As India’s strategic ambitions in defense, aerospace, and energy continue to expand, the listed public sector firm Mishra Dhatu Nigam (MIDHANI) finds itself at the intersection of national priorities and advanced materials engineering. The company’s recent performance and commentary reveal a business that is not only stable but actively positioning itself for long-term relevance.
One of the most promising areas for MIDHANI is its involvement in indigenous fighter jet and aeroengine programs. With materials like ultra-high strength steels, super alloys, and titanium alloys forming the backbone of these platforms, MIDHANI’s expertise is central to their development. The company has already contributed to the Kaveri engine program and is anticipating significant orders from future projects like AMCA and Mark 2. These are not just manufacturing opportunities—they represent a strategic alignment with India’s push for self-reliance in defense technology.
Titanium and super alloys are another growth frontier. MIDHANI has commissioned a 500-tonne-per-annum titanium mill and invested ₹50 crore in a dedicated Titanium Vacuum Arc Remelting facility. The company is also developing and supplying Alloy 718, a high-temperature super alloy used in aero engines. In addition, MIDHANI has developed a proprietary alloy named 740H for ultra-supercritical power projects, in collaboration with NTPC, IGCAR, and NFC. These materials are designed for high-temperature applications and are expected to play a role in next-generation power plants.
Additive manufacturing is emerging as a transformative technology, and MIDHANI is preparing to enter this space through strategic alloy powder production. With many of these powders currently imported, the company’s move to establish domestic manufacturing capabilities could reduce dependency and open up new markets.
The Rohtak armor facility adds another dimension to MIDHANI’s portfolio. The company is working on vehicle and body armoring solutions, including bulletproof jackets developed through technology transfers from BARC (Bhabha Kavach) and IIT Delhi (ABHED). These products are designed to meet higher ballistic protection standards and are already receiving interest from state police departments and central forces. While the segment is still ramping up, initial orders have been received, and more are expected.
Exports remain a modest but growing part of the business. MIDHANI currently exports to 22 countries, primarily in Europe. With global defense spending on the rise and geopolitical shifts creating new demand, the company expects to expand its international footprint.
Looking ahead, MIDHANI has set a target to grow its topline from ₹1,100 crore to ₹2,000 crore over the next five years. This growth will be driven by capacity expansion, strategic collaborations, and entry into new product categories. The company’s leadership acknowledges that while the volumes may be small, the complexity and strategic importance of its materials make the business fundamentally different from conventional steel manufacturing.