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31 announcements match the current filters (relevance ≥ 5).
MIDHANI Fixes Sep 23, 2026 as Record Date for Rs 1.25 Final Dividend; AGM on Sep 30
Mishra Dhatu Nigam Limited (MIDHANI) has set September 23, 2026, as the record date for determining shareholder eligibility for a final dividend of Rs 1.25 per equity share (12.50%) for FY26. This follows an interim dividend of Re 0.85 per share paid earlier, bringing total FY26 dividend to Rs 2.10 per share. The 52nd Annual General Meeting (AGM) will be conducted via video conferencing on September 30, 2026. The company reported FY26 revenue from operations growth of 12.56% year-on-year.
Confidence: HIGH
What changedMIDHANI announced the record date of September 23, 2026, for its final dividend of Rs 1.25 per share and issued notice for its 52nd AGM on September 30, 2026.
Why it mattersConfirms the timeline for distribution of the FY26 final payout of Rs 1.25 per share, representing routine cash distribution to shareholders with government and defence orders dominating 90% of order bookings.
Final Dividend per share: Rs. 1.25Interim Dividend per share: Re. 0.85Record Date: 23-Sep-202652nd AGM Date: 30th day of September 2026Govt/PSU share in FY26 orders: approximately 90%
📅 Short termStock is expected to trade ex-dividend shortly before September 23, 2026, reflecting the Rs 1.25 per share dividend adjustment.
📈 Long termLimited; this is a scheduled corporate action reflecting standard dividend distribution.
⚠ Risk flags
- Client concentration risk with defence, energy, and space PSUs/government accounting for ~90% of order bookings
Key Highlights
Record date set for September 23, 2026, for final dividend entitlement
Final dividend proposed at Rs 1.25 per share (12.50%) in addition to Re 0.85 interim dividend already paid
52nd Annual General Meeting scheduled for September 30, 2026
FY26 revenue from operations grew by 12.56% year-on-year
Government and PSU customers accounted for approximately 90% of total orders booked in FY 2025-26
👀 What to Watch
Investors seeking dividend eligibility must hold shares before the ex-dividend date prior to September 23, 2026, and track AGM voting outcomes scheduled for September 30, 2026.
Kridhan Infra Appoints U B Lakhani & Co as Statutory Auditor Following Predecessor Resignation
Kridhan Infra Limited announced the appointment of M/s U B Lakhani & Company (FRN: 105532W) as Statutory Auditors to fill a casual vacancy caused by the resignation of Jignesh Savla & Associates effective August 31, 2026. The Board has also recommended U B Lakhani & Company for a 5-year term from the 20th AGM to the 25th AGM, subject to shareholder approval. The company continues to operate under severe financial distress with a negative net worth of ₹-267 Cr and annual TTM revenue of ₹3 Cr.
Confidence: HIGH
What changedJignesh Savla & Associates resigned as statutory auditor on August 31, 2026; U B Lakhani & Company was appointed in casual vacancy and recommended for a 5-year term.
Why it mattersMid-tenure statutory auditor resignations can indicate audit or governance challenges, particularly critical for a distressed company with ₹-267 Cr in net worth.
New Auditor Term: 5 consecutive yearsEffective Date of Resignation: August 31, 2026Effective Date of Casual Appointment: September 01, 2026
📅 Short termMarket participants will assess the reasons behind the sudden auditor cessation and monitor filings for any audit qualifications or disagreements.
📈 Long termLimited operational impact, but effective statutory oversight is essential given the company's financial turnaround needs and severe capital erosion.
⚠ Risk flags
- Auditor resignation mid-tenure creates governance overhang
- Severe negative net worth (-₹267 Cr) and high leverage
- Shrinking business scale with TTM revenue of only ₹3 Cr
Key Highlights
Resignation of previous Statutory Auditor Jignesh Savla & Associates effective August 31, 2026
Appointment of M/s U B Lakhani & Company to fill casual vacancy from September 01, 2026
Recommended for a 5-year consecutive term from the conclusion of the 20th AGM to the 25th AGM
Board meeting approving the appointment concluded at 7:00 P.M. on September 01, 2026
👀 What to Watch
Track the detailed reasons for the previous auditor's resignation when filed in Annexures/Form ADT-4, and watch for shareholder voting outcomes at the upcoming 20th AGM.
Kridhan Infra: Statutory Auditor Jignesh Savla & Associates Resigns Effective Aug 31, 2026
Kridhan Infra Limited announced that its statutory auditor, M/s. Jignesh Savla & Associates (FRN: 127654W), has resigned effective August 31, 2026. The intimation was filed under Regulation 30 of the SEBI LODR Regulations on September 01, 2026. This comes against the backdrop of distressed company financials, with a negative net worth of Rs -267 Cr and a market capitalization of just Rs 22 Cr. Investors should monitor corporate governance disclosures and the appointment of the successor auditor.
Confidence: HIGH
What changedM/s. Jignesh Savla & Associates stepped down as statutory auditor of Kridhan Infra Limited effective August 31, 2026.
Why it mattersMid-tenure statutory auditor resignations raise governance questions, particularly for companies operating with negative net worth (Rs -267 Cr) and high leverage.
Effective date of resignation: August 31, 2026Auditor Firm Registration No.: 127654WMarket Cap: Rs 22 CrNet Worth: Rs -267 Cr
📅 Short termAuditor exits typically create near-term governance uncertainty and negative sentiment for micro-cap stocks.
📈 Long termThe company's long-term standing depends on restoring financial solvency, stabilizing leadership, and maintaining transparent audit quality.
⚠ Risk flags
- Auditor resignation creates governance and disclosure uncertainty
- Severely negative net worth of Rs -267 Cr
Key Highlights
Statutory auditor M/s. Jignesh Savla & Associates (FRN: 127654W) tendered resignation.
Resignation is effective from August 31, 2026.
Intimation submitted to stock exchanges on September 01, 2026 under Regulation 30.
👀 What to Watch
Track the appointment of a new statutory auditor, detailed reasons in the full resignation annexure, and any subsequent audit qualifications in upcoming quarterly filings.
Kridhan Infra Statutory Auditor Jignesh Savla & Associates Resigns Effective August 31, 2026
Kridhan Infra Limited has informed stock exchanges that its Statutory Auditor, M/s. Jignesh Savla & Associates (FRN: 127654W), has resigned effective August 31, 2026. The intimation was formally submitted on September 01, 2026, under Regulation 30 of SEBI LODR Regulations. The company currently faces strained financials with a negative net worth of Rs -267 Cr and TTM revenue of Rs 3 Cr.
Confidence: HIGH
What changedM/s. Jignesh Savla & Associates stepped down as the Statutory Auditor of Kridhan Infra Limited on August 31, 2026.
Why it mattersAuditor resignations can signal corporate governance, reporting, or operational challenges, especially in a financially distressed entity with negative net worth (Rs -267 Cr).
Effective date of resignation: August 31, 2026Auditor FRN: 127654WCompany Net Worth: Rs -267 CrMarket Cap: Rs 22 Cr
📅 Short termLikely to create negative sentiment and heighten governance scrutiny around the company's financial reporting timeline.
📈 Long termThe company needs to stabilize governance, appoint an established auditor, and address structural balance sheet distress.
⚠ Risk flags
- Auditor resignation
- Negative net worth of Rs -267 Cr
- Strained operational cash flows and low revenue base (TTM revenue Rs 3 Cr)
Key Highlights
Statutory Auditor M/s. Jignesh Savla & Associates tendered resignation effective August 31, 2026
Firm Registration Number (FRN) of the resigning auditor is 127654W
Intimation submitted to BSE and NSE on September 01, 2026 by Executive Director & CFO Mithlesh Jaiswal
👀 What to Watch
Track the appointment of the incoming statutory auditor and watch for any disclosures or reasons highlighted in the detailed resignation letter regarding audit qualifications or concerns.
MIDHANI Q1 FY27 Concall: Order Book at ₹2,329 Cr, Secures GE S400 Certification
MIDHANI reported a 40.5% YoY revenue growth in Q1 FY27 to ₹239.49 crore, with PAT rising 27.4% YoY to ₹16.31 crore. The order book stood at ₹2,329 crore as of July 1, 2026, representing ~1.82x of TTM revenue (₹1,278 crore) and providing strong medium-term visibility. The company received the GE S400 certification for testing materials and executed its first commercial rolling order for 7000-series aluminum alloy. Meanwhile, the joint venture aluminum plant at Nellore with NALCO is set to be formally closed.
Confidence: HIGH
What changedMIDHANI published its Q1 FY27 earnings conference call transcript, discussing operating performance, order book status, and progress on aerospace certifications and alloy rolling.
Why it mattersA robust order book of ₹2,329 crore provides solid revenue visibility, while certifications like GE S400 position MIDHANI to monetize testing services and capture indigenization offset orders.
Order book (as of July 1, 2026): ₹2,329 croreOrder book vs TTM revenue: ~182%Q1 FY27 Revenue: ₹239.49 croreQ1 FY27 PAT: ₹16.31 croreQ1 FY27 EBITDA: ₹46.6 crore
📅 Short termStable operational performance and order backlog support sentiment; management highlighted easing of LPG and raw material supply chain disruptions.
📈 Long termIndigenization tailwinds in aerospace, specialized alloy certifications (GE S400, Nadcap), and isothermal forging capabilities support structural growth.
⚠ Risk flags
- High client concentration in Defence and Space (>80% of orders)
- Supply chain vulnerabilities regarding specialty raw materials and fuel costs
- Closure of the proposed Nellore JV with NALCO
Key Highlights
Q1 FY27 turnover grew 40.46% YoY to ₹239.49 crore, while PAT rose 27.42% to ₹16.31 crore
Order book stood at ₹2,329 crore as of July 1, 2026 (~1.82x of TTM revenue of ₹1,278 crore)
Value of production reached ₹260.36 crore in Q1 FY27, up 7.9% YoY
EBITDA increased 12.89% YoY to ₹46.6 crore during the quarter
Secured S400 testing certification from General Electric USA on August 13, 2026
👀 What to Watch
Track execution pace in subsequent quarters, margin impact from supply chain normalizations (LPG/raw materials), and progress toward Nadcap accreditation by FY27 end.
Kridhan Infra Q1 FY27 Results: Net Worth Remains Fully Eroded; KMPs Authorized
Kridhan Infra Limited reported its Q1 FY27 results on August 13, 2026, with auditors highlighting that the company's net worth remains fully eroded due to accumulated losses. The company continues to operate as a 'going concern' based on planned cost reductions and recent efforts to increase the equity base through preferential allotments. Notably, the consolidated financial results exclude two significant entities: Readymade Steel Singapore Pte. Limited (Subsidiary) and Vijay Nirman Company Private Limited (Associate). The board also formally authorized three Key Managerial Personnel (KMP) to determine the materiality of future disclosures.
Confidence: HIGH
What changedThe company has approved its Q1 FY27 financial results and updated its authorized personnel for regulatory disclosures.
Why it mattersThe continued erosion of net worth and the exclusion of key subsidiaries from consolidated results indicate significant financial and reporting stress for a company with a market cap of only Rs 22 Cr.
Net Worth: Rs -267 CrMarket Cap: Rs 22 CrDebt: Rs 12 CrPromoter Holding: 40.05%TTM Revenue: Rs 3 Cr
📅 Short termThe stock is likely to remain under pressure due to the auditor's emphasis on eroded net worth and the lack of full consolidated visibility.
📈 Long termThe company's survival is structurally dependent on its ability to raise capital and execute its historical order book, which has been stalled by liquidity mismatches.
⚠ Risk flags
- Eroded Net Worth
- Going Concern Uncertainty
- Exclusion of Subsidiaries from Consolidation
- High Debt relative to Market Cap
Key Highlights
Net worth remains fully eroded against a reported net worth of -Rs 267 Cr as per latest context
Consolidated results exclude two major entities: Readymade Steel Singapore and Vijay Nirman Company
Board meeting lasted 4 hours, concluding at 6:00 PM on August 13, 2026
Authorization of 3 KMPs for materiality disclosures effective immediately
Going concern status is dependent on successful preferential allotment of equity/warrants
👀 What to Watch
Investors should monitor the status of the preferential allotment and the potential re-inclusion of major subsidiaries in consolidated reporting to assess the true scale of operations.
SEBI Issues Show Cause Notice to Kridhan Infra for Accounting and Governance Lapses
Kridhan Infra Limited has received a Show Cause Notice (SCN) from SEBI dated August 12, 2026, regarding alleged non-compliance with LODR regulations. The notice highlights failure to recognize interest on bank loans in FY23 financial statements and significant delays in filling Key Managerial Personnel (KMP) roles. Specifically, the Managing Director and CFO positions were vacant for approximately 16 and 19 months respectively. Given the company's negative net worth of ₹-267 Cr and low TTM revenue of ₹3 Cr, these regulatory proceedings add substantial risk to an already distressed entity.
Confidence: HIGH
What changedSEBI has initiated formal adjudication proceedings against the company for historical accounting irregularities and leadership vacancies.
Why it mattersThis filing confirms severe internal control weaknesses and potential under-reporting of interest expenses, which is critical for a company with ₹12 Cr in debt and a deeply negative net worth.
MD Vacancy Duration: 16 monthsCFO Vacancy Duration: 19 monthsNet Worth: ₹-267 CrTTM Revenue: ₹3 CrMarket Cap: ₹22 Cr
📅 Short termThe stock is likely to face downward pressure as regulatory scrutiny on governance and accounting integrity typically triggers negative sentiment.
📈 Long termThe company's structural viability remains highly questionable given the combination of regulatory action, negative net worth, and minimal revenue generation.
⚠ Risk flags
- Governance failure (KMP vacancies)
- Accounting irregularities (Ind AS non-compliance)
- Severe financial distress (Negative net worth)
- Regulatory adjudication risk
Key Highlights
SCN received on August 12, 2026, regarding alleged violations of Ind AS 1, 23, 32, and 109 in FY23 financials.
Managing Director position remained vacant for 16 months from October 10, 2022, to February 12, 2024.
CFO position remained vacant for over 19 months from July 1, 2022, to February 12, 2024.
Alleged failure to disclose departures from accounting standards in financial statements.
Company reports a negative net worth of ₹-267 Cr against a small market cap of ₹22 Cr.
👀 What to Watch
Investors should monitor the outcome of the SEBI adjudication proceedings for potential monetary penalties and further regulatory restrictions. Closely watch for any restatement of FY23 financials regarding interest liabilities.
MIDHANI Becomes First Indian Firm to Secure GE Aerospace S400 Lab Approval
MIDHANI has achieved a significant technical milestone by becoming the first Indian company to secure the S400 Independent and International Metallic Material Laboratory approval from GE Aerospace. This certification covers chemical, mechanical, and metallurgical testing, which is a critical prerequisite for supplying advanced materials to global aerospace supply chains. While no immediate contract value was announced, this approval validates MIDHANI's technical capabilities and supports its strategy to expand beyond its current 80% defense-sector concentration. The company currently maintains a robust order book of ₹1,869 Cr as of October 2025.
Confidence: HIGH
What changedMIDHANI's internal laboratory has been formally certified by GE Aerospace, allowing it to independently qualify metallic materials for international aerospace standards.
Why it mattersThis certification is a major entry barrier for global aerospace supply chains; securing it allows MIDHANI to bid for high-value international projects and reduces its reliance on domestic government-led defense contracts.
Order Book (Oct 2025): ₹1,869 CrTTM Revenue: ₹1,209 CrR&D Expenditure (% of PBT): 15.42%Defense Sector Concentration: >80%Order Book vs TTM Revenue: 154.5%
📅 Short termThe news is likely to be viewed positively by the market as a validation of MIDHANI's technical excellence and its 'Make in India' credentials.
📈 Long termThis is a structural positive that enables the company to transition from a domestic strategic supplier to a global player in the aerospace materials ecosystem over the next 3-5 years.
⚠ Risk flags
- High client concentration with Ministry of Defence and ISRO
- Execution risk in meeting global delivery timelines
Key Highlights
First company in India to receive S400 approval from GE Aerospace for metallic material testing.
Approval encompasses three critical domains: chemical, mechanical, and metallurgical testing.
Positions the company to better serve its ₹1,869 Cr order book (as of Oct 2025) and target global exports.
Aligns with the company's high R&D focus, which stood at 15.42% of PBT in FY25.
Facilitates potential diversification from the current 80% revenue concentration in the Ministry of Defence.
👀 What to Watch
Investors should monitor for subsequent announcements regarding direct supply contracts or purchase orders from GE Aerospace or other global OEMs that may follow this certification. Track the growth in export revenue as a percentage of total sales in upcoming quarterly results.
27.4% PAT growth in Q1; Order book reaches ₹2,329 Cr (1.9x TTM Revenue)
MIDHANI reported a strong start to FY27 with Q1 turnover growing 40.46% YoY to ₹239.49 Cr. Net profit (PAT) increased by 27.42% to ₹16.31 Cr, while EBITDA rose 12.89% to ₹46.60 Cr. The order book remains robust at ₹2,329 Cr, representing approximately 1.93x the TTM revenue, providing strong revenue visibility. Total financial indebtedness was reported at ₹209.02 Cr as of June 30, 2026.
Confidence: HIGH
What changedMIDHANI has delivered a significant YoY improvement in both top-line (40%+) and bottom-line (27%+) for the first quarter of the new fiscal year.
Why it mattersThe results demonstrate improved execution capabilities and delivery of high-value specialty alloys for defense and aerospace, maintaining a healthy order-to-revenue ratio.
Turnover (Q1 FY27): ₹239.49 CrPAT (Q1 FY27): ₹16.31 CrOrder Book: ₹2,329 CrOrder Book vs TTM Revenue: 1.93xTotal Indebtedness: ₹209.02 CrEBITDA Growth (YoY): 12.89%
📅 Short termThe stock may react positively to the strong YoY growth in revenue and profit, alongside a stable and large order book.
📈 Long termStructural growth is supported by strategic importance to GoI defense and space programs, though high client concentration remains a key factor to watch.
⚠ Risk flags
- High client concentration (80% order book from Defense)
- Revenue skew towards H2
- Supply chain risks for imported specialty metals
Key Highlights
Turnover grew 40.46% YoY to ₹239.49 Cr from ₹170.50 Cr in the previous year's corresponding quarter.
Order book position as of July 1, 2026, stood at ₹2,329 Cr, providing nearly two years of revenue visibility.
Profit After Tax (PAT) increased 27.42% YoY to ₹16.31 Cr.
Value of Production (VoP) reached ₹260.36 Cr, a 7.90% increase over the previous year.
Total financial indebtedness stood at ₹209.02 Cr as of June 30, 2026.
👀 What to Watch
Monitor the execution of the ₹2,329 Cr order book and the ramp-up of the new Vacuum Arc Remelting (VAR) furnace. Investors should note that the second half of the fiscal year typically accounts for over 60% of annual revenue.
Kridhan Infra Announces Major Management Overhaul; MD Resigns, New WTD and ED Appointed
Kridhan Infra Limited has undergone a significant leadership restructuring effective July 21, 2026. Managing Director Gautam Suri has resigned due to medical reasons, while the company has appointed Krishnaprasad Sunder Rao as Whole Time Director and promoted CFO Mithlesh Jaiswal to Executive Director, both for 5-year terms. These changes occur against a backdrop of severe financial distress, with the company reporting a negative net worth of ₹-267 Cr and a small TTM revenue base of only ₹3 Cr. A new Independent Director and Company Secretary have also been appointed to the board.
Confidence: HIGH
What changedThe company replaced its Managing Director and added three new directors (WTD, ED, ID) and a new Company Secretary to its leadership team.
Why it mattersFor a micro-cap company with a market cap of only ₹25 Cr and significant financial instability, a complete management overhaul is a critical event that could either lead to a turnaround or further operational disruption.
Market Cap: ₹25 CrNet Worth: ₹-267 CrTTM Revenue: ₹3 CrAppointment Term: 5 yearsDebt: ₹12 Cr
📅 Short termThe stock may experience volatility as the market processes the exit of the MD and the entry of new leadership in a financially stressed environment.
📈 Long termThe structural significance depends on whether the new team can leverage the reported ₹3,860 Cr order book to reverse the negative net worth and scale the current low revenue levels.
⚠ Risk flags
- Leadership transition risk
- Negative net worth (₹-267 Cr)
- High debt relative to current revenue
- Small revenue base (₹3 Cr TTM)
Key Highlights
Resignation of Managing Director Gautam Suri effective July 21, 2026, due to medical reasons.
Appointment of Krishnaprasad Sunder Rao as Whole Time Director for a 5-year term.
Promotion of current CFO Mithlesh Jaiswal to Additional Director (Executive Director) for 5 years.
Appointment of Badatala Sreenivasa Rao as an Independent Director for a 5-year term.
Appointment of Ms. Ekta Rathod as Company Secretary and Compliance Officer effective July 21, 2026.
👀 What to Watch
Investors should monitor the new management's ability to address the company's negative net worth of ₹-267 Cr and execute the reported ₹3,130 Cr bid pipeline. Watch for upcoming quarterly results to see if the leadership change improves operational execution.
MIDHANI Recommends ₹1.25 Final Dividend and Approves FY 2025-26 Audited Results
Mishra Dhatu Nigam Limited (MIDHANI) has approved its audited standalone and consolidated financial results for the quarter and full year ended March 31, 2026. The Board recommended a final dividend of ₹1.25 per equity share (12.5% of face value) for FY 2025-26, pending shareholder approval at the upcoming AGM. The auditors have issued an unmodified opinion on the financial statements, confirming the reliability of the reported figures. The consolidated results include the performance of its joint venture, Utkarsha Aluminium Dhatu Nigam Limited.
Key Highlights
Recommended a final dividend of ₹1.25 per equity share of ₹10 each for FY 2025-26.
Approved audited standalone and consolidated financial results for the quarter and year ended March 31, 2026.
Statutory auditors issued an unmodified opinion, indicating no material discrepancies in financial reporting.
Consolidated financial statements incorporate the performance of the JV company, Utkarsha Aluminium Dhatu Nigam Limited.
The Board meeting was held on May 29, 2026, concluding with the approval of the annual financial statements and investor presentation.
👀 What to Watch
Investors should monitor the detailed investor presentation for insights into the order book and execution timelines. The dividend recommendation offers a steady yield, but the focus should remain on the company's growth in the strategic defense and aerospace sectors.
Kridhan Infra FY26 Results: Auditors Issue Qualified Opinion Over Net Worth Erosion
Kridhan Infra Limited has released its audited financial results for the year ended March 31, 2026, which include a qualified opinion from the statutory auditors. The auditors pointed out that accumulated losses have resulted in the erosion of the company's net worth, creating uncertainty regarding its ability to continue as a going concern. Management is attempting to mitigate these risks through cost-reduction measures and has recently sought to increase its equity base via preferential allotments of equity and warrants. While the company reported a net profit for the period, the structural financial weakness remains a significant concern.
Key Highlights
Statutory auditors M/s Jignesh Savla & Associates issued a qualified opinion on both standalone and consolidated FY26 results.
Accumulated losses have led to a complete erosion of the company's net worth as of March 31, 2026.
Auditors highlighted material uncertainty regarding the company's status as a 'going concern' due to financial distress.
Management is relying on recent preferential allotments of equity/warrants to support business growth and liquidity.
The Board approved the results in a meeting held on May 30, 2026, concluding at 12:15 PM.
👀 What to Watch
Investors should exercise high caution as a qualified audit opinion regarding net worth erosion is a major red flag. Avoid fresh exposure until the company demonstrates a sustainable turnaround in its net worth and clears auditor qualifications.
MIDHANI Q4 PAT Jumps 38.5% to ₹77.75 Cr; Recommends ₹1.25 Final Dividend
MIDHANI reported a robust performance for Q4 FY26, with quarterly turnover growing 34.63% YoY to ₹552.75 Cr and Profit After Tax (PAT) increasing 38.49% to ₹77.75 Cr. For the full fiscal year 2025-26, the company achieved its highest-ever turnover of ₹1,208.63 Cr and a PAT of ₹130.79 Cr, marking an 18.82% annual growth. The Board has recommended a final dividend of ₹1.25 per equity share (12.5% of face value). The company maintains a strong order book of ₹2,290 Cr as of April 1, 2026, ensuring future revenue visibility.
Key Highlights
Q4 FY26 turnover reached ₹552.75 Cr, a growth of 34.63% compared to the previous year.
Full-year FY26 PAT stood at ₹130.79 Cr, up 18.82% from ₹110.07 Cr in FY25.
EBITDA for the full year grew by 10.69% to reach ₹275.59 Cr.
Order book position remains healthy at ₹2,290 Cr as of April 1, 2026.
Recommended a final dividend of ₹1.25 per share for the financial year ended March 31, 2026.
👀 What to Watch
Investors should take note of the record-breaking turnover and strong profit growth, which reflect efficient execution and demand in the defense and space sectors. The robust order book provides a clear growth trajectory, making this a positive development for long-term shareholders.
MIDHANI Q4 PAT Jumps 38.5% to ₹77.75 Cr; Recommends ₹1.25 Final Dividend
MIDHANI reported a strong performance for Q4 FY26, with net profit rising 38.5% YoY to ₹77.75 crore, driven by a 34.6% surge in quarterly turnover to ₹552.75 crore. For the full year FY26, the company achieved its highest-ever turnover of ₹1,208.63 crore and a PAT of ₹130.79 crore. The board recommended a final dividend of ₹1.25 per share, reflecting steady shareholder returns. With a robust order book of ₹2,290 crore as of April 2026, the company maintains strong revenue visibility in the defense and space sectors.
Key Highlights
Q4 FY26 PAT increased by 38.49% YoY to ₹77.75 Cr compared to ₹56.14 Cr in the previous year.
Highest ever annual turnover of ₹1,208.63 Cr achieved in FY26, representing a growth of 12.52% YoY.
Order book position remains healthy at ₹2,290 Cr as of April 1, 2026.
Final dividend of ₹1.25 per share (12.5%) recommended for the financial year 2025-26.
Full-year EBITDA grew by 10.69% to reach ₹275.59 Cr, while PBT grew by 17.98% to ₹184.09 Cr.
👀 What to Watch
Investors should view the record-high turnover and strong PAT growth as a positive signal of MIDHANI's execution capabilities in the niche defense and aerospace segments. The robust order book provides clear revenue visibility, making it a strong candidate for long-term portfolios focused on the Indian defense indigenization theme.
Kridhan Infra Allots 1.2 Crore Equity Shares on Warrant Conversion at ₹4.05 Per Share
Kridhan Infra Limited has successfully converted warrants into 1,20,00,000 fully paid-up equity shares. The allotment follows the receipt of the remaining 75% of the issue price from three specific investors, including Shri Bajrang Commodity LLP. The shares were issued at a price of ₹4.05 each, resulting in a total capital infusion of approximately ₹4.86 crore. This move strengthens the company's equity base and provides immediate liquidity for operations.
Key Highlights
Allotment of 1,20,00,000 equity shares of face value ₹2 each
Issue price set at ₹4.05 per share, including a premium of ₹2.05
Total fund mobilization of ₹4.86 crore through warrant conversion
Major allotment to Shri Bajrang Commodity LLP (72,00,000 shares) and two individual investors
Conversion completed after receiving the balance 75% of the total issue price
👀 What to Watch
Investors should note the equity dilution resulting from this conversion while acknowledging the capital infusion. Monitor how the company utilizes the ₹4.86 crore to improve its infrastructure project execution and debt profile.
MIDHANI Reports Record Sales of ₹1,206 Cr for FY 2025-26, Up 12% YoY
Mishra Dhatu Nigam Limited (MIDHANI) achieved its highest-ever annual sales of ₹1,206 crore in FY 2025-26, representing a 12% growth over the previous year's ₹1,074 crore. The company successfully navigated geopolitical supply chain disruptions by focusing on high-value superalloys and titanium alloys for aerospace, naval, and space sectors. Notably, titanium production surged by 40% YoY, and the company is transitioning from a raw material supplier to an integrated product manufacturer. Strategic initiatives like the creation of a 'Metal Bank' and new technology transfers for bulletproof jackets strengthen its long-term growth profile.
Key Highlights
Achieved record provisional sales of ₹1,206 Cr, a 12% increase from ₹1,074 Cr in the previous fiscal year.
Titanium production increased by approximately 40% YoY, supported by successful export order execution of ₹85 Cr.
Received critical CEMILAC and NADCAP certifications for superalloy castings and heat treating processes.
Diversified into high-value integrated products including aerospace fasteners and ABHED bulletproof jackets.
Established a 'Metal Bank' via MoU to ensure uninterrupted availability of critical raw materials for defense projects.
👀 What to Watch
Investors should note the strong growth in high-margin titanium and superalloy segments and the company's successful transition toward integrated products. The stock remains a robust long-term play in India's defense indigenization and aerospace sectors.
Kridhan Infra Allots 48 Lakh Equity Shares via Warrant Conversion at ₹4.05 per Share
Kridhan Infra Limited has successfully allotted 48,00,000 fully paid-up equity shares following the conversion of warrants previously issued on a preferential basis. The allotment was made to four specific investors, including the Kapasi family and Chaitali Atish Laddad, with each receiving 12,00,000 shares. The conversion occurred at an issue price of ₹4.05 per share, which includes a premium of ₹2.05. This action follows the receipt of the remaining 75% balance of the issue price, totaling approximately ₹1.94 crore in capital infusion.
Key Highlights
Allotment of 48,00,000 equity shares of face value ₹2 each upon warrant conversion
Total capital raised in this tranche amounts to ₹1,94,40,000
Issue price set at ₹4.05 per share, including a premium of ₹2.05 per share
Four investors participated equally, each receiving 12,00,000 shares
Conversion follows the successful receipt of the balance 75% of the total issue price
👀 What to Watch
Investors should note the minor equity dilution and monitor the company's utilization of these funds for operational growth or debt reduction.
MIDHANI Secures Prestigious NADCAP Accreditation for Heat Treatment Facility
Mishra Dhatu Nigam Limited (MIDHANI) has successfully obtained the NADCAP accreditation for its Heat Treatment facility as of March 17, 2026. This accreditation is a globally recognized quality standard essential for suppliers in the aerospace and defense industries. By meeting these rigorous international requirements, MIDHANI enhances its eligibility for high-value global contracts and critical domestic programs. This milestone validates the company's metallurgical processing capabilities and strengthens its position in the global supply chain.
Key Highlights
MIDHANI's Heat Treatment facility awarded the prestigious NADCAP accreditation on March 17, 2026.
Accreditation ensures compliance with stringent global aerospace industry requirements and process controls.
Strengthens the company's capability to support critical aerospace and defense programs with world-class processing.
Positions MIDHANI as a qualified supplier for international aerospace OEMs, potentially boosting export opportunities.
👀 What to Watch
Investors should view this as a positive long-term development that improves MIDHANI's competitive edge in the aerospace sector. Monitor for new order inflows from global aerospace companies following this certification.
MIDHANI Declares Interim Dividend of Rs 0.85 Per Share; Sets Record Date for March 19, 2026
Mishra Dhatu Nigam Limited (MIDHANI) has announced an interim dividend of Rs 0.85 per equity share for the financial year 2025-26. This dividend represents 8.50% of the face value of Rs 10 per share. The Board of Directors approved the payout during their meeting held on March 13, 2026. The company has established March 19, 2026, as the record date to identify eligible shareholders for the distribution.
Key Highlights
Interim dividend of Rs 0.85 per equity share declared for FY 2025-26
Dividend rate is 8.50% based on the face value of Rs 10 per share
Record date for determining shareholder entitlement is March 19, 2026
Board meeting concluded at 12:50 hrs on March 13, 2026
👀 What to Watch
Investors seeking dividend income should ensure they hold the stock before the ex-dividend date to qualify for the Rs 0.85 per share payout. This move reflects the company's commitment to returning value to shareholders.
MIDHANI Declares Interim Dividend of Rs. 0.85 Per Share for FY 2025-26
Mishra Dhatu Nigam Limited (MIDHANI) has announced an interim dividend of Rs. 0.85 per equity share for the financial year 2025-26. This payout represents 8.50% of the face value of Rs. 10 per share. The Board of Directors approved the dividend in a meeting held on March 13, 2026. The company has established March 19, 2026, as the record date to identify eligible shareholders for the payment.
Key Highlights
Interim dividend of Rs. 0.85 per equity share declared for FY 2025-26
Dividend payout is 8.50% based on a face value of Rs. 10 per share
Record date for dividend entitlement is set for March 19, 2026
Board meeting concluded on March 13, 2026, at 1250 hrs
👀 What to Watch
Investors interested in the dividend should ensure they hold the stock before the ex-dividend date. Long-term investors should evaluate this payout in the context of the company's overall yield and performance in the defense sector.
