MTAR Technologies has reported a strong finish to FY26, achieving record fourth-quarter sales of INR 306 crores and an annual revenue of INR 876 crores. Driven by robust growth across clean energy, nuclear, and aerospace segments, the company has raised its FY27 revenue growth guidance to 80% plus. Management remains optimistic about long-term growth, supported by a strong order book, significant capacity expansions, and new projects in AI data center infrastructure.
FY26 Financial Performance
MTAR Technologies delivered robust financial results for the full year FY26. Annual revenue stood at INR 876 crores, marking a 30% increase compared to the previous year. The company reported an annual EBITDA of INR 171.2 crores and a Profit After Tax (PAT) of INR 94 crores. The fourth quarter was particularly strong, with sales reaching INR 306 crores and a PAT of INR 44.3 crores, reflecting a significant improvement in operational scale.
Strategic Outlook and Guidance
Building on the current order momentum, MTAR has raised its FY27 revenue growth guidance to 80% plus (with a margin of +/- 5%) and expects EBITDA margins to stabilize around 24%. The company’s closing order book for FY26 stands at INR 2,580 crores, with expectations to grow this to approximately INR 5,000 crores by the end of FY27.
Key Sector Growth Drivers
MTAR’s growth is anchored by three primary verticals:
- Clean Energy: This segment continues to be a major contributor, representing approximately 70% of the future revenue mix. The company is actively expanding capacity and has secured an initial INR 35 crore order for AI data center infrastructure, with a potential value of INR 400-500 crores over the coming years.
- Nuclear: With over 35 years of experience, MTAR holds an order book exceeding INR 650 crores in the civil nuclear space. The company is qualified for new projects like Calandrias and End shields for the Mahi Banswara (ASHVINI) project and expects scaling to accelerate from Q2 FY27.
- Defense and Aerospace: This vertical holds orders worth over INR 360 crores. The company is currently executing volume production for various aerospace components and anticipates completing first articles for IAI by September 2026.
Capital Expenditure and Efficiency
To support its aggressive growth targets, the company has earmarked a capital expenditure of INR 250 crores to INR 300 crores spread over the next two years. MTAR is focused on operational excellence, maintaining a debt-to-equity ratio target of around 0.5, and improving cash flows through better payment terms with its diverse customer base.
Source: BSE
