Hyderabad, Nov 8, 2023: MTAR Technologies Ltd (“MTAR”), a leading manufacturer 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 ended Sept 30, 2023.
YoY Q2 FY 24 vs. Q2 FY 23
Revenue from Operations stood at Rs. 166.8 Cr. in Q2 FY 24 as against Rs. 126.2 Cr. in Q2 FY 23, 32.2% increase YoY
EBITDA reported at Rs. 36.1 Cr. in Q2 FY 24 as compared to Rs. 34.9 Cr. in Q2 FY 23, 3.4% increase YoY
Profit Before Tax stands at Rs. 25.7 Cr. in Q2 FY 24 as against Rs. 33 Cr. in Q2 FY 23, 22.1% decrease YoY
Profit After Tax was at Rs. 20.5 Cr. in Q2 FY 24 as against Rs. 24.7 Cr. in Q2 FY 23, 17.1% decrease YoY
Commenting on the results, Mr. Parvat Srinivas Reddy, Managing Director & Promoter, MTAR Technologies Limited , said, “We revise our annual guidance for FY 24 to a revenue of around Rs. 670 Crs – Rs. 700 Crs as against previous guidance of around Rs. 830 Crs – Rs. 860 Crs with an EBITDA of around 26% +/- 100 bps as against previous guidance of around
28% +/- 100 bps due to deferment of shipment plans against the confirmed orders from Clean Energy to the next fiscal year. Long-term growth of the company remains intact as the sectors MTAR is catering to are witnessing significant growth. In addition, we expect there will be an acceleration of orders inflow from H2 FY 24.”
About MTAR Technologies Ltd (www.mtar.in) BSE: 543270; NSE: MTARTECH
MTAR has seven strategically based manufacturing units including an export-oriented unit each based in Hyderabad, Telangana. MTAR caters to Clean Energy – Civil Nuclear Power, Fuel Cells, Hydel & Others, Space, and Defence sectors. The company has a long-standing relationship of over four decades with leading Indian organisations and global OEMs.