MTAR Tech Q2 PAT jumps 30% YoY to Rs 25 cr

MTAR Technologies' consolidated net profit surged 29.6% to Rs 24.69 crore on 38.2% rise in revenue from operations to Rs 126.18 crore in Q2 FY23 over Q2 FY22.

Consolidated profit before tax stood at Rs 32.99 crore in quarter ended 30 September 2022 from Rs 27.11 crore posted in the same period last year.

EBIDTA grew 19% to Rs 34.9 crore in Q2 FY23 as against Rs 29.4 crore in Q2 FY22. EBIDTA margin declined to 27.7% in Q2 FY23 as compared to 32.2% in the corresponding quarter previous year.

The order book as on 30 September 2022 stood at Rs 1,288.8 crore. The firm received Rs 643.5 crore of orders in various sectors including Clean Energy Civil Nuclear Power, Fuel cells and Hydel in Q2 FY23.

Commenting on the results, Parvat Srinivas Reddy, managing director & promoter, MTAR Technologies, said, The company has extended its strong performance into H1 FY23 by registering fastest growth in the first half so far. H2 FY23 is expected to be better than H1 FY23. We are on track to achieve our full year guidance of 55%-60% revenue growth with 30% EBITDA margin +/- 100 bps.

MTAR Technologies is a niche manufacturing service provider in precision engineering and critical assembly of key components and products for various customer segments such as Civil Nuclear Energy, Space, Defence and Aerospace, Clean Energy and others.

Shares of MTAR Technologies rose 0.27% to Rs 1,640 on the BSE.

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