MISHRA DHATU NIGAM LTD

Mishra Dhatu Nigam Limited (MIDHANI ), a Central Public Sector Undertaking (CPSU) was set up on November 20, 1973 and has established itself as a premier manufacturer of special steels, superalloys, and titanium alloys. At present, Company is engaged in manufacturing of Super Alloys, Titanium base Alloys, Special Stainless Steel in semi-finished forms and other special metals. MDNL is one of the few metallurgical plants of its kind in the world, designed to manufacture a wide range of special metals and alloys using integrated and highly flexible manufacturing systems. The Company manufactures unique combinations of metal and alloys. These special alloys have superior mechanical properties and better workability which are essential for special applications in aerospace, power generation, nuclear, defence and other general engineering industries. These products are key ingredients for strategic sectors in India, which typically cannot be imported from other countries due to its national security related concerns. The manufacturing facilities include Primary and Secondary melting furnaces such as Electric Arc Furnace with Ladle Refining Furnace, Vacuum Degassing/ Vacuum Oxygen Decarburisation, Vacuum Induction Melting Furnace, Vacuum Induction Refining Furnace, Vacuum Arc ReMelting Furnace, Electro Slag Re-Melting Furnace and Electron Beam Melting Furnace. Subsequent operations are carried out at 6000T/1500T Forge Presses, Ring Rolling Mill, Hot Rolling and Cold Rolling Mills, Bar and Wire Drawing Mills etc. based on the output, form and sizes required. The auxiliary supporting services like conditioning, heat treatment, machining, pickling, quality control also forms part of MIDHANI's manufacturing processes. The Company manufactures special steels like martensitic steel, ultra high strength steel, austenitic steel and precipitation hardening steel. It manufactures three varieties of Superalloys - nickel base, iron base and cobalt base. It also manufactures varieties of titanium alloys. Most of the orders executed by the Company are in the nature of an import substitute. The Company has the competence of developing and manufacturing customised alloys tailor-made to suit the specific requirements of customers for their critical applications. Presently, the company conducts the operations at manufacturing facility in Hyderabad. It is in the process of setting up two new manufacturing facilities in Rohtak and Nellore. It has several certifications including the ISO 9001:2008 - Quality Management System and AS 9100 C for manufacturing and supply of metals and alloy products. The Company has the research and development laboratory which is accredited to National Accreditation Board for Testing and Calibration Laboratories. With the constant developments made over the years in various operational areas, by utilizing in-house research and development capabilities, the Company indigenized various critical technologies, alloys and products which reduced dependence on imports of these critical materials. The Company has been handling challenging developmental tasks, taking a lead position in indigenisation of critical technologies and products to render support to several programmes of national importance. The company was incorporated as a private limited company with the name 'Mishra Dhatu Nigam Private Limited' on November 20, 1973. Being a Government Company, the word private was deleted from name of the company by the RoC on June 15, 1974. The status of the Company was changed from a private limited company to deemed public limited company under the provisions of Section 43A with effect from July 01, 1983. The production unit of MIDHANI, located at Kanchanbagh, in Hyderabad, was commissioned in the year 1982. It was established to achieve self-reliance in production and supply of various super alloys, special steels, materials to Strategic Sectors of the country. The company started commercial production in 1983-1984. During the year 1987-1988, the company entered into the field of fabrication of special armour panels. During the year 2000-2001, the company developed bio implants from Titanium alloys. The status of the Company was again changed from deemed public company to a private limited company after notification of the Companies (Amendment) Act, 2000 on 27 February 2001 and the word private was not inserted in the certificate of incorporation. During the year 2001-2002, the company developed Niobium alloy required for critical space applications. In 2002-2003, the company commenced supply of indigenized special fasteners. In 2015-2006, the company developed large forgings of Chromium -Molybdenum steel in the form of weld neck flanges, blind flanges etc. During the year 2006-2007, the company developed gun barrel forgings. In 2008-2009, the company achieved Mini Ratna category-1 status from the Ministry of Defence. In 2009-2010, the company commenced commercial production of 6.5 metric tonnes vacuum induction melting furnace. In 2010-2011, the company commissioned critical equipment like 10 tonnes vacuum arc re-melting furnace. In 2011- 2012, the company implemented the e-Procurement portal for publishing and processing tenders online. In 2014-2015, the company commissioned 6000 tonnes forge press and electron beam melting furnace. In 2015-2016, the company commissioned in-house designed 20 tonnes electro slag refining furnace and 10 tonnes vacuum arc re-melting furnace. In 2016-2017, the company commissioned 20 tonnes electric arc furnace. The company was converted into a public limited company on November 13, 2017. On 17/01/2018 the company filed Draft Red Herring Prospectus and on 16/03/2018 filed Red Herring Prospectus with SEBI for raising Rs. 435.02 cr. The Issue dates were from 21/03/2018 to 23/03/2018 with Price Band of Rs. 87 to Rs. 90. The Issue got subscribed 1.21 times leading to its Issue Price being fixed at Rs. 90. The Shares got listed in BSE and NSE on 04/04/2018 at Rs. 87.00 which is 3.33% below Issue Price. On 18 April 2018, Mishra Dhatu Nigam Limited informed the stock exchanges that it has entered into two non-binding MoU at the recently concluded Defexpo India-2018. MIDHANI and National Aluminium Co. Ltd. (NALCO) set up a Joint Venture Company, Utkarsha Aluminum Dhatu Nigam Limited. This JVC was incorporated on 21st August, 2019, for establishing a manufacturing plant at Nellore, Andhra Pradesh for manufacturing of high end Aluminium Alloy products and to meet the market demand in sectors such as Defence, Space and National Aluminium Co. Ltd. During COVID-19 crisis, MIDHANI developed and supplied 1.5 kg. of 0.16 mm Nickel Wire with purity ~100%, which was critically required for the manufacture of Oxygen sensor pertaining to the 'Critical Core Ventilator' being produced by Bharat Electronics Limited (BEL) for COVID-19 patients. The material was developed and supplied for the first time within 96 hours during the lockdown period which had helped to establish an indigenous source of critical raw material which otherwise had to be imported. In FY 21, the Company developed spider casting, fulfilling stringent Aerospace requirements for Semi CryoEngine of Satellite Launch Vehicle'. Its indigenously manufactured impellers, made of Nickel based Super Alloy were delivered to customers. It supplied first consignment of Superfer 800 (Alloy 800) Steam Generator Tubes for 700 MWe Pressurized Heavy-Water Reactor (PHWR) for application in Energy Sector on February 15, 2021. Under Atma Nirbhar Bharat' initiative, indigenously manufactured impellers made of Nickel Super Alloy 'Superni 600' was delivered for application in Energy sector on March 16, 2021. It developed and supplied Rolled Homogenous Armor (RHA) Steel for Missile Penetration Test. RHA steel, which was being imported was indigenously developed under Atmanirbhar Bharat Programme'. The Company dispatched first consignment of high temperature alloy on March 20, 2021 with 75% indigenous content for the country's indigenous Kaveri Dry Engine Program' powering the Unmanned Combat Aerial Vehicle (UCAV). The consignment contained Nickel base Super-alloy and Titanium alloy forged bars thoroughly qualified in airworthy certification requirements used for various Class I and Class II components of the engine. During the year 2021, the Company manufactured large size forged slab made of Titanium alloy for Gaganyaan Mission and Titanium tubes through forge route. It developed Superfer 52, a high strength precision alloy for spring application, Cobalt free high strength steel for export order. It developed and supplied wide slab made of Titanium alloy for Advanced Medium Combat Aircraft (AMCA) project. It developed fine grained bar feed stock made of Super alloy for Aero engine disc Application, Blade blank for Adour Engine, Pack Rolling of Titanium Sheet, Process optimization of special alloys using AI and was certified for development of Aero grade Bearing Steel. The Company dispatched first consignment of Ultra High Strength Steel and Cobalt alloy with stringent quality requirements for Prestigious Human Space Flight Program of ISRO 'Gaganyaan'. During the year 2021, the Company developed Titanium Alloy Casting ('74 kg) for Strategic Application. It delivered sets of Isothermally Forged Titanium Alloy High Pressure Compressor Disc using complete indigenous technology under Industry Research Partnership for aerospace application in FY21. It developed and supplied to National Aluminium Co. Ltd (NALCO) Caster Roll Shells which are shrink fitted on the core and used for casting of Aluminium Strip with nominal thickness of 7 mm. During FY 2020-21, MIDHANI was awarded ISO 14000:2015 (EMS) Certification for Environmental management and ISO 45001:2018 (OHSMS) Certification for Occupational Health and Safety Assessment. It has been certified with ISO 14001:2015 (Environmental Management System). In 2021-22, MIDHANI developed PT 1M Seamless Pipes for applications in sea and fresh water; developed Top Hatch, primary viewport, and secondary viewports for deep sea Spherical Pressure Hull (SPH) components; Zircalloy Tubes were forged and supplied for its use in Energy applications; Borated Zirconium Strip of 1mm x 10mm X 1000mm for use in Energy application; developed and manufactured, Fluid End Component- MDN 16-5-1, Super Martensitic Stainless Steel for its application in Oil and Gas Sector; MIDHANI in collaboration with DMRL, developed 5 types of bearing steels. The Light Combat Aircraft Tejas LSP4 completed one hour flight accommodated with indigenous aircraft bearings for the critical gear box on February 8, 2022. During the year 2021-22, MIDHANI commissioned a Wide Plate Rolling facility; for manufacturing and supply of Helical Compression Springs for Railway Wagons, Coaches, Locomotives, a Spring Manufacture unit was set up and commissioned; Replacement of old reheating furnace of capacity 30T for heating of billets was setup in Forge shop and the furnace was commissioned; a 20T capacity Fixed Hearth Furnace for reheating of smaller ingots was commissioned; revamping of Bogie drive of the furnace was completed; Tempering furnace for Wide Plate Mill (WPM) was commissioned. A new 8T Capacity Vacuum Induction Melting' Furnace (VIM) was set up and made operational; 300 Kg Vacuum Arc Skull Melting Furnace was installed; an armour unit of MIDHANI was set up at Rohtak, Haryana; Major construction activities of Phase-I & Phase was completed; Equipment like Fiber cutting machine, Water jet cutting machine, Hydraulic ballistic press, CNT spray machine, etc were commissioned. In 2022-23, MIDHANI achieved a significant milestone by manufacturing Titan 31 plate for the qualification of the Wide Plate Mill, specifically catering to the requirements of VSSC (Vikram Sarabhai Space Centre) - ISRO for the prestigious Gaganyaan Mission. It manufactured Superni C-276 (Haste Alloy), a corrosion-resistant nickel-based alloy; supplied feedstock and mill forms of high-temperature alloys for the prestigious Kaveri dry engine program; completed development and certification of Superni 115 LPT blade blank for aeroengines; additionally completed development and certification of Titan 26M, a Titanium alloy capable of withstanding temperatures up to 520°C under creep conditions; the newly established armour unit at Rohtak, Haryana commenced production and delivered 15 bulletproof vehicles of the Isuzu Shaurya model to the J&K police. Additionally, 47 MIDHANI Twarit model vehicles were dispatched to the J&K police. The unit has also supplied composites for mine-proof vehicles to AVNL's- (Armoured Vehicle Nigam Limited), Vehicle Factory, Jabalpur. During the year 2022-23, MIDHANI launched heavy forging slabs measuring 127 (T) x 590 (W) x 900 (L) mm; launched forged bars of Hastelloy-X; developed a high-performance alloy, comprising Nickel- Chromium- MolybdenumTitanium, specifically designed for the Indian Molten Salt Breeder Reactor (IMSBR); achieved indigenous bulk production of High-Pressure Compressor (HPC) discs using Titanium alloy TITAN26A. A Joint Venture Company i.e. Advanced Materials (Defence) Testing Foundation, was incorporated on June 4, 2024 by the Ministry of Defence in FY 2023-24. For manufacturing and supply of Helical Compression Springs Project for Railway Wagons, Coaches, Locomotives, a Spring Manufacture Unit was set up and commissioned in FY 2024. MIDHANI's spring plant facility with a capacity of more than 60,000 springs per annum was approved by Research Designs & Standards Organisation (RDSO) in June, 2024. A New Titanium Melting Plant was established during the year. It established an advanced Isothermal Forging Facility integrated with its 6000T press. It commissioned a 20T and 12T LPG-fired fixed hearth furnaces for billet reheating, with the 20T furnace already operational in FY24. The new Titanium Plant, having a production capacity of 250-300 tonnes per month became operational in FY 2025. Company launched two important and indigenous nickel-based superalloys-Superni 41 hot rolled plates and IHTA forged billets. The plant for manufacturing Helical Compression Springs for railway wagons, coaches, and locomotives was established in FY25. MIDHANI undertook a major augmentation of its Bar & Wire Drawing (B&WD) Shop during the year. It launched further hot rolling parameters for manufacturing wide plates using Titan32, PT3B, and Titan31 alloys. It completed extensive type testing for BT1-0 cold rolled sheets, PT1-M seamless pipes, and PT3B plates, sheets, fasteners, forged products, and hot-rolled bars. It established and developed the thermo-mechanical processing parameters for BT20 alloy ring components for the aerospace requirement. It launched the supply of three grades of cast Ni-based superalloys for Aeroengine applications in 2025. MIDHANI developed and optimized the thermo-mechanical processing parameters for Titan31A alloy bars of 500mm and 420mm diameter.