Mishra Dhatu Nigam announced that a joint venture agreement oincorporate a Section 8 Company under Companies Act, 2013) under Defence Testing Infrastructure Scheme (DTIS) promulgated by Department of Defence Production, Ministry of Defence has been executed between consortium of five (5) Companies i.e.Mishra Dhatu Nigam (MIDHANI); Bharat Dynamics; Hindustan Aeronautics; Yantra India; and PTC Industries along with Uttar Pradesh Expressways Industrial Development on 06 May 2024.The proposed registration of the Section 8 Company with the Ministry of Corporate Affairs will bear the name �Advanced Materials (Defence) Testing Foundation` or any other similar name as the case maybe.The main object of incorporation of Joint Venture Company under DefenceTesting and Infrastructure Scheme promulgated by Ministry of Defence isto provide focused, structured, and significant thrust to indigenousResearch, Development and Manufacturing in the Defence Sector,with special focus on participation of MSMEs and Startups, by providing state of the art testing facilities.The company will subscribe to 20% stake in the joint venture company with capital investment of Rs 3 crore. Powered by Capital Market - Live News

Mishra Dhatu Nigam announced that the Board of Directors of the Company at its meeting held on 14 March 2024, inter alia, have recommended the interim dividend of Rs 1.41 per equity Share (i.e. 14.1%) , subject to the approval of the shareholders.Powered by Capital Market - Live News

Mishra Dhatu Nigam will hold a meeting of the Board of Directors of the Company on 14 March 2024.Powered by Capital Market - Live News

Mishra Dhatu Nigam; BEML; and Bharat Electronics signed tripartite Memorandum of Understanding (MoU) for indigenous development of Advanced Fuelling and Control System for Engines for heavy duty applications.This collaborative initiative will focus on leveraging indigenous capabilities to design, test, and manufacture an Advanced Fuelling and Control System that offers enhanced efficiency, performance, and reliability. By harnessing the latest advancements in engine technology and control systems, the companies aim to extend their domain expertise for development of engine systems which will ensure self-reliance in the field of Combat vehicles. Powered by Capital Market - Live News

Net profit of Mishra Dhatu Nigam declined 66.87% to Rs 12.80 crore in the quarter ended December 2023 as against Rs 38.63 crore during the previous quarter ended December 2022. Sales rose 2.81% to Rs 233.09 crore in the quarter ended December 2023 as against Rs 226.73 crore during the previous quarter ended December 2022. ParticularsQuarter Ended�Dec. 2023Dec. 2022% Var. Sales233.09226.73 3 OPM %15.4028.96 - PBDT33.6967.52 -50 PBT19.2353.94 -64 NP12.8038.63 -67 Powered by Capital Market - Live News