Transcript of earnings call
MTARTECH · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
MTAR Technologies reported record Q4 FY26 performance with revenue of INR306 crores and PAT of INR44.3 crores (up 222% YoY). Full year FY26 revenue stood at INR876 crores (30% YoY) with PAT of INR94 crores (76% YoY growth). Management raised FY27 revenue growth guidance significantly from 50% to 80% (+/- 5%), targeting around INR1,600 crores with EBITDA margins of ~24%. The closing order book for FY26 is INR2,580 crores with expected growth to INR5,000 crores by FY27 end. Clean energy is expected to contribute ~70% of FY27 revenue. New developments include entry into AI data center infrastructure assemblies with INR35 crore first article orders and INR400-500 crore revenue potential over 2 years. Capex of INR250-300 crores is planned over 2 years for multifold capacity expansion. Operating cash flow improved to INR196.9 crores with working capital days reduced to 172 from 278.
Strong beat with management raising guidance significantly signals robust demand visibility from clean energy and defense sectors. The company is in multiyear expansion mode with INR5,000 crore order book target by FY27 end. Margins expected to expand to 24% in FY27 as operating leverage kicks in from higher volumes.