Mishra Dhatu Nigam PAT at Rs166.29cr in Q4FY21; stock trades lower

Best ever Profit Before Tax (PBT) of Rs226.09cr for the FY 2020-21 registering a growth of 11.88% over the PBT of Rs202.09cr achieved during the previous FY 2019-20.

Jun 25, 2021 02:06 IST India Infoline News Service

Stock Exchange
Mini-Ratna Defence PSU Mishra Dhatu Nigam Limited (MIDHANI) has achieved Best Ever Turnover of Rs813.23cr for the year FY 2020-21 registering a growth of 14.08% over the Turnover of Rs712.88cr achieved during the previous FY 2019-20.

Operating Profit of Rs206.26cr for the FY 2020-21 registering a growth of 24.52% over the Operating Profit of Rs165.65cr achieved during the previous FY 2019-20.

Best ever Profit Before Tax (PBT) of Rs226.09cr for the FY 2020-21 registering a growth of 11.88% over the PBT of Rs202.09cr achieved during the previous FY 2019-20.

The stock is currently trading at Rs208.95 down by Rs1.4 or 0.67% from its previous closing of Rs210.35 on the BSE. The scrip opened at Rs216.50 and has touched a high and low of Rs218.65 and Rs207.65 respectively.

Profit After Tax (PAT) of Rs166.29cr for FY 2020-21, against the of Rs159.73cr, achieved during the previous FY 2019-20. PAT for the previous financial year includes the deferred tax benefit due to the implementation of new corporate tax rates.

During the FY 2020-21, the company paid an interim dividend of Rs1.20 per equity share and further proposes to pay another Rs1.58 per equity share as the final dividend for 2020-21. The total dividend (including interim dividend) for the financial year 2020-21 is Rs2.78 per equity share (par value Rs10/- each). This works out to 31.32% of PAT which is the highest dividend being paid by the company.

The Company’s financial results for the year ended 31st March 2021, have been impacted by the lockdown on account on COVID-19 more particularly during Qi. The company was not operational for 45 days due to lockdown during the 1st quarter of the financial year 2020-21 due to which the Value of Production (V0P) has been impacted, however, Company achieved the best ever results in terms of Revenue and PBT during the financial year.

The order book position as of 01-04-2021 stood at Rs1353cr.

The Company has assessed the possible impact of COVID-19 on its financial statements based on the internal and external information available upto the date of approval of these financial results including but not limited to its assessment of the company’s liquidity, recoverable values of property, plant and equipment, intangible assets and the net realisable values of other assets, as per filing.

The Company continues to monitor changes in future economic conditions while taking steps to improve operational efficiencies and the financial outcome.

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