Mishra Dhatu Nigam (MIDHANI) MIDHANI
Naval Shipbuilding & Defence Shipyards: Titanium alloys and maraging steel for submarine hulls and missile casings
Mapped in 3 themes: Naval Shipbuilding & Defence Shipyards, Aerospace Component Manufacturing & MRO and Defence Procurement (DAC approvals).
Where Mishra Dhatu Nigam (MIDHANI) sits in the supply chain
Mishra Dhatu Nigam (MIDHANI) appears in 3 supply-chain layers across 3 themes: Naval Shipbuilding & Defence Shipyards, Aerospace Component Manufacturing & MRO and Defence Procurement (DAC approvals).
Naval Shipbuilding & Defence Shipyards › Hull, Steel Plates & Structural Metallurgy
Direct supplierTitanium alloys and maraging steel for submarine hulls and missile casings
Other companies in this layer
Aerospace Component Manufacturing & MRO › Forgings, Castings & Special Alloys
Direct supplierIndia's only domestic producer of titanium alloys & aerospace superalloys - sole/key supplier to HAL, ISRO, DRDO
Other companies in this layer
Defence Procurement (DAC approvals) › Special alloys, forgings & castings
Direct supplierGovernment-owned maker of superalloys, titanium alloys and armour for aero engines, missiles and space
Other companies in this layer
Revenue and profit
| ₹ Cr | FY24 | FY25 | FY26 |
|---|---|---|---|
| Revenue | 1,073 | 1,074 | 1,209 |
| Net profit | 92 | 111 | 131 |
Latest-year revenue ₹1,209 Cr (FY26, company-wide). Wider screens show FY22 onwards.
Strengths · in Naval Shipbuilding & Defence Shipyards
- Government-owned, near-sole domestic source of submarine-grade titanium alloys and maraging steel - materials with long qualification cycles that give it durable, hard-to-contest positioning on every submarine programme
Risks · in Naval Shipbuilding & Defence Shipyards
- Revenue concentrated in a narrow set of defence/aerospace specialty-alloy programmes
- Majority government ownership limits free float
Common questions
What does Mishra Dhatu Nigam (MIDHANI) do?
In Naval Shipbuilding & Defence Shipyards: Titanium alloys and maraging steel for submarine hulls and missile casings. NextResearch maps it in 3 supply chains: Naval Shipbuilding & Defence Shipyards, Aerospace Component Manufacturing & MRO and Defence Procurement (DAC approvals).
Where does Mishra Dhatu Nigam (MIDHANI) sit in the supply chain?
Mishra Dhatu Nigam (MIDHANI) (NSE: MIDHANI) is mapped in 3 supply-chain layers: Hull, Steel Plates & Structural Metallurgy (Naval Shipbuilding & Defence Shipyards); Forgings, Castings & Special Alloys (Aerospace Component Manufacturing & MRO); and Special alloys, forgings & castings (Defence Procurement (DAC approvals)).
Who are Mishra Dhatu Nigam (MIDHANI)'s peers?
In the Hull, Steel Plates & Structural Metallurgy layer of Naval Shipbuilding & Defence Shipyards: Steel Authority of India (SAIL) and Ador Welding.
What is Mishra Dhatu Nigam (MIDHANI)'s market cap and valuation?
As of 30 Oct 2026: market cap ₹6,757 Cr, P/E 50.1x, ROCE 11.4%, ROE 8.9%, dividend yield 0.24%.