Mishra Dhatu NigamNSE:MIDHANI -5.06%81 Operating Margin % is 18.70% as of Mar. 2026, which is 23% below its 10-year median of 24.30. GuruFocus rates NSE:MIDHANI with a GF Score™ of 81/100 and a GF Value™ of ₹460.41 (Modestly Undervalued). The stock has 5 warning signs investors should review. Among 615 Steel companies, Mishra Dhatu Nigam ranks better than 91.38% on this metric.
Just like Gross Margin %, it is important to see a company maintains its operating margin over time. Among the same industry, a company with higher operating margin is more efficient in its operation. It is also more stable during industry slowdown or recessions. Peter Lynch prefers those with higher margins than those with lower margins.
Be Aware
Operating Margin % can be manipulated by adjusting the rate of depreciation, depletion and amortization (DDA).
If a company is facing competition, its Operating Margin % may decline. Often the Operating Margin % declines well before the company's Revenue or even profit decline. Therefore, Operating Margin % is a very important indicator of whether the company is facing problems.
For instance, by 2012, Nokia (NOK)'s problems were well known and its stock had lost more than 90% of its market value since 2007. But Nokias Operating Margin % had already been in decline since 2002, although its Earnings per Share (Diluted) were still rising. Investors who paid attention to Operating Margin % would have avoided this huge loss. The same can be said for Research-in-Motion (RIMM).
Therefore, Operating Margin % is a very important screening filter for GuruFocus. GuruFocus's Buffett-Munger screener requires that the profit margin is either consistent or expanding. The Model Portfolio of the Buffett-Munger screener has outperformed the market every year since inception in 2009.
Mishra Dhatu Nigam Operating Margin % Related Terms
Mishra Dhatu Nigam Operating Margin % Historical Data
* Premium members only.
The historical data trend for Mishra Dhatu Nigam's Operating Margin % can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
NSE:MIDHANI vs NUE, STLD, RS: Operating Margin % Comparison
For the Steel subindustry, Mishra Dhatu Nigam's Operating Margin %, along with its competitors' market caps and Operating Margin % data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Mishra Dhatu Nigam Operating Margin % vs Steel Industry
For the Steel industry and Basic Materials sector, Mishra Dhatu Nigam's Operating Margin % distribution charts can be found below:
* The bar in red indicates where Mishra Dhatu Nigam's Operating Margin % falls into.
Operating Margin % - also known as operating income margin, operating profit margin and return on sales (ROS) - is the ratio of Operating Income divided by net sales or Revenue, usually presented in percent.
Mishra Dhatu Nigam's Operating Margin % for the fiscal year that ended in Mar. 2026 is calculated as
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Mishra Dhatu Nigam (NSE:MIDHANI) has a Operating Margin % of 18.70% as of Mar. 2026. Operating margin is the ratio of total operating income to net sales. View historical data on Mishra Dhatu Nigam and its competitors. This is 23% below median its historical median of 24.30. Over the past decade, Mishra Dhatu Nigam's Operating Margin % has ranged from 14.48 to 28.00. According to the industry distribution chart, Mishra Dhatu Nigam ranks #53 out of 615 companies in the Steel industry, placing it in the top 8.6%.
Is Mishra Dhatu Nigam's Operating Margin % too high?
Mishra Dhatu Nigam's current Operating Margin % of 18.70% is 23% below median its 10-year median of 24.30. Over the past 10 years, this metric has ranged from a low of 14.48 to a high of 28.00. The Steel industry median Operating Margin % is 2.99. Mishra Dhatu Nigam's value of 18.70% is 525.4% above this industry median. Based on the distribution chart, Mishra Dhatu Nigam ranks #53 out of 615 companies in the Steel industry, which is in the top quartile — a strong position relative to peers. Overall, Mishra Dhatu Nigam has a GF Score™ of 81/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Mishra Dhatu Nigam's Operating Margin % compare to NUE and STLD?
According to the Steel industry distribution chart, Mishra Dhatu Nigam ranks #53 out of 615 companies for Operating Margin %. This places Mishra Dhatu Nigam in the top 9% of its industry — outperforming the majority of peers. The industry median Operating Margin % is 2.99. Mishra Dhatu Nigam's value of 18.70% is 525.4% above this benchmark. Historically, Mishra Dhatu Nigam's own Operating Margin % has ranged from 14.48 to 28.00 over the past decade. While the company's 10-year median is 24.30 vs. the industry median of 2.99, Mishra Dhatu Nigam has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Operating Margin % for a Steel company?
The median Operating Margin % among Steel companies is 2.99, based on 615 companies in the industry. Companies in the top quartile (top 25%) have a Operating Margin % significantly above this median, while those in the bottom quartile fall well below. However, Operating Margin % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Mishra Dhatu Nigam's current Operating Margin % of 18.70% is 525.4% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Operating Margin % mean?
A high Operating Margin % can signal that a stock is expensive relative to its fundamentals. Operating margin is the ratio of total operating income to net sales. View historical data on Mishra Dhatu Nigam and its competitors. For the Steel industry, the median Operating Margin % is 2.99 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Mishra Dhatu Nigam's current Operating Margin % is 18.70%, which is 23% below median its own 10-year median of 24.30. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Mishra Dhatu Nigam stock overvalued right now?
Based on GuruFocus' analysis, Mishra Dhatu Nigam (NSE:MIDHANI) is currently considered Modestly Undervalued. The stock's GF Value™ is ₹460.41, compared to a current price of ₹413.05 — trading 10.3% below its estimated fair value. The current Operating Margin % is 18.70%, which is 23% below median its 10-year median of 24.30 and 525.4% above the Steel industry median of 2.99. Mishra Dhatu Nigam's overall GF Score™ is 81/100 with 5 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Operating Margin % calculated?
Operating Margin % is calculated from a company's financial statements. For Mishra Dhatu Nigam (NSE:MIDHANI), the current Operating Margin % is 18.70% as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Mishra Dhatu Nigam (NSE:MIDHANI) Overvalued in 2026?
Based on GuruFocus' analysis, Mishra Dhatu Nigam stock appears to be undervalued.
The current stock price of ₹413.05 is trading 10.3% below its estimated GF Value™ of ₹460.41.
GuruFocus considers Mishra Dhatu Nigam to be Modestly Undervalued.
Key valuation signals for NSE:MIDHANI:
Operating Margin %: 18.70% (23% below median its 10-year median of 24.30)
GF Value™: ₹460.41 vs. price of ₹413.05 (10.3% below fair value)
Industry Position: 525.4% above the Steel median (#53 of 615)
No single metric tells the full story. See the NSE:MIDHANI stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Mishra Dhatu Nigam Ltd is engaged in the business of manufacturing superalloys, titanium, special purpose steel, and other special metals. Its product portfolio includes titanium and titanium alloys, special steel, fasteners, investment castings, open-die forgings, and others. Geographically, the company caters to both Indian and international markets, of which, a majority of its revenue is derived from its business in India.
81GF Score
Get the complete analysis for NSE:MIDHANI
Operating Margin % is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
NSE:MIDHANI has been successfully added to your 
