Midhani turnover touches Rs 800 cr

Midhani, the speciality materials maker for the strategic sectors has logged a turnover of Rs 800 crore for the financial year 2016-17, a growth of 8 per cent over the previous fiscal’s Rs 760 crore.

The Hyderabad-based, defence public sector unit has reported a profit before tax of Rs 175 against Rs 150 crore last year. This 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 meets the indigenous materials needs of the defence, space, aeronautics, atomic energy and general engineering.