The shares of the defence component manufacturer gained up to 4 percent after the company received a new export order from Bloom Energy Corporation worth Rs 140 crore.
MTAR Technologies Ltd has market capitalization of Rs 5,669.92 crore, the shares were trading at Rs 1,843.30 per shares, increasing around 2 percent as compared to the previous closing price of Rs 1,806.25 apiece.
Reason for rise:-
Today the shares of the company have seen bullish movement after MTAR Technologies Ltd received a new export order from Bloom Energy Corporation worth Rs 140 crore in Clean Energy Sector Fuel Cells Vertical. As per the contract, USD 9.10 Mn shall be executed in FY 2024-25 and balance orders will be dispatched by Q1 FY 2025-26.
Financial Performance:-
Looking forward to the company financial performance, revenue plummted by 27 percent from Rs 196.33 crore in Q4FY23 to Rs 142.94 crore in Q4FY24, during the same period, net profit also plummeted 83 percent from Rs 30.74 crore to Rs 5.07 crore.
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Manufacturing Facility:-
The company have 7 manufacturing units including an Export Oriented Unit (EOU). Plants located in proximity to major defence organizations. Recently, the company has set up two solar rooftop plants of 1.38 MWe total capacity at Unit 2 and EOU to reduce our energy consumption ; intends to set up the solar rooftops at Adibatla and Unit 3.
Order Book:-
As of 31 March 2024, the company has an order Book of Rs. 915.1 crores. Out of which Rs. 58.03 cr of orders were received in Q4FY24. The order book is divided 5 category which include Clean Energy – Civil Nuclear Power 16%, Clean Energy – Fuel Cell, Hydel & Others 58.6% Space: 15.1%, Defence: 6%, Products & Others: 4.3%.
Company Profile:-
MTAR Technologies Limited manufactures mission-critical precision components with close tolerances (5-10 microns) and critical assemblies for high-priority national projects. The company offers precision machining, assembly, testing, quality control, and specialized fabrication capabilities, including indigenously developed products.
Written by:- Abhishek Singh
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