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Midhani registers record turnover

Midhani registers record turnoverMidhani registers record turnover
Highlights

Midhani has recorded a turnover of over Rs 701.50 Cr (provisional and unaudited) for the financial year ended on March 31, 2019 (Corresponding figure for the previous year was Rs 661.69 Cr). The company has posted a revenue growth of more than 6% during FY 2018-19.

Hyderabad (NSS): Midhani has recorded a turnover of over Rs 701.50 Cr (provisional and unaudited) for the financial year ended on March 31, 2019 (Corresponding figure for the previous year was Rs 661.69 Cr). The company has posted a revenue growth of more than 6% during FY 2018-19.

MIDHANI has also recorded its best ever Value of Production (VoP) of Rs. 800 Cr. (provisional and unaudited) which is a growth of more than 14% over FY 2017-18 (Rs 679 Cr)

The unaudited provisional figures for FY 2018-19 indicate that the expenses towards R&D and CSR activities are highest ever incurred by MIDHANI in any financial year. On the MoU front, as the performance for the FY 2018-19 is consolidated, we expect to achieve "excellent" rating against the "very good" rating secured for the FY 2017-18.

During the year, we were also able to attain best ever Forge Production with new additions of equipment and modernization. MIDHANI has started FY 2019-20 with a healthy order book of Rs. 1657 Cr. As on April 1 as against Rs. 520 Cr. for the corresponding period of previous year.

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