Which companies are Mishra Dhatu Nigam's closest peers?

The cockpit's peer set: Alnera Aluminium (301613.SZ), Imperial Metals (III.TO), Infund (002141.SZ), Talamore Mining (TALA.TO), GRIPM Advanced Materials (688456.SS), NorthIsle Copper and Gold (NCX.V), Gold Royalty (GROY), Jiangyin Electrical Alloy (300697.SZ).

How has Mishra Dhatu Nigam stock performed?

Over six months to 6 Nov 2026 the shares returned -8.3% against -23.3% for the median peer; over one year -1.2%.

← CockpitCompetitor Analysis › MIDHANI.NS Mishra Dhatu Nigam Ltd.Open in the cockpit ↗

Mishra Dhatu Nigam Ltd.MIDHANI.NSCompetitor analysis, valuation and peers

India · INR·Metal & Mining›Other Metals/Minerals

Momentum weak 24

Competitor Analysis ▸ Charts Open in the cockpit

Mkt cap

$753M

US dollars, full cap

Free float

26%

of shares outstanding

$/day

$2.27M

20-day average traded

Fwd P/E

39.9×

forward earnings

ROIC−WACC

-8.9 pp

WACC 17.4%

Hurdle

+37 pp

Req g minus delivered

Next earnings

5 days

11 Nov 2026

Close · INR₹379.40

1D-1.8%

1W+5.2%

1M-17.3%

3M-12.6%

6M-8.3%

YTD+10.5%

1Y-1.2%

ATR %4.3%

Beta1.33

52w lowhigh21.4% off high

What Mishra Dhatu Nigam does

Employees: 866

Mishra Dhatu Nigam at a glance

Size Mishra Dhatu Nigam (MIDHANI.NS) is an India Materials company (Other Metals/Minerals) with a market value of $753M, the 693rd largest of 1,058 India companies the cockpit tracks. Shares closed at ₹379.40 on 6 Nov 2026.

Performance Over six months the shares fell 8.3%, against -23.3% for the median peer and 0.0% for the India market (cap-weighted) — 8th highest of 20 in its peer set.

Growth Revenue grew 18.2% over the last twelve months (peer median +32.4%); the operating margin is 13.6% (peer median 4.5%).

Valuation It trades at 39.9× forward earnings against a peer median of 19.2× (3rd most expensive of 9).

Price implies For today's price to make sense, revenue must grow about 45% a year for seven years (Req g). Recent delivered growth is +8%, so the hurdle is +37 pp: the price needs faster growth than the company has been delivering — of companies that just grew 25–50% a year, 93.8% slowed down over the next four years.

Capital Return on invested capital runs 8.9 points below its cost of capital (17.4% WACC).

Next results Next results expected around 11 Nov 2026 (exchange calendar; dates can move).

Relative performance

Six months, rebased to 100: Mishra Dhatu Nigam against the median of its 20 peers (local-currency closes).

Mishra Dhatu Nigam financials

Reported figures in INR; fiscal year ends 2026-03-31. TTM = trailing twelve months.
	TTM	FY2025	FY2024	FY2023	FY2022
Revenue	₹12.8B	₹12.1B	₹10.7B	₹10.7B	₹8.72B
Revenue growth	—	+13%	0%	+23%	—
Gross profit	₹4.88B	₹2.19B	₹2.01B	₹1.86B	₹2.66B
EBITDA	₹2.40B	₹2.44B	₹2.25B	₹2.01B	₹2.64B
Net income	₹1.35B	₹1.31B	₹1.11B	₹918M	₹1.56B
Free cash flow	n/a	₹964M	₹1.33B	₹1.35B	-₹1.19B
Capital expenditure	n/a	₹493M	₹677M	₹793M	₹729M
Total debt	n/a	₹4.07B	₹3.50B	₹4.33B	₹4.89B

Quarterly statements and history in the cockpit →

Mishra Dhatu Nigam competitor charts

The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.

Performance: 6-month against 1-month return

Up and to the right = strong over both horizons. Mishra Dhatu Nigam is the large dot.

Fundamentals: revenue growth against valuation

Further right = faster growth; higher = more expensive. The dashed lines are the peer medians. Mishra Dhatu Nigam is the large dot.

Capital: growth delivered against growth the price implies

Above the diagonal = the price needs more growth than the company has been delivering; below = the price already allows for a slowdown. Mishra Dhatu Nigam is the large dot.

Mishra Dhatu Nigam competitors and peer comparison

How Mishra Dhatu Nigam compares with its peers

Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.

Mishra Dhatu Nigam against its 20 peers (data as of 6 Nov 2026)
Measure	MIDHANI.NS	Peer median	Rank in peer set
1-month return	-17.3%	-18.0%	10th highest of 21
6-month return	-8.3%	-23.3%	8th highest of 20
Distance from 52-week high	-21.4%	-48.7%	3rd highest of 21
Revenue growth (TTM)	+18.2%	+32.4%	6th lowest of 13
Operating margin	13.6%	4.5%	4th highest of 14
Forward P/E	39.9×	19.2×	3rd most expensive of 9
Growth the price implies (Req g, 7 yrs)	45.3%	14.3%	2nd most demanding of 7
Growth delivered (Del g)	+8.2%	+19.9%	4th highest of 7
Hurdle (Req g minus delivered)	+37.1 pp	+0.4 pp	most demanding of 7
ROIC minus cost of capital	-8.9 pp	-6.5 pp	9th lowest of 19
EV / EBITDA	29.6×	30.3×	3rd cheapest of 6
Net debt / EBITDA	0.9×	0.3×	2nd most indebted of 6

Peer table

Peer set: Industry: the same industry and sector in any market, nearest in size
Company	Market	Market cap	6M return	Revenue growth	Op. margin	Forward P/E	Req g	Delivered g
Mishra Dhatu Nigam MIDHANI.NS	India	$753M	-8%	+18%	14%	39.9×	45.3%	+8.2%
Alnera Aluminium 301613.SZ	China	$749M	-36%	+31%	5%	n/a	13.7%	+56.0%
Imperial Metals III.TO	Canada	$759M	-2%	+5%	32%	7.6×	-7.6%	+36.1%
Infund 002141.SZ	China	$738M	+32%	-3%	11%	n/a	8.4%	+3.8%
Talamore Mining TALA.TO	Canada	$728M	-32%	n/a	n/a	n/a	n/a	n/a
GRIPM Advanced Materials 688456.SS	China	$780M	-24%	+34%	2%	49.6×	n/a	n/a
NorthIsle Copper and Gold NCX.V	Canada	$725M	+3%	n/a	n/a	n/a	n/a	n/a
Gold Royalty GROY	United States	$723M	-14%	+82%	23%	39.4×	54.3%	+58.2%
Jiangyin Electrical Alloy 300697.SZ	China	$791M	-24%	+54%	5%	n/a	n/a	n/a
Lithium Americas LAC.TO	Canada	$712M	-64%	n/a	n/a	n/a	n/a	n/a
Wenzhou Hongfeng Electrical Alloy 300283.SZ	China	$712M	-23%	+48%	5%	n/a	n/a	n/a
Develop Global DVP.AX	Australia	$801M	-43%	+68%	4%	11.8×	n/a	n/a
Jinzhou Yongshan Lithium 603399.SS	China	$821M	-45%	+50%	2%	n/a	n/a	n/a
IMC Rare Earths IMC	United States	$824M	n/a	n/a	n/a	n/a	n/a	n/a
Lithium Argentina LAR	United States	$686M	-64%	n/a	n/a	13.9×	n/a	n/a
Luyang Energy-Saving Materials 002088.SZ	China	$837M	+12%	-21%	1%	58.4×	20.8%	+1.3%
Talon Metals TLO.TO	Canada	$839M	+3%	n/a	3%	17.9×	n/a	n/a
Enviri NVRI	United States	$672M	+24%	-23%	-19%	n/a	n/a	n/a
Gruvaktiebolaget Viscaria VISC.ST	Sweden	$669M	-1%	n/a	n/a	n/a	n/a	n/a
Sigma Lithium SGML	United States	$655M	-73%	-14%	24%	20.5×	14.8%	-13.9%
Marimaca Copper MARI.TO	Canada	$652M	-18%	n/a	n/a	n/a	n/a	n/a

Questions

Which companies are Mishra Dhatu Nigam's closest peers?: The cockpit's peer set: Alnera Aluminium (301613.SZ), Imperial Metals (III.TO), Infund (002141.SZ), Talamore Mining (TALA.TO), GRIPM Advanced Materials (688456.SS), NorthIsle Copper and Gold (NCX.V), Gold Royalty (GROY), Jiangyin Electrical Alloy (300697.SZ).
Is Mishra Dhatu Nigam expensive compared with its peers?: On forward p/e it trades at 39.9× against a peer median of 19.2×, 3rd most expensive of 9 in its peer set. For today's price to make sense, revenue must grow about 45% a year for seven years (Req g). Recent delivered growth is +8%, so the hurdle is +37 pp: the price needs faster growth than the company has been delivering — of companies that just grew 25–50% a year, 93.8% slowed down over the next four years.
How has Mishra Dhatu Nigam stock performed?: Over six months to 6 Nov 2026 the shares returned -8.3% against -23.3% for the median peer; over one year -1.2%.