PSU Midhani clocks all-time high sales turnover

Government-run Mishra Dhatu Nigam Ltd (Midhani) has achieved an all-time high turnover in sales at Rs 595 crore in the just-concluded financial year.
The mini ratna defence PSU had set a turnover target of Rs 560 crore in FY14, which it ended with best-ever sales figure, Midhani said in a statement.
The company has orders valued at over Rs 1,100 crore, according to the provisional results announced by Chairman and Managing Director M Narayana Rao.
Midhani has achieved a four-fold increase in its sales turnover since its turnaround in 2003-04.
The overall performance during the year would enable the company to achieve "excellent" MoU rating once again and pay dividend to the Government for the 11th successive year, the statement said.

The company's massive modernisation and up-gradation programmes are progressing as scheduled, it said.
Midhani, set up primarily for achieving self-reliance in the manufacture of critical materials, is a hi-tech metallurgical facility.
It has been supporting programmes of national importance in strategic sectors, including space, defence, aeronautics, atomic energy and general engineering.