NSE: MTARTECH · BSE: 543270 · ISIN INE864I01014
Mtar Technologies Limited stock analysis
Mtar Technologies Limited ranks #520 in the TickerSutra evidence-ranked universe with a score of 63/100 and 95% data confidence. The latest captured fundamentals show ROCE of 15.2%, quarterly sales growth of 130.4% and quarterly profit growth of 349.7%.Monitor only
INVESTMENT EVIDENCE
What supports—and challenges—the thesis
Evidence in favour
- Strong CFO/EBITDA of 1.12×
- 15.2% three-year sales CAGR
- Institutional ownership is rising
- CWIP indicates an active capacity pipeline
Risks and constraints
- Extreme base-effect growth requires manual validation
- Valuation is above 40× earnings
Still unresolved: Related-party exposure · Broad media sentiment
FINANCIAL TRAJECTORY
Recent operating history
| Period | Revenue | Operating profit | Net profit | Operating margin |
|---|---|---|---|---|
| 2022 | ₹322cr | ₹94cr | ₹61cr | 29.0% |
| 2023 | ₹573cr | ₹154cr | ₹104cr | 27.0% |
| 2024 | ₹580cr | ₹112cr | ₹56cr | 19.0% |
| 2025 | ₹676cr | ₹121cr | ₹54cr | 18.0% |
| 2026 | ₹876cr | ₹171cr | ₹95cr | 20.0% |
| TTM | ₹1,080cr | ₹228cr | ₹135cr | 21.0% |
EXCHANGE EVENT TRIGGERS
Latest corporate disclosures
Mtar Technologies Limited has informed the Exchange regarding Proceedings of Annual General Meeting held on September 28, 2026. Further, the company has submitted the Exchange a copy of Srutinizers report along with voting results.
RoutineMTAR Technologies Ltd - 543270 - Shareholder Meeting / Postal Ballot-Scrutinizer''s ReportBSE · 29 Sept 2026Scrutinizer''s report
RoutineMTAR Technologies Ltd - 543270 - Shareholder Meeting / Postal Ballot-Outcome of AGMBSE · 29 Sept 2026Outcome of AGM
RoutineTrading WindowNSE · 23 Sept 2026Mtar Technologies Limited has informed the Exchange regarding the Trading Window closure pursuant to SEBI (Prohibition of Insider Trading) Regulations, 2015
RoutineMTAR Technologies Ltd - 543270 - Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - IntimationBSE · 22 Sept 2026Investors meet on 24.09.2026
MANAGEMENT COMMENTARY
Signals from filed documents
Is the company expecting any improvement in the EBITDA margin over the coming years? We have improved our EBITDA margin in FY 26 compared to FY 25 as our new products entered into volume production and we had an operating leverage. In FY 27, we are expecting the EBITDA margin of 24% primarily driven by operating leverage and operational efficiencies.
Expand our customer base across Clean Energy, Aerospace & Defence and other strategic sectors to unlock new avenues for growth. Expand Capacity & Capabilities • Execute strategic greenfield and brownfield expansions to support growing demand and anticipated volume ramp-ups across our key sectors. • Strengthen our engineering and manufacturing capabilities to address higher-value products, enhance our product portfoli
At the same time, we will continue to maintain capital discipline and prioritise investments that can support sustainable growth and attractive returns. How does the Company expect to reduce customer concentration over the coming years? The Company has been consistently working towards diversifying its revenue base by entering new verticals, expanding its product portfolio and developing business with multiple custom
The Company is focused on improving productivity and capacity utilisation, optimising manufacturing processes and strengthening supply-chain efficiencies to reduce production cycle times as new products transition into volume production. Greater scale is expected to provide operating leverage and opportunities to optimise procurement and supply-chain costs, supporting improvement in margins. The Company is also incre
For MNC Aerospace the Company is procuring the raw material and for some projects related to Defence, the customer is issuing the material. Given that raw material costs form a substantial portion of the overall production expenses, the Company derives significant benefit from its well-diversified and geographically spread supplier base. This not only enables the negotiation of favorable commercial terms and volume-b
Towards New Horizons MTAR Technologies Limited Annual report FY 2025 - 26 4 Managing Director’s Overview Our strategy since our inception has consistently been centred on developing technology-intensive, differentiated products in sectors with high entry barriers. Over the decades, we have built specialised capabilities, long- standing customer relationships and a differentiated product portfolio by identifying and i
As we scale our revenues, improving operating leverage and strengthening EBITDA margins will also remain key priorities. With the progress we are witnessing across our key verticals and the initiatives underway to strengthen capacity, capabilities and execution, we remain confident of achieving approximately 80% revenue growth in FY 27, with an EBITDA margin of 24% ±100 basis points. As we move forward, our ambition
The Company has also established mechanisms to mitigate exposure to raw material price volatility. In some of thwe verticals of Clean Energy, annual pricing arrangements with suppliers enable the Company to lock in raw material prices for specified periods, while contractual mechanisms with customers provide for the pass-through of applicable price increases. Similarly, contracts in the Civil Nuclear Power vertical i
Parvat Srinivas Reddy Managing Director MTAR Technologies Limited 7 Corporate Overview Statutory Reports Financial Statements 1970s - Indigenisation of nuclear island assemblies 1990s - Indigenisation of propulsion systems 2000s - Indigenisation of actuator assemblies and several other niche products in Defence 2020s - Development of components and sub assemblies for Global Aerospace programs 2010s - Development of v
Further, a significant portion of the Company’s manufacturing assets and capabilities are fungible across products and sectors, providing flexibility to redeploy capacities in response to changes in customer demand and market opportunities. Working Capital Management The Company’s working capital requirements may vary from current estimates due to several factors, including changes in project execution schedules, unf
Disclosure Questions P 1 P 2 P 3 P 4 P 5 P 6 P 7 P 8 P 9 Policy and management processes 1 (a) Whether your entity’s policy/policies cover each principle and its core elements of the NGRBCs. (Yes/No) Yes 1 (b) Has the policy been approved by the Board? (Yes/No) Yes 1 (c) Web Link of the Policies, if available https://mtar.in/policies-related-documents/ 2 Whether the entity has translated the policy into procedures.
Although the Company currently relies on its natural hedge, it remains prepared to devise and implement appropriate hedging strategies in accordance with the Company’s risk management framework, should such measures be deemed necessary in the future. 73 Corporate Overview Statutory Reports Financial Statements Competition and Pricing Pressure The Company operates in specialised and precision-engineered product segmen
MANAGEMENT PROMISE LEDGER
Quantified statements on the clock
“This is due to revenue mix, which is happened in this year, and we are continuously monitoring the improvement of the gross margins wherever possible. Then EBITDA margins are at INR85.1 crores in this quarter, which is actuall y 23.54% we achieved as against yearly guidance of 24% we have given, and la st quarter EBITDA margins was at 20.11%, and this is due to operating leverage we achieved th rough the higher reven”
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Evidence, freshness and limitations
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The score ranks captured evidence across financial quality, growth, moat and margins, regulatory catalysts, governance, institutional trend and valuation comfort. It is a research-prioritization tool—not a buy recommendation or price target.
Which sources support this page?
Financial history, ownership and pledge data, NSE and BSE filings, annual reports and available earnings-call transcripts are combined here. Use the source trail and original exchange document before relying on a decision-critical fact.
Why can an item be unresolved?
Unresolved means the current captured source window did not provide enough evidence for that check. It does not establish that a risk or relationship is absent.
Maintained by TickerSutra Research · Snapshot updated 29 Sept 2026 · Read the methodology · Read the disclaimer
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