MTAR Technologies Results: Latest Quarterly Results & Analysis

Defence company MTAR Technologies announced Q2FY25 results

Q2FY25 Financial Highlights:

• QoQ:
  • Revenue from Operations stood at Rs 190.2 crore. in Q2FY25 as against Rs 128.3 crore. in Q1FY25, 48.3% increase QoQ.
  • EBITDA reported at Rs 36.8 crore. in Q2FY25 as compared to Rs 16.6 crore. in Q1FY25, 121.7 % increase QoQ.
  • Profit Before Tax stands at Rs 25.3 crore. in Q2FY25 as against Rs 6.2 crore. in Q1FY25, 307.9% increase QoQ.
  • Profit After Tax was at Rs 18.8 crore in Q2FY25 as against Rs 4.4 crore. in Q1FY25, 324.0% Increase QoQ.
• YoY:
  • Revenue from Operations stood at Rs 190.2 crore. in Q2FY25 as against Rs 166.8 crore. in Q2FY24, 14% increase YoY.
  • EBITDA reported at Rs 36.8 crore. in Q2FY25 as compared to Rs 36.1 crore. in Q2FY24, 2.0% increase YoY.
  • Profit Before Tax stands at Rs 25.3 crore. in Q2FY25 as against Rs 25.7 crore. in Q2FY24, 1.5% decrease YoY.
  • Profit After Tax was at Rs 18.8 crore in Q2FY25 as against Rs 20.5 crore. in Q2FY24, 8.2% decrease YoY.

Parvat Srinivas Reddy, Managing Director & Promoter, MTAR Technologies, said: “ We have witnessed a significant growth in revenue and EBITDA in Q2FY25 compared to Q1FY25 inline with the guidance given in last quarter. The execution in second half is going to be stronger than the first half. Sequential improvement in margins is likely to continue over the coming quarters. Order inflow is expected to ramp up in the second half across all the sectors.”

Result PDF

Defence company MTAR Technologies announced Q1FY25 results: 

• Revenue from Operations stood at Rs 128.3 crore in Q1FY25 as against Rs152.6 crore in Q1FY24, 15.9% decrease YoY
• EBITDA reported at Rs 16.6 crore in Q1FY25 as compared to Rs 34.5 crore in Q1FY24, 51.9% decrease YoY
• Profit Before Tax stands at Rs 6.2 crore in Q1FY25 as against Rs 27.3 crore in Q1FY24, 77.2% decrease YoY
• Profit After Tax was at Rs 4.4 crore in Q1FY25 as against Rs 20.3 crore in Q1FY24, 78.2% decrease YoY 

Commenting on the results, Parvat Srinivas Reddy, Managing Director & Promoter, MTAR Technologies, said, “ We are looking forward to clock highest ever revenue in Q2 of this fiscal year. Also, the execution in second half is going to be stronger than the first half. There will progressive improvement in margins starting from Q2. The company has recently received 140 Crs of orders in Clean Energy segment. We are expecting more orders in Clean Energy that shall be executed in this fiscal year itself. Further, there will be significant inflow of orders from Oil & Gas and other sectors as well in second half.”

Result PDF

Defence company MTAR Technologies announced Q4FY24 & FY24 results:

Q4FY24 Financial Highlights:

• Revenue from Operations stood at Rs 143.0 crore in Q4FY24 as against Rs 118.4 crore in Q3FY24, 20.8% increase QoQ
• EBITDA reported at Rs 18.2 crore in Q4FY24 as compared to Rs 23.9 crore in Q3FY24, 23.6% decrease QoQ
• Profit Before Tax stands at Rs 7.2 crore in Q4FY24 as against Rs 12.9 crore In Q3FY24, 44.2% decrease QoQ
• Profit After Tax was at Rs 4.9 crore in Q4FY24 as against Rs 10.4 crore in Q3FY24, 53.4% decrease QoQ

FY24 Financial Highlights:

• Revenue from Operations stood at Rs.580.8 crore in FY24 as against Rs.573.8 crore in FY23, 1.2% increase YoY
• EBITDA reported at Rs 112.7 crore in FY24 as compared to Rs 154.0 crore in FY23, 26.8% decrease YoY
• Profit Before Tax stands at Rs 73.0 crore in FY24 as against Rs 140.2 crore In FY23, 47.9% decrease YoY
• Profit After Tax was at Rs 56.1 crore in FY24 as against Rs 103.4 crore in FY23, 45.7% decrease YoY

Commenting on the results, Parvat Srinivas Reddy, Managing Director & Promoter, MTAR Technologies, said, “We have registered a lower-than-estimated EBITDA in FY24 as the operating leverage was lower due to deferment of orders in Clean Energy segment and delay in execution of projects in Space vertical. The company has improved its net cash flow from operating activities in FY24 to Rs 57.4 Crs compared to Rs 7.4 Crs in FY23. We are targeting to achieve 30% - 35% YoY increase in revenues with an EBITDA of 22% /-100 bps in FY 25. Significant orders are expected shortly as we have concluded discussions with some of the major MNCs in Aerospace.”

Result PDF

Defence company MTAR Technologies announced Q1FY24 results:

• Revenue from Operations stood at Rs 152.6 crore in Q1FY24 as against Rs 91.0 crore in Q1FY23, a 67.6% increase YoY
• EBITDA reported at Rs 34.5 crore in Q1FY24 as compared to Rs 25.0 crore in Q1FY23, a 38.3% increase YoY
• Profit Before Tax stands at Rs 27.3 crore in Q1FY24 as against Rs 22.2 crore In Q1FY23, a 22.8% increase YoY
• Profit After Tax was at Rs 20.3 crore in Q1FY24 as against Rs 16.2 crore in Q1FY23, a 25.4% increase YoY

Commenting on the results, Parvat Srinivas Reddy, Managing Director & Promoter, MTAR Technologies, said, “The company shall be ramping up the revenues over the coming quarters. We are expecting an accelerated inflow of orders in H2FY24. Our closing order book by the end of FY24 is estimated to be around Rs 1,500 crore.”

Result PDF

Defence company MTAR Technologies announced Q4FY23 & FY23 results:

• Revenue for Q4FY23 stood at Rs 196.4 crore as compared to Rs 98.6 crore in Q4FY22, a growth of 99% YoY and FY23 growth of 78% YoY
• EBIDTA for Q4FY23 stood at Rs 49.1 crore, as compared to Rs 27.7 crore in Q4FY22 with a growth of 77% and FY23 growth of 63% YoY basis
• EBIDTA margins for Q4FY23 stood at 25.0%
• PAT for the quarter stood at Rs 31.1 crore as compared to Rs 19.8 crore in Q4FY23 up by 57% YoY and FY23 growth of 70% compared with FY22
• PAT margins for Q4FY23 stood at 15.8%

Result PDF

MTAR Technologies announced Q3FY23 results:

•  Q3FY23 vs Q3FY22:
  • Revenue from operations doubled to Rs 160.2 crore in Q3FY23 as against Rs 78.1 crore in Q3FY22, 105.1% increase YoY
  • EBITDA reported at Rs 45.0 crore in Q3FY23 as compared to Rs 22.8 crore in Q3FY22, 97.4% increase YoY
  • Profit before tax stands at Rs 42.0 crore in Q3FY23 as against Rs 18.7 crore in Q3FY22, 124.3% increase YoY
  • Profit after tax was at Rs 31.4 crore in Q3FY23 as against Rs 13.3 crore in Q3FY22, 136.2% increase YoY.
• Q3FY23 vs Q2FY23:
  • Revenue from operations stood at Rs 160.2 crore in Q3FY23 as against Rs 126.2 crore in Q2FY23, 26.9 % increase QoQ
  • EBITDA reported at Rs 45.0 crore in Q3FY23 as compared to Rs 34.9 crore in Q2FY23, 29.0% increase QoQ
  • Profit before tax stands at Rs 42.0 crore in Q3FY23 as against Rs 33.0 crore in Q2FY23, 27.4% increase QoQ
  • Profit after tax was at Rs 31.4 crore in Q3FY23 as against Rs 24.7 crore in Q2FY23, 27.4% increase QoQ

Commenting on the results, Mr. Parvat Srinivas Reddy, Managing Director & Promoter, MTAR Technologies, said, “The company is set to achieve full year guidance of 55%-60% growth in revenue with 30% EBITDA margin /- 100 bps. We look forward to continue our growth momentum in FY24 with a robust revenue increase and sustainable margins backed by healthy order book, and lucrative market opportunities available in Clean Energy – Fuel Cells, Hydel & Others, Civil Nuclear Power, Space and Defence sectors."

Result PDF

Defence company MTAR Technologies announced Q2FY23 results:

• YoY Q2FY23 vs Q2FY22:
  • Revenue from operations stood at Rs 126.2 crore in Q2 FY 23 as against Rs 91.3 crore in Q2 FY 22, 38% increase YoY
  • EBITDA reported at Rs 34.9 crore in Q2 FY 23 as compared to Rs 29.4 crore in Q2 FY 22, 19% increase YoY
  • Profit Before Tax stands at Rs 33.0 crore in Q2 FY 23 as against Rs 27.1 crore in Q2 FY 22, 22% increase YoY
  • Profit After Tax was at Rs 24.7 crore in Q2 FY 23 as against Rs 19.1 crore in Q2 FY 22, 30% increase YoY
  • Diluted EPS stands at Rs 8.03 for Q2 FY 23 as against Rs 6.20 for Q2 FY 22.
• QoQ Q2FY23 vs Q1FY23:
  • Revenue from Operations stood at Rs 126.2 crore in Q2 FY 23 as against Rs 91.0 crore in Q1 FY 23, 39% increase in QoQ
  • EBITDA reported at Rs 34.9 crore in Q2 FY 23 as compared to Rs 25.0 crore in Q1 FY 23, a 40% increase in QoQ
  • Profit Before Tax stands at Rs 33.0 crore in Q2 FY 23 as against Rs 22.2 crore in Q1 FY 23, 49% increase in QoQ
  • Profit After Tax was at Rs 24.7 crore in Q2 FY 23 as against Rs 16.2 crore in Q1 FY 23, 52% increase in QoQ
  • Diluted EPS stands at Rs 8.03 for Q2 FY 23 as against Rs 5.27 for Q1 FY 23.

Commenting on the results, Parvat Srinivas Reddy, Managing Director & Promoter, MTAR Technologies, said, “The company has extended its strong performance into H1 FY 23 by registering fastest growth in the first half so far. H2FY23 is expected to be better than H1FY23. We are on track to achieve our full year guidance of 55%-60% revenue growth with 30% EBITDA margin /- 100 bps”

Result PDF

Defence company MTAR Technologies announced Q1FY23 Result :

• MTAR Technologies clocks PAT of Rs. 16.2 Cr. in Q1 FY 23 with 86.2 % YoY increase
• Revenue from Operations stood at Rs. 91.0 Cr. in Q1 FY 23 as against Rs. 54.0 Cr. in Q1 FY 22, 68.4% increase YoY
• EBITDA reported at Rs. 25.0 Cr. in Q1 FY 23 as compared to Rs. 14.5 Cr. in Q1 FY 22, 72.5% increase YoY
• Profit Before Tax stands at Rs. 22.2 Cr. in Q1 FY 23 as against Rs. 12.6 Cr. in Q1 FY 22, 77.0 % increase YoY
• Profit After Tax was at Rs. 16.2 Cr. in Q1 FY 23 as against Rs. 8.7 Cr. in Q1 FY 22, 86.2 % increase YoY
• Diluted EPS stands at Rs. 5.3 for Q1 FY 23 as against Rs. 2.8 for Q1 FY 22.
• Operating cashflows was at Rs 16.2 Cr. In Q1 FY 23 as against Rs (6.9) Cr.in Q1 FY 22

Result PDF

Defence company MTAR Technologies declares Q4FY22 result:

• MTAR Technologies reports a PAT of Rs. 19.8 Cr. in Q4 FY 22 with 48.8 % QoQ increase
• Revenue from Operations stood at Rs. 98.6 Cr. in Q4 FY 22 as against Rs. 78.1 Cr. in Q3 FY 22,26.2% increase QoQ
• EBITDA reported at Rs. 27.7 Cr. in Q4 FY 22 as compared to Rs. 22.8 Cr. in Q3 FY 22, 21.4% increase QoQ
• Profit Before Tax stands at Rs. 23.8 Cr. in Q4 FY 22 as agahtst Rs. 18.7 Cr. in Q3 FY 22, 27.1% increase QoQ
• Profit After Tax was at Rs.19.8 Cr. in Q4 FY 22 as against Rs. 13.3 Cr. in Q3 FY 22, 48.8% increase QoQ
• Diluted EPS stands at Rs. 6.4 for Q4 FY 22 as against Rs. 4.3 for Q3 FY 22
• Revenue from Operations stood at Rs. 322.0 Cr. in FY22 as against Rs. 246.4 Cr. in FY 21, 30.7% increase
• EBITDA reported at Rs. 94.4 Cr. in FY22 as compared to Rs. 83.1 Cr. in FY21, 13.6% increase
• Profit Before Tax stands at Rs. 82.2 Cr. in FY22 as against Rs. 64.8 Cr. in FY 21, 26.8% increase
• Profit After Tax was at Rs. 60.9 Cr. in FY22 as against Rs. 46.0 Cr. in FY 21, 32.1% increase 
• Diluted EPS in FY 22 stands at Rs.19.8 as against Rs. 17.0 in FY21

Commenting on the results, Mr. Parvat Srinivas Reddy, Managing Director & Promoter, MTAR Technologies, said, "MTAR has clocked an annual revenue of Rs. 322.0 Cr. with an YoY growth of 30.7Yo. We have posted an EBITDA of Rs. 94.4 Cr. with an YoY growth of 13.6% and a Profit after Tax of Rs.60.9 Cr. with an YoY growth of 32.1%.The company continues to strenglhen its product portfolio and diversify into products with attractive growth potential. We are focusing on expanding our international presence, accordingly, the company is in active discussion with multiple global OEMs. The company has always emphasised on adding new capabilities. I'm pleased to announce that we have commenced operations at our sheet metal facility in Adibatla. In addition, we would be further enhancing our competencies by establishing electronics manufacturing facility in.house to cater to Defence and Space sectors"

Result PDF