Hyderabad: City-based Mishra Dhatu Nigam Limited (MIDHANI), has achieved an all time high sales turnover of Rs. 436 Crores as against a target of Rs. 370 Crores and a Profit After Tax of Rs. 45 Crores for the financial year 2010-11. This Mini Ratna, Defence Public Sector undertaking, has orders valued over Rs. 707 Crores of which orders worth Rs. 415 Crores were booked during the year.
According to the provisional results announced by the Chairman and Managing Director, Mr. M. Narayana Rao, the company has more than tripled its sales turnover from Rs. 125 crores after its turnaround in 2003-04. The value added per employee went up from Rs. 7.06 (03-04) to Rs. 26.33 (10-11). Similarly the productivity per employee has gone up from Rs. 9.05 lakhs to Rs. 43.41 (10-11)
The overall performance during the year would enable the Company to achieve “Excellent” MoU rating for the eighth year in a row and pay dividend to the Government for the eighth successive year. As part of in-house development, Midhani manufactured and commissioned an 10T Electro slag refining furnace, an Electric discharge-cutting machine and Band saw machine too. An exclusive Fasteners plant run by women employees has been inaugurated during the year for manufacturing Super alloys, Titanium and special steels fasteners for catering to aerospace and naval applications.
The Company has embarked upon a massive modernization and up-gradation program partly funded by its strategic customers and from its own internal resources to meet the hi-tech special materials requirements for the ambitious “ Human in Space” and other programs of Department of Space as also for the country’s nuclear power program.
The company, set up primarily for self reliance in critical materials, the hi-tech metallurgical facility of MIDHANI 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 Responsibilities and about 70 customized prosthesis were provided to terminally ill patients during the year. (NSS)