MIDHANI, a Mini Ratna Category I Defence enterprise has declared a Dividend of Rs.37.47 crores for the year 2014-15 @ 20% on the paid-up share capital of Rs.187.34 crores.
Dr.D.K.Likhi, Chariman & Managing Director, MIDHANI along with Directors handed over the final Dividend cheque of Rs.33.47 crores to Shri Manohar Parikar, Hon’ble Raksha Mantri on 27th January, 2016. This is the fourth consecutive year when the Company has paid full dividend to the Government as per guidelines and 12th successive year for payment of dividend. The cumulative dividend paid is more than it’s equity base.
The Company has achieved a record sales turnover of Rs.655 crores in 2014-15 and poised to achieve a turnover of exceeding Rs.700 crores during the F.Y.2015-16. With the present growth trajectory, the Company is expected to achieve a sales turnover of Rs.1000 crores during the F.Y. 2016-17.
The Company has already installed 20 T Arc Furnace during 2015-16, which will facilitate manufacturing of Rolls & Shafts of higher size. A major project for manufacturing of wide plate is coming up under ‘Make-in-India’ program. With the available retained earnings and leveraging, the Company is targeting to set-up the Armour, Tungsten powder & Tungsten alloys and Aluminum Alloys business in the coming years.
The Company has received wide appreciation from Government of India for armouring of MI-17 helicopters with indigenous technology and the Raksha Mantri award for Innovation has been declared for the efforts made by MIDHANI.
MIDHANI set up primarily for Self Reliance in critical materials has been supporting programmes of National importance in strategic sectors including Space, Defence, Atomic Energy etc. thereby fulfilling Self Reliance and Make in India goals of the country.