MIDHANI reports earnings for Q4FY21, FY2021

Mini-Ratna Defence PSU Mishra Dhatu Nigam Limited (MIDHANI) has achieved Best Ever Turnover of Rs. 813.23 Crore for the year FY 2020-21 registering a growth of 14.08% over the Turnover of Rs. 712.88 Crore achieved during the previous FY 2019-20.

Operating Profit of Rs. 206.26 Crore for the FY 2020-21 registering a growth of 24.52% over the Operating Profit of Rs. 165.65 Crore achieved during the previous FY 2019-20.

Best ever Profit Before Tax (PBT) of Rs. 226.09 Crore for the FY 2020-21 registering a growth of 11.88% over the PBT of 202.09 Crore achieved during the previous FY 2019-20.

Profit After Tax (PAT) of Rs. 166.29 Crore for the FY 2020-21, against the of Rs. 159.73 Crore achieved during the previous FY 2019-20. PAT for the previous financial year includes the deferred tax benefit due to implementation of new corporate tax rates.

During the FY 2020-21, the company paid an interim dividend of Rs. 1.20 per equity share and further proposes to pay another Rs. 1.58 per equity share as final dividend for 2020-21. The total dividend (including interim dividend) for the financial year 2020-21 is Rs. 2.78 per equity share (par value Rs. 10/- each). This works out to 31.32% of PAT which is the highest dividend being paid by the company.

The Company's financial results for the year ended 31st March 2021, have been impacted by the lockdown on account on COVID-19 more particularly during Qi. Company was not operational for 45 days due to lockdown during the 1st quarter of the financial year 2020-21 due to which the Value of Production (V0P) has been impacted, however, Company achieved best ever results in terms Revenue and PBT during the financial year.

The Company has assessed the possible impact of COVID-19 on its financial statements based on the internal and external information available upto the date of approval of these financial results including but not limited to its assessment of company's liquidity, recoverable values of property, plant and equipment, intangible assets and the net realisable values of other assets. The Company continues to monitor changes in future economic conditions while taking steps to improve operational efficiencies and the financial outcome.

The order book position as on 01-04-2021 stood at Rs. 1353 Crores.

Shares of Mishra Dhatu Nigam Ltd was last trading in BSE at Rs.210.35 as compared to the previous close of Rs. 206.4. The total number of shares traded during the day was 93449 in over 2095 trades.

The stock hit an intraday high of Rs. 212.5 and intraday low of 208.3. The net turnover during the day was Rs. 19660154.

Source : Equity Bulls

Keywords