MTAR Technologies
MTAR Technologies
Aerospace & DefenseKey Fundamentals
SmallcapEngineeringAerospace & DefensePrice-based figures as of 12 Oct 2026, 14:35 IST · EPS basis: Standalone · TTM
Tapetide Score
Data-driven rating, 0–100. How it works →
Key Insights
Strengths
3- Company is expected to give good quarter
- Company's median sales growth is 20.4% of last 10 years
- Company's working capital requirements have reduced from 145 days to 70.7 days
Weaknesses
5- Stock is trading at 28.5 times its book value
- Though the company is reporting repeated profits, it is not paying out dividend
- Promoter holding has decreased over last quarter: -1.09%
- Company has a low return on equity of 9.58% over last 3 years.
- Debtor days have increased from 115 to 140 days.
Growth Rate
change over 1 year
change over 1 year
change over 1 year
change over 1 year Operating margin 24% · Jun 2026
AI Analysis — Bull vs Bear
As of the 2026-10-09 close, MTAR Technologies trades at ₹7,781.5, giving a market cap of ₹23,935.58 Cr. That is about 318% above its 52-week low of ₹1,866.2 and about 10.7% below its 52-week high of ₹8,714. Growth has picked up sharply, with TTM sales up 53% and TTM profit up 127%. Over three years, though, profit CAGR is -1% and ROE averages about 10%. The stock trades at a TTM P/E of 177.82 and a P/B of 29.1, with debt-to-equity at 0.46.
- Growth has accelerated: TTM compounded sales growth is 53%, well above the 3-year sales CAGR of 15%. This suggests a step-up in execution or order flow.
- TTM profit growth is 127%. Earnings are rebounding strongly from a flat stretch where 3-year profit CAGR was -1%.
- Working capital requirements have fallen from 145 days to 70.7 days, roughly halving the cash cycle. That improves cash conversion and lowers funding needs.
- Sales have grown consistently over the long term. Median sales growth over the last 10 years is 20.4%, and 10-year and 5-year sales CAGRs are 27% and 29%.
- Return ratios are improving. Last-year ROE was 13%, above the 3-year average of 10%, and current ROCE is 15.3%, higher than the reported ROE of 11.43%.
- Leverage is moderate, with debt-to-equity at 0.46. The balance sheet has room for capacity expansion without excessive strain.
- The stock has strong momentum, with a 1-year return of 292% and 3-year and 5-year CAGRs of 43% and 39%. This reflects sustained market recognition of its precision engineering position in defence, space, nuclear and clean energy.
- The company is expected to report a good quarter. That could help support the higher TTM earnings base of about ₹43.76 EPS.
- Valuation is very high. A TTM P/E of 177.82 implies an earnings yield of about 0.56%, so the price already assumes years of high growth.
- Price-to-book is 29.1 while ROE is 11.43%. Investors are paying a large premium to book value for returns that are only modest.
- Medium-term profit growth has been weak, with a 3-year compounded profit CAGR of -1%. The 127% TTM jump comes partly off a depressed base.
- Capital efficiency has been low over time. ROE averaged about 10% over 3 years and 11% over 5 and 10 years, and screener data puts the 3-year average at 9.58%.
- Debtor days have risen from 115 to 140. This points to slower collections and greater dependence on a concentrated base of large customers.
- Promoter holding fell by 1.09% over the last quarter, which can affect sentiment.
- Shareholders get almost no income return. The dividend yield is 0.04% and payouts are negligible despite repeated profits.
- The stock is volatile. Its 52-week range spans ₹1,866.2 to ₹8,714, a roughly 4.7x swing, so it can fall sharply if growth disappoints.
This is AI-generated analysis, not financial advice. Do your own due diligence.
AI News Digest
- Promoter sells 20,000 shares Sep 18
Promoter Leelavathi Parvatha Reddy sold 20,000 equity shares on the open market, cutting her holding to 12,98,712 shares (4.22% of total capital). The stake is small, but promoter selling can weigh on sentiment.
- Promoter pledges 32,000 shares Sep 19
Promoter Kavitha Reddy Gangapatnam pledged 32,000 shares with 360 One Distribution Services on September 17, 2026, to take a loan. Coming a day after another promoter sold shares, more pledging could be a mild governance concern.
- Strong AGM shareholder support Sep 28
All six resolutions passed at the 27th AGM, including borrowing limits and director re-appointments, with strong shareholder support. The approved borrowing limits give the company room to fund growth.
- Mumbai investor meetings Sep 21
The company held in-person one-on-one and group meetings with analysts and institutional investors in Mumbai on September 24, 2026, from 10:00 am to 6:00 pm. This kind of outreach often comes before new institutional buying.
- Trading window closed for Q2FY27 Sep 23
The trading window for designated persons is closed from October 1, 2026, until 48 hours after the Q2FY27 results are declared. This is a routine compliance step ahead of earnings.
TL;DR: MTAR Technologies' recent news is mostly about governance and routine compliance. Shareholders strongly backed all six AGM resolutions, and the company is actively meeting institutional investors. The small risks are promoter-level: one promoter sold 20,000 shares and another pledged 32,000 shares within two days. Overall the trend looks stable, and Q2FY27 results in October will be the next real test of order-book execution and margins.
Quarterly Results
| Particulars | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 152 | 167 | 118 | 143 | 128 | 190 | 174 | 183 | 157 | 136 | 278 | 306 | 361 |
| Expenses | 119 | 130 | 95 | 125 | 112 | 154 | 141 | 149 | 128 | 119 | 214 | 244 | 276 |
| Operating Profit | 34 | 36 | 24 | 18 | 16 | 37 | 33 | 34 | 28 | 17 | 64 | 62 | 85 |
| OPM % | 22% | 22% | 20% | 13% | 13% | 19% | 19% | 19% | 18% | 13% | 23% | 20% | 24% |
| Other Income | 4 | 1 | 1 | 1 | 1 | 2 | 3 | 0 | 1 | 4 | -1 | 17 | 8 |
| Interest | 6 | 5 | 6 | 6 | 5 | 5 | 6 | 6 | 6 | 6 | 8 | 10 | 16 |
| Depreciation | 5 | 6 | 6 | 6 | 6 | 8 | 9 | 10 | 8 | 9 | 9 | 9 | 9 |
| PBT | 27 | 26 | 13 | 7 | 6 | 25 | 22 | 19 | 15 | 6 | 46 | 60 | 68 |
| Tax % | 26% | 20% | 19% | 32% | 28% | 26% | 25% | 25% | 26% | 24% | 24% | 26% | 25% |
| Net Profit | 20 | 21 | 11 | 5 | 5 | 19 | 16 | 14 | 11 | 5 | 35 | 44 | 50 |
| EPS (₹) | 6.44 | 6.77 | 3.43 | 1.65 | 1.48 | 6.11 | 5.31 | 4.62 | 3.65 | 1.49 | 11.43 | 14.42 | 16.42 |
Profit & Loss
| Particulars | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 81 | 81 | 101 | 157 | 184 | 214 | 246 | 322 | 573 | 580 | 676 | 876 | 1,080 |
| Expenses | 79 | 71 | 113 | 125 | 130 | 156 | 163 | 228 | 419 | 468 | 555 | 705 | 853 |
| Operating Profit | 2 | 11 | -12 | 32 | 54 | 58 | 83 | 94 | 154 | 112 | 121 | 171 | 228 |
| OPM % | 2.3% | 13% | -12% | 20% | 29% | 27% | 34% | 29% | 27% | 19% | 18% | 20% | 21% |
| Other Income | 3 | 1 | 1 | 1 | 4 | 4 | 1 | 9 | 20 | 6 | 6 | 20 | 27 |
| Interest | 8 | 7 | 5 | 4 | 4 | 5 | 7 | 7 | 14 | 22 | 22 | 29 | 39 |
| Depreciation | 5 | 5 | 5 | 11 | 11 | 12 | 13 | 14 | 18 | 23 | 32 | 34 | 36 |
| PBT | -7 | -1 | -22 | 17 | 42 | 46 | 65 | 82 | 141 | 73 | 72 | 127 | 180 |
| Tax % | -36% | -133% | -30% | 68% | 6% | 31% | 29% | 26% | 26% | 23% | 26% | 25% | — |
| Net Profit | -5 | 0 | -15 | 5 | 39 | 31 | 46 | 61 | 104 | 56 | 54 | 95 | 135 |
| EPS (₹) | -1.64 | 0.06 | -5.34 | 1.92 | 13.89 | 11.7 | 14.98 | 19.79 | 33.84 | 18.29 | 17.51 | 30.99 | 43.76 |
| Div. Payout % | 0% | 0% | 0% | 0% | 22% | 43% | 40% | 15% | 0% | 0% | 0% | 0% | — |
Balance Sheet
| Particulars | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 28 | 28 | 28 | 28 | 28 | 27 | 31 | 31 | 31 | 31 | 31 | 31 |
| Reserves | 180 | 181 | 166 | 177 | 207 | 198 | 446 | 489 | 590 | 646 | 700 | 795 |
| Borrowings | 49 | 26 | 29 | 20 | 29 | 29 | 17 | 96 | 143 | 190 | 177 | 377 |
| Other Liabilities | 48 | 38 | 71 | 56 | 41 | 92 | 93 | 112 | 299 | 139 | 220 | 542 |
| Total Liabilities | 306 | 273 | 294 | 281 | 305 | 346 | 586 | 728 | 1,063 | 1,006 | 1,128 | 1,744 |
| Fixed Assets | 145 | 146 | 148 | 152 | 162 | 155 | 167 | 196 | 282 | 332 | 425 | 497 |
| CWIP | 8 | 8 | 8 | 2 | 6 | 12 | 11 | 44 | 63 | 68 | 53 | 34 |
| Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 62 | 34 | 7 | 7 | 222 |
| Other Assets | 152 | 119 | 138 | 127 | 137 | 179 | 409 | 425 | 683 | 600 | 643 | 990 |
| Total Assets | 306 | 273 | 294 | 281 | 305 | 346 | 586 | 728 | 1,063 | 1,006 | 1,128 | 1,744 |
Cash Flow
| Particulars | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating | — | — | — | 14 | 42 | 56 | 9 | -30 | 9 | 55 | 102 | 192 |
| Investing | — | — | — | -1 | -33 | -12 | -22 | -145 | -88 | -54 | -104 | -347 |
| Financing | — | — | — | -14 | -7 | -41 | 180 | 54 | 32 | 25 | -35 | 155 |
| Net Cash Flow | — | — | — | -1 | 2 | 3 | 167 | -121 | -47 | 27 | -37 | -1 |
| Free Cash Flow | — | — | — | 12 | 18 | 44 | -14 | -121 | -97 | -35 | 2 | 65 |
| CFO/OP | — | — | — | 53 | 96 | 109 | 24 | -12 | 27 | 69 | 96 | 127 |
Ratios
| Particulars | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 71 | 88 | 140 | 114 | 100 | 105 | 114 | 154 | 132 | 92 | 113 | 140 |
| Inventory Days | — | — | — | 269 | 240 | 382 | 467 | 535 | 524 | 421 | 369 | 397 |
| Days Payable | — | — | — | 87 | 35 | 155 | 158 | 179 | 296 | 74 | 112 | 119 |
| Cash Conversion Cycle | 71 | 88 | 140 | 296 | 305 | 332 | 423 | 510 | 360 | 438 | 370 | 419 |
| Working Capital Days | 418 | 331 | 177 | 132 | 114 | 59 | 175 | 191 | 189 | 194 | 170 | 71 |
| ROCE % | 0% | 2% | -7% | 10% | 18% | 19% | 19% | 16% | 22% | 11% | 11% | 15% |
Insights
BetaAI-extracted from concalls & annual reports · figures as reported, with sources
Log in to view MTAR Technologies insights
64 extracted metrics + investor summaries across FY15–FY27.
Documents
Frequently Asked Questions about MTAR Technologies
What does MTAR Technologies Ltd do?
Where is MTAR Technologies Ltd (MTARTECH) listed?
Which sector does MTAR Technologies Ltd belong to?
What is the market capitalisation of MTAR Technologies Ltd?
What is the PE ratio of MTAR Technologies Ltd?
What is the 52-week high and low of MTAR Technologies Ltd?
Does MTAR Technologies Ltd pay dividends?
What is the Return on Equity (ROE) of MTAR Technologies Ltd?
Company Information
MTAR develop and manufactures components and equipment for the defense, aerospace, nuclear and clean energy sectors. The co. was incorporated in 1970 by the promoters, Mr PR Reddy, Mr KSN Reddy and Mr PJ Reddy, to cater to the technical and engineering needs of the Indian govt in the post embargo regime. MTAR has manufacturing footprints in Hyderabad with seven units spread across a 4 km radius and a dedicated export facility as well. [1]In addition, the company also supplies specialised products such as Ball Screws, Water Lubricated Bearings, Roller Screws, Electro-Mechanical Actuation Systems, ASP assemblies etc. that find applications across diverse sectors.[2]
For AI agents and developers
Reading this as an AI agent, LLM or automated pipeline? Every page on Tapetide is also published as clean Markdown — no navigation, no scripts, just the data. Fetch https://tapetide.com/stocks/MTARTECH.md for MTAR Technologies Ltd: company profile, latest price, key fundamentals, the Tapetide Score, growth rates, quarterly and annual financial statements, shareholding pattern, technical indicators, analyst ratings and exchange filings.
Append .md to any Tapetide URL for the
same treatment. A full index of what we publish is at /llms.txt and /llms-full.txt. For
live, structured queries instead of documents, use our Indian stock market MCP server.