India's MIDHANI aims to expand titanium and nickel superalloy production for defense and aerospace, but upstream raw material dependencies remain a
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Mishra Dhatu Nigam Limited (MIDHANI)
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About Mishra Dhatu Nigam Limited (MIDHANI)
Mishra Dhatu Nigam Limited (MIDHANI) is an Indian central public sector undertaking founded in 1973 and headquartered in Hyderabad, manufacturing special steels, superalloys and titanium alloys for strategic and defense applications. Listed on India’s NSE and BSE under the ticker MIDHANI following its 2018 IPO, the company remains majority owned (around 74%) by the Government of India under the Ministry of Defence. MIDHANI produces nickel-, iron- and cobalt-base superalloys, titanium alloys and high-strength special-purpose steels that serve as critical import substitutes for India’s aerospace, defense, space and energy programs. While not a rare earth miner, MIDHANI is a downstream advanced-materials and metallurgy enterprise consuming critical minerals and strategic metals to enable national self-reliance in high-performance alloys. The company reported FY2025-26 revenue of approximately Rs 1,105 crore and is recognized as a key pillar of India’s strategic materials supply chain.
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