Industrial Automation Magazine India

MTAR Technologies reports a PAT of 13.3 Cr with 50.5 percent YoY increase

Published on : Monday 14-02-2022

MTAR has seven strategically based manufacturing units including an export-oriented unit each based in Hyderabad, Telangana.

Hyderabad, February 11, 2022: MTAR Technologies Ltd, a leading precision engineering solutions company engaged in manufacturing and development of mission critical precision components with close tolerances and critical assemblies catering to nuclear, space, defense and clean energy sectors has announced its financial results for the third quarter ended on 31th December, 2021.

Operational Highlights

·         Revenue from Exports increased by Rs 31.0 crores in Q3 FY 22 in comparison with Q3 FY 21, an increase of 151.1%. YTD FY 22 Revenue from Exports increased by Rs 51.4 crore in comparison with YTD FY 21, an increase of 61.4%

·         Order book as on 7 Feb 2022 stands at Rs 599.6 crore as per our expectations

·         Received new orders for roller screws and electro-mechanical actuators; products that are currently under development

·         Declared interim dividend of Rs 3/- per share, and

·         Received an upgrade in credit ratings from A- (Positive) to A (Stable) from ICRA.

Commenting on the results, Mr Parvat Srinivas Reddy, Managing Director & Promoter, MTAR Technologies, said, “MTAR has clocked a revenue of Rs 78.1 crore with YoY growth of 41.4%. We have posted an EBITDA of Rs 22.8 crore with YoY growth of 30.3% and a net profit of Rs 13.3 crore with YoY growth of 50.5%. Domestic order inflows from Civil Nuclear Power, Space & defence sectors are expected to be fast-tracked over the coming quarters. Union budget 2022 aligns with the Government's commitment to promote Atmanirbhar Bharat initiative and indigenisation, which positions the Indian manufacturing sector to grow at a rapid pace. Amidst a conducive macro-economic environment backed by a robust order book, we are confident of witnessing an accelerated growth over the coming quarters.”

MTAR has seven strategically based manufacturing units including an export-oriented unit each based in Hyderabad, Telangana. MTAR caters to Civil Nuclear Power, Space & Defence and Clean Energy sectors. The Company has a long-standing relationship of over four decades with leading Indian organisations such as Nuclear Power Corporation of India, The Indian Space Research Organization (ISRO) and the Defense Research and Development Organization (DRDO).