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Mishra Dhatu NigamNSE:MIDHANI -0.48%81 Return-on-Tangible-Equity is 20.39% as of Mar. 2026, which is 28% above its 10-year median of 15.88. GuruFocus rates NSE:MIDHANI with a GF Score™ of 81/100 and a GF Value™ of ₹467.18 (Modestly Undervalued). The stock has 5 warning signs investors should review. Among 615 Steel companies, Mishra Dhatu Nigam ranks better than 72.52% on this metric.
Return-on-Tangible-Equity is calculated as Net Income divided by its average total shareholder tangible equity. Total shareholder tangible equity equals to Total Stockholders Equity minus Intangible Assets. Mishra Dhatu Nigam's annualized net income for the quarter that ended in Mar. 2026 was ₹3,116 Mil. Mishra Dhatu Nigam's average shareholder tangible equity for the quarter that ended in Mar. 2026 was ₹15,281 Mil. Therefore, Mishra Dhatu Nigam's annualized Return-on-Tangible-Equity for the quarter that ended in Mar. 2026 was 20.39%.
The historical rank and industry rank for Mishra Dhatu Nigam's Return-on-Tangible-Equity or its related term are showing as below:
NSE:MIDHANI'
s Return-on-Tangible-Equity Range Over the Past 10 Years
Min: 7.07 Med: 15.88 Max: 19.12
Current: 9.01
During the past 13 years, Mishra Dhatu Nigam's highest Return-on-Tangible-Equity was 19.12%. The lowest was 7.07%. And the median was 15.88%.
NSE:MIDHANI's Return-on-Tangible-Equity is ranked better than 72.52% of 615
companies
in the Steel industry
Industry Median: 4.1
vs NSE:MIDHANI: 9.01
Return-on-Tangible-Equity measures the rate of return on the ownership interest (shareholder's tangible equity) of the common stock owners. It measures a firm's efficiency at generating profits from every unit of shareholders' tangible equity (shareholders equity minus intangibles). Return-on-Tangible-Equity shows how well a company uses investment funds to generate earnings growth. Return-on-Tangible-Equitys between 15% and 20% are considered desirable.
Be Aware
Net Income is used.
Because a company can increase its Return-on-Tangible-Equity by having more financial leverage, it is important to watch the leverage ratio when investing in high Return-on-Tangible-Equity companies. Like Return-on-Tangible-Asset, Return-on-Tangible-Equity is calculated with only 12 months data. Fluctuations in company's earnings or business cycles can affect the ratio drastically. It is important to look at the ratio from a long term perspective.
Asset light businesses require very few assets to generate very high earnings. Their Return-on-Tangible-Equitys can be extremely high.
Mishra Dhatu Nigam Return-on-Tangible-Equity Related Terms
Mishra Dhatu Nigam Return-on-Tangible-Equity Historical Data
* Premium members only.
The historical data trend for Mishra Dhatu Nigam's Return-on-Tangible-Equity 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: Return-on-Tangible-Equity Comparison
For the Steel subindustry, Mishra Dhatu Nigam's Return-on-Tangible-Equity, along with its competitors' market caps and Return-on-Tangible-Equity 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 Return-on-Tangible-Equity vs Steel Industry
For the Steel industry and Basic Materials sector, Mishra Dhatu Nigam's Return-on-Tangible-Equity distribution charts can be found below:
* The bar in red indicates where Mishra Dhatu Nigam's Return-on-Tangible-Equity falls into.
* 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.
In the calculation of annual Return-on-Tangible-Equity, the net income of the last fiscal year and the average total shareholder tangible equity over the fiscal year are used. In calculating the quarterly data,
the net income data used here is four times the quarterly (Mar. 2026) net income data.
Return-on-Tangible-Equity is displayed in the 10-year financial page.
What does a Return-on-Tangible-Equity of 20.39% mean?
Mishra Dhatu Nigam (NSE:MIDHANI) has a Return-on-Tangible-Equity of 20.39% as of Mar. 2026. Return on tangible equity is the ratio of current-period net income to average two-period tangible equity. View historical data on Mishra Dhatu Nigam and its competitors. This is 28% above median its historical median of 15.88. Over the past decade, Mishra Dhatu Nigam's Return-on-Tangible-Equity has ranged from 7.07 to 19.12. According to the industry distribution chart, Mishra Dhatu Nigam ranks #169 out of 615 companies in the Steel industry, placing it in the top 27.5%.
Is Mishra Dhatu Nigam's Return-on-Tangible-Equity too high?
Mishra Dhatu Nigam's current Return-on-Tangible-Equity of 20.39% is 28% above median its 10-year median of 15.88. Over the past 10 years, this metric has ranged from a low of 7.07 to a high of 19.12. The Steel industry median Return-on-Tangible-Equity is 4.10. Mishra Dhatu Nigam's value of 20.39% is 397.3% above this industry median. Based on the distribution chart, Mishra Dhatu Nigam ranks #169 out of 615 companies in the Steel industry, which is above the industry midpoint. 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 Return-on-Tangible-Equity compare to NUE and STLD?
According to the Steel industry distribution chart, Mishra Dhatu Nigam ranks #169 out of 615 companies for Return-on-Tangible-Equity. This puts Mishra Dhatu Nigam in the upper half of its industry. The industry median Return-on-Tangible-Equity is 4.10. Mishra Dhatu Nigam's value of 20.39% is 397.3% above this benchmark. Historically, Mishra Dhatu Nigam's own Return-on-Tangible-Equity has ranged from 7.07 to 19.12 over the past decade. While the company's 10-year median is 15.88 vs. the industry median of 4.10, 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 Return-on-Tangible-Equity for a Steel company?
The median Return-on-Tangible-Equity among Steel companies is 4.10, based on 615 companies in the industry. Companies in the top quartile (top 25%) have a Return-on-Tangible-Equity significantly above this median, while those in the bottom quartile fall well below. However, Return-on-Tangible-Equity should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Mishra Dhatu Nigam's current Return-on-Tangible-Equity of 20.39% is 397.3% 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 Return-on-Tangible-Equity mean?
A high Return-on-Tangible-Equity can signal that a stock is expensive relative to its fundamentals. Return on tangible equity is the ratio of current-period net income to average two-period tangible equity. View historical data on Mishra Dhatu Nigam and its competitors. For the Steel industry, the median Return-on-Tangible-Equity is 4.10 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Mishra Dhatu Nigam's current Return-on-Tangible-Equity is 20.39%, which is 28% above median its own 10-year median of 15.88. 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 ₹467.18, compared to a current price of ₹392.70 — trading 15.9% below its estimated fair value. The current Return-on-Tangible-Equity is 20.39%, which is 28% above median its 10-year median of 15.88 and 397.3% above the Steel industry median of 4.10. 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 Return-on-Tangible-Equity calculated?
Return-on-Tangible-Equity is calculated from a company's financial statements. For Mishra Dhatu Nigam (NSE:MIDHANI), the current Return-on-Tangible-Equity is 20.39% 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 ₹392.70 is trading 15.9% below its estimated GF Value™ of ₹467.18.
GuruFocus considers Mishra Dhatu Nigam to be Modestly Undervalued.
Key valuation signals for NSE:MIDHANI:
Return-on-Tangible-Equity: 20.39% (28% above median its 10-year median of 15.88)
GF Value™: ₹467.18 vs. price of ₹392.70 (15.9% below fair value)
Industry Position: 397.3% above the Steel median (#169 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
Return-on-Tangible-Equity is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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