Strategic DPSU MIDHANI reports record Rs306 crore sales turnover
07 Apr 2009
Hyderabad: Strategic defence public sector unit, the Mishra Dhatu Nigam Ltd (MIDHANI), has achieved an all time high sales turnover of Rs306 crore as against Rs255 crore the previous year. It has also reported profit before tax of Rs60 crore for the financial year 2008-09.
This defence public sector undertaking, declared as a Mini-Ratna this year, has orders valued at over Rs700 crore of which orders worth Rs428 crore were booked during the year. This was stated by M. Narayana Rao, chairman and managing director, while declaring the provisional results.
The company has embarked upon a massive modernization and up-gradation programme, partly funded by its strategic customers, as well as its own internal resources in order to meet the hi-tech special materials requirements of the Department of Space and Atomic Energy, defence, aeronautics and general engineering industries.
Midhani contributed to the Chandrayaan mission, in particular the Moon Impact Probe (MIP), and is now gearing up to meet the special material needs for the ambitious 'Human in Space programme'' (HSP) for the Department of Space.
The company has also begun work on developing ''Low activated Ferritic-Martensitic Steels (Specialised Steels) for the futuristic International Thermonuclear Experimental Reactor (ITER) programme of Department of Atomic Energy.
Once developed, it will make India one of seven countries that have this capability.
The overall performance during the year would enable the company to pay dividends to the Government for the sixth consecutive year.
The advanced aerospace technologies have also been employed as a spin off to develop and manufacture a wide range of low cost titanium bio-medical implants and have been supplied to reputed hospitals in the country.