Synopsis:
MTAR Technologies jumped sharply after securing a Rs 386 crore order from Bloom Energy Corporation, strengthening its position in the Clean Energy – Fuel Cells segment. With phased execution planned by Q4 FY26 and Q1 FY27.
The shares of this leading defence company are in focus as it bagged a key order from its international client. In this article, we will try to understand the highlights of this order.
With a market capitalization of Rs 4,522 crore, the shares of MTAR Technologies Ltd made a day high of Rs 1485.65 per share, up by 5 percent from its previous day closing price of Rs 1412.75. In the last one year, the stock has declined by over 18 percent.
About the order
MTAR Technologies Limited, a top player in precision engineering, has just announced that it’s landed orders worth Rs. 386.06 crore from Bloom Energy Corporation, a trusted international partner. These orders are part of the Clean Energy – Fuel Cells segment, underscoring the company’s growing influence and leadership in this rapidly evolving industry.
Out of the total order value, Rs. 205 crore is set to be completed by the fourth quarter of FY26, while the remaining Rs. 181 crore is expected to wrap up in the first quarter of FY27. This contract underscores MTAR’s reliable performance, cutting-edge manufacturing skills, and solid relationships with global clients in the clean energy sector.
Commenting on the development, Mr. Parvat Srinivas Reddy, Managing Director of MTAR Technologies, said,
“The company continues to strengthen its presence in the Clean Energy – Fuel Cells segment, driven by its cutting-edge product portfolio, timely execution, and cost competitiveness, despite macro challenges such as tariffs. In addition, we expect further orders from the fuel cells segment going forward.”
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Financial Highlights
The company reported a revenue of Rs 157 crore in Q1 FY26, up by 23 percent from its Q1 FY25 revenue of Rs 128 crore. However, revenue declined by 14 percent from Rs 183 crore in its previous quarter.
Regarding its profitability, the company reported a net profit of Rs 11 crore in Q1 FY26, up by 175 percent from its Q1 FY25 net profit of Rs 4 crore. However, it declined by 21 percent from Rs 14 crore in its previous quarter.
As of 30 June 2025, the company has a diversified order book of Rs 930.21 crores, of which the clean energy (Fuel cell, Hydel, etc) segment contributes the highest with 47.6 percent, followed by aerospace & defense with 30 percent, clean energy (Civil Nuclear Power) with 16.6 percent, and other products with 5.8 percent.
The stock delivered an ROE and ROCE of 7.39 percent and 10.42 percent respectively, and is currently trading at a high P/E of 76.44x as compared to its industry average of 69.30x.
MTAR Technologies Limited is a precision engineering firm that manufactures high-precision equipment and components for the Indian and international markets. It caters to the civilian nuclear power, clean energy, space, aerospace, and defense industries with products ranging from fuel machining heads to cryogenic assemblies, electro-pneumatic modules, liquid propulsion engines, and aerospace structures.
Written by Satyajeet Mukherjee
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