MTAR Technologies Ltd

Q1 FY26Electrical Equipment

MTAR Technologies Q1 FY26 earnings call: Revenue & Margins

Q1 FY26 earnings call: what management guided on revenue, margins and order book.

Price₹7,030

Market cap₹20.4K Cr

P/E148.5

Updated23 Aug 2026

Read4 min read

The short version

Bloom Energy partnership is expected to drive significant growth with a forecasted 25%+ increase in orders next financial year, specifically for MTAR’s share. Expecting revenue growth of approximately 25% in FY '26 with further acceleration in FY '27.

From MTAR Technologies Ltd's Q1 FY26 earnings-call transcript · updated 23 Aug 2026.

Revenue & Sales Performance

Bloom Energy partnership is expected to drive significant growth with a forecasted 25%+ increase in orders next financial year, specifically for MTAR’s share.
Clean Energy segment guidance is conservatively set at 15%-20% growth, but prospects indicate potential for higher growth beyond that.
Nuclear sector is poised for exponential growth with expected INR1,000 crores order inflow in the next 3 to 6 months, driven by new reactors and refurbishment projects over the next 3 years.
Aerospace segment targeting 80% revenue growth in FY '26, with expansion in European and Israeli markets.
New product developments with Fluence and Weatherford are expected to start contributing incrementally from FY '27 onwards.

2 more points management made on revenue & sales performance

Profitability & Margins

Expecting revenue growth of approximately 25% in FY '26 with further acceleration in FY '27.
Clean Energy segment guidance: 15% to 20% growth, with optimism for better percentages in FY '27 due to increased wallet share with Bloom Energy.
Significant order inflows of nearly INR1,000 crores anticipated in the Civil Nuclear segment over the next 3-6 months, leading to exponential growth from FY '27 onwards.
Product division targeting around 20% growth in FY '26 with expansion into new products and client segments.
EBITDA margin guidance around 21%, plus/minus 100 basis points, supported by operating leverage and scale-up in production.
Margin improvement expected due to long operating cycle projects and increased production efficiencies.

2 more points management made on profitability & margins

See what MTAR Technologies Ltd said on profitability & margins — free account, 30 seconds.

Capital Expenditure Plans

For FY 2026, MTAR plans a capex of around INR 100+ crores, primarily for the oil & gas sector (INR 70 crores) and sustenance capex (INR 25-30 crores).
Capex funding will be approximately 70% debt and 30% internal accruals; current debt is about INR 120 crores and expected to be repaid within 2-3 years.
A dedicated new facility is being set up near the airport for Weatherford in oil & gas, expected to be commissioned by June next year, supporting a 10-year program.

2 more points management made on capital expenditure plans

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Rank buckets describe management commentary on revenue and margin. Not investment advice, and not a forecast of returns.

Fundraising & Capital Structure

The company plans a capex of around INR100 crores for the current financial year, primarily funded through debt (~70%) and internal accruals (~30%).
Existing debt stands at around INR120 crores, which the company aims to repay within 2 to 3 years.
The debt funding will come via term loans, indicating no immediate plans for equity fundraising.

2 more points management made on fundraising & capital structure

See what MTAR Technologies Ltd said on fundraising & capital structure — free account, 30 seconds.

Order Book & Pipeline

MTAR Technologies expects to receive approximately INR 1,000 crores worth of orders in the next 3 to 6 months, mainly from the civil nuclear power segment.
Orders include packages for Kaiga 5 and 6 reactors, refurbishment projects across Madhya Pradesh, Rajasthan, Chennai, and Tarapur.
Final negotiations for Kaiga 5 and 6 orders are expected to be completed by August or September 2025.
Refurbishment project tenders are mostly quoted, with L1 announcements expected by September-October 2025.
Additionally, new tenders for 700 MW reactors in Mahi Banswara (Rajasthan) will be quoted in the second half of 2025, outside the INR 1,000 crores mentioned.

2 more points management made on order book & pipeline

MTAR Technologies Ltd — Quarterly revenue & net profit

Revenue Net profit

Dec 2024

Mar 2025

Jun 2025

Sep 2025

Dec 2025

Mar 2026

Reported quarterly figures (₹ Cr). Latest: revenue ₹306 Cr, net profit ₹44 Cr. Revenue and profit are scaled separately — hover a quarter for exact figures.

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What MTAR Technologie's management said in earlier quarters

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Frequently Asked Questions

What were MTAR Technologies Ltd Q1 FY26 results?

What is MTAR Technologies Ltd share price analysis?

MTAR Technologies Ltd currently shows a neutral. The stock trades at a P/E of 148.5 with a market cap of ₹20,387 Cr. Investors should review the full earnings analysis for detailed insights.

Is MTAR Technologies Ltd planning capital expenditure?

For FY 2026, MTAR plans a capex of around INR 100+ crores, primarily for the oil & gas sector (INR 70 crores) and sustenance capex (INR 25-30 crores).

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This analysis is AI-generated based on publicly available earnings data and the company's earnings call transcript. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.