NDTV Profit's special research section collates quality and in-depth equity and economy research reports from across India's top brokerages, asset managers and research agencies. These reports offer NDTV Profit's subscribers an opportunity to expand their understanding of companies, sectors and the economy.
ICICI Securities Report
Brokerage firm ICICI Securities has maintained a ‘Buy' rating on Mishra Dhatu Nigam Ltd. and raised its target price to Rs 480 from Rs 445, implying an upside of around 15% from the current levels.
MIDHANI delivered its best-ever quarter in Q4 FY26, with its topline broadly in line with the brokerage estimate; thus, validating management's repeated assertion that execution shortfalls in H1 were a timing phenomenon, and not a structural one.
Highlights:
- Revenue grew 34.6% YoY to Rs 5,527 million, with QoQ doubling, as deferred H1 dispatches were executed.
- Ebitda, at Rs 1,160 mn, grew 24.3% YoY, with margins down 170 basis points at 21% (higher input costs at current stage).
- Other income jumped to Rs 144 mn (vs Rs 76 million in Q4 FY25), reflecting higher treasury income on a robust cash balance.
- PAT of Rs 777 mn grew 38.5% YoY at an effective tax rate of 27.3%.
- Current order book is at ~Rs 23 billion with expected order inflow to the tune of ~Rs 15 bn in FY27.
Click on the attachment to read the full report:
DISCLAIMER
This report is authored by an external party. NDTV Profit does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of NDTV Profit.
Users have no license to copy, modify, or distribute the content without permission of the Original Owner.
Essential Business Intelligence, Continuous LIVE TV, Sharp Market Insights, Practical Personal Finance Advice and Latest Stories — On NDTV Profit.
