MTAR Tech soars after bagging contracts in clean energy, aerospace segments

MTAR Technologies jumped 6.95% to Rs 1740.95 after the company announced that it has received Rs 226 crore of orders in clean energy and aerospace segments.

This includes Rs 191 crore of orders for various products from Bloom Energy in clean energy sector and Rs 35 crore of orders from reputed customers in aerospace including Rafael, IMI Systems, and IAI.

"The order value reflects the companys increasing market share in Clean Energy and Aerospace sectors, MTAR Tech said in a statement.

Furthermore, the company expects that orders worth Rs 225 crore would be executed within one year and balance orders shall be executed by April 2026.

Parvat Srinivas Reddy, managing director & promoter, MTAR Technologies, said: "We are optimistic about growth in clean energy and aerospace verticals. The company is expecting significant orders in both the segments going forward.

MTAR Technologies is a leading manufacturer engaged in manufacturing and development of mission critical precision engineered systems catering to clean energy civil nuclear power, fuel cells, hydel & others, space, and defence sectors. The company has a long-standing relationship of over four decades with leading Indian organisations and global OEMs. It has seven strategically based manufacturing units including an export-oriented unit each based in Hyderabad, Telangana.

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