Midhani receives orders worth ₹635 crore during 2017-18

Midhani, the defence public sector undertaking and special material supplier to strategic sector, received orders of more than ₹635 crore during the 2017-18 financial year.

It added orders worth ₹165 crore during March itself due to uniqueness in the products and process capability. Major orders were received for high value added products like titanium, super alloy and maraging steel. Some of the key orders would support strategic projects like missiles (MRSAM of Indian army), space programme (PSLV, GSLV launches) and aerospace (advanced light helicopter programme of HAL).

According to a release, the percentage of orders executed during the same year of booking had increased from 27% in FY-15 to 55% during FY-17. The company had changed its strategy from make to order to “make to anticipated order” during the previous year. In addition, it decided to produce grades for other sectors like oil and gas, railway, mining and automobiles, which is expected to increase revenue in the year 2018-19.

Midhani is likely to witness flow of orders from nuclear sector in the coming months, the release added.