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C&MD Message

Dr. Dinesh Kumar Likhi                                                                 
Chairman & Managing Director


Happy New Year, and warmest greetings as we begin 2018!   

Year 2017 has just concluded and it has been a mixed bag. Together we achieved a Sales Turnover of around Rs. 810 Crores for the financial year 2016-17, which is best ever in the history of MIDHANI. We recorded highest profits since inception. For the fifth consecutive year MIDHANI achieved “Excellent” rating against MOU parameters. Hon’ble RakshaMantri dedicated to the nation the facilities commissioned under Phase # 1 of MIDHANI’s Modernisation programme and also performed the ground breaking ceremony for the mega project of Wide Plate Mill. MIDHANI embarked upon the Phase # 2 of its ambitious Modernisation & Expansion plan. Our Company acquired land at Nellore, Andhra Pradesh and at Rohtak, Haryana for setting up an Aluminium Alloy Plant and an Armouring Unit respectively. With these acquisitions and firm plans in place MIDHANI is poised to grow from a single unit organization to a multi-unit organization.  These are small yet significant steps that is going to define the future MIDHANI. The 3rd Pay Revision for Executives and Non-Unionised Supervisors was implemented successfully. The process of listing of MIDHANI’s shares on the Stock Exchanges also took shape in 2017.

However, the production and profitability performance for the current financial year has not been in line with the targets. The year 2017 also witnessed a couple of accidents in the Plant and though by the grace of the almighty there were no fatalities, the incidents do compel us to introspect and take a hard look at our working practices and production discipline. For MIDHANI, Safety always comes first.

Looking forward, I look at the year 2018 as a crucial year for overcoming the challenges and regaining the momentum. Our long-term vision essentially remains unchanged - To achieve Self- Reliance in the research, development, manufacture and supply of critical alloys and products of National Security and Strategic Importance. While adding value to our customers, we continue to serve the nation with pride and humility. Our challenges also remain unchanged,

1. Recover and upgrade our manufacturing capabilities;

2. Improve our cost competitiveness and deliveries;

3. Broaden our product portfolio, tap and venture into new markets such as Armouring sector, Ship Building sector, Power sector, Railways and other Engineering Industries so as to ensure a more consistent top line with growth; and

4. Pass on technical skills to younger personnel to ensure sustainable growth;

5. Achieve our Modernisation & Expansion milestones with no cost or time over-runs.

Some of the strategic initiatives that we started in 2017 are scheduled to complete in 2018. Our investments in Capital equipment’s also should start yielding dividends in the latter half of the current year. In the first half of 2018, MIDHANI shall have an upgraded and modernised Forge shop in place. It is our responsibility to ensure that we start producing 1000 tonnes forgings per month from the second half of the year.

The year 2018 shall be the year of overcoming challenges and getting back on a growth track. We must maximize the intended positive effects of the strategic measures that we have been implementing under our Business plan.We must produce tangible results this year, so I am asking each one of you to contribute your 100% for MIDHANI. Let’s join hands to make MIDHANI - a company that we all take pride in - strong and vibrant again. Opportunities lost should act as a beacon enabling us to focus on the new challenges that need our attention.

As you work, please focus on two keys: delegate authority to encourage people to try new things and solve problems proactively through effective two-way communication irrespective of age, generation, position or section. We need to create a workplace where people do not wait for instructions but act on their own initiative as per need.

Ensuring safety and health in our workplaces remains a top priority. So we must devote even more energy towards eliminating accidents in 2018.

Once again, I take this opportunity to reiterate that “Together, we can” scale new heights and meet any challenge that comes our way. Wishing you and your loved ones a blessed and successful New Year.

Thank you everyone,

Jai Hind

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Last Updated and Reviewed on 23-05-2018