MIDHANI hands over Rs 21.62 as interim dividend to Defence Minister

New Delhi: Defence PSU Mishra Dhatu Nigam Limited (MIDHANI) today handed over an interim dividend cheque to Defence Minister Rajnath Singh in New Delhi.

Mr Singh received an interim dividend cheque of Rs 21.62 cr for the financial year 2021-22 from Chairman and Managing Director of MIDHANI Dr Sanjay Kumar Jha. Defence Secretary Dr Ajay Kumar and Addition Secretary (Defence Production) Sanjay Jaju were also present during the event.

MIDHANI a mid-cap company, was incorporated in 1973. It operates in Metals and Ferrous sector and has a market cap of Rs 3120.15 crore.

MIDHANI has performed well over the last five years. The shares of MIDHANI continue to trade over and above the issue price of Rs 90 per share. Import substitution of high-pressure discs for the compressor of Adour MK 811 engines for Jaguar fighter plane and 74 kg titanium casting for naval application are some of the prominent achievements.

Presently, more than 70 percent of MIDHANI's products (value-wise) cater to strategic customers viz. Defence Research & Development Organisation (DRDO), Indian Space Research Organisation (ISRO), Hindustan Aeronautics Ltd (HAL), and Department of Atomic Energy (DAE) etc. In addition, MIDHANI also supplies special alloys and products to the commercial sector, including Larsen & Toubro, BHEL, Titanium equipment etc.

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