MTAR Technologies rallies 13% on huge volumes in subdued market; here's why

In the past five weeks, the stock price of MTAR Technologies - a smallcap aerospace & defence company - has zoomed 52 per cent on expectation of strong earnings.

MTAR Technologies share price today

 

Shares of MTAR Technologies hit a 52-week high of ₹2,140.90, as they rallied 13 per cent on the BSE in Tuesday’s intra-day trade amid heavy volumes in an otherwise subdued market. 

 

In the past five weeks, the stock price of the smallcap aerospace & defence company has zoomed 52 per cent on expectations of strong earnings. It has bounced back 86 per cent from its 52-week low of ₹1,152 touched on April 7, 2025. The stock had hit a record high of ₹2,920 on September 11, 2023.

 

At 11:46 AM; MTAR Technologies was quoting 12 per cent higher at ₹2,120, as compared to 0.3 per cent decline in the BSE Sensex. The average trading volumes at the counter jumped nearly eight-fold, with a combined 2.4 million equity shares changing hands on the NSE and BSE.

 

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What's driving MTAR Technologies stock price?

 

MTAR is a leading manufacturer in India’s niche precision manufacturing industry. The company is engaged in the manufacture of mission critical precision engineered systems for Clean Energy - Civil Nuclear Power, Fuel Cells,Hydro, Wind, Space and Defence sectors . 

 

The company emerged as a market leader due to its contribution to the Indian civilian nuclear power programme, Indian space programme, Indian defence, global defence as well as global clean energy sectors. The company’s clients comprise Indian Space Research Organisation (ISRO), Defence Research & Development Organisation (DRDO), Bloom Energy, Andritz, GE Power, Voith, Rafael, Elbit, GKN Aerospace, IAI, Thales among others. 

 

Owing to a complex product portfolio for strategic sectors, MTAR is one of the top three suppliers that provide precision engineering requirements to the Indian Civil Nuclear Power, Space and Defence sectors.

 

Over the past couple of years, the company has successfully added several new customers across geographies, from whom recurring revenues are expected in the coming years. Further, the company is actively engaged in discussions with multiple prestigious global MNCs for various upcoming projects, reinforcing its position as a preferred partner in high-technology, strategic sectors.

 

According to ICRA, MTAR is expected to maintain its healthy revenue growth in FY26, supported by continued execution and robust demand across segments. Further, the growth momentum is expected to sustain in the medium term, supported by healthy orders in the pipeline from domestic and international clients.

 

MTAR has significant exports of 72 per cent to the US in FY25. However, MTAR’s cost structure and engineering depth, achieved through indigenisation of key components, provide a strong buffer against the tariff impacts. 

 

The company had an unexecuted order book of ₹930 crore as of June 2025, which provides revenue visibility for the near to medium term. On September 10, 2025, MTAR received orders worth ₹386 crore from Bloom Energy Corporation, the major customer from the US. 

 

Further, the company expects to receive healthy incremental orders over the next 12 months. The company is adding new products to its portfolio and acquiring clients in various segments, which are expected to augment the revenues, going forward. Further, the favourable demand prospects in the end-user segments and the Government’s thrust on the indigenisation of production augur well for the company’s long-term growth prospects, the rating agency said.

 

MTAR is expected to report a healthy revenue growth in FY2026, supported by a strong order book position. Also, the growth momentum is expected to sustain in the medium term, backed by the likely healthy orders in the pipeline from domestic and international clients. The increase in the order inflow is likely to support the operating leverage, leading to an improvement in the operating margins and healthy coverage indicators, going forward.