Q3 2026 Mishra Dhatu Nigam Ltd Earnings Call Transcript
Key Points
- Mishra Dhatu Nigam Ltd (NSE:MIDHANI) reported a robust 31.44% growth in turnover for the third quarter, reaching INR275.66 crore.
- The company achieved a significant milestone by supplying titanium alloy windows for the Ram Janmabhoomi at Ayodhya, marking the first architectural use of titanium in India.
- MIDHANI's order book as of January 1, 2026, stands at INR2,440 crore, indicating strong future demand.
- The company has been certified by CEMILAC for its super alloys, showcasing its capability in supplying high-quality materials.
- MIDHANI is actively engaged in discussions with international aerospace companies, including Safran, to supply performance-critical materials, indicating potential future growth in exports.
- Despite the growth in turnover, the nine-month period turnover was slightly lower at INR655.88 crore compared to INR663.54 crore last year.
- The Utkarsha Dhatu Nigam Limited joint venture with NALCO has been recommended for closure due to non-viability, impacting future aluminum alloy production plans.
- The company faces challenges in sourcing titanium sponge domestically, leading to reliance on imports from East European nations.
- MIDHANI's metal bank initiative, while underway, will not impact the company's working capital as the inventory is held in the books of customers.
- The company is still in the process of obtaining NADCAP certification, with some minor queries pending, which could delay international business opportunities.
Ladies and gentlemen, good day, and welcome to MIDHANI Q3 FY '26 earnings conference call hosted by ICICI Securities. (Operator Instructions) Please note that this conference is being recorded. I now hand the conference over to Mr. Vikas Singh from ICICI Securities. Thank you, and over to you, sir.
Thank you, Danesh. Good morning, everyone. Welcome to Mishra Dhatu Nigam Q3 FY '26 results conference call. We would like to thank the management to give us the opportunity to host them.
From the management side, we have with us Dr. S.V.S. Narayana Murty, Chairman of Managing Director; Mrs. Madhubala Kalluri, Director Finance; and Mr. P. Babu, Director Production and Marketing. Without taking any much time, I'll hand over to management for their opening remarks. Over to you, sir.
Okay. So good morning, everyone. I, Dr. S.V.S. Narayana Murty, Chairman and Managing Director of Mishra Dhatu
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