Mishra Dhatu Nigam Ltd Share Price – NSE  /  BSE

Aerospace & Defence, Small Cap

Net profit of Mishra Dhatu Nigam declined 30.06% to Rs 46.34 crore in the quarter ended March 2024 as against Rs 66.26 crore during the previous quarter ended March 2023. Sales rose 18.11% to Rs 393.08 crore in the quarter ended March 2024 as against Rs 332.81 crore during the previous quarter ended March 2023.

For the full year,net profit declined 41.26% to Rs 91.78 crore in the year ended March 2024 as against Rs 156.26 crore during the previous year ended March 2023. Sales rose 21.33% to Rs 1031.19 crore in the year ended March 2024 as against Rs 849.88 crore during the previous year ended March 2023.

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Mishra Dhatu Nigam will hold a meeting of the Board of Directors of the Company on 28 May 2024

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Mishra Dhatu Nigam has revised the meeting of the Board of Directors which was scheduled to be held on 28 May 2024. The meeting will now be held on 29 May 2024.

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Mishra Dhatu Nigam announced that a joint venture agreement oincorporate a Section 8 Company under Companies Act, 2013) under Defence Testing Infrastructure Scheme (DTIS) promulgated by Department of Defence Production, Ministry of Defence has been executed between consortium of five (5) Companies i.e.Mishra Dhatu Nigam (MIDHANI); Bharat Dynamics; Hindustan Aeronautics; Yantra India; and PTC Industries along with Uttar Pradesh Expressways Industrial Development on 06 May 2024.

The proposed registration of the Section 8 Company with the Ministry of Corporate Affairs will bear the name ‘Advanced Materials (Defence) Testing Foundation' or any other similar name as the case maybe.

The main object of incorporation of Joint Venture Company under DefenceTesting and Infrastructure Scheme promulgated by Ministry of Defence isto provide focused, structured, and significant thrust to indigenousResearch, Development and Manufacturing in the Defence Sector,with special focus on participation of MSMEs and Startups, by providing state of the art testing facilities.

The company will subscribe to 20% stake in the joint venture company with capital investment of Rs 3 crore.

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