MTAR Technologies Ltd

MTARTECH

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Market Cap

₹ 7,213 Cr

P/E

161.16

Turned 1 L into 2.19 L in last 5 Years

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Performance

STEADY PERFORMER

Valuation

OVERVALUED

Growth

SLUGGISH

Profitability

LOW MARGIN

Technicals

Bearish

Risk

MODERATE RISK

Investment Checklist

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Price

PE Ratio

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Overview

Detailed Summary

MTAR Technologies Limited specializes in high precision and heavy equipment manufacturing for sectors like nuclear, aerospace, and defense.

The company has a strong position in clean energy, particularly with its Solid Oxide Fuel Cell (SOFC) units, anticipating significant revenue from this segment in H2 FY26.

MTAR Technologies is boosting its capacity in clean energy, with plans to double its SOFC unit production, highlighting its growth in renewable energy solutions.

Despite a dip in Q2 FY26 profits, the company expects robust financial recovery and growth in H2 FY26 fueled by a strong order pipeline.

The order book surged to an impressive INR 2,800 crores, demonstrating strong demand and potential for future expansion.

Sector

Aerospace & Defence

Industry

Engineering - Heavy - General - Large

Market Cap

7,213 Cr

Volatility

Low Risk

P/E Ratio

161.2

Industry P/E

34.9

PEG Ratio

1.9

P/B Ratio

9.7

52W High

2,715.00

52W Low

1,152.00

Sales CAGR

16.40%

28.04%

25.89%

10Y

26.50%

Profit CAGR

-5.74%

-4.01%

11.45%

10Y

88.24%

ROE

TTM

6.01%

10.56%

10.62%

10Y

9.34%

ROCE

TTM

9.08%

14.61%

14.78%

10Y

13.59%

Technicals

Oscillators

BearishNeutralBullish

Bullish

Bearish

Neutral

Bullish

Overall

BearishNeutralBullish

Bearish

Neutral

Bullish

Moving Averages

BearishNeutralBullish

Bearish

Neutral

Bullish

Overall

BearishNeutralBullish

Bearish

Neutral

Bullish

Forecasts

No. of Analysts

10

1Y Price Target

3279.30 ▲ 38.07%

Q3 EPS Estimate

Q3 Revenue Estimate

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Price, EPS and Revenue Projections

Strong SellSellHoldBuyStrong Buy

Buy

Strong Buy

Buy

Hold

Sell

Strong Sell

updated on

Dec 03, 2025

Peers

Symbol	Price	Market Cap	P/E	P/B	Div Yield (%)	ROE (%)	ROCE (%)	ROA (%)
JWL	268.40	11,090 Cr	38.65	3.97	0.50	10.03	12.27	6.66
TITAGARH	789.50	10,486 Cr	53.26	4.13	0.13	7.74	11.31	5.13
MTARTECH	2375.10	7,213 Cr	161.16	9.69	0.00	6.01	9.08	3.81
AJAXENGG	609.85	6,887 Cr	27.44	5.50	0.00	20.04	26.78	17.20
PRAJIND	335.00	5,583 Cr	52.92	4.29	1.98	8.11	11.62	3.26
TEXRAIL	126.85	5,124 Cr	24.27	1.73	0.58	7.37	11.59	4.11
SKIPPER	442.65	4,932 Cr	28.35	3.85	0.02	12.99	19.01	4.14

Financial Statements

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Consolidated Quarterly Results (in ₹ Crores)

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Total Figures

QoQ Changes

Total Figures

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025
Sales	153	167	118	143	128	190	174	183	157	136
Expenses	118	131	95	125	112	153	141	149	128	119
Operating Profit	35	36	24	18	17	37	33	34	28	17
OPM %	22.63	21.64	20.16	12.75	12.95	19.36	19.06	18.65	18.12	12.54
Other Income	4.10	0.85	0.48	0.38	0.53	1.45	3.15	0.03	0.61	3.68
Interest	5.73	5.47	5.60	5.51	4.79	5.18	6.28	5.93	5.82	6.21
Depreciation	5.62	5.79	5.85	5.91	6.14	7.78	8.69	9.62	8.37	8.79
Profit Before Tax	27	26	13	7.19	6.21	25	21	19	15	5.68
Tax %	25.44	20.36	18.93	32.27	28.66	25.84	25.52	26.32	27.01	25.18
Net Profit	20	20	10	4.87	4.43	19	16	14	11	4.25
EPS in Rs	6.61	6.65	3.40	1.58	1.44	6.10	5.19	4.46	3.52	1.38

Consolidated Profit Loss (in ₹ Crores)

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Total Figures

YoY Changes

Total Figures

	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
Sales	214	246	322	574	581	676	704
Expenses	156	163	228	420	468	555	572
Operating Profit	58	83	94	154	113	121	133
OPM %	27.12	33.71	29.32	26.84	19.41	17.87	18.83
Other Income	4.37	1.31	8.75	19	5.81	5.15	5.24
Interest	4.75	7.00	6.65	15	22	22	23
Depreciation	12	13	14	19	23	32	34
Profit Before Tax	46	65	82	140	73	72	80
Tax %	31.22	28.94	25.96	26.25	23.17	26.10	26.08
Net Profit	31	46	61	103	56	53	59
EPS in Rs	—	16.70	19.79	33.62	18.24	17.19	14.55
Dividend Payout %	45.00	35.29	15.16	0.00	0.00	0.00	—

Consolidated Balance Sheet (in ₹ Crores)

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Total Figures

YoY Changes

Total Figures

	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Equity Capital	27	31	31	31	31	31
Reserves	198	446	489	589	646	698
Borrowings	29	17	96	143	191	177
Other Liabilities	92	93	112	300	140	224
Total Liabilities	346	586	728	1,063	1,008	1,130
Fixed Assets	155	167	196	291	341	439
CWIP	12	11	44	64	73	53
Investments	0.01	0.01	62	27	0.01	0.01
Other Assets	179	409	425	680	594	638
Total Assets	346	586	728	1,063	1,008	1,130

Consolidated Cash Flows (in ₹ Crores)

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Total Figures

YoY Changes

Total Figures

	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Cash from Operating Activity	56	8.61	-30	7.41	57	101
Cash from Investing Activity	-12	-22	-145	-87	-56	-103
Cash from Financing Activity	-41	180	54	32	25	-36
Net Cash Flow	2.79	167	-121	-47	27	-37

Shareholdings

Shareholding History

Quarterly

Yearly

Quarterly

	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025
Promoters	47.18%	46.63%	39.14%	39.14%	37.26%	37.26%	36.42%	36.42%	31.42%	31.77%	31.65%	31.41%
FIIs	3.79%	2.51%	4.52%	8.81%	11.02%	10.57%	7.75%	7.81%	7.01%	6.74%	7.57%	9.20%
DIIs	28.32%	27.58%	28.03%	24.07%	18.98%	18.08%	15.96%	17.29%	23.18%	24.40%	23.52%	24.81%
Public	20.70%	23.27%	28.32%	27.98%	32.74%	34.09%	39.87%	38.48%	38.39%	37.10%	37.26%	34.58%
Total Shareholders	1,84,134	2,05,430	2,11,227	2,75,168	3,12,462	3,13,019	3,35,068	3,17,125	3,04,480	3,01,097	2,97,581	2,75,940

Market Transactions

Date	Party	Category	Type	Avg Price (₹)	Total Value (₹)	Quantity	Percent Traded
Dec 01, 2025	Kavitha reddy gangapatnam	Insider - Promoter	Disposal	2,373.73	59.34 Cr	2,50,000	0.81
Nov 27, 2025	Motilal oswal mutual fund	Bulk	Buy	2,444.00	50.00 Cr	2,04,580	0.66
Nov 27, 2025	Kavitha reddy gangapatnam	Bulk	Sell	2,444.00	60.00 Cr	2,45,500	0.79
Nov 27, 2025	Bajaj finserv mutual fund	Block	Buy	2,444.00	10.00 Cr	40,920	0.13
Nov 27, 2025	Motilal oswal mutual fund	Block	Buy	2,444.00	50.00 Cr	2,04,580	0.66
Nov 27, 2025	Kavitha reddy gangapatnam	Block	Sell	2,444.00	60.00 Cr	2,45,500	0.79
Oct 17, 2025	Bnp paribas financial markets	Bulk	Buy	2,288.52	80.81 Cr	3,53,102	1.14
Sep 19, 2025	P kalpana reddy	Insider - Promoter	Disposal	1,781.00	4.45 Cr	24,999	0.08
Sep 12, 2025	Graviton research capital llp	Bulk	Buy	1,659.65	25.77 Cr	1,55,258	0.50
Sep 12, 2025	Graviton research capital llp	Bulk	Sell	1,661.50	25.80 Cr	1,55,308	0.50

Projection

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Announcements

Last 7 days

Newest

Sentiment

Regulatory Filing

15 hours ago

Order Amendment Notification

MTAR Technologies Limited announces an amendment in an existing purchase order, increasing its value by USD 10.29 Mn.

Documents

Presentations

Concalls

Reports

Presentations

Investor Presentation

Q2 FY26

Investor Presentation

Q1 FY26

Investor Presentation

Q4 FY25

Investor Presentation

Q3 FY25

Investor Presentation

Q2 FY25

Investor Presentation

Q4 FY24

Investor Presentation

Q3 FY24

Investor Presentation

Q2 FY24

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