HYDERABAD: Defence PSU Mishra Dhatu Nigam Limited (MIDHANI) has earned a profit of Rs 131.26 crore, achieving a Value of Production (VoP) of Rs 697.68 crore in the financial year 2017-18.
According to a statement issued by MIDHANI, it struck the best-ever VoP for the financial year 2017-18, registering a growth of three per cent, compared to the previous year’s VoP of Rs 695.64 crore. However, sales turnover was lower due to delay in order receipts and revamping going on in the company.
The defence PSU, engaged in manufacturing of special materials, alloys and other products to be used in high-tech industries and sectors of strategic importance, achieved a net turnover of Rs 310.86 crore during the March quarter of FY18 against a net turnover of Rs 272.03 crore for the corresponding
period in FY17, registering a growth of 14.27 per cent.
The company has proposed to pay a dividend of Rs 2.10 per share for FY18.
“The order book position as on April 1, 2018, is Rs 569 crore. With this order book and the new order prospects in pipeline, MIDHANI has planned for a good growth with commensurate profitability in the year to come. Revenue growth of about 23 per cent and operating profit of 19.50 per cent is targeted by MIDHANI for achieving excellent MoU rating (fixed by Government of India) in FY 19,” said Dinesh Kumar Likhi, CEO and Managing Director of MIDHANI.