āagman

Not investment advice. Data and computed figures, for information only.

Mishra Dhatu Nigam Ltd

NSE: MIDHANI
₹418.05
−₹14.35 (−3.32%)
NSE · 15 Oct 2026, close
NSE
As of 31 Mar 2026
Market Cap
₹8,252 Cr
CMP
₹418.05
52-wk High / Low
₹482 / 267
P/E
61.1
P/B
5.4
Book Value
₹81.8
Div Yield
0.19%
ROCE
11.0%
ROE
8.9%
Face Value
₹10
D/E
0.27

Price+7.6% over 1Y

āagman read

Computed by āagman
Derived from 8 years and 13 quarters of filings. Not reported by the company.
As of 15 Oct 2026
How we compute these
Piotroski F-Score
6
/ 9
6 of 9 F-score tests passed
Graham Number
₹114
√(22.5 × EPS × book value per share)
ROIC
6.3%
vs 12.3% sector median
Cash flow to profit
1.18
CFO / PAT
Above 1.0 = operating cash flow exceeded reported profit
Margin change
−452
bps OPM YoY
Operating margin vs the same quarter last year
Sustainable growth
7.9%
ROE × earnings retention ratio
ROE stability
3.0
pp σ
Standard deviation of ROE across periods. Lower = more stable
Holder deltas
QoQ
pp
Prom +0.00FII +1.25DII −0.44
Latest quarter vs the previous one
Cash-accrual divergence
−0.8%
of assets
Low = accruals track cash flow
Strengths
+Price trades above its 200-day moving average (1.1x)
+FII holding rose by 2.0pp over the last year
Watch-outs
−Latest ROCE of 11% trails the sector median of 19%
−Annualised volatility of 45.1% is in the high band (≥45%)

Peer comparison

Peers
NameP/EMar Cap ₹ CrROCE %ROE %

Quarterly results

Consolidated basis (as filed) · ₹ Cr · 13 quarters
As of 30 Jun 2026
Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales188227252406163262238411170210276553239
Expenses146191216325140213186317136177221437203
Operating Profit423636802349529334335511637
OPM %22.3%15.9%14.3%19.7%14.1%18.7%21.8%22.6%20.0%15.7%19.9%21.0%15.5%
Other Income887889787981510
Interest9998787766676
Depreciation14141415151616161617171717
Profit before tax27211965934367719193910724
Net Profit1914134652426561313287816
EPS (₹)1.000.740.682.470.281.271.363.000.690.691.484.160.88

Profit & Loss

As of 30 Jun 2026
Consolidated · ₹ Cr · 8 years + TTM
Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales7117138138598721,0731,0741,2091,278
Expenses5265155675966138788559701,038
Operating Profit185197246263259195219239240
OPM %26.0%27.6%30.3%30.6%29.7%18.2%20.4%19.8%18.8%
Other Income373620323830323942
Interest7713232735302625
Depreciation232627335359636667
Profit before tax191200226239217131157185190
Net Profit13115816617715692111131135
EPS (₹)6.978.448.889.438.344.905.927.027.21

Balance Sheet

As of 30 Jun 2026
Consolidated · ₹ Cr
Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026Jun 2026
Equity Capital187187187187187187187187—
Reserves6477698841,0021,0981,1321,2281,345—
Borrowings107134160268489433350407—
Other Liabilities8831,3061,2281,3221,0891,1541,1501,282—
Total Liabilities1,8252,3962,4592,7792,8632,9052,9153,221—
Fixed Assets4254414299381,0161,0321,0741,066—
CWIP17540554913280832516—
Investments220212121222524—
Other Assets1,2231,5301,4611,6881,7461,7691,7902,115—
Total Assets1,8252,3962,4592,7792,8632,9052,9153,221—

Cash Flows

As of 31 Mar 2026
Consolidated · ₹ Cr
Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity29620417652−35216217155
Cash from Investing Activity−205−195−115−103−3−65−96−150
Cash from Financing Activity−78−13−372743−148−12616
Net Cash Flow13−424−2442−621

Ratios

As of 31 Mar 2026
8 periods
Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
ROCE %—20.021.019.015.09.011.011.0
ROE %———————8.9
EPS (₹)6.978.448.889.438.344.905.927.02
Book Value (₹)———————81.8
Face Value (₹)———————10
P/E———————61.1
Div Yield %———————0.19
NPM %17.521.119.919.917.18.310.010.5
OPM %26.028.030.031.030.018.020.020.0
D/E0.130.140.150.230.380.330.250.27
P/B———————5.4

Growth

As of 11 Oct 2026
Compounded sales growth
5 years+8.0%
3 years+12.0%
TTM+18.0%
Compounded profit growth
5 years−5.0%
3 years−6.0%
TTM+14.0%
Stock price CAGR
5 years+17.0%
3 years+0.0%
Last year+13.0%
Return on equity
5 years10.0%
3 years8.0%
Last year9.0%

Shareholding pattern

As of 31 Dec 2025
Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Promoters74.00%74.00%74.00%74.00%74.00%74.00%74.00%74.00%74.00%74.00%74.00%
FIIs0.00%0.00%0.51%0.72%0.44%0.31%0.58%1.07%1.65%1.32%2.57%
DIIs18.62%18.62%19.50%18.78%14.19%14.74%13.82%11.04%8.79%7.81%7.37%
Government———————————
Public7.38%7.38%5.99%6.50%11.37%10.95%11.61%13.88%15.55%16.85%16.06%
No. of shareholders38,20138,20132,64642,77887,62086,50582,4631,23,0071,57,1061,64,3311,54,762
Change since Jun 2023 (pp)
Promoters +0.00FIIs +2.57DIIs −11.25Public +8.68

Documents

As of 11 Oct 2026
Announcements
Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018Announcement under Regulation 30 (LODR)-Change in ManagementShareholder Meeting / Postal Ballot-Scrutinizer''s ReportShareholder Meeting / Postal Ballot-Outcome of AGMAnnouncement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation
Annual reports
Annual Report 2026Annual Report 2025Annual Report 2024Annual Report 2023Annual Report 2022
Credit ratings
Rating updateRating updateRating updateRating updateRating update
Concalls
Aug 2026TranscriptAug 2026RecordingJun 2026TranscriptJun 2026RecordingFeb 2026TranscriptNov 2025TranscriptNov 2025RecordingAug 2025Transcript

Corporate actions

As of 23 Sep 2026
23 Sep 2026DIVIDENDDividend - Rs 1.25 Per Share—
18 Mar 2026DIVIDENDInterim Dividend - Re 0.85 Per Share—
25 Mar 2025DIVIDENDInterim Dividend - Re 0.75 Per Share—
22 Mar 2024DIVIDENDInterim Dividend - Rs 1.41 Per Share—
22 Sep 2023DIVIDENDDividend - Rs 1.67 Per Share—
23 Mar 2023DIVIDENDInterim Dividend - Rs 1.68 Per Share—
21 Sep 2022DIVIDENDDividend - Rs 1.54 Per Share—
22 Mar 2022DIVIDENDInterim Dividend - Rs 1.56 Per Share—
21 Sep 2021DIVIDEND Dividend - Rs 1.58 Per Share—
22 Mar 2021DIVIDEND Interim Dividend - Rs 1.20 Per Share—
21 Sep 2020DIVIDEND Annual General Meeting/Dividend - Rs 1.56 Per Share—
12 Mar 2020DIVIDEND Interim Dividend - Re 1 Per Share—
17 Sep 2019DIVIDEND Annual General Meeting/Dividend - Rs 0.51 Per Share—
25 Mar 2019DIVIDEND Interim Dividend - Rs 1.68 Per Share—
19 Sep 2018DIVIDEND Annual General Meeting/Dividend- Rs 2.10 Per Share—
Fundamentals from a third-party compiler of exchange filings; prices from the exchanges. Not investment advice.© 2026 āagman