MIDHANI announces ‘Metal Bank’, posts record ₹1,206 crore sales

Mishra Dhatu Nigam Limited (MIDHANI) has announced the creation of a ‘Metal Bank’ to ensure an uninterrupted availability of critical raw materials for defence projects of national importance. The announcement came as the defence public sector undertaking recorded its highest-ever annual sales of ₹1,206 crore, reflecting a 12% year-on-year growth over the previous year’s ₹1,074 crore.

According to an official release issued on Wednesday, MIDHANI also successfully executed export orders worth ₹85 crore during the year. Key contributors to the growth included the supply of superalloys and titanium alloys for indigenous aero-engine programmes, along with performance-critical materials for the Indian Navy and the space sector.

Notable deliveries during the year comprised nickel-based single-crystal cast sticks, wrought superalloy bars, and rolled rings for aerospace applications, as well as high-strength low-alloy steels for naval use. The PSU said it raised titanium production by 40% and expanded capabilities into the manufacture of aerospace fasteners, superalloy and titanium castings, welding consumables, and fabricated titanium structures.

As part of its technology-driven diversification, MIDHANI has also obtained technology transfer from IIT Delhi for manufacturing ABHED bulletproof jackets, the release added.