MIDHANI Q3 Results: Net Profit Rises to ₹27.46 Crore, Turnover Grows 15.8%

Mishra Dhatu Nigam Limited (MIDHANI), a Mini-Ratna Defence PSU under the Government of India, announced its Q3 FY26 results today, reporting a standalone net profit of ₹27.46 crore for the quarter ended December 31, 2025. This represents a growth of 8.67% from ₹25.27 crore recorded in the corresponding quarter of the previous year.

HYDERABAD, FEBRUARY 12, 2026: Mishra Dhatu Nigam Limited (MIDHANI), a Mini-Ratna Defence PSU under the Government of India, announced its Q3 FY26 results today, reporting a standalone net profit of ₹27.46 crore for the quarter ended December 31, 2025. This represents a growth of 8.67% from ₹25.27 crore recorded in the corresponding quarter of the previous year.

Financial Highlights (Standalone, Q3 FY26):

Net Profit (PAT): ₹27.46 crore (vs. ₹25.27 crore in Q3 FY25) — ↑ 8.67%
Turnover: ₹275.66 crore (vs. ₹237.97 crore in Q3 FY25) — ↑ 15.84%
Profit Before Tax (PBT): ₹38.97 crore (vs. ₹36.00 crore in Q3 FY25) — ↑ 8.25%
Value of Production (VOP): ₹304.05 crore (vs. ₹257.45 crore in Q3 FY25) — ↑ 18.10%
Earnings Per Share (EPS): ₹1.46 (not annualised)

Nine-Month Performance (Apr-Dec 2025):

For the nine-month period ended December 31, 2025, the company reported:

Turnover: ₹655.88 crore (vs. ₹663.54 crore in 9M FY25)
Profit Before Tax (PBT): ₹77.10 crore (vs. ₹78.88 crore in 9M FY25)
Profit After Tax (PAT): ₹53.04 crore (vs. ₹53.92 crore in 9M FY25)
Value of Production (VOP): ₹801.73 crore — ↑ 8.86% (vs. ₹736.46 crore in 9M FY25)

Order Book & Operational Highlights:

Order Book Position: ₹2,440 crore as of January 1, 2026
No Default on Debt: The company confirmed there were no defaults on loans or debt securities, with total financial indebtedness at ₹276.81 crore as on December 31, 2025

Consolidated Results:

Including the company's 50% stake in its joint venture Utkarsha Aluminium Dhatu Nigam Limited, the consolidated net profit for Q3 FY26 stood at ₹27.56 crore. The joint venture contributed a share of profit after tax amounting to ₹52.73 lakh for the nine-month period.

Key Developments:

Labour Code Impact: The company assessed the financial impact of newly notified Labour Codes, resulting in an additional liability of ₹18.23 lakh.
New Joint Venture: MIDHANI, along with Bharat Dynamics Limited, Hindustan Aeronautics Limited, Yantra India Limited, and PTC Industries Limited, formed Advanced Materials (Defence) Testing Foundation — a Section 8 company in June 2024 for defence testing infrastructure in Uttar Pradesh. MIDHANI is the lead member with 20% shareholding.
Auditor's Report: Statutory auditors M/s. Anjaneyulu & Co. issued an unmodified (clean) limited review report on both standalone and consolidated financial results.

Segment Reporting Exemption:

As a defence production company, MIDHANI continues to avail exemption from segment reporting requirements as per Ministry of Corporate Affairs notification dated February 23, 2018.

The results were reviewed by the Audit Committee and approved by the Board of Directors at a meeting that commenced at 3:00 PM and concluded at 4:45 PM on February 12, 2026.

About MIDHANI: Mishra Dhatu Nigam Limited is a Mini-Ratna Central Public Sector Enterprise under the Ministry of Defence, specializing in the production of superalloys, titanium alloys, special steels, and other advanced materials for strategic sectors including defence, space, and energy. The company is headquartered in Hyderabad, Telangana.