MTAR Technologies Limited announced the outcome of its Board Meeting held on October 29, 2026. The Board approved the unaudited financial results for the quarter and half-year ended September 30, 2026. A significant development was the approval of a Scheme of Amalgamation of two wholly-owned subsidiaries, Gee Pee Aerospace and Defence Private Limited and Magnatar Aero Systems Private Limited, with MTAR Technologies, effective from April 1, 2025.
Board Meeting Outcomes and Financial Approvals
MTAR Technologies Limited convened a Board Meeting on Thursday, October 29, 2026, at 3:00 p.m. During this meeting, the Board of Directors considered and approved several key items. The unaudited financial results for the quarter and half-year ended September 30, 2026, were approved and have been attached. Additionally, the Limited Review Reports for the same periods were also approved.
Amalgamation Scheme Approved
A significant corporate action approved by the Board is the Scheme of Amalgamation involving two wholly-owned subsidiaries: Gee Pee Aerospace and Defence Private Limited and Magnatar Aero Systems Private Limited. This scheme was approved by the Hon’ble National Company Law Tribunal (NCLT), Hyderabad Bench-II, on October 28, 2026. The amalgamation is set to be effective from April 1, 2025. The company has accounted for this merger using the “pooling of interests” method, as per Ind AS 103 “Business Combinations.” Consequently, figures for all prior periods presented in the financial results have been restated, though the impact of this restatement is noted as not material.
Financial Highlights
The financial results for the half-year ended September 30, 2026, show a total income of INR 7,838.88 million and total expenses of INR 6,362.08 million, leading to a profit before tax of INR 1,476.80 million. The net profit for the period stood at INR 1,100.58 million. Earnings per share (basic and diluted) for the half-year were INR 35.78.
Statement of Assets and Liabilities
As of September 30, 2026, MTAR Technologies reported total assets of INR 23,281.90 million. Equity stood at INR 9,326.45 million, with liabilities amounting to INR 11,957.33 million. Notably, current liabilities included borrowings of INR 3,185.28 million and trade payables of INR 2,466.20 million.
Cash Flow Statement Insights
For the half-year ended September 30, 2026, the company generated a net cash flow of INR 3,499.72 million from operating activities. Investing activities used INR 4,073.23 million, primarily due to the purchase of property, plant, and equipment. Financing activities resulted in a net cash inflow of INR 566.42 million, boosted by long-term borrowings and short-term borrowings.
Source: BSE
