MTAR Technologies Q4 FY26 PAT up 223% as stock hits high

Stock jumps after results, touches a 52-week high

MTAR Technologies shares surged after the company reported sharp profit growth for the March 2026 quarter (Q4 FY26). The stock jumped as much as 9.04% to ₹6,815.50, and also hit a fresh 52-week high of ₹6,969 on the NSE during the session. Around 12:10 PM, it was trading at ₹6,906, up 10.5% from the previous close of ₹6,248.50. In comparison, the Nifty50 was up 0.50% at 23,495.70.

Q4 FY26: Profit more than triples on strong execution

Consolidated profit after tax (PAT) for Q4 FY26 came in at ₹44.3 crore, up 223.4% year-on-year from ₹13.7 crore in Q4 FY25. PAT also rose 27.7% sequentially from ₹34.7 crore in Q3 FY26. Profit before tax (PBT) stood at ₹59.5 crore, up 219.9% year-on-year from ₹18.6 crore and 29.1% quarter-on-quarter from ₹46.1 crore. The quarter’s performance was supported by higher revenue and operating leverage.

Q4 FY26 revenue rises 67% YoY; sequential growth stays positive

Revenue from operations increased 67.2% year-on-year to ₹306.1 crore in Q4 FY26, compared with ₹183.1 crore in the same quarter last year. On a sequential basis, revenue rose 10.1% from ₹278.0 crore in Q3 FY26. One report also noted higher product sales in the quarter at ₹303 crore versus ₹179 crore a year ago, indicating stronger execution.

Margins: Gross margin contracts, EBITDA improves

Gross profit rose 41.5% year-on-year to ₹135.4 crore in Q4 FY26 from ₹95.7 crore. However, gross margin contracted by 810 basis points to 44.2% from 52.3% a year earlier. EBITDA rose to ₹61.8 crore, up 80.9% from ₹34.2 crore in Q4 FY25. Another report pegged EBITDA margin at 20.2% in Q4 FY26 versus 18.6% in the year-ago period.

Full-year FY26: Revenue up 29.6%, PAT up 76.2%

For FY26, revenue from operations rose 29.6% year-on-year to ₹876.2 crore from ₹676.0 crore in FY25. Full-year EBITDA increased 41.7% to ₹171.2 crore from ₹120.9 crore. PBT rose 74.9% to ₹126.1 crore from ₹72.1 crore. PAT surged 76.2% to ₹94.0 crore from ₹53.4 crore.

Record order inflows support visibility

The company reported record order inflows of ₹2,453.3 crore during FY26. Within that, it secured orders worth ₹481.6 crore in Q4 FY26. The order book stood at ₹2,581.9 crore as of 31 March 2026. Management linked the year’s performance to both revenue growth and the highest-ever order inflow.

Order book mix: Clean energy dominates

MTAR Technologies disclosed the composition of its order book across core segments. Clean energy (fuel cell, hydel and other businesses) accounted for 51.2% of the total order book. Clean energy (civil nuclear power) contributed 26.3%. Aerospace and defence represented 14%.

What the company does and why the mix matters

MTAR Technologies manufactures mission-critical, precision-engineered systems and components. Its end-markets include clean energy, civil nuclear power, fuel cells, hydel and other businesses, aerospace, and defence. The order book split provides a snapshot of where near-term execution is likely to be concentrated, with clean energy-related segments forming the largest share.

Management commentary

Parvat Srinivas Reddy, managing director and promoter, said the company witnessed a “phenomenal year” marked by robust revenue growth and the highest-ever inflow of orders. He attributed the momentum to the company’s focus on delivering technology-intensive and differentiated precision-engineered products.

Key figures at a glance

Market context and what investors tracked

The immediate market reaction reflected the scale of year-on-year profit growth and the strong order pipeline. Investors also tracked the divergence between higher gross profit and a weaker gross margin, alongside the improvement in EBITDA. The stock’s move to a 52-week high came despite mixed sessions cited across reports, showing that earnings delivery and backlog commentary were central to the day’s price action.

Conclusion

MTAR Technologies reported a sharp rise in Q4 FY26 profitability, supported by strong revenue growth and record FY26 order inflows, while gross margin declined year-on-year. With an order book of ₹2,581.9 crore as of 31 March 2026, the company enters FY27 with a sizeable backlog across clean energy, civil nuclear, aerospace and defence segments.