State-owned specialty metals and alloys producer Mishra Dhatu Nigam Ltd (MIDHANI) reported a 45.6% year-on-year decline in net profit to ₹12.95 crore for the quarter ended September 2025, compared to ₹23.82 crore a year earlier.
The company’s revenue fell 20% to ₹209.7 crore, down from ₹262.1 crore, while EBITDA declined 32.8% to ₹32.5 crore against ₹49.06 crore in the same quarter last year. Operating margins also narrowed to 15.7% from 18.7% year-on-year, impacted by lower execution and cost pressures.
Despite the subdued quarterly performance, the company maintained a robust order book of ₹1,869 crore as of October 1, 2025, supported by steady demand from the defence, aerospace, and energy sectors.
Chairman and Managing Director N Gowri Sankara Rao had earlier told CNBC-TV18 that the company expects higher production orders in FY26, particularly from the Naval and Aerospace sectors, which could further boost turnover.
He also noted that MIDHANI’s exports have grown steadily over the past three years, with rising orders from global OEMs such as Boeing, Airbus, and GE.
