Midhani turnover crosses Rs 250cr

Hyderabad-based Defence sector undertaking Mishra Dhatu Nigam Limited (Midhani) reported a sales turnover of Rs 256 crore and a profit before tax of Rs 27 crore during 2007-08. The order book of the company at present stands at Rs 700 crore.

According to Midhani chairman and managing director, M Narayana Rao, it is for the first time the company has crossed the Rs 200-crore mark in its sales after its turnaround in 2003-04.

The company has embarked upon a modernisation and upgradation programme partly funded by its strategic customers and from its internal resources to meet the hi-tech special material requirement of the ambitious 'Chandrayan' and other programmes of the Department of Space and also the core of country's nuclear programme's fast breed reactors, Rao stated in a press release.

Set up primarily for achieving self-reliance in critical materials, Midhani has been supporting programmes of national importance in strategic sectors including space, Defence, aeronautics and atomic energy.

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, which have been supplied to various hospitals in the country.