Midhani hits record sales of ₹1,208.63 cr on defense demand
The state-owned defense manufacturer grew annual profit by 19% as fourth-quarter turnover surged 35%.
What's new
- Annual sales rose 12.5% to ₹1,208.63 cr.
- Consolidated net profit climbed 18.8% to ₹130.8 cr.
- Order book stands at ₹2,290 cr as of April 2026.
Why this matters
Midhani is delivering consistent growth in the specialized alloys market. The sharp 34.6% jump in Q4 turnover suggests the company is successfully clearing its order backlog.
What we're watching
- Execution speed on the ₹2,290 cr order book.
- Margin stability as defense and space contracts scale.
- Future dividend consistency.
The full read
Midhani closed FY26 with record turnover of ₹1,208.63 crore, a 12.5% rise over the prior year. Profitability kept pace, with net profit climbing 18.8% to ₹130.8 crore. The results were buoyed by a strong finish, as fourth-quarter turnover jumped 34.6%. The board has proposed a final dividend of ₹1.25 per share, pushing the total annual payout to ₹2.10. With an order book of ₹2,290 crore as of April 2026, the company maintains clear revenue visibility in its core defense and aerospace segments. Midhani is executing well. The company's ability to scale production for specialized alloys remains the primary driver of its stable financial profile.
Questions answered
- How much profit did Midhani generate in FY26?
- The company reported a consolidated net profit of ₹130.8 crore, an increase of 18.8% over the previous year.
- What is the total dividend payout for the year?
- The board recommended a final dividend of ₹1.25 per share, bringing the total annual payout to ₹2.10 per share.
- What does the current order book look like?
- As of April 2026, the order book is valued at ₹2,290 crore, focused on titanium alloys and specialized steel for defense, space, and energy.
- How did the final quarter perform compared to the full year?
- The fourth quarter was particularly strong, with turnover growing by 34.6%.