Today's Top Gainer
Note:Top Gainer - Nifty 50 More
|Chairman & Managing Director||D K Likhi|
|Director||S K Jha|
|Nominee (Govt)||Sanjay Jaju|
|Independent Director||SURENDRA SINH|
|Company Secretary||Paul Antony|
Mishra Dhatu Nigam Limited (MDNL) is one of the leading manufacturers of special steels, Superalloys and the only manufacturer of titanium alloys in India. These are high value products cater to niche end user segments such as defence, space and power. The company was established in the year 1973, with an aim of achieving self-reliance in the research, development and supply of critical alloys and products of national security and strategic importance. It has emerged as a National Centre for Excellence in advanced metallurgical production of special metals and Superalloys in India. It has the technological ability to manufacture a wide range of advanced metals and alloys under one roof.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 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 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.