Companies

Midhani net up 16% at ₹ 175 cr in FY’17

Our Bureau Hyderabad | Updated on January 15, 2018 Published on April 03, 2017

Midhani, the speciality materials maker for the strategic sectors has logged a turnover of ₹ 800 crore for the financial year 2016-17, a growth of 5 per cent over the previous fiscal’s ₹760 crore.

The Hyderabad-based, defence public sector unit has reported a profit before tax of ₹ 175 against ₹ 150 crore last year.

The sales turnover is the highest in the company’s history and also includes the best-ever value added per employee highest amongst all defence PSUs, said Dinesh Kumar Likhi, Chairman & Managing Director.

In a press release he said the company will venture into near areas such as al alloys, tungsten powder, springs and solar power area in the near future. Midhani caters to the indigenous materials needs of the defence, space, aeronautics, atomic energy and general engineering.

Published on April 03, 2017
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