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Mishra Dhatu Nigam Ltd (MIDHANI), a Hyderabad based Defence Public Sector Undertaking achieved a profit before tax of Rs. 8.8 crore on a sales turnover of Rs. 131.29 crore during 2004-05 with modest export sales of Rs. 0.8 crore, surpassing its performance during the previous year.
Shri Devasis Chowdhury, Chairman and Managing Director of the company disclosed that the Company will be undertaking customer-funded upgradation and modernisation of its manufacturing facilities during the current financial year primarily to meet the hi-tech special materials requirements for the ambitious ‘Chandrayan’ (Spacecraft to Moon) and other programmes of the Department of Space.
Midhani is confident of achieving an ‘Excellent’ Rating for the second consecutive year, meeting performance targets set out in the MoU with Ministry of Defence, Department of Defence Production for the year 2004-05. Payment of a dividend is planned for the year which ended with a healthy orderbook valued at Rs. 210 crore. This follows the breakeven achieved during the previous year when a maiden dividend was paid.
Set up primarily for self-reliance in critical materials, the hi-tech metallurgical facility of Midhani has been supporting programmes of national importance in strategic sectors including Space, Defence, Aeronautics and Atomic Energy. The company will continue to contribute to critical hardware for PSLV & GSLV (Space), Kaveri Engine Programme for Light Combat Aircraft and is contemplating supply of Superalloys, Titanium Alloys and Special Steels for indigenous production of SU-30 combat aircraft, gun barrels for T-90 Tanks and Fast Breeder Reactors of Department of Atomic Energy.
Advanced aerospace technologies were employed as a spin-off to develop and manufacture a wide range of low-cost Titanium Biomedical Implants which were supplied to reputed hospitals in the country.
SKS / HS
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