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    Mishra Dhatu Nigam Limited

    India's sole titanium-alloy maker; special steels, superalloys & armour for defence, aerospace and space.

    Capital Goods
    Industrials
    View MIDHANI earnings calls
    ₹408
    -2.70% from avg

    Overview

    Price

    ₹408

    Market Cap

    ₹7.3k Cr

    Sector

    Capital Goods

    Industrials

    Rank

    1

    Performance

    Financials

    Income Statement

    Financial Trajectories

    11
    Quarterly

    Balance Sheet

    Balance Sheet

    ₹ Cr · Annual
    Line itemFY20FY21FY22FY23FY24FY25FY26FY26
    LiabilitiesEquity Capital187187187187187187187187
    Reserves7718851.0k1.1k1.1k1.2k1.3k1.3k
    Borrowings134160360489433350338407
    Other Liabilities1.3k1.2k1.2k1.1k1.2k1.1k1.2k1.3k
    Total Liabilities2.4k2.5k2.8k2.9k2.9k2.9k2.9k3.2k
    AssetsFixed Assets4414299381.0k1.0k1.1k1.1k1.1k
    CWIP4055491328083252416
    Investments2222222222252523
    Other Assets1.5k1.5k1.7k1.7k1.8k1.8k1.8k2.1k
    Total Assets2.4k2.5k2.8k2.9k2.9k2.9k2.9k3.2k

    Cash Flow

    Cash Flow

    ₹ Cr · Annual
    Line itemFY19FY20FY21FY22FY23FY24FY25FY26
    ActivitiesCash from Operating2962041765-35216217155
    Cash from Investing-205-195-115-68-3-65-96-150
    Cash from Financing-78-13-373943-148-12616
    SummaryCapital Expenditure
    Free Cash Flow82-6717-85-108136149105
    FCF Margin

    Valuation

    Assumptions

    Current — MIDHANI
    Price
    ₹408
    EPS (TTM)
    ₹6.98
    PE (TTM)
    58.5
    Profit growth
    -5.7%

    The Earnings Per Share over the last 12 months.

    %

    Your assumption of the company's expected yearly EPS growth (e.g., 6 for 6%).

    Pre-filled with the lower of median (62.9×) and current (58.5×) PE — the conservative anchor.

    %

    The annualized return you aim to achieve. We solve for the price that delivers it, then compare to today's price.

    Valuation

    Current price
    ₹408
    vs
    Fair value · 15% return
    ₹120
    70%Overvalued

    At -5.7% growth and a 58× exit, ₹408 only delivers your return if you pay ₹120. The price is currently baking in 18% growth.

    EPS grows -5.7%/yr for 5 years, then fades to 6% over 2, exits at 58×.

    YearGrowthEPS (₹)
    FY27-5.7%6.58
    FY28-5.7%6.21
    FY29-5.7%5.85
    FY30-5.7%5.52
    FY31-5.7%5.20
    FY320.1% ·fade5.21
    FY336.0% ·fade5.53

    Methodology: we discount normalized net profit as a proxy for owner earnings (an earnings-power approximation — not full free cash flow). Terminal growth is capped at 6% (≈ nominal GDP) regardless of the required return. This is an analytical tool, not investment advice.

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