MTAR Tech share price falls 11% as US client faces project uncertainty

The sharp decline in MTAR Technologies shares today followed reports that Crusoe Energy Systems LLC has paused work on a project in Wyoming, for which Bloom Energy was contracted as fuel cell supplier

MTAR Technologies share price today: MTAR Technologies shares traded under pressure today following a 10 per cent crash in Bloom Energy stock overnight in the US. Bloom Energy is the single largest client for MTAR Technologies, contributing more than 55 per cent of the company's total revenue. 

MTAR Tech shares opened lower at ₹7,100 on the National Stock Exchange (NSE) and made a low of ₹6,330, down 11 per cent in intraday deals. 

As of 1 PM, the counter was underperforming the markets significantly, trading near the day's low at ₹6,402, down 9.9 per cent. In comparison, the Nifty 50 index was up 0.30 per cent. 

 

In the past two sessions, MTAR Technologies shares have lost around 15 per cent, as per NSE data. In 2026 so far, the counter has outperformed the markets with a multibagger return of 167 per cent. In one year, the stock has skyrocketed 271 per cent. 

Hyderbad-based MTAR Technologies is a high-precision engineering solutions provider, serving aerospace, defence, nuclear, and clean energy sectors.  CATCH STOCK MARKET UPDATES TODAY LIVE

Crusoe has paused work on key project 

The sharp decline in MTAR Technologies shares today followed reports that Crusoe Energy Systems LLC, a data center developer serving companies such as OpenAI and Microsoft, has paused work on a project in Wyoming, for which Bloom Energy was contracted as fuel cell supplier. 

According to a Bloomberg report, Crusoe has paused work on a planned 1.8-gigawatt data centre campus in Cheyenne, Wyoming. The project was expected to be powered by 900 MW of Bloom Energy fuel cells along with grid electricity 

“At the request of our customer, Crusoe has paused its development activities," the company said in a statement, without disclosing the name of the customer. 

Notably, MTAR Technologies is Bloom's key supplier of critical hot box assemblies, commanding majority of wallet share.   READ | Unicommerce Esolutions shares rally 15%, up 24% from 52-week low; check why 

Ravi Singh, chief research officer at MasterTrust, said that MTAR Tech's long-term outlook still looks positive, especially after securing a large international order worth over ₹2,200 crore, which has improved future revenue visibility. Investors also remain optimistic because MTAR operates in specialised high-entry-barrier businesses where competition is limited.  

"While short-term fluctuations may continue, the company’s strong order book and presence in strategic sectors keep the broader growth story intact," he said. 

For the March 2026 quarter, MTAR Technologies reported a net profit of ₹44.3 per cent, up over 223 per cent on Y-o-Y basis. Its revenue from operations increased 67.2 per cent Y-o-Y ₹306.1 crore in Q4FY26. Ebitda grew by 80.9 per cent to ₹61.7 crore in the quarter, and margin expanded to 20.2 per cent. 

For the full FY26, the company's profit jumped by 94 per cent Y-o-Y from ₹53.4 crore, while revenue surged by 29 per cent to ₹876.2 crore.   =================================== 

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