MTAR Technologies Limited has issued a clarification regarding news reports on CNBC-TV18 concerning potential order cancellations. The company stated that its Managing Director confirmed no communications regarding cancellations, reductions, or deferments have been received from customers. The order book remains healthy, capacity expansion is on track, and social media rumors are unsubstantiated by official communication from either the customer or MTAR Technologies.
Company Statement on News Reports
MTAR Technologies Limited has addressed recent news items, specifically one published on CNBC-TV18 on June 12, 2026, titled “MTAR Tech rebounds 10% on Bloom Energy project clarity; Here’s what the management said”. The company clarifies that comments made by its Managing Director, Mr. Parvat Srinivas Reddy, during an interaction on the same day were accurately reported in substance.
Confirmation of No Cancellations
During the interaction, the Managing Director unequivocally stated that MTAR Technologies Limited has not received any communication from its customer regarding any cancellation of orders. Consequently, there are no ongoing negotiations or discussions with its customer in relation to any such cancellation, reduction, deferment, or pause that would warrant public disclosure. The company’s order book is reported to be healthy, with no indication of reduced committed business from any customer.
Project Execution and Capacity Expansion
Furthermore, MTAR Technologies confirmed that its capacity expansion plans are progressing as scheduled. The company continues to collaborate closely with its customers to ensure adherence to agreed delivery timelines. The reports circulating on various social media platforms and other media sources alleging order cancellations are not based on any official communication from either the customer or MTAR Technologies Limited.
Market Movements and Disclosure Compliance
The company is not aware of any undisclosed information or event that could explain recent movements in the price or volume of its securities. MTAR Technologies also confirmed the absence of any regulatory or legal proceedings that could impact its share price. Movements in the price and volume of its securities are influenced by market factors and are considered purely market-driven. The company remains committed to full compliance with all applicable disclosure requirements.
Source: BSE
