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Mtar Technologies Ltd sees yoy growth 86.2%

MTAR Technologies clocks PAT of Rs. 16.2 Cr. in Q1 FY 23 with 86.2 % YOY increase

MTAR Technologies Ltd (“MTAR”), a leading precision engineering solutions company engaged in the manufacturing and development of mission-critical precision components with close tolerances and critical assemblies catering to nuclear, space, defense, and clean energy sectors, has announced its financial results for the first quarter ended 30 June 2022.

YOY Q1 FY 23 vs. Q1 FY 22, Revenue from Operations stood at Rs. 91.0 Cr. in Q1 FY 23 as against Rs. 54.0 Cr. in Q1 FY 22, a 68.4% increase YoY.

EBITDA reported at Rs. 25.0 Cr. in Q1 FY 23 as compared to Rs. 14.5 Cr. in Q1 FY 22, a 72.5% increase YoY
Profit Before Tax stands at Rs. 22.2 Cr. in Q1 FY 23 as against Rs. 12.6 Cr. in Q1 FY 22, a 77.0 % increase YoY.
Profit After Tax was at Rs. 16.2 Cr. in Q1 FY 23 as against Rs. 8.7 Cr. in Q1 FY 22, 86.2 % increase YoY
Diluted EPS stands at Rs. 5.3 for Q1 FY 23 as against Rs. 2.8 for Q1 FY 22.
Operating cashflows was at Rs 16.2 Cr. In Q1 FY 23 as against Rs (6.9) Cr.in Q1 FY 22

Operational Highlights

Order book as on 30 June 2022 stands at Rs. 765.6 Cr
Working capital days reduced to 249 days (as of June 22) from 275 days (as of March 22)
Initiated working on new products, including ceramic assemblies and heaters, in Q1 FY 23

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Commenting on the results, Mr. Parvat Srinivas Reddy, Managing Director & Promoter, MTAR Technologies, said, “ The company has received substantial orders in the Clean Energy segment in Q1 FY 23. We are anticipating an accelerated order inflow over the next three quarters. We are working towards building a strong order book, enhancing our customer base, and augmenting our capabilities to address the growing market in Clean Energy, Civil Nuclear power, Space, and Defence sectors”

About MTAR Technologies Ltd (www.mtar.in) BSE: 543270; NSE: MTARTECH

MTAR has seven strategically based manufacturing units, including an export-oriented unit in Hyderabad, Telangana. MTAR caters to Civil Nuclear Power, Space, Defence, and Clean Energy sectors. The company has a long-standing relationship of over four decades with leading Indian organizations and global OEMs.

This article was shared with Prittle Prattle News as a Press Release.
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