MIDHANI creates new records under 'Make in India'
Hyderabad, April 1 (INN): The city based Mishra Dhatu Nigam Limited (MIDHANI) , a Mini Ratna, Defence Public Sector enterprise attained number one position amongst the Defence Public Sector undertakings and Steel Sector by achieving 1.01 MoU Score (near Perfect) during 2014-15 and has recorded an all time high sales turnover of Rs 760 Crores as against a target of Rs 680 Crores and a Profit Before Tax of Rs.150 Crores during the financial year 2015-16.- and orders valued over Rs. 1100 Crores, Dr. Dinesh Kumar Likhi, Chairman and Managing Director while announcing the provisional results here today.
The company has registered 15% growth during the year and is poised to achieve 30% during 2016-17 by venturing into new business areas such as Tungsten, Armouring, Special Castings, Aluminium alloys etc. Under 'Make in India' programme our company will focus on new products to save precious foreign exchange and also put global foot print in years to come said Dr Likhi.
The overall performance during the year would enable the Company to achieve 'Excellent" MoU Rating for the twelth year and pay dividend to the Government for the 13th successive year, opined Dr Likhi.
This hi-tech metallurgical facility set up primarily for self reliance in critical materials, has been supporting programmes of national importance in strategic sectors including Space, Defence, Aeronautics, Atomic Energy and General Engineering industries. The advanced aerospace technologies have also been employed as a spin off to develop and manufacture a wide range of low cost Titanium Bio-medical implants, as a measure of Corporate Social Responsibility.
News Posted: 1 April, 2016
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