Mishra Dhatu Nigam Limited — Investor Meet, 21-02-2026: Analysts/Institutional Investor Meet/Con. Call Updates

MIDHANI's Q3 FY26 saw turnover jump 31.44% QoQ to INR275.66 Cr, with PAT more than doubling to INR27.46 Cr. Nine-month performance showed stable profits despite marginal revenue moderation. The robust order book is INR2,594 Cr with a 2-year execution plan; 72% from defense, 29% titanium alloys.

Big wins include supplying titanium windows for Ram Mandir and material for the Republic Day Dais. Management is pushing for aerospace opportunities like AMCA, with titanium capacity nearing full utilization. The goal is to hit INR2,000 Cr revenue in 10 years via strategic capex, targeting 20% annual growth.

A customer-owned metal bank is coming to secure raw material supply, and MIDHANI is eyeing a major bulletproof jacket tender. The new helical spring plant for Vande Bharat is seeking approvals, and export markets are on the radar. Expect ~23% EBITDA margins. Confident outlook on growth & indigenization!