MTAR Technologies Q1 FY27 Share Price & Earnings Call Analysis
- Market cap
- ₹22,021 Cr
- P/E
- 160.38
- ROE
- 12.55%
- PEG
- -109.12
- Price to sales
- 20.39
- Debt to equity
- 0.46
- 52W high / low
- ₹8,374 / ₹2,280
- Sales growth (5Y)
- 28.88%
- EBITDA margin
- 21.06%
- Net profit margin
- 11.15%
- Promoter holding
- 29.23%
- Sales (last year)
- ₹1,080 Cr
Guidance scorecard · Q1 FY27 call
What MTAR Technologies Ltd's management guided
RevenueQ1 FY27 call
40%+- MTAR Technologies expects robust revenue growth, aiming for approximately 80% growth in the current fiscal year, with potential to exceed this guidance.
- Aerospace and defense segment revenue is expected to double in the current fiscal and ramp up significantly over the next 3-4 years, potentially reaching INR600-700 crores.
- Products business is projected to grow rapidly, potentially crossing INR1,000 crores in 3-4 years.
- Clean Energy segment to be a major revenue driver by fiscal year-end, supported by short-cycle orders and capacity expansions.
- Expansion in data center infrastructure solutions is underway with potential for substantial scale-up following product qualification.
2 more points from MTAR Technologies Ltd's call on revenue
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MarginsQ1 FY27 call
Up 2%+See what MTAR Technologies Ltd said on margins — free account, 30 seconds.
CapexQ1 FY27 call
Planned- MTAR plans a total capex of around INR 500 crores over this year and the next to support expansion across various verticals.
- Capex split is approximately 70% for clean energy segments and 30% for non-clean energy segments (~INR 150 crores).
- Around INR 35 crores of capex was incurred in Q1 FY27.
- Capex will be funded through a combination of internal accruals and debt.
- Investments include setting up dedicated facilities for data center infrastructure solutions and aerospace.
- The capex aims to increase asset turnover ratio to at least 4-5 times what is spent.
2 more points from MTAR Technologies Ltd's call on capex
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FundraisingQ1 FY27 call
PlannedSee what MTAR Technologies Ltd said on fundraising — free account, 30 seconds.
Order bookQ1 FY27 call
Rising- Current order book stands at approximately INR 5,143 crores as of Q1 FY27.
- An additional INR 800 crores of orders were received recently, totaling around INR 5,900 crores.
- Expectation of further order inflows across all key sectors in coming quarters.
- Clean nuclear division alone has close to INR 800 crores in orders, with some refurbishment orders worth around INR 200+ crores.
- Orders primarily consist of short-cycle projects to be executed mostly within 1-2 years, with some up to 3-3.5 years.
2 more points from MTAR Technologies Ltd's call on the order book
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Ranges are what management guided for revenue growth and margins on the latest earnings call. Not investment advice, and not a forecast of returns.
Potential multibaggers · Q2 FY27
This quarter's potential multibaggers
on management's own guidance
- Strong growth2
- Strong growth1
- Strong growth3
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Ranks describe management commentary on revenue and margin from the latest earnings call. Not investment advice.
MTAR Technologies Ltd announcements
All announcements →- Acquisition / mergerNotableMTAR Technologies announces merger approval of two wholly-owned subsidiaries
Financials of MTAR Technologies Ltd
Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.
Shareholder Pattern
MTAR Technologies Ltd
Shareholding breakup across reporting periods.
| Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Promoters + | 37.26% | 37.26% | 36.42% | 36.42% | 31.42% | 31.77% | 31.65% | 31.41% | 30.59% | 30.44% | 29.35% | 29.23% |
| FIIs + | 11.02% | 10.57% | 7.74% | 7.81% | 7.01% | 6.74% | 7.57% | 9.21% | 12.24% | 17.31% | 24.80% | 20.87% |
| DIIs + | 18.97% | 18.07% | 15.96% | 17.28% | 23.17% | 24.40% | 23.51% | 24.81% | 29.96% | 27.66% | 22.35% | 27.09% |
| Public + | 32.76% | 34.10% | 39.88% | 38.49% | 38.39% | 37.10% | 37.26% | 34.58% | 27.19% | 24.59% | 23.51% | 22.80% |
| No. of Shareholders | 3,12,462 | 3,13,019 | 3,35,068 | 3,17,125 | 3,04,480 | 3,01,097 | 2,97,581 | 2,75,940 | 2,18,461 | 2,09,273 | 2,58,386 | 2,60,159 |
Financials of MTAR Technologies Ltd
Quarterly Results
Quarter-by-quarter operating performance
| Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales + | 152 | 167 | 118 | 143 | 128 | 190 | 174 | 183 | 157 | 136 | 278 | 306 | 361 |
| Expenses + | 119 | 130 | 95 | 125 | 112 | 154 | 141 | 149 | 128 | 119 | 214 | 244 | 276 |
| Operating Profit | 34 | 36 | 24 | 18 | 16 | 37 | 33 | 34 | 28 | 17 | 64 | 62 | 85 |
| OPM % | 22% | 22% | 20% | 13% | 13% | 19% | 19% | 19% | 18% | 13% | 23% | 20% | 24% |
| Other Income + | 4 | 1 | 1 | 1 | 1 | 2 | 3 | 0 | 1 | 4 | -1 | 17 | 8 |
| Interest | 6 | 5 | 6 | 6 | 5 | 5 | 6 | 6 | 6 | 6 | 8 | 10 | 16 |
| Depreciation | 5 | 6 | 6 | 6 | 6 | 8 | 9 | 10 | 8 | 9 | 9 | 9 | 9 |
| Profit before tax | 27 | 26 | 13 | 7 | 6 | 25 | 22 | 19 | 15 | 6 | 46 | 60 | 68 |
| Tax % | 26% | 20% | 19% | 32% | 28% | 26% | 25% | 25% | 26% | 24% | 24% | 26% | 25% |
| Net Profit + | 20 | 21 | 11 | 5 | 5 | 19 | 16 | 14 | 11 | 5 | 35 | 44 | 50 |
| EPS in Rs | 6.44 | 6.77 | 3.43 | 1.65 | 1.48 | 6.11 | 5.31 | 4.62 | 3.65 | 1.49 | 11.43 | 14.42 | 16.42 |
Financials of MTAR Technologies Ltd
Profit & Loss
Annual income statement trend
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales + | 81 | 81 | 101 | 157 | 184 | 214 | 246 | 322 | 573 | 580 | 676 | 876 | 1,080 |
| Expenses + | 79 | 71 | 113 | 125 | 130 | 156 | 163 | 228 | 419 | 468 | 555 | 705 | 853 |
| Operating Profit | 2 | 11 | -12 | 32 | 54 | 58 | 83 | 94 | 154 | 112 | 121 | 171 | 228 |
| OPM % | 2.3% | 13% | -12% | 20% | 29% | 27% | 34% | 29% | 27% | 19% | 18% | 20% | 21% |
| Other Income + | 3 | 1 | 1 | 1 | 4 | 4 | 1 | 9 | 20 | 6 | 6 | 20 | 27 |
| Interest | 8 | 7 | 5 | 4 | 4 | 5 | 7 | 7 | 14 | 22 | 22 | 29 | 39 |
| Depreciation | 5 | 5 | 5 | 11 | 11 | 12 | 13 | 14 | 18 | 23 | 32 | 34 | 36 |
| Profit before tax | -7 | -1 | -22 | 17 | 42 | 46 | 65 | 82 | 141 | 73 | 72 | 127 | 180 |
| Tax % | -36% | -133% | -30% | 68% | 6% | 31% | 29% | 26% | 26% | 23% | 26% | 25% | |
| Net Profit + | -5 | 0 | -15 | 5 | 39 | 31 | 46 | 61 | 104 | 56 | 54 | 95 | 135 |
| EPS in Rs | -1.64 | 0.06 | -5.34 | 1.92 | 13.89 | 11.70 | 14.98 | 19.79 | 33.84 | 18.29 | 17.51 | 30.99 | 43.76 |
| Dividend Payout % | 0% | 0% | 0% | 0% | 22% | 43% | 40% | 15% | 0% | 0% | 0% | 0% |
Financials of MTAR Technologies Ltd
Balance Sheet
Capital structure and asset base
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 28 | 28 | 28 | 28 | 28 | 27 | 31 | 31 | 31 | 31 | 31 | 31 |
| Reserves | 180 | 181 | 166 | 177 | 207 | 198 | 446 | 489 | 590 | 646 | 700 | 795 |
| Borrowings + | 49 | 26 | 29 | 20 | 29 | 29 | 17 | 96 | 143 | 190 | 177 | 377 |
| Other Liabilities + | 48 | 38 | 71 | 56 | 41 | 92 | 93 | 112 | 299 | 139 | 220 | 542 |
| Total Liabilities | 306 | 273 | 294 | 281 | 305 | 346 | 586 | 728 | 1,063 | 1,006 | 1,128 | 1,744 |
| Fixed Assets + | 145 | 146 | 148 | 152 | 162 | 155 | 167 | 196 | 282 | 332 | 425 | 497 |
| CWIP | 8 | 8 | 8 | 2 | 6 | 12 | 11 | 44 | 63 | 68 | 53 | 34 |
| Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 62 | 34 | 7 | 7 | 222 |
| Other Assets + | 152 | 119 | 138 | 127 | 137 | 179 | 409 | 425 | 683 | 600 | 643 | 990 |
| Total Assets | 306 | 273 | 294 | 281 | 305 | 346 | 586 | 728 | 1,063 | 1,006 | 1,128 | 1,744 |
Financials of MTAR Technologies Ltd
Cash Flows
Operating, investing and financing cash movement
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash from Operating Activity + | 14 | 42 | 56 | 9 | -30 | 9 | 55 | 102 | 192 | |||
| Cash from Investing Activity + | -1 | -33 | -12 | -22 | -145 | -88 | -54 | -104 | -347 | |||
| Cash from Financing Activity + | -14 | -7 | -41 | 180 | 54 | 32 | 25 | -35 | 155 | |||
| Net Cash Flow | -1 | 2 | 3 | 167 | -121 | -47 | 27 | -37 | -1 | |||
| Free Cash Flow | 12 | 18 | 44 | -14 | -121 | -97 | -35 | 2 | 65 | |||
| CFO/EBITDA Share of operating profit converting into cash: CFO (before tax) / Operating Profit | 53% | 96% | 109% | 24% | -12% | 27% | 69% | 96% | 127% |
Financials of MTAR Technologies Ltd
Ratios
Working capital efficiency and return ratios
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 71 | 88 | 140 | 114 | 100 | 105 | 114 | 154 | 132 | 92 | 113 | 140 |
| Inventory Days | 269 | 240 | 382 | 467 | 535 | 524 | 421 | 369 | 397 | |||
| Days Payable | 87 | 35 | 155 | 158 | 179 | 296 | 74 | 112 | 119 | |||
| Cash Conversion Cycle | 71 | 88 | 140 | 296 | 305 | 332 | 423 | 510 | 360 | 438 | 370 | 419 |
| Working Capital Days | 418 | 331 | 177 | 132 | 114 | 59 | 175 | 191 | 189 | 194 | 170 | 71 |
| ROCE % | 0% | 2% | -7% | 10% | 18% | 19% | 19% | 16% | 22% | 11% | 11% | 15% |
Guidance history
How MTAR Technologies Ltd's guidance has moved, call by call
| Call | Revenue | Margins | Capex | Fundraising | Order book |
|---|---|---|---|---|---|
| Q1 FY27 call → | 40%+ | Up 2%+ | Planned | Planned | Rising |
| Q4 FY26 call → | 40%+ | Up 2%+ | Planned | Planned | Rising |
| Q3 FY26 call → | 40%+ | Up 2%+ | Planned | — | Rising |
| Q2 FY26 call → | 20–40% | Up 2%+ | Planned | Planned | Rising |
What management guided on each call, newest first. Not investment advice, and not a forecast of returns.
Momentum score · price trend
85 out of 100 — Strengthening
Over the past year its share price has done better than most of the stocks we track.
| Period | Share price change | Better than … of 1,910 stocks |
|---|---|---|
| Last 12 months | +204.2% | 98% |
| Last 6 months | +10.9% | 67% |
| Last 3 months | +31.3% | 92% |
How we calculate it
“Better than 30%” means that over that period the share price did better than 30 out of every 100 stocks we track (1,910 Indian companies worth ₹500 Cr or more, with at least a year of prices).
The score weighs the longer periods more: 40% × 12-month + 40% × 6-month + 20% × 3-month. For MTAR Technologies Ltd: 0.4 × 98 + 0.4 × 67 + 0.2 × 92 = 85.
Strengthening is 70 and above, Steady 40 to 70, Cooling below 40. Scores are recalculated every night after the market closes.
Full methodology →This describes only how the share price has moved up to 29 Oct 2026, compared with other stocks. It says nothing about the business, and it is not a prediction, a price target or a recommendation to buy or sell.
Continue your research
What MTAR Technologies Ltd's management said in earlier quarters
- Q3 FY26 earnings call analysis →
- Q1 FY27 earnings call analysis →
- Q2 FY26 earnings call analysis →
- Q1 FY26 earnings call analysis →
- Q4 FY25 earnings call →
- Q3 FY25 earnings call →
- Q2 FY25 earnings call →
- Q1 FY25 earnings call →
- Q4 FY24 earnings call →
- Q3 FY24 earnings call →
- Q2 FY24 earnings call →
- Q1 FY24 earnings call →