MTAR Technologies reports strong top-line and bottom-line growth

Hyderabad, Nov 02, 2022: MTAR Technologies Ltd (“MTAR”), a leading precision engineering solutions company engaged in manufacturing and development of mission critical precision engineered systems catering to Clean Energy – Civil Nuclear Power, Fuel Cells, Hydel & Others, Space, and Defence sectors has announced its financial results for the second quarter and half year ended 30 September, 2022.

YOY Q2 FY 23 vs. Q2 FY 22

· Revenue from Operations stood at Rs. 126.2 Cr. in Q2 FY 23 as against Rs. 91.3 Cr. in Q2 FY 22, 38% increase YoY

· EBITDA reported at Rs. 34.9 Cr. in Q2 FY 23 as compared to Rs. 29.4 Cr. in Q2 FY 22, 19% increase YoY

· Profit Before Tax stands at Rs. 33.0 Cr. in Q2 FY 23 as against Rs. 27.1 Cr. in Q2 FY 22, 22% increase YoY

· Profit After Tax was at Rs. 24.7 Cr. in Q2 FY 23 as against Rs. 19.1 Cr. in Q2 FY 22, 30% increase YoY

· Diluted EPS stands at Rs. 8.03 for Q2 FY 23 as against Rs. 6.20 for Q2 FY 22.

QOQ Q2 FY 23 vs. Q1 FY 23

· Revenue from Operations stood at Rs. 126.2 Cr. in Q2 FY 23 as against Rs. 91.0 Cr. in Q1 FY 23, 39 % increase QoQ

· EBITDA reported at Rs. 34.9 Cr. in Q2 FY 23 as compared to Rs. 25.0 Cr. in Q1 FY 23, 40% increase QoQ

· Profit Before Tax stands at Rs. 33.0 Cr. in Q2 FY 23 as against Rs. 22.2 Cr. in Q1 FY 23, 49 % increase QoQ

· Profit After Tax was at Rs. 24.7 Cr. in Q2 FY 23 as against Rs. 16.2 Cr. in Q1 FY 23, 52% increase QoQ

· Diluted EPS stands at Rs. 8.03 for Q2 FY 23 as against Rs. 5.27 for Q1 FY 23.

Operational Highlights

· Order book as on 30 Sept 2022 stands at Rs. 1,288.8 Cr as on 30 Sept 2022

· Received Rs. 643.5 Cr of orders in various sectors including Clean Energy – Civil Nuclear Power, Fuel cells and Hydel in Q2 FY 23

Commenting on the results, Mr. Parvat Srinivas Reddy, Managing Director & Promoter, MTAR Technologies, said, “The company has extended its strong performance into H1 FY 23 by registering fastest growth in the first half so far. H2 FY 23 is expected to be better than H1 FY 23. We are on track to achieve our full year guidance of 55%-60% revenue growth with 30% EBITDA margin +/- 100 bps”