Mishra Dhatu Nigam Limited (MIDHANI) has reported its highest-ever sales for the financial year 2025-2026, achieving a provisional and unaudited figure of ₹1,206 crore. This marks a 12% increase compared to the previous year’s sales of ₹1,074 crore. The impressive performance includes the successful execution of export orders worth ₹85 crore, despite significant geopolitical disruptions impacting the supply of raw materials.
The growth was driven by the supply of superalloys and titanium alloys for indigenous aero-engine programmes, as well as performance-critical materials for the Indian Navy and Indian space sectors. Notable deliveries included nickel-based single crystal cast sticks, wrought superalloy bars, and rolled rings for aerospace applications, along with high-strength low-alloy steels for naval use.
Among the major achievements for FY 2025-26, MIDHANI received CEMILAC certification for 10 types of superalloy castings and bars, and NADCAP certification for heat treating processes. The company also increased its titanium production by approximately 40% year-on-year and supplied 31 titanium alloy windows for the Shri Ram Mandir in Ayodhya, marking the first architectural use of titanium in India. Additionally, MIDHANI supplied around 90 tonnes of armour steel for the Republic Day Presidential Dais.
MIDHANI has transitioned from being a raw material supplier to an integrated product company, expanding into new areas such as aerospace fasteners, superalloy and titanium castings, welding consumables, and titanium fabricated structures. The company has also successfully executed the up-armouring of vehicles for various state police forces, meeting side mine blast-proof requirements in light motor vehicles.
Moreover, MIDHANI obtained technology transfer from IIT Delhi for the manufacture of ABHED bulletproof jackets, noted as one of the world’s lightest BIS level 6 for API protection. An MoU was signed with different stakeholders for the creation of a Metal Bank at MIDHANI to ensure the uninterrupted availability of critical raw materials for defence projects of national importance.
Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).
This article is written by Yash Agarwal and reviewed by Aman Shukla before publication.