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MTAR Technologies Ltd

₹ 2,5362.50%
06 Jan – close price
🔗mtar.in•BSE: 543270•NSE: MTARTECH
Market Cap₹ 7,800 Cr.
Current Price₹ 2,536
High / Low₹ 2,719
Stock P/E168
Book Value₹ 243
Dividend Yield0.00 %
ROCE10.5 %
ROE7.51 %
Face Value₹ 10.0
Sales₹ 650 Cr.
OPM17.4 %
Mar Cap₹ 7,800 Cr.

ABOUT

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]

KEY POINTS

Business Profile[1]MTAR Technologies is a leader in critical and differentiated engineered products serving multiple high-tech industries.

Also present in buckets:
Aggressive Growth TriggersExcellent ResultsRevenue GuidanceAsset Base ExpansionCapacity Expansion And ProductsOrder Book PositionLarge Order ReceiptsJv Partnerships AcquisitionsCredit Rating UpdatesRed Flags And Poor Performance

Peer Comparision

S.No.NameCurrent Price (Rs.)Price to EarningMarket Capitalization (Rs.Cr.)Dividend yield (%)Net Profit latest quarter (Rs.Cr.)YOY Quarterly profit growth (%)Sales latest quarter (Rs.Cr.)YOY Quarterly sales growth (%)Return on capital employed (%)Sales (Rs.Cr.)OPM (%)Profit after tax (Rs.Cr.)Profit after tax latest quarter (Rs.Cr.)Price to book valueReturn on assets (%)Debt to equity
1.Hind.Aeronautics4516.0035.66302018.790.891669.0510.826628.6110.9233.8832104.7830.588469.331669.078.148.820.00
2.Bharat Electron413.1053.02301966.960.581287.1617.885792.0925.7838.8825152.1129.525695.671287.7714.0013.210.00
3.Bharat Dynamics1542.5086.4456542.270.30215.8876.191147.03110.5519.664004.0814.19654.13215.8813.414.940.00
4.Garden Reach Sh.2507.5046.6028723.910.55153.7957.301677.3845.4936.645900.309.56616.41153.7912.515.020.01
5.Data Pattern2678.6064.2414995.870.2949.1962.45307.46237.7921.00920.0433.05233.4349.199.7512.180.00
6.Zen Technologies1350.2049.3112191.000.1561.91-6.29173.57-28.2337.22808.9738.44247.2558.736.7921.380.01
7.Apollo Micro Sys266.55111.739523.630.0933.05108.25225.2640.1714.54669.0026.0485.2433.058.255.200.29
8.MTAR Technologie2535.80168.297800.020.004.59-75.56135.59-28.7010.51649.7217.4146.354.5910.454.950.25
–Median: 26 Co.652.9561.585073.610.1115.6438.59130.3819.2118.09533.4321.8244.5615.648.147.670.08

Quarterly Results

Standalone figures in ₹ crores

Dec 2022Dec 2023Dec 2024Jun 2023Jun 2024Jun 2025Mar 2023Mar 2024Mar 2025Sep 2022Sep 2023Sep 2024Sep 2025
Sales
160.17118.22174.45152.16128.23156.58196.33142.94183.10125.85166.72190.18135.59
Expenses
115.0394.52141.08118.55111.78128.13147.72124.79148.8390.70130.50153.61118.59
Operating Profit
45.1423.7033.3733.6116.4528.4548.6118.1534.2735.1536.2236.5717.00
Other Income
5.810.593.304.210.670.764.660.560.175.421.001.603.83
Profit before tax
42.3713.0321.8126.656.3315.2042.657.4118.9933.4326.1325.336.00
Tax %
25.16%18.96%25.13%25.67%28.28%26.12%27.92%31.71%25.28%24.68%20.28%25.86%23.50%
Net Profit
31.7210.5616.3319.814.5411.2330.745.0714.2025.1820.8318.784.59
EPS in Rs
10.313.435.316.441.483.659.991.654.628.196.776.111.49

Profit & Loss

Standalone Figures in ₹ Crores / Yearly

Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025TTM
Sales
1058181101157184214246322573580676650
Expenses
867971113125130156163228419468555537
Operating Profit
19211-123254588394154112121113
Other Income
23111441920668
Interest
98754457714222224
Depreciation
10555111112131418233235
Profit before tax
3-7-1-221742466582141737262
Net Profit
2-50-15539314661104565446
EPS in Rs
0.64-1.640.06-5.341.9213.8911.7014.9819.7933.8418.2917.5115.07
Dividend Payout %
0%0%0%0%0%22%43%40%15%0%0%0%–

Compounded Profit Growth

10 Years:30%
5 Years:11%
3 Years:-4%
TTM:19%

Compounded Sales Growth

10 Years:24%
5 Years:26%
3 Years:28%
TTM:12%

Return on Equity

10 Years:10%
5 Years:11%
3 Years:11%
Last Year:8%

Stock Price CAGR

10 Years:%
5 Years:%
3 Years:16%
1 Year:47%

Balance Sheet

Standalone figures in ₹ crores

Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Sep 2025
Equity Capital
28282828282827313131313131
Reserves
185180181166177207198446489590646700716
Borrowings
444926292029291796143190177186
Other Liabilities
7348387156419293112299139220241
Total Liabilities
3303062732942813053465867281,0631,0061,1281,174
Fixed Assets
151145146148152162155167196282332425475
Gross Block
204.70203.11208.73215.95179.81197.83202.79227.31270.95371.41442.12566.11–
Accumulated Depreciation
53.3557.7162.9667.7127.5835.6447.6960.2574.5689.10110.18141.21–
CWIP
78882612114463685312
Investments
000000006234777
Other Assets
171152119138127137179409425683600643681
Total Assets
3303062732942813053465867281,0631,0061,1281,174

Cash Flows

Standalone Figures in ₹ Crores / Yearly

Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Cash from Operating Activity
––––1442569-30955102
Cash from Investing Activity
––––-1-33-12-22-145-88-54-104
Cash from Financing Activity
––––-14-7-41180543225-35
Net Cash Flow
––––-123167-121-4727-37

Ratios

Standalone Figures in ₹ Crores / Yearly

Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Debtor Days
56718814011410010511415413292113
Inventory Days
––––269240382467535524421369
Days Payable
––––873515515817929674112
Cash Conversion Cycle
567188140296305332423510360438370
Working Capital Days
30041833117713211459175191189194170
ROCE %
4%0%2%-7%10%18%19%19%16%22%11%11%

Shareholding Pattern

Numbers in percentages

Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025
Promoters
47.18%46.63%39.14%39.14%37.26%37.26%36.42%36.42%31.42%31.77%31.65%31.41%
FIIs
3.79%2.51%4.52%8.81%11.02%10.57%7.74%7.81%7.01%6.74%7.57%9.21%
DIIs
28.31%27.57%28.02%24.06%18.97%18.07%15.96%17.28%23.17%24.40%23.51%24.81%
Public
20.72%23.28%28.32%27.98%32.76%34.10%39.88%38.49%38.39%37.10%37.26%34.58%

* The classifications might have changed from Sep'2022 onwards.ℹ️

BSE Announcements AI Summary

Direct from BSE filings, auto-summarised

MTAR Technologies Shareholders Approve Increased Borrowing Limits, Asset Charges, and Director Remuneration

8th April 2026, 10:25 pm

MTAR Technologies Files SEBI Compliance for Q4 FY26

3rd April 2026, 10:44 pm

MTAR Technologies Closes Trading Window Ahead of FY26 Audited Results

27th March 2026, 4:37 pm

MTAR Technologies Shareholders Approve Key Resolutions on Borrowing Powers, Asset Charges, and Director Commissions

21st March 2026, 12:25 am

MTAR Technologies Shareholders Approve Key Resolutions on Borrowing, Assets, and Director Pay

21st March 2026, 12:23 am

Published by Other Websites

External media mentions & references

MTAR Technologies: Motilal Oswal Sees 20% Upside on Oracle-Bloom Deal

16th April 2026, 2:42 pm

Indian Markets Reverse Early Gains; Metals Surge Amid Volatility

16th April 2026, 1:21 pm

MTAR Technologies Eyes $14B-$17B Orders Via Oracle-Bloom AI Deal

16th April 2026, 1:05 pm

MTAR Tech Target Soars to ₹6,000 on AI Data Center Boom

16th April 2026, 7:41 am

Indian Stocks Surge: Swaraj Engines, RailTel, IT Rally on Strong Results

15th April 2026, 1:09 pm

News Articles

Editorial & research coverage

India Defence Sector Surges on ₹3.6T Procurement; Budget Boosts Outlook
India Defence Sector Surges on ₹3.6T Procurement; Budget Boosts Outlook

13th February 2026, 12:00 pm

MTAR Tech Soars: Record Highs Mask Valuation Concerns
MTAR Tech Soars: Record Highs Mask Valuation Concerns

10th February 2026, 9:47 am

India Nuclear Push: Valuations Clash With Execution Risks
India Nuclear Push: Valuations Clash With Execution Risks

9th February 2026, 6:14 am

HAL Out of AMCA Race; Defence Bets on Private Sector Power
HAL Out of AMCA Race; Defence Bets on Private Sector Power

8th February 2026, 12:46 pm

Defence Stocks Tumble on Delivery Delays; HAL Leads Losses
Defence Stocks Tumble on Delivery Delays; HAL Leads Losses

5th February 2026, 11:36 am

Documents

Announcements

Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018
Disclosures under Reg. 31(1) and 31(2) of SEBI (SAST) Regulations, 2011.
Disclosures under Reg. 31(1) and 31(2) of SEBI (SAST) Regulations, 2011
Closure of Trading Window
Closure of Trading Window

26 Dec - Trading window closed from 1 Jan 2025 until 48 hours after quarter ending 31 Dec 2025 results.

Annual Reports

Financial Year 2025

(from bse)

Financial Year 2024

(from bse)

Financial Year 2023

(from bse)

Financial Year 2022

(from bse)

Financial Year 2021

(from bse)

Credit Ratings

Rating update

13 Oct 2025 from icra

Rating update

23 Sep 2024 from icra

Rating update

30 Jun 2023 from crisil

Rating update

16 Jun 2023 from icra

Rating update

4 Apr 2023 from icra

Rating update

18 Jan 2023 from crisil

Concalls

Nov 2025

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Stock Analysis

Description

  1. MTAR Technologies develops and manufactures components and equipment for the defense, aerospace, nuclear and clean energy sectors.

Key Growth Triggers

  1. Strong order book of ₹1296.6 Crore as of September 30, 2025.
  2. Management optimism for H2 FY26 with revised FY26 revenue guidance of 30-35%.
  3. Significant new orders received in Q2 FY26 (₹497.7 Crore) across Clean Energy and Aerospace & Defence sectors.

Order Book

  1. Order Book: September 2025 = ₹1296.6 Crore

Key Red Flags

  1. Q2 FY26 witnessed a significant year-on-year decline in revenue (-28.7%) and PAT (-77.4%), with PAT margins compressing to 3.1%.
  2. The company received a 'Medium' ESG rating, indicating scope for improvement in environmental, social, and governance practices.

Key Dates To Watch

  1. The company announced its Q2 FY26 earnings call for November 6, 2025.

Corporate Announcements

8th Apr 26
Impact Rating: 8
MTAR Technologies shareholders via postal ballot approved increasing borrowing limits to ₹800 crore (standalone) and ₹900 crore (consolidated), along with asset charge authority and higher remuneration for independent directors.
3rd Apr 26
Impact Rating: 3
MTAR Technologies Limited has confirmed compliance with SEBI regulations for securities dematerialization for the quarter ended March 31, 2026, furnishing details to stock exchanges as certified by its Registrar, KFIN Technologies.
27th Mar 26
Impact Rating: 6
MTAR Technologies Limited will close its trading window for designated persons and immediate relatives from April 1, 2026. The window will reopen 48 hours after the company declares its audited financial results for the fiscal year ending March 31, 2026.
20th Mar 26
Impact Rating: 6
MTAR Technologies announced that shareholders approved special resolutions to enhance borrowing limits, permit asset charges, and authorize commission for independent directors. The postal ballot results show strong support, with voting concluding on March 20, 2026.
20th Mar 26
Impact Rating: 7
MTAR Technologies Ltd. shareholders have approved key corporate resolutions through postal ballot, including increased borrowing powers, mortgage rights on assets, and director commission payment.