MTAR Technologies Ltd

- 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. - For the next financial year, sustenance capex is expected to be around INR25-30 crores, with further capex decisions dependent on new customer acquisition. - No explicit mention of any current or planned equity fundraising was made during the call.

- 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. - Another small dedicated facility near existing units is being created for the nuclear division to address bottlenecks, particularly for time-bound projects like Kaiga 5 & 6 and refurbishment reactors. - Capacity expansion supports expected nuclear orders worth about INR 1,000 crores over the next 3-6 months, with execution planned over three years.

- 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. - Overall, revenue growth is expected to be stronger in the second half of FY '26, helped by increased wallet share with Bloom and new contracts in nuclear and oil & gas sectors. - MTAR targets sustained revenue growth of 25% for FY '26 and anticipates even better growth rates for FY '27.

- 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. - Long-term contracts, including a 5-year deal with Weatherford, to support steady revenue and profit growth. - No pressure on realizations; optimistic about improved profitability and operational performance in coming years.

- 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. - Orders are to be executed on a fast-track basis within 3 years. - The company is also preparing support infrastructure to handle increased order execution needs.