ICICI Securities: Mishra Dhatu Nigam Q2 FY21 Concall Update - Execution Outlook Remains Strong 
An employee directs a colleague moving rolls of steel with a crane in Odisha, India. (Photographer: Dhiraj Singh/Bloomberg)

ICICI Securities: Mishra Dhatu Nigam Q2 FY21 Concall Update - Execution Outlook Remains Strong 

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ICICI Securities Report

Mishra Dhatu Nigam Ltd. highlighted that despite the slowdown in space launches, and space revenue mix falling to 40% in FY21E, it does not expect any material change in margins.

This is mainly due to the high-margin maraging steel comprising of 70-80% of revenue mix in FY21E (similar to FY20) and titanium alloys also increasing their revenue contribution.

Management expects to cross FY20 revenues in FY21; all the melt shops are running at full utilisation to achieve the same.

With the current utilisation stretched through the year, Rs 10 billion revenue target for FY22 appears realistic.

Click on the attachment to read the full report:

ICICI Securities- Mishra Dhatu Nigam Q2 FY21 Concall Update.pdf

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