

Capital GoodsIron & SteelSteel & Iron Products

Part ofNIFTY 50 NIFTY 500 NIFTY LARGEMIDCAP 250 NIFTY 100 NIFTY 200

S.No.	Name	CMP Rs.	P/E	Mar Cap Rs.Cr.	Div Yld %	NP Qtr Rs.Cr.	Qtr Profit Var %	Sales Qtr Rs.Cr.	Qtr Sales Var %	ROCE %	OPM %
1.	JSWSTEEL	1296.00	12.79	316930.83	0.55	4696.00	112.58	47364.00	11.55	20.67	19.60
2.	TATASTEEL	183.25	20.73	228759.33	2.18	2385.24	18.82	60794.29	15.26	12.70	15.40
3.	SAIL	174.85	16.90	72222.23	1.34	1644.05	120.80	26245.67	1.25	6.39	15.92
4.	APLAPOLLO	2142.50	48.40	59488.31	0.40	263.11	10.94	5606.71	12.07	22.90	7.34
5.	JSL	718.45	18.23	59230.43	0.56	768.66	7.56	11278.54	10.50	19.19	12.09
6.	WELCORP	2004.10	22.89	52866.28	0.25	1047.88	200.11	4081.12	14.91	23.94	32.17
7.	SHYAMMETL	996.80	24.77	27823.86	0.45	3507.30	1106.63	54550.90	1133.35	13.88	14.03
8.	SARDAEN	508.30	15.85	17911.54	0.39	478.13	9.50	1608.04	-1.07	15.84	41.59
9.	JINDALSAW	269.60	26.38	17241.14	0.74	90.79	-78.15	4452.31	9.00	10.38	8.79
10.	GPIL	247.45	20.65	16655.80	0.40	222.37	2.75	1750.47	32.29	23.51	19.36
11.	RATNAMANI	2285.90	37.01	16022.33	0.44	107.03	-15.82	971.63	-15.63	18.01	16.69
12.	MIDHANI	420.70	58.40	7881.39	0.30	16.47	27.00	239.49	42.08	11.37	15.35

Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	182	223	233	393	156	256	234	406	169	208	275	531	239
	146	191	216	325	140	213	186	317	136	177	221	437	226
Operating Profit	—	—	—	—	—	—	—	—	—	—	—	—	—
OPM %	—	—	—	—	—	—	—	—	—	—	—	—	—
Other Income	8	8	6	8	8	9	7	8	7	9	8	14	10
Interest	9	9	9	8	7	8	7	7	6	6	6	7	6
Depreciation	14	14	14	15	15	16	16	16	16	17	17	17	17
	27	21	19	65	9	34	36	77	19	19	39	107	24
Tax %	30.64%	32.90%	33.99%	28.28%	42.97%	30.57%	29.81%	27.24%	32.63%	33.19%	29.53%	27.34%	31.79%
Net Profit	19	14	12	46	5	24	25	56	13	13	27	78	16
	1	1	1	2	0	1	1	3	1	1	1	4	0
Equity Capital	187	187	187	187	187	187	187	187	187	187	187	187	187
Reserves	0	0	0	0	0	0	0	0	0	0	0	0	0
Promoter Pledge %	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Equity Capital	187	187	187	187	187	187	187	187	187	187	187	187	187
Reserves	0	0	0	0	0	0	0	0	0	0	0	0	0
Promoter Pledge %	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Jun 2023

: 182
: 146
Operating Profit: —
OPM %: —
Other Income: 8
Interest: 9
Depreciation: 14
: 27
Tax %: 30.64%
Net Profit: 19
: 1
Equity Capital: 187
Reserves: 0
Promoter Pledge %: 0.00%
Equity Capital: 187
Reserves: 0
Promoter Pledge %: 0.00%

Sep 2023

: 223
: 191
Operating Profit: —
OPM %: —
Other Income: 8
Interest: 9
Depreciation: 14
: 21
Tax %: 32.90%
Net Profit: 14
: 1
Equity Capital: 187
Reserves: 0
Promoter Pledge %: 0.00%
Equity Capital: 187
Reserves: 0
Promoter Pledge %: 0.00%

Dec 2023

: 233
: 216
Operating Profit: —
OPM %: —
Other Income: 6
Interest: 9
Depreciation: 14
: 19
Tax %: 33.99%
Net Profit: 12
: 1
Equity Capital: 187
Reserves: 0
Promoter Pledge %: 0.00%
Equity Capital: 187
Reserves: 0
Promoter Pledge %: 0.00%

Mar 2024

: 393
: 325
Operating Profit: —
OPM %: —
Other Income: 8
Interest: 8
Depreciation: 15
: 65
Tax %: 28.28%
Net Profit: 46
: 2
Equity Capital: 187
Reserves: 0
Promoter Pledge %: 0.00%
Equity Capital: 187
Reserves: 0
Promoter Pledge %: 0.00%

Jun 2024

: 156
: 140
Operating Profit: —
OPM %: —
Other Income: 8
Interest: 7
Depreciation: 15
: 9
Tax %: 42.97%
Net Profit: 5
: 0
Equity Capital: 187
Reserves: 0
Promoter Pledge %: 0.00%
Equity Capital: 187
Reserves: 0
Promoter Pledge %: 0.00%

Sep 2024

: 256
: 213
Operating Profit: —
OPM %: —
Other Income: 9
Interest: 8
Depreciation: 16
: 34
Tax %: 30.57%
Net Profit: 24
: 1
Equity Capital: 187
Reserves: 0
Promoter Pledge %: 0.00%
Equity Capital: 187
Reserves: 0
Promoter Pledge %: 0.00%

Dec 2024

: 234
: 186
Operating Profit: —
OPM %: —
Other Income: 7
Interest: 7
Depreciation: 16
: 36
Tax %: 29.81%
Net Profit: 25
: 1
Equity Capital: 187
Reserves: 0
Promoter Pledge %: 0.00%
Equity Capital: 187
Reserves: 0
Promoter Pledge %: 0.00%

Mar 2025

: 406
: 317
Operating Profit: —
OPM %: —
Other Income: 8
Interest: 7
Depreciation: 16
: 77
Tax %: 27.24%
Net Profit: 56
: 3
Equity Capital: 187
Reserves: 0
Promoter Pledge %: 0.00%
Equity Capital: 187
Reserves: 0
Promoter Pledge %: 0.00%

Jun 2025

: 169
: 136
Operating Profit: —
OPM %: —
Other Income: 7
Interest: 6
Depreciation: 16
: 19
Tax %: 32.63%
Net Profit: 13
: 1
Equity Capital: 187
Reserves: 0
Promoter Pledge %: 0.00%
Equity Capital: 187
Reserves: 0
Promoter Pledge %: 0.00%

Sep 2025

: 208
: 177
Operating Profit: —
OPM %: —
Other Income: 9
Interest: 6
Depreciation: 17
: 19
Tax %: 33.19%
Net Profit: 13
: 1
Equity Capital: 187
Reserves: 0
Promoter Pledge %: 0.00%
Equity Capital: 187
Reserves: 0
Promoter Pledge %: 0.00%

Dec 2025

: 275
: 221
Operating Profit: —
OPM %: —
Other Income: 8
Interest: 6
Depreciation: 17
: 39
Tax %: 29.53%
Net Profit: 27
: 1
Equity Capital: 187
Reserves: 0
Promoter Pledge %: 0.00%
Equity Capital: 187
Reserves: 0
Promoter Pledge %: 0.00%

Mar 2026

: 531
: 437
Operating Profit: —
OPM %: —
Other Income: 14
Interest: 7
Depreciation: 17
: 107
Tax %: 27.34%
Net Profit: 78
: 4
Equity Capital: 187
Reserves: 0
Promoter Pledge %: 0.00%
Equity Capital: 187
Reserves: 0
Promoter Pledge %: 0.00%

Jun 2026

: 239
: 226
Operating Profit: —
OPM %: —
Other Income: 10
Interest: 6
Depreciation: 17
: 24
Tax %: 31.79%
Net Profit: 16
: 0
Equity Capital: 187
Reserves: 0
Promoter Pledge %: 0.00%
Equity Capital: 187
Reserves: 0
Promoter Pledge %: 0.00%

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
	717	773	662	711	713	813	859	872	1,073	1,074	1,253
	568	588	470	526	514	567	596	613	878	855	1,060
Operating Profit	177	209	221	221	235	266	295	296	225	250	—
OPM %	25	27	33	31	33	33	34	34	21	23	—
Other Income	28	24	29	37	36	20	31	38	30	31	41
Interest	3	5	9	7	7	13	23	27	35	30	25
Depreciation	14	18	20	23	26	27	33	53	59	63	67
	160	186	198	191	202	226	239	217	131	156	189
Tax %	26	32	34	32	21	26	26	28	30	29	29
Net Profit	118	126	131	131	160	166	176	156	91	110	134
EPS	630	7	7	7	9	9	9	8	5	6	—
Dividend Payout %	30	28	30	31	30	31	33	40	29	13	—
Minority Interest	0	0	0	0	0	0	0	0	0	0	0
Share of Associates	0	0	0	0	0	0	0	0	0	0	0
Adjusted EPS	6	7	7	7	9	9	9	8	5	6	—
Minority Interest	0	0	0	0	0	0	0	0	0	0	0
Share of Associates	0	0	0	0	0	0	0	0	0	0	0
Adjusted EPS	6	7	7	7	9	9	9	8	5	6	—

Mar 2016

: 717
: 568
Operating Profit: 177
OPM %: 25
Other Income: 28
Interest: 3
Depreciation: 14
: 160
Tax %: 26
Net Profit: 118
EPS: 630
Dividend Payout %: 30
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 6
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 6

Mar 2017

: 773
: 588
Operating Profit: 209
OPM %: 27
Other Income: 24
Interest: 5
Depreciation: 18
: 186
Tax %: 32
Net Profit: 126
EPS: 7
Dividend Payout %: 28
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 7
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 7

Mar 2018

: 662
: 470
Operating Profit: 221
OPM %: 33
Other Income: 29
Interest: 9
Depreciation: 20
: 198
Tax %: 34
Net Profit: 131
EPS: 7
Dividend Payout %: 30
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 7
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 7

Mar 2019

: 711
: 526
Operating Profit: 221
OPM %: 31
Other Income: 37
Interest: 7
Depreciation: 23
: 191
Tax %: 32
Net Profit: 131
EPS: 7
Dividend Payout %: 31
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 7
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 7

Mar 2020

: 713
: 514
Operating Profit: 235
OPM %: 33
Other Income: 36
Interest: 7
Depreciation: 26
: 202
Tax %: 21
Net Profit: 160
EPS: 9
Dividend Payout %: 30
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 9
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 9

Mar 2021

: 813
: 567
Operating Profit: 266
OPM %: 33
Other Income: 20
Interest: 13
Depreciation: 27
: 226
Tax %: 26
Net Profit: 166
EPS: 9
Dividend Payout %: 31
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 9
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 9

Mar 2022

: 859
: 596
Operating Profit: 295
OPM %: 34
Other Income: 31
Interest: 23
Depreciation: 33
: 239
Tax %: 26
Net Profit: 176
EPS: 9
Dividend Payout %: 33
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 9
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 9

Mar 2023

: 872
: 613
Operating Profit: 296
OPM %: 34
Other Income: 38
Interest: 27
Depreciation: 53
: 217
Tax %: 28
Net Profit: 156
EPS: 8
Dividend Payout %: 40
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 8
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 8

Mar 2024

: 1,073
: 878
Operating Profit: 225
OPM %: 21
Other Income: 30
Interest: 35
Depreciation: 59
: 131
Tax %: 30
Net Profit: 91
EPS: 5
Dividend Payout %: 29
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 5
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 5

Mar 2025

: 1,074
: 855
Operating Profit: 250
OPM %: 23
Other Income: 31
Interest: 30
Depreciation: 63
: 156
Tax %: 29
Net Profit: 110
EPS: 6
Dividend Payout %: 13
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 6
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 6

TTM

: 1,253
: 1,060
Operating Profit: —
OPM %: —
Other Income: 41
Interest: 25
Depreciation: 67
: 189
Tax %: 29
Net Profit: 134
EPS: —
Dividend Payout %: —
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: —
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: —

COMPOUNDED SALES GROWTH

10 Years:: 5%
5 Years:: 9%
3 Years:: 8%

COMPOUNDED PROFIT GROWTH

10 Years:: 1%
5 Years:: -7%
3 Years:: -15%

STOCK PRICE CAGR

10 Years:: —
5 Years:: 19%
3 Years:: 2%
1 Year:: 8%

RETURN ON EQUITY

10 Years:: 15%
5 Years:: 12%
3 Years:: 9%
Last Year:: 8%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
LIABILITIES	-	-	-	-	-	-	-	-	-	-
Equity Capital	187	187	187	187	187	187	187	187	187	187
	389	517	602	647	771	885	1,003	1,099	1,132	1,227
	0	13	92	106	133	160	240	300	245	175
Trade Payables	53	66	96	128	129	86	176	146	120	93
	424	318	388	755	1,177	1,142	1,174	1,132	1,221	1,231
Total Liabilities	1,054	1,101	1,365	1,825	2,398	2,461	2,781	2,864	2,906	2,914
ASSETS	-	-	-	-	-	-	-	-	-	-
	263	327	344	425	441	429	938	1,016	1,032	1,074
Capital Work in Progress	7	6	65	175	405	549	132	80	83	25
	2	2	2	2	22	22	22	22	22	25
	289	206	241	509	911	801	1,091	1,225	1,310	1,281
	0	0	0	0	0	0	0	0	323	410
Cash & Bank	196	208	180	198	111	94	63	14	17	51
	297	351	532	516	509	566	534	507	120	48
Total Assets	1,054	1,101	1,365	1,825	2,398	2,461	2,781	2,864	2,906	2,914
Total Debt	14	21	93	107	134	160	268	387	324	234
Net Working Capital	432	479	441	632	817	808	876	943	992	1,101
Contingent Liabilities	205	46	31	97	115	122	270	248	311	291
Book Value per Share	3077.61	3759.71	42.12	44.56	51.16	57.26	63.56	68.66	70.43	75.50
Face Value	1000.00	1000.00	10.00	10.00	10.00	10.00	10.00	10.00	10.00	10.00
Total Debt	14	21	93	107	134	160	268	387	324	234
Net Working Capital	432	479	441	632	817	808	876	943	992	1,101
Contingent Liabilities	205	46	31	97	115	122	270	248	311	291
Book Value per Share	3077.61	3759.71	42.12	44.56	51.16	57.26	63.56	68.66	70.43	75.50
Face Value	1000.00	1000.00	10.00	10.00	10.00	10.00	10.00	10.00	10.00	10.00

Mar 2016

Equity Capital: 187
: 389
: 0
Trade Payables: 53
: 424
Total Liabilities: 1,054
: 263
Capital Work in Progress: 7
: 2
: 289
: 0
Cash & Bank: 196
: 297
Total Assets: 1,054
Total Debt: 14
Net Working Capital: 432
Contingent Liabilities: 205
Book Value per Share: 3077.61
Face Value: 1000.00
Total Debt: 14
Net Working Capital: 432
Contingent Liabilities: 205
Book Value per Share: 3077.61
Face Value: 1000.00

Mar 2017

Equity Capital: 187
: 517
: 13
Trade Payables: 66
: 318
Total Liabilities: 1,101
: 327
Capital Work in Progress: 6
: 2
: 206
: 0
Cash & Bank: 208
: 351
Total Assets: 1,101
Total Debt: 21
Net Working Capital: 479
Contingent Liabilities: 46
Book Value per Share: 3759.71
Face Value: 1000.00
Total Debt: 21
Net Working Capital: 479
Contingent Liabilities: 46
Book Value per Share: 3759.71
Face Value: 1000.00

Mar 2018

Equity Capital: 187
: 602
: 92
Trade Payables: 96
: 388
Total Liabilities: 1,365
: 344
Capital Work in Progress: 65
: 2
: 241
: 0
Cash & Bank: 180
: 532
Total Assets: 1,365
Total Debt: 93
Net Working Capital: 441
Contingent Liabilities: 31
Book Value per Share: 42.12
Face Value: 10.00
Total Debt: 93
Net Working Capital: 441
Contingent Liabilities: 31
Book Value per Share: 42.12
Face Value: 10.00

Mar 2019

Equity Capital: 187
: 647
: 106
Trade Payables: 128
: 755
Total Liabilities: 1,825
: 425
Capital Work in Progress: 175
: 2
: 509
: 0
Cash & Bank: 198
: 516
Total Assets: 1,825
Total Debt: 107
Net Working Capital: 632
Contingent Liabilities: 97
Book Value per Share: 44.56
Face Value: 10.00
Total Debt: 107
Net Working Capital: 632
Contingent Liabilities: 97
Book Value per Share: 44.56
Face Value: 10.00

Mar 2020

Equity Capital: 187
: 771
: 133
Trade Payables: 129
: 1,177
Total Liabilities: 2,398
: 441
Capital Work in Progress: 405
: 22
: 911
: 0
Cash & Bank: 111
: 509
Total Assets: 2,398
Total Debt: 134
Net Working Capital: 817
Contingent Liabilities: 115
Book Value per Share: 51.16
Face Value: 10.00
Total Debt: 134
Net Working Capital: 817
Contingent Liabilities: 115
Book Value per Share: 51.16
Face Value: 10.00

Mar 2021

Equity Capital: 187
: 885
: 160
Trade Payables: 86
: 1,142
Total Liabilities: 2,461
: 429
Capital Work in Progress: 549
: 22
: 801
: 0
Cash & Bank: 94
: 566
Total Assets: 2,461
Total Debt: 160
Net Working Capital: 808
Contingent Liabilities: 122
Book Value per Share: 57.26
Face Value: 10.00
Total Debt: 160
Net Working Capital: 808
Contingent Liabilities: 122
Book Value per Share: 57.26
Face Value: 10.00

Mar 2022

Equity Capital: 187
: 1,003
: 240
Trade Payables: 176
: 1,174
Total Liabilities: 2,781
: 938
Capital Work in Progress: 132
: 22
: 1,091
: 0
Cash & Bank: 63
: 534
Total Assets: 2,781
Total Debt: 268
Net Working Capital: 876
Contingent Liabilities: 270
Book Value per Share: 63.56
Face Value: 10.00
Total Debt: 268
Net Working Capital: 876
Contingent Liabilities: 270
Book Value per Share: 63.56
Face Value: 10.00

Mar 2023

Equity Capital: 187
: 1,099
: 300
Trade Payables: 146
: 1,132
Total Liabilities: 2,864
: 1,016
Capital Work in Progress: 80
: 22
: 1,225
: 0
Cash & Bank: 14
: 507
Total Assets: 2,864
Total Debt: 387
Net Working Capital: 943
Contingent Liabilities: 248
Book Value per Share: 68.66
Face Value: 10.00
Total Debt: 387
Net Working Capital: 943
Contingent Liabilities: 248
Book Value per Share: 68.66
Face Value: 10.00

Mar 2024

Equity Capital: 187
: 1,132
: 245
Trade Payables: 120
: 1,221
Total Liabilities: 2,906
: 1,032
Capital Work in Progress: 83
: 22
: 1,310
: 323
Cash & Bank: 17
: 120
Total Assets: 2,906
Total Debt: 324
Net Working Capital: 992
Contingent Liabilities: 311
Book Value per Share: 70.43
Face Value: 10.00
Total Debt: 324
Net Working Capital: 992
Contingent Liabilities: 311
Book Value per Share: 70.43
Face Value: 10.00

Mar 2025

Equity Capital: 187
: 1,227
: 175
Trade Payables: 93
: 1,231
Total Liabilities: 2,914
: 1,074
Capital Work in Progress: 25
: 25
: 1,281
: 410
Cash & Bank: 51
: 48
Total Assets: 2,914
Total Debt: 234
Net Working Capital: 1,101
Contingent Liabilities: 291
Book Value per Share: 75.50
Face Value: 10.00
Total Debt: 234
Net Working Capital: 1,101
Contingent Liabilities: 291
Book Value per Share: 75.50
Face Value: 10.00

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
	168	119	20	296	204	176	5	-35	216	217
Cash from Investing	-18	-65	-78	-205	-195	-115	-68	-3	-65	-96
Cash from Financing	-43	-43	25	-78	-13	-37	39	43	-148	-126
	106	12	-33	13	-4	24	-24	4	2	-6
Free Cash Flow	139	119	-75	82	-67	17	-120	-113	139	171
OCF / Net Profit	1.42	0.94	0.15	2.27	1.28	1.06	0.03	-0.23	2.36	1.97
Cumulative 5-Year FCF	0	0	0	0	198	76	-163	-201	-144	93
OCF / Net Profit	1.42	0.94	0.15	2.27	1.28	1.06	0.03	-0.23	2.36	1.97
Cumulative 5-Year FCF	0	0	0	0	198	76	-163	-201	-144	93

Mar 2016

: 168
Cash from Investing: -18
Cash from Financing: -43
: 106
Free Cash Flow: 139
OCF / Net Profit: 1.42
Cumulative 5-Year FCF: 0
OCF / Net Profit: 1.42
Cumulative 5-Year FCF: 0

Mar 2017

: 119
Cash from Investing: -65
Cash from Financing: -43
: 12
Free Cash Flow: 119
OCF / Net Profit: 0.94
Cumulative 5-Year FCF: 0
OCF / Net Profit: 0.94
Cumulative 5-Year FCF: 0

Mar 2018

: 20
Cash from Investing: -78
Cash from Financing: 25
: -33
Free Cash Flow: -75
OCF / Net Profit: 0.15
Cumulative 5-Year FCF: 0
OCF / Net Profit: 0.15
Cumulative 5-Year FCF: 0

Mar 2019

: 296
Cash from Investing: -205
Cash from Financing: -78
: 13
Free Cash Flow: 82
OCF / Net Profit: 2.27
Cumulative 5-Year FCF: 0
OCF / Net Profit: 2.27
Cumulative 5-Year FCF: 0

Mar 2020

: 204
Cash from Investing: -195
Cash from Financing: -13
: -4
Free Cash Flow: -67
OCF / Net Profit: 1.28
Cumulative 5-Year FCF: 198
OCF / Net Profit: 1.28
Cumulative 5-Year FCF: 198

Mar 2021

: 176
Cash from Investing: -115
Cash from Financing: -37
: 24
Free Cash Flow: 17
OCF / Net Profit: 1.06
Cumulative 5-Year FCF: 76
OCF / Net Profit: 1.06
Cumulative 5-Year FCF: 76

Mar 2022

: 5
Cash from Investing: -68
Cash from Financing: 39
: -24
Free Cash Flow: -120
OCF / Net Profit: 0.03
Cumulative 5-Year FCF: -163
OCF / Net Profit: 0.03
Cumulative 5-Year FCF: -163

Mar 2023

: -35
Cash from Investing: -3
Cash from Financing: 43
: 4
Free Cash Flow: -113
OCF / Net Profit: -0.23
Cumulative 5-Year FCF: -201
OCF / Net Profit: -0.23
Cumulative 5-Year FCF: -201

Mar 2024

: 216
Cash from Investing: -65
Cash from Financing: -148
: 2
Free Cash Flow: 139
OCF / Net Profit: 2.36
Cumulative 5-Year FCF: -144
OCF / Net Profit: 2.36
Cumulative 5-Year FCF: -144

Mar 2025

: 217
Cash from Investing: -96
Cash from Financing: -126
: -6
Free Cash Flow: 171
OCF / Net Profit: 1.97
Cumulative 5-Year FCF: 93
OCF / Net Profit: 1.97
Cumulative 5-Year FCF: 93

Ratios

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
PER SHARE	-	-	-	-	-	-	-	-	-	-
EPS (₹)	630.04	674.24	7.01	6.97	8.53	8.88	9.41	8.32	4.87	5.88
Book Value (₹)	3077.61	3759.71	42.12	44.56	51.16	57.26	63.56	68.66	70.43	75.50
Dividend per Share (₹)	189.00	189.00	2.10	2.19	2.56	2.78	3.10	3.35	1.41	0.75
Cash EPS (₹)	7.02	7.69	8.06	8.21	9.92	10.32	11.17	11.15	8.00	9.26
PROFITABILITY	-	-	-	-	-	-	-	-	-	-
Operating Margin %	23.20%	25.86%	33.12%	31.15%	33.03%	32.68%	34.24%	34.00%	18.18%	20.39%
Net Margin %	15.50%	15.60%	19.71%	18.37%	22.41%	20.45%	20.49%	17.88%	8.51%	10.25%
ROE %	21.90%	19.72%	17.58%	16.08%	17.82%	16.38%	15.58%	12.59%	7.01%	8.05%
ROCE %	28.35%	29.14%	25.80%	21.75%	20.59%	20.54%	19.45%	15.55%	10.03%	11.33%
	10.89%	11.72%	10.64%	8.19%	7.57%	6.85%	6.73%	5.52%	3.16%	3.78%
EFFICIENCY	-	-	-	-	-	-	-	-	-	-
Debtor Days	103	112	192	197	166	153	147	130	109	125
Inventory Days	171	112	123	193	363	384	401	485	431	440
Payable Days	103	81	252	217	393	185	250	360	108	90
	171	143	63	172	136	353	298	255	432	474
FINANCIAL HEALTH	-	-	-	-	-	-	-	-	-	-
Debt to Equity (x)	0.02x	0.03x	0.12x	0.13x	0.14x	0.15x	0.22x	0.30x	0.25x	0.17x
Interest Coverage (x)	49.96x	35.55x	22.80x	27.55x	28.74x	18.82x	11.60x	9.05x	4.69x	6.13x
	2.24x	2.93x	2.04x	2.19x	2.17x	2.26x	2.09x	2.18x	2.28x	2.61x
GROWTH	-	-	-	-	-	-	-	-	-	-
Revenue Growth %	10.72%	7.89%	-14.43%	7.43%	0.29%	14.08%	5.69%	1.45%	23.02%	0.13%
Operating Profit Growth %	13.72%	18.50%	5.34%	0.38%	6.34%	12.86%	10.88%	0.60%	-24.11%	11.10%
Net Profit Growth %	15.57%	7.02%	3.92%	-0.54%	22.35%	4.11%	6.02%	-11.59%	-41.45%	20.61%
	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-41.45%	20.61%
VALUATION	-	-	-	-	-	-	-	-	-	-
P/E (x)	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	80.84x	46.38x
P/B (x)	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	5.59x	3.61x
Dividend Yield %	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.36%	0.28%
	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	34.16x	21.16x

Mar 2016

EPS (₹): 630.04
Book Value (₹): 3077.61
Dividend per Share (₹): 189.00
Cash EPS (₹): 7.02
Operating Margin %: 23.20%
Net Margin %: 15.50%
ROE %: 21.90%
ROCE %: 28.35%
: 10.89%
Debtor Days: 103
Inventory Days: 171
Payable Days: 103
: 171
Debt to Equity (x): 0.02x
Interest Coverage (x): 49.96x
: 2.24x
Revenue Growth %: 10.72%
Operating Profit Growth %: 13.72%
Net Profit Growth %: 15.57%
: 0.00%
P/E (x): 0.00x
P/B (x): 0.00x
Dividend Yield %: 0.00%
: 0.00x

Mar 2017

EPS (₹): 674.24
Book Value (₹): 3759.71
Dividend per Share (₹): 189.00
Cash EPS (₹): 7.69
Operating Margin %: 25.86%
Net Margin %: 15.60%
ROE %: 19.72%
ROCE %: 29.14%
: 11.72%
Debtor Days: 112
Inventory Days: 112
Payable Days: 81
: 143
Debt to Equity (x): 0.03x
Interest Coverage (x): 35.55x
: 2.93x
Revenue Growth %: 7.89%
Operating Profit Growth %: 18.50%
Net Profit Growth %: 7.02%
: 0.00%
P/E (x): 0.00x
P/B (x): 0.00x
Dividend Yield %: 0.00%
: 0.00x

Mar 2018

EPS (₹): 7.01
Book Value (₹): 42.12
Dividend per Share (₹): 2.10
Cash EPS (₹): 8.06
Operating Margin %: 33.12%
Net Margin %: 19.71%
ROE %: 17.58%
ROCE %: 25.80%
: 10.64%
Debtor Days: 192
Inventory Days: 123
Payable Days: 252
: 63
Debt to Equity (x): 0.12x
Interest Coverage (x): 22.80x
: 2.04x
Revenue Growth %: -14.43%
Operating Profit Growth %: 5.34%
Net Profit Growth %: 3.92%
: 0.00%
P/E (x): 0.00x
P/B (x): 0.00x
Dividend Yield %: 0.00%
: 0.00x

Mar 2019

EPS (₹): 6.97
Book Value (₹): 44.56
Dividend per Share (₹): 2.19
Cash EPS (₹): 8.21
Operating Margin %: 31.15%
Net Margin %: 18.37%
ROE %: 16.08%
ROCE %: 21.75%
: 8.19%
Debtor Days: 197
Inventory Days: 193
Payable Days: 217
: 172
Debt to Equity (x): 0.13x
Interest Coverage (x): 27.55x
: 2.19x
Revenue Growth %: 7.43%
Operating Profit Growth %: 0.38%
Net Profit Growth %: -0.54%
: 0.00%
P/E (x): 0.00x
P/B (x): 0.00x
Dividend Yield %: 0.00%
: 0.00x

Mar 2020

EPS (₹): 8.53
Book Value (₹): 51.16
Dividend per Share (₹): 2.56
Cash EPS (₹): 9.92
Operating Margin %: 33.03%
Net Margin %: 22.41%
ROE %: 17.82%
ROCE %: 20.59%
: 7.57%
Debtor Days: 166
Inventory Days: 363
Payable Days: 393
: 136
Debt to Equity (x): 0.14x
Interest Coverage (x): 28.74x
: 2.17x
Revenue Growth %: 0.29%
Operating Profit Growth %: 6.34%
Net Profit Growth %: 22.35%
: 0.00%
P/E (x): 0.00x
P/B (x): 0.00x
Dividend Yield %: 0.00%
: 0.00x

Mar 2021

EPS (₹): 8.88
Book Value (₹): 57.26
Dividend per Share (₹): 2.78
Cash EPS (₹): 10.32
Operating Margin %: 32.68%
Net Margin %: 20.45%
ROE %: 16.38%
ROCE %: 20.54%
: 6.85%
Debtor Days: 153
Inventory Days: 384
Payable Days: 185
: 353
Debt to Equity (x): 0.15x
Interest Coverage (x): 18.82x
: 2.26x
Revenue Growth %: 14.08%
Operating Profit Growth %: 12.86%
Net Profit Growth %: 4.11%
: 0.00%
P/E (x): 0.00x
P/B (x): 0.00x
Dividend Yield %: 0.00%
: 0.00x

Mar 2022

EPS (₹): 9.41
Book Value (₹): 63.56
Dividend per Share (₹): 3.10
Cash EPS (₹): 11.17
Operating Margin %: 34.24%
Net Margin %: 20.49%
ROE %: 15.58%
ROCE %: 19.45%
: 6.73%
Debtor Days: 147
Inventory Days: 401
Payable Days: 250
: 298
Debt to Equity (x): 0.22x
Interest Coverage (x): 11.60x
: 2.09x
Revenue Growth %: 5.69%
Operating Profit Growth %: 10.88%
Net Profit Growth %: 6.02%
: 0.00%
P/E (x): 0.00x
P/B (x): 0.00x
Dividend Yield %: 0.00%
: 0.00x

Mar 2023

EPS (₹): 8.32
Book Value (₹): 68.66
Dividend per Share (₹): 3.35
Cash EPS (₹): 11.15
Operating Margin %: 34.00%
Net Margin %: 17.88%
ROE %: 12.59%
ROCE %: 15.55%
: 5.52%
Debtor Days: 130
Inventory Days: 485
Payable Days: 360
: 255
Debt to Equity (x): 0.30x
Interest Coverage (x): 9.05x
: 2.18x
Revenue Growth %: 1.45%
Operating Profit Growth %: 0.60%
Net Profit Growth %: -11.59%
: 0.00%
P/E (x): 0.00x
P/B (x): 0.00x
Dividend Yield %: 0.00%
: 0.00x

Mar 2024

EPS (₹): 4.87
Book Value (₹): 70.43
Dividend per Share (₹): 1.41
Cash EPS (₹): 8.00
Operating Margin %: 18.18%
Net Margin %: 8.51%
ROE %: 7.01%
ROCE %: 10.03%
: 3.16%
Debtor Days: 109
Inventory Days: 431
Payable Days: 108
: 432
Debt to Equity (x): 0.25x
Interest Coverage (x): 4.69x
: 2.28x
Revenue Growth %: 23.02%
Operating Profit Growth %: -24.11%
Net Profit Growth %: -41.45%
: -41.45%
P/E (x): 80.84x
P/B (x): 5.59x
Dividend Yield %: 0.36%
: 34.16x

Mar 2025

EPS (₹): 5.88
Book Value (₹): 75.50
Dividend per Share (₹): 0.75
Cash EPS (₹): 9.26
Operating Margin %: 20.39%
Net Margin %: 10.25%
ROE %: 8.05%
ROCE %: 11.33%
: 3.78%
Debtor Days: 125
Inventory Days: 440
Payable Days: 90
: 474
Debt to Equity (x): 0.17x
Interest Coverage (x): 6.13x
: 2.61x
Revenue Growth %: 0.13%
Operating Profit Growth %: 11.10%
Net Profit Growth %: 20.61%
: 20.61%
P/E (x): 46.38x
P/B (x): 3.61x
Dividend Yield %: 0.28%
: 21.16x

Shareholding Pattern

Numbers in percentages

TRADES

	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	74.00	74.00	74.00	74.00	74.00	74.00	74.00	74.00	74.00
	1.27	1.42	1.26	1.65	1.34	1.37	1.25	1.32	2.57
	9.33	8.44	8.48	8.79	8.98	8.83	7.92	7.81	7.37
Government	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	15.40	16.13	16.25	15.56	15.68	15.80	16.82	16.86	16.06

Jun 2024

: 74.00
: 1.27
: 9.33
Government: 0.00
: 15.40

Sep 2024

: 74.00
: 1.42
: 8.44
Government: 0.00
: 16.13

Dec 2024

: 74.00
: 1.26
: 8.48
Government: 0.00
: 16.25

Mar 2025

: 74.00
: 1.65
: 8.79
Government: 0.00
: 15.56

Jun 2025

: 74.00
: 1.34
: 8.98
Government: 0.00
: 15.68

Sep 2025

: 74.00
: 1.37
: 8.83
Government: 0.00
: 15.80

Dec 2025

: 74.00
: 1.25
: 7.92
Government: 0.00
: 16.82

Mar 2026

: 74.00
: 1.32
: 7.81
Government: 0.00
: 16.86

Jun 2026

: 74.00
: 2.57
: 7.37
Government: 0.00
: 16.06

Documents

Announcements

Change in Director(s)
2026-08-21 - Mishra Dhatu Nigam Limited has informed the Exchange regarding Change in Director(s) of the company.
Analysts/Institutional Investor Meet/Con. Call Updates
2026-08-17 - Mishra Dhatu Nigam Limited has informed the Exchange about Link of Recording

Annual Reports

Credit Ratings

Nothing filed yet.

Concalls

Jun 2026
TranscriptPPTREC
Feb 2026
TranscriptPPTREC
Nov 2025
TranscriptPPTREC