Hyderabad, MTAR Technologies Ltd (“MTAR”), a leading precision engineering solutions company engaged in 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 third quarter ended on 31th December, 2021.
YoY Q3 FY 22 Vs Q3 FY 21
Revenue from Operations stood at Rs. 78.1 crore as against Rs. 55.2 crore in Q3FY21, 41.4 % increase YoY
EBITDA reported at Rs 22.8 crore in Q3 FY 22 as compared to Rs. 17.5 crore in Q3FY21, 30.3% increase YoY
Profit Before Tax stands at Rs 18.7 crore as against Rs. 12.4 crore in Q3FY21, 50.9% increase YoY
Profit After Tax reported was at Rs. 13.3 crore as against Rs. 8.8 crore in Q3FY21, 50.5% increase YoY
Diluted EPS stands at Rs. 4.3 per share for Q3 FY 22 as against Rs. 3.3 per share for Q3 FY 21
Revenue from Operations for YTD FY 22 stood at Rs. 223.4 crore as against Rs. 177.3 crore for YTD FY 21, 26.0% increase YTD YoY
EBITDA for YTD FY 22 reported at Rs 66.7 crore as compared to Rs. 53.0 crore for YTD FY21, 25.8% increase YTD YoY
Profit Before Tax for YTD FY 22 stands at Rs 58.4 crore as against in 39.6 for YTD FY 21, 47.5% increase YTD YoY
Profit After Tax for YTD FY 22 was at Rs. 41.1 crore as against Rs. 28.1 crore for YTD FY 21, 46.3% increase YoY
Diluted EPS for YTD FY 22 stands at Rs. 13.4 per share as against Rs. 10.5 per share for YTD FY 21
Operational Highlights
Revenue from Exports increased by Rs. 31.0 crores in Q3 FY 22 in comparison with Q3 FY 21, an increase of 151.1%. YTD FY 22 Revenue from Exports increased by Rs. 51.4 Cr in comparison with YTD FY 21, an increase of 61.4%
Order book as on 7 Feb 2022 stands at Rs. 599.6 crores as per our expectations
Received new orders for roller screws and electro-mechanical actuators; products that are currently under development
Declared interim dividend of Rs. 3/- per share
Received an upgrade in credit ratings from A- (Positive) to A (Stable) from ICRA
Commenting on the results, Mr. Parvat Srinivas Reddy, Managing Director & Promoter, MTAR Technologies, said, “MTAR has clocked a revenue of Rs. 78.1 crores with an YoY growth of 41.4%. We have posted an EBITDA of Rs. 22.8 crores with YoY growth of 30.3% and a net profit of Rs. 13.3 crores with YoY growth of 50.5%. Domestic order inflows from Civil Nuclear Power, Space & defence sectors are expected to be fast-tracked over the coming quarters. Union budget 2022 aligns with Government’s commitment to promote Atmanirbhar Bharat initiative and indigenisation, which positions Indian manufacturing sector to grow at a rapid pace. Amidst a conducive macro-economic environment backed by a robust order book, we are confident of witnessing an accelerated growth over the coming quarters.”
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 Civil Nuclear Power, Space & Defence and Clean Energy sectors. The Company has a long-standing relationship of over four decades with leading Indian organisations such as Nuclear Power Corporation of India, The Indian Space Research Organization (ISRO) and the Defense Research and Development Organization (DRDO). MTAR client base also includes reputed global OEMs such as Bloom Energy, Rafael Advanced Defense Systems, Elbit Systems, among others. The company’s product portfolio comprises of assemblies for core of the nuclear island, assemblies for Space Launch Vehicles including liquid propulsion engines, Cryogenic upper Stage (Turbo pumps, booster pumps, gas generators and injector heads), electro-pneumatic modules for satellites, components and assemblies leading Indian and global defence organizations, equipment for fuel cells including Solid Oxide Fuel Cell Units, Hydrogen Units and electrolysers.
The facilities at Unit 2 and EOU of the company have been certified for ISO 14001, IS0 45001, ISO 27001 and the facilities at EOU and MTS have been certified for Nadcap. MTAR is in the process of establishing dedicated sheet metal and specialized fabrication facilities at Adibatla
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