Mishra Dhatu Nigam Q3 FY26 earnings call: Revenue & Margins
Q3 FY26 earnings call: what management said on revenue, margins and capex.
- Revenue
- ₹276Cr
- +16% YoY
- Net profit
- ₹27Cr
- +8% YoY
- Margin
- 20%
- −2 pp YoY
Guidance rank: #11 of 21 in Aerospace & Defense
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The short version
MIDHANI aims to become a INR2,000 crores company in the next 10 years by upgrading facilities and adding capacity. MIDHANI expects around 20% incremental revenue growth year-over-year for FY '27 and FY '28 based on current capacity and utilization, until capex plans are finalized.
From Mishra Dhatu Nigam Ltd's Q3 FY26 earnings-call transcript · updated 23 Aug 2026.
Revenue & Sales Performance
- MIDHANI aims to become a INR2,000 crores company in the next 10 years by upgrading facilities and adding capacity.
- Current growth guidance is around 20% year-on-year increment in revenues for FY '26/'27 and '27/'28 based on existing capacity.
- Capex plans to enhance capacity are underway, with details expected by end of Q4 FY '26 after DPR approvals.
- Focus on increasing production of aeronautical grades, super alloys, and titanium alloys to drive growth.
- Efforts to reduce imports through indigenous manufacturing and metal bank establishment to ensure raw material availability.
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Profitability & Margins
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Capital Expenditure Plans
- MIDHANI is working on a capex plan aimed at doubling capacity to become a INR 2,000 crores company in the next 10 years.
- Current projects are under evaluation, with details and approvals expected by end of Q4 FY26.
- Capex includes installing additional capacity in critical areas and upgrading or substituting older equipment nearing end of life for higher productivity.
- The powder plant capex is in progress but pending foreign export licenses; equipment arrival is awaited.
- Capex projects are primarily brownfield expansions; details to be shared post-DPR completion.
- Metal Bank establishment to insulate against raw material supply uncertainties is underway.
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Top-ranked in Aerospace & Defense
Ranked on what management guided this quarter
Rank buckets describe management commentary on revenue and margin. Not investment advice, and not a forecast of returns.
Fundraising & Capital Structure
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Order Book & Pipeline
- As of February 17, 2026, MIDHANI's current order book stands at INR 2,594 crores.
- The timeline for executing the current order book is approximately 2 years.
- The company expects a year-over-year revenue growth of around 20% for FY '26/'27 and FY '27/'28, subject to capex finalization.
2 more points from Mishra Dhatu Nigam Ltd's call on order book
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Mishra Dhatu Nigam Ltd — Quarterly revenue & net profit
Mishra Dhatu Nigam Ltd Q3 FY26 results — key figures
| ₹ Cr | Q3 FY26 | Q3 FY25 | YoY | Q2 FY26 | QoQ |
|---|---|---|---|---|---|
| Revenue | 276 | 238 | +16% | 210 | +31.4% |
| Operating profit (EBITDA) | 55 | 52 | +5.8% | 33 | +66.7% |
| Operating margin | 20% | 22% | -2 pp | 16% | +4 pp |
| Profit before tax | 39 | 36 | +8.3% | 19 | +105.3% |
| Net profit (PAT) | 27 | 25 | +8% | 13 | +107.7% |
| EPS (₹) | 1.47 | 1.35 | +8.9% | 0.68 | +116.2% |
Source: reported quarterly figures (Screener), ₹ crore.
Reported quarterly figures (₹ Cr). Latest (Q3 FY26): revenue ₹276 Cr, net profit ₹27 Cr. Revenue and profit are scaled separately — hover a quarter for exact figures.
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What Mishra Dhatu Nig's management said in earlier quarters
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Potential multibaggers · Q2 FY27
Potential multibaggers in Aerospace & Defense
on management's own guidance
- Strong growth2
- Strong growth1
- Strong growth3
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Ranks describe management commentary on revenue and margin from the latest earnings call. Not investment advice.
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Frequently Asked Questions
What were Mishra Dhatu Nigam Ltd Q3 FY26 results?
MIDHANI aims to become a INR2,000 crores company in the next 10 years by upgrading facilities and adding capacity. MIDHANI expects around 20% incremental revenue growth year-over-year for FY '27 and FY '28 based on current capacity and utilization, until capex plans are finalized.
What is Mishra Dhatu Nigam Ltd share price analysis?
Mishra Dhatu Nigam Ltd currently shows a neutral. The stock trades at a P/E of 59.6 with a market cap of ₹7,796 Cr. Investors should review the full earnings analysis for detailed insights.
Is Mishra Dhatu Nigam Ltd planning capital expenditure?
MIDHANI is working on a capex plan aimed at doubling capacity to become a INR 2,000 crores company in the next 10 years.
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This analysis is AI-generated based on publicly available earnings data and the company's earnings call transcript. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.