Midhani achieves all time high sales turnover for over Rs. 800 Cr 

Hyderabad, April 3 (Maxim News): Hyderabad based Mishra Dhatu Nigam Limited (MIDHANI), a Mini Ratna Defence Public Sector Undertaking achieved best ever performance amongst all Defence Public Sector undertaking by achieving a MoU Score of 97.06% during the year 2015-16 and has recorded an all time high Sales Turnover of over Rs. 800 Cr., a growth of about 8% over previous year, Profit Before Tax of more than Rs. 175 Cr.

During the financial year 2016-17 with the best ever value added per employee highest amongst all Defence PSUs said Dr. Dinesh Kumar Likhi, Chairman & Managing Director while announcing the provisional results here today.

The company has registered impressive growth over the years and is now poised to venture into new business areas such as Al-Alloys, Tungsten Powder, Springs and Solar power area. Various technology initiatives during the year will put MIDHANI at par with its Global peers. The overall performance during the year will be an impetus to strengthen our Defence related business strategy and to also leverage Governments “Make In India” initiative said Dr. Likhi.

MIDHANI set up as a special metals and Super alloys plant for manufacturing critical materials required in the strategic sectors of India’s Defence industry and to also support programmes of national importance in strategic sectors including Space, Aeronautics, Atomic energy and General Engineering. The special metals and alloys manufactured at MIDHANI are designed to reduce India’s reliance on foreign suppliers and achieve self-sufficiency. (Maxim News)