Motilal Oswal sees 20% more upside in MTAR after multibagger return in 2026

MTAR Technologies shares have already grabbed attention this year, surging over 100 per cent. As per exchange data, the sock has outperformed the markets so far in 2026 by skyrocketing 103 per cent.

MTAR Technologies share price target: Motilal Oswal Financial Services has reiterated a ‘Buy’ rating on MTAR Technologies, saying the expanded strategic partnership between Oracle and Bloom Energy is a major positive for the company. 

The brokerage has assigned a target price of ₹6,000 on MTAR Technologies shares. The target implies an upside of more than 20 per cent from the CMP of ₹4,875. 

MTAR Technologies delivers high-precision engineering solutions for aerospace, defence, nuclear, and clean energy sectors.  MTAR Technologies shares have already grabbed attention this year, surging over 100 per cent. As per exchange data, MTAR Technologies shares have outperformed the markets so far in 2026 by skyrocketing 103 per cent. The Nifty 50 index has declined around 7.5 per cent in the same period. 

 

In the past year, MTAR Technologies shares have sprinted 245 per cent, compared with a 3 per cent gain in the Nifty index.  READ | PFC hits 52-week high, REC extends gains, up 5%; analyst sees more upside 

According to Motilal Oswal, MTAR Technologies could see strong growth momentum driven by a significant expansion in its key client’s order pipeline. It said that the strategic partnership between Oracle and Bloom Energy for 2.8GW (from 1.2GW) underscores Bloom’s capability to provide fast and reliable power suited for AI workloads.  

Notably, Bloom has recently expanded its partnership with Oracle to support the rapid buildout of AI and cloud infrastructure in the US. Under a master agreement, Oracle plans to procure up to 2.8 GW of Bloom’s fuel cell systems, with an initial 1.2 GW  already contracted and currently being deployed (by 2027).  

Motilal Oswal said that an order win for Bloom brings incremental revenue for MTAR. The recent order for Bloom from Oracle can translate into ₹14-17 billion incremental orders for MTAR Technologies, translating into 1.8x of its FY26E revenue. 

The brokerage expects  MTAR's revenue/EBITDA/PAT to grow at a CAGR of 49 per cent/65 per cent/90per cent over FY25-FY28.   READ | Groww share price soars 43% thus far in April; BofA sees more upside 

"We remain bullish on this long-term growth trajectory for MTARTECH, which presents a rare combination of structural positioning, earnings visibility, and exponential order growth, all anchored by a decade-long, deeply entrenched customer relationship that is difficult to replicate," Motilal Oswal said in report. 

Notably, MTAR Technologies is Bloom's key supplier of critical hot box assemblies, commanding 60-70 per cent wallet share.  

MTAR Technologies had reported over 100 per cent Y-o-Y rise in Q3FY26 consolidated net profit to ₹34.6 crore. The Hyderabad headquartered firm's revenue grew by 60 per cent Y-o-Y to  ₹280.3 crore in the quarter.  ================================= 

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