Shares of Mishra Dhatu Nigam Ltd (MIDHANI) experienced a significant surge, climbing nearly 12% in Thursday's trade to reach a 52-week high of Rs 456.90. This impressive rally followed the announcement that MIDHANI has secured the coveted S400 approval from GE Aerospace, marking a significant milestone for the Indian company.
MIDHANI confirmed that it is now the first company in India to receive Independent and International Metallic Material Laboratory (S400) approval from GE Aerospace. This comprehensive certification covers a wide array of chemical, mechanical, and metallurgical testing for various materials.
Boost for Aerospace Sector and Self-Reliance
The company highlighted that this prestigious recognition underscores its steadfast commitment to quality, technical excellence, and adherence to global standards in metallic material testing and qualification. "This achievement reinforces MIDHANI's position as a trusted partner to the global aerospace industry and marks another significant step in India's journey towards self-reliance in advanced materials," MIDHANI stated in its exchange filing.
MIDHANI expressed gratitude to GE Aerospace for their confidence and collaboration, acknowledging the expertise and dedication of its team in achieving this milestone. The company believes this will further strengthen India's capabilities within the global aerospace ecosystem.
Strong Financial Performance Supports Growth
Alongside the strategic approval, MIDHANI also reported robust financial results for the quarter ended June 2026. The company's profit after tax (PAT) rose to Rs 16.31 crore, a substantial 27.42% increase from Rs 12.80 crore recorded in the corresponding quarter of the previous year.
Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) for the same quarter stood at Rs 46.60 crore, up 12.89% from Rs 41.28 crore year-over-year. MIDHANI's turnover also saw significant growth, reaching Rs 239.49 crore, a 40.46% increase from Rs 170.50 crore in the prior year's comparable quarter. The company's order book position remained strong, valued at Rs 2,329 crore as of July 1, 2026.