Investor presentation
MTARTECH · price
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MTAR Technologies reported record FY26 results with revenue of Rs. 876.2 Crs, up 29.6% YoY, driven by highest-ever order inflows of Rs. 2,453.3 Crs. The order book stands at a record Rs. 2,581.9 Crs as of March 31, 2026, split across Clean Energy – Civil Nuclear Power (26.3%), Clean Energy – Fuel Cell/Hydel (51.2%), and Aerospace & Defence (14.0%). Q4 FY26 revenue grew 67.2% YoY to Rs. 306.1 Crs, while PAT surged 222.3% to Rs. 44.3 Crs. EBITDA margin improved to 19.5% (from 17.9% in FY25), though gross margin contracted to 47.7% from 49.4%. Working capital days increased to 172 from 161. New customer wins include SLB (Rs. 35 Cr order for data center infrastructure). A greenfield facility for Oil & Gas is expected by September 2026.
Strong order book visibility and margin improvement signal a positive outlook, though rising debt (Debt-to-Equity at 0.45x) and gross margin erosion in Q4 warrant monitoring. RoCE recovered to 17.2% from 9.7% in FY25.