Shares of MTAR Technologies Ltd soared to an all-time high of Rs 8,447.95 in Friday's trading, extending a remarkable upward trend. The precision engineering company's stock has surged by 57.29 percent over the past month and an impressive 246.85 percent year-to-date.
This significant rally was triggered by the company's announcement to stock exchanges that it had secured new purchase orders valued at $48.68 million (approximately Rs 467.30 crore) from an international entity. Investor sentiment was further bolstered by MTAR Technologies' upgraded financial outlook for fiscal year 2027 (FY27).
Stronger FY27 Outlook and Order Book Confidence
MTAR Technologies recently revised its revenue growth guidance for FY27, increasing it from 50 percent to over 80 percent (plus/minus 5 percent). This optimistic revision reflects the company's strong confidence in executing its existing order book. Additionally, the company projected EBITDA margins of around 24 percent for the year, supported by initial capacity expansions in clean energy and other sectors which have already been commissioned.
Analyst Insights and Financial Performance
While the market reacted positively, Motilal Oswal Financial Services Ltd (MOFSL) noted that MTAR's operating performance for the quarter was below their estimates, though overall earnings largely aligned with expectations. MOFSL reported that consolidated revenue grew 67 percent year-on-year (YoY) to Rs 310 crore, in line with estimates. However, EBITDA increased 81 percent YoY to Rs 61.8 crore, falling short of their Rs 77 crore estimate. EBITDA margins expanded 150 basis points (bps) YoY to 20.2 percent, below the estimated 24 percent.
Despite some variances in operating metrics, the brokerage highlighted that adjusted profit after tax (PAT) saw a substantial 3.2-fold increase YoY, reaching Rs 44.3 crore, which was broadly in line with their projections. MOFSL also pointed to improvements in the company's full-year performance and balance sheet for FY26.
"MTAR's revenue, EBITDA and PAT grew 30 per cent, 42 per cent and 83 per cent to Rs 880 crore, Rs 170 crore and Rs 96.9 crore for FY26, respectively. During FY26, the company's operating cash flow (CFO) rose 94 per cent YoY to Rs 200 crore, while net debt stood at Rs 120 crore as of March 2026 versus Rs 160 crore in March 2025," MOFSL stated.
MTAR Technologies operates across critical sectors including clean energy, civil nuclear power, aerospace and defence, and precision engineering manufacturing. The company continues to enhance its execution capabilities and expand its order pipeline, capitalizing on growing opportunities in strategic manufacturing and energy-transition businesses.