Mittal Group

What Mittal Group does

Mittal Group is a privately-held Indian manufacturing conglomerate founded in 1907, now in its sixth generation of family ownership under Chairman & Managing Director Dinesh Mittal. Operating through two flagship subsidiaries — Mittal Appliances Limited (defense/small arms ammunition components) and Mittal Coin Private Limited (coin blanks, coinage, medals) — the group employs 500+ people across an Indore corporate office and two Pithampur manufacturing facilities. End-to-end capabilities span melting, casting, rolling, annealing, polishing, heading, drawing, and finishing of non-ferrous metals, with annual capacities of 300 million cartridge cases/tubes, 2 billion brass cups, 24,000 MT of strips, and 36,000 MT of casting. The group is ISO 9001:2015 certified, holds an A- credit rating, and operates digital manufacturing with real-time monitoring and data-driven operations.

The group's revenue model is B2B hardware sales via direct enterprise relationships, with customers across the global small arms ammunition industry (Indian Ordnance Factories, Indian Army, Indian Navy, and global ammunition manufacturers), government mints (India, Thailand, Dominican Republic, Peru, and a strategic partnership with Royal Canadian Mint), corporate medal buyers (Tata Group, MMTC, Volvo-Eicher, Bank of Baroda, B-Braun, Emami), and EV battery manufacturers. Pricing is negotiated contract-by-contract on multi-year supply agreements, with go-to-market executed through direct enterprise sales supplemented by participation in SHOT Show and DEFEXPO. Revenue is stated at US$170+ million across five verticals (defense ammunition components, coin blanks and currency, medals and craftworks, EV components, and strips/foils), with the company being India's largest manufacturer of cases, tubes, cups, coin-blanks, medals, strips and foils.

The group has expanded into copper components for EV batteries, is pushing into the US market under sixth-generation Director Arnav Mittal, and is layering Industry 4.0 digitization onto its manufacturing operations. No external funding, private equity, or public listing is disclosed; the business is entirely family-owned and self-funded.

Name

Mittal Group

Legal name

Mittal Group

Website

https://mittalgroup.com

Company type

Private

Founded year

1907

Operating status

Operating

Headcount range

501–1,000 employees

Short description

Mittal Group is a six-generation Indian family-owned manufacturer of brass cartridge cases, coin blanks, medals, and EV copper components, supplying global defense firms, government mints, and enterprises with US$170+ million in revenue.

Ownership category

akta.pro rank

Product category

Ammunition Components & Coin Blank Manufacturing

NAICS

Small Arms Ammunition Manufacturing (332992), Small Arms, Ordnance, and Ordnance Accessories Manufacturing (332994)

SIC

Ordnance & Accessories, (No Vehicles/Guided Missiles) (3480)

akta.pro primary industry

Ammunition Manufacturing (Small-, Medium- & Large-Caliber) (IMABAHAG)

Keywords

• Brass cartridge cases
• Coin blanks manufacturing
• Ammunition components supply
• Non-ferrous metal products
• Defense industrial supplies

Headquarters

HQ city

Indore

HQ country

India

HQ region

Asia

Offices3 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Supply Chain

Revenue model

1. Small Arms Ammunition Components: Revenue from manufacturing and supplying Brass Cartridge Cases, Tubes, Cups and Strips to the global small arms ammunition and defense industry. Products include 9mm, 5.56mm, 7.62mm and custom caliber ammunition components.
2. Coin Blanks and Currency Products: Manufacturing and supplying coin blanks to mints globally. India’s first and largest non-ferrous coin-blanks producer with supplies of over 7 billion coin-blanks to Indian Mints for ₹20, ₹10 and ₹5 coins. Also supplies to international mints in Thailand, Dominican Republic and Peru.
3. Medals and Craftworks: Bespoke medals and tokens with intricate high-relief designs in Gold, Silver, Copper alloys and Zinc. Craftworks including handicraft products sold through mittalcraftworks.com.
4. EV Components: Copper components for EV batteries manufactured for major auto and auto-ancillaries using high quality ETP Copper coils and sheets requiring blanking, piercing, bending and electroless plating processes.

Pricing tiers

Go-to-market motion1 record

Distribution channels4 records

Marketing channels5 records

Core offering

Mittal Group is a non-ferrous metal manufacturer producing brass cartridge cases, tubes, cups and strips for the global small arms ammunition and defense industry, along with coin blanks for government mints, copper components for EV batteries, and bespoke medals and craftworks. It operates fully-integrated, ISO 9001:2015 certified facilities in Pithampur, India, with annual capacities of 300 million cartridge cases/tubes, 2 billion brass cups and 24,000 MT of strips. Revenue is generated by direct B2B supply to defense manufacturers, government mints (India, Thailand, Dominican Republic, Peru, Canada) and corporate/automotive customers.

Product overview

Mittal Group is a US$ 170+ million revenue manufacturing business group operating across 5 verticals. The company operates two flagship companies: Mittal Appliances Limited (defense/small arms ammunition components) and Mittal Coin Private Limited (coin blanks and coinage). The product portfolio comprises defense products (Cartridge Cases, Cartridge Cups, Cartridge Tubes, Strips, Lead Wire, Brass Wire) and commercial products (Coins/Coin Blanks, EV Components, Medals, CraftWorks). All products are manufactured at a fully-integrated, state-of-the-art facility with capabilities from melting to finished products, serving global defense industry and coinage markets.

Differentiator

Problem solved

Functional benefit

Products and services

• Brass Cartridge Cases Brass cartridge cases manufactured in various calibers (9mm, 5.56mm, .223, 300 Blackout, 7.62x39, 7.62x51) with annual manufacturing capacity of 300 million pieces, supplied to the global small arms ammunition industry.
• Cartridge Cups (Case Cups and Bullet Jacket Cups) Case Cups and Bullet Jacket Cups manufactured in calibers including 5.56mm, 7.62mm and 12.7mm with annual manufacturing capacity of 2 billion pieces of brass cups, supplied to small arms ammunition manufacturers.
• Cartridge Tubes Brass cartridge tubes manufactured in various calibers with annual manufacturing capacity of 300 million pieces for small arms ammunition applications.
• Strips (Copper and Copper Alloy Strips) Copper and copper alloy strips (including 90/10 brass and 70/30 brass) manufactured to customer specifications with annual capacity of 24,000 MT, supplied for ammunition, coinage and industrial applications.
• Lead Wire Lead wire supplied in a wide range of dimensions and specifications for ammunition applications.
• Brass Wire Brass wire supplied in a wide range of dimensions and specifications for ammunition and other industries in calibers including 9mm, 5.56mm, 7.62mm and 12.7mm.
• Coin Blanks and Coins Complete range of solid and bi-metallic coins and coin-blanks in all coinage alloys (Cupro-Nickel, Nickel-Brass, Brass, Gilding Metal). India's first and largest non-ferrous coin-blanks producer with over 10 billion coin-blanks supplied to India Government Mints and exports to Thailand, Dominican Republic, Peru and the Royal Canadian Mint.
• EV Components (Copper Battery Components) Copper components for EV batteries manufactured for major auto and auto-ancillary customers using high-quality ETP Copper coils and sheets requiring blanking, piercing, bending and electroless plating processes.
• Bespoke Medals and Tokens Bespoke medals and tokens with intricate high-relief designs in Gold, Silver, Copper alloys and Zinc, including Long Service Award medals and commemoratives. Clients include Tata Group, Indian Army, Indian Navy, National Games and Infantry Marathons.
• CraftWorks Handicraft Products Diverse range of exquisite handicraft products sold through mittalcraftworks.com, extending the group's metalworking expertise into consumer craft products.

Quantifiable outcome

• 119 years of continuous operation and industry leadership since 1907
• +3 more outcomes

Named customers16 records

Segments5 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

One partnership is on record.

• Royal Canadian MintmajorStrategic or Co-development PartnerStrategic partnership for supplying minted coins and coin-blanks to prestigious mints across the world. This partnership positions Mittal Group among the global elite of coin-blanks manufacturers.

Scale indicators12 records

Recent moves6 records

Expansion highlights5 records

Broad incumbents

• BAE Systems, Inc. Global defense prime with U.S. ammunition and ordnance operations including small-caliber production. While broader than Mittal's component focus, shares the same defense OEM customer base.
• General Dynamics Ordnance and Tactical Systems: U.S. defense unit producing small, medium, and large caliber ammunition and components. Operates in the same upstream ammunition components value chain that Mittal supplies.
• Rheinmetall AG: German defense conglomerate with substantial ammunition, propellant, and weapons manufacturing operations. Larger and broader incumbent serving many of the same defense procurement customers globally.
• Winchester Ammunition (Olin Corporation): U.S. ammunition brand and manufacturer sourcing small arms cartridge cases and components. Both customer and adjacent producer in the small arms ammunition value chain.

Direct peers

• Poongsan Corporation: South Korean manufacturer of ammunition components (cartridge cases, cups, strips) and copper alloy products. Most directly comparable global peer to Mittal's core brass ammunition components business, with similar end markets in defense and coinage.
• Nammo ASA: Norwegian defense group producing small and medium caliber ammunition, including cartridge cases and components. Competes directly for global small arms ammunition OEM contracts that Mittal serves.

Emerging players

• Eley Group: UK-based specialist in small arms ammunition and components. Comparable niche positioning to Mittal in calibers like 9mm, 5.56mm and serving similar European ammunition loader customers.

Others

• Royal Canadian Mint: Strategic partner and customer of Mittal, but also operates as a coin-blank producer for the Canadian market. Represents the customer/competitive boundary in the coin blanks vertical.

Regional players

• Kalyani Group / Bharat Forge: Indian defense and auto-ancillary conglomerate with growing ammunition and metallurgical capabilities. Domestic peer competing for Make-in-India defense contracts against Mittal's preferred supplier status.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks7 records

Key highlights7 records

Customer concentration

• Instagraminstagram.com/mittalgroup
• Xx.com/mittalgroup
• Facebookfacebook.com/MittalGroup
• LinkedInlinkedin.com/company/mittalgroup

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles7 records

Subsidiaries2 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Mittal Group