State-owned specialty metals and alloys producer Mishra Dhatu Nigam Ltd (MIDHANI) reported a 45.6% year-on-year decline in net profit to ₹12.95 crore for the quarter ended September 2025, compared to ₹23.82 crore a year earlier.

The company's revenue fell 20% to ₹209.7 crore, down from ₹262.1 crore, while EBITDA declined 32.8% to ₹32.5 crore against ₹49.06 crore in the same quarter last year. Operating margins also narrowed to 15.7% from 18.7% year-on-year, impacted by lower execution and cost pressures.

Despite the subdued quarterly performance, the company maintained a robust order book of ₹1,869 crore as of October 1, 2025, supported by steady demand from the defence, aerospace, and energy sectors.

Chairman and Managing Director N Gowri Sankara Rao had earlier told CNBC-TV18 that

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