MTAR Technologies Ltd
MTARTECH NSE
MTAR Technologies Ltd
Aerospace & DefenseNSE: MTARTECH BSE: 543270 Engineering
Key Fundamentals
SmallcapEngineeringAerospace & DefenseMarket Cap
₹22,005 Cr
Volatility
Moderate
P/E Ratio
162.98
EBITDA
₹157 Cr
Return on Equity
7.26%
Debt to Equity
0.46
Book Value
₹267.43
52W High
₹8,714
52W Low
₹1,390.5
Insights
BetaAI-extracted from concalls & annual reports · figures as reported, with sources
Log in to view MTAR Technologies Ltd insights
46 extracted metrics + investor summaries across FY15–FY26.
Tapetide Score
Data-driven rating, 0–100. How it works →
Technical Indicators
Key Insights
Strengths
2- Company is expected to give good quarter
- Company's median sales growth is 20.4% of last 10 years
Weaknesses
5- Stock is trading at 26.3 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 9.63% over last 3 years.
- Debtor days have increased from 115 to 140 days.
Growth Rate
Revenue Growth
27.06% ↗
Net Income Growth
82.85% ↗
Cash Flow Change
76.42% ↗
ROE
-12.53% ↘
ROCE
-6.38% ↘
EBITDA Margin (Avg.)
-4.70% ↘
AI Analysis — Bull vs Bear
anthropic claude-opus-4.6 5d agoAI opinion · based on fundamentals
Risk high
MTAR Technologies is a Hyderabad-based precision engineering company in the Aerospace & Defense sector trading at a market cap of ~Rs 22,467 crore with a PE of 164.3x and PB of 26.65x. FY26 revenue grew ~31% YoY to Rs 876 crore with PAT of Rs 94 crore (up 78% YoY), while the order book stood at Rs 2,580 crore with management guiding for ~50% revenue growth and 24-25% EBITDA margins in FY27.
Bull Case 8
- FY26 revenue grew 31% YoY to Rs 876 crore and PAT surged 78% YoY to Rs 94 crore, showing strong earnings acceleration after a flat period
- Order book stands at Rs 2,580 crore with management expecting it to reach ~Rs 5,000 crore by FY27 close, providing multi-year revenue visibility
- Q4 FY26 revenue jumped 67% YoY to Rs 306 crore with net profit rising 223% YoY to Rs 44 crore, indicating improving execution
- Management has guided for ~50% revenue growth in FY27 with EBITDA margins expanding to 24-25% from 19.5% in FY26, signalling operating leverage
- 10-year compounded sales CAGR of 27% and median sales growth of 20.4% over the last decade demonstrate a consistent long-term growth track record
- Company received an amended purchase order worth $41.17 million from an existing customer in late 2025, reflecting repeat business and deepening client relationships
- Diversified order book across clean energy, civil nuclear, aerospace & defence reduces single-sector dependency
- TTM sales growth of 53% and TTM profit growth of 127% indicate the business is in an acceleration phase
Bear Case 8
- Stock trades at 164.3x PE and 26.5x book value — extremely expensive relative to current earnings even after the recent profit jump
- 3-year compounded profit CAGR is -1%, indicating the strong TTM performance follows a period of earnings stagnation between FY22-FY25
- Return on equity averaged only ~10% over 3 years and 13% in the last year, low for a stock commanding such premium multiples
- Debtor days have increased from 115 to 140 days, indicating deteriorating working capital efficiency and potential cash flow strain
- FY26 EBITDA margin came in at 19.5%, below guidance, impacted by rising headcount and expansion costs
- Promoter holding decreased by 1.09% in the last quarter, signalling potential dilution or reduced promoter confidence
- Despite reporting repeated profits, the company pays negligible dividends (yield of 0.04%), offering no income return to shareholders
- Q2 FY26 was notably weak with revenue of just Rs 135 crore, EBITDA margin of 12.6%, and PAT of only Rs 4.2 crore — execution remains lumpy and quarter-to-quarter volatile
This is AI-generated analysis, not financial advice. Do your own due diligence.
AI News Digest
anthropic claude-opus-4.6 20h ago Positives 3
- Record Q1 revenue, 364% PAT surge Jul 29
Q1 FY27 revenue hit ₹360.7 crore (up 130.4% YoY) with net profit surging 364.5% to ₹50.2 crore. EBITDA margin expanded to 23.86% from 18.17% YoY.
- Order book at ₹5,943 crore Aug 6
Order book stands at ₹5,943 crore with new inflow of ₹800 crore in Q1 FY27, providing strong revenue visibility.
- Amended PO raises contract to $325M Jul 30
Existing customer's purchase order amended to USD 324.62 million (~₹3,100 crore), adding an incremental USD 85.86 million (~₹820 crore) to the order book.
Neutral 3
- Analyst meet and plant visit Aug 17
MTAR scheduled an analyst meet and plant visit in Hyderabad for August 21, 2026, from 7:30 am to 11:00 am under SEBI LODR compliance.
- Investor meet in Mumbai Jul 30
Analyst and institutional investor meetings held on August 4, 2026 in Mumbai in both in-person and virtual formats from 9:00 am to 6:00 pm IST.
- Q1 earnings call scheduled Jul 24
Q1 earnings call was scheduled for July 30 at 11 AM to review quarterly financial performance.
TL;DR: MTAR Technologies delivered a breakout Q1 FY27 with revenue more than doubling and PAT surging 364%, driven by clean energy and aerospace segments. The order book at ₹5,943 crore (including a single amended contract worth ~₹3,100 crore) provides multi-year revenue visibility. No material headwinds are visible in recent news flow. The trend is strongly improving with execution catching up to the large order backlog built over prior quarters.
Quarterly Results
| 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 in Rs | 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
| 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 in Rs | -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
| 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
| 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
| 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 | 160 |
| ROCE % | 0% | 2% | -7% | 10% | 18% | 19% | 19% | 16% | 22% | 11% | 11% | 15% |
Documents
1
Clarification sought from MTAR Technologies Ltd
12 Jun - Exchange has sought clarification from MTAR Technologies Ltd on June 12, 2026, with reference to news appeared in https://www.cnbctv18.com dated June 12, 2026 quoting "MTAR … 12 Jun - Exchange has sought clarification from MTAR Technologies Ltd on June 12, 2026, with reference to news appeared in https://www.cnbctv18.com dated June 12, 2026 quoting "MTAR …
2
Format of the Initial Disclosure to be made by an entity identified as a Large Corporate : Annexure A
30 Apr - MTAR Technologies says it is not a Large Corporate; FY2026-27 initial disclosure not applicable. 30 Apr - MTAR Technologies says it is not a Large Corporate; FY2026-27 initial disclosure not applicable.
3
Format of the Annual Disclosure to be made by an entity identified as a LC - Annexure B2
30 Apr - MTAR Technologies confirms it is not a large corporate; FY26 debt borrowing nil. 30 Apr - MTAR Technologies confirms it is not a large corporate; FY26 debt borrowing nil.
4
Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation
7 May - Q4 and FY26 earnings conference call scheduled for 13 May 2026 at 11:00 a.m. IST. 7 May - Q4 and FY26 earnings conference call scheduled for 13 May 2026 at 11:00 a.m. IST.
5
Board Meeting Intimation for Audited Financial Results For The Quarter And Year Ended 31St March, 2026
6 May - Board meeting on 12 May 2026 to approve audited Q4 and FY2026 financial results. 6 May - Board meeting on 12 May 2026 to approve audited Q4 and FY2026 financial results.
Frequently Asked Questions about MTAR Technologies Ltd
What does MTAR Technologies Ltd do?
MTAR develops and manufactures components and equipment for the defense, aerospace, nuclear and clean energy sectors. The company 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 government in the p...
Where is MTAR Technologies Ltd (MTARTECH) listed?
MTAR Technologies Ltd is listed on the Indian stock exchanges. It is listed on NSE: MTARTECH and BSE: 543270. You can view its live share price, financials, and ratios on Tapetide.
Which sector does MTAR Technologies Ltd belong to?
MTAR Technologies Ltd operates in the Aerospace & Defense sector within the Engineering industry. Sector classification helps investors compare companies affected by similar economic conditions and regulatory changes.
What is the market capitalisation of MTAR Technologies Ltd?
MTAR Technologies Ltd has a market capitalisation of approximately ₹22005.41 Cr. Based on this, it is classified as a Large Cap stock.
What is the PE ratio of MTAR Technologies Ltd?
The Price-to-Earnings (PE) ratio of MTAR Technologies Ltd is 162.98. The PE ratio compares a company's share price to its earnings per share and is commonly used to assess whether a stock is overvalued or undervalued relative to its peers.
What is the 52-week high and low of MTAR Technologies Ltd?
Over the past 52 weeks, MTAR Technologies Ltd has traded between a low of ₹1,390.5 and a high of ₹8,714. This range helps investors understand the stock's price volatility and recent trading levels.
Does MTAR Technologies Ltd pay dividends?
Yes, MTAR Technologies Ltd has a dividend yield of 0.04%. Dividend yield indicates the annual dividend income relative to the share price. A consistent dividend history can signal financial stability.
What is the Return on Equity (ROE) of MTAR Technologies Ltd?
MTAR Technologies Ltd has a Return on Equity (ROE) of 7.26%. ROE measures how effectively a company uses shareholders' equity to generate profits. A higher ROE generally indicates better capital efficiency.
How can I research MTAR Technologies Ltd on Tapetide?
On Tapetide, you can view MTAR Technologies Ltd's live share price, quarterly results, profit & loss statements, balance sheet, cash flow, key ratios, shareholding pattern, technical indicators, analyst ratings, and forecasts — all on a single page without needing to sign up.
Company Information
MTAR develops and manufactures components and equipment for the defense, aerospace, nuclear and clean energy sectors. The company 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 government 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]