MTAR TECHNOLOGIES LTD
MTAR Technologies Q1FY22 Consolidated PAT up 63.6 % YoY
Chennai, August 6, 2021: 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 first quarter ended on 30th June 2021.
Q1FY22 Consolidated Financial Highlights
Operational Highlights
- Recorded highest production of Hot Boxes per month so far in June 2021 in spite of the devastating second wave of Covid-19
- Revenue from contracts with customers (sales) has increased by 10.9% in comparison with Q1 FY21
- Revenue from Exports is increased by 52% compared with Q1 FY21 amidst the supply chain disruptions caused by the second wave of Covid-19
Commenting on the results, Mr. Parvat Srinivas Reddy, Managing Director & Promoter, MTAR Technologies, said,
“Q1 FY22 has been quite challenging as the Nation was hit by devastating second wave, which caused supply chain disruptions across the value chain especially for the firms operating in manufacturing sector due to labour shortages, intermittent lockdowns and delay in inspections. Despite the challenges, MTAR has clocked a revenue of Rs. 54.0 Crs with an YoY growth of 10.9%. We have posted an EBITDA of Rs. 14.5 Crs with an YoY growth of 26.6% and a Net Profit of Rs. 8.7 Crs with an YoY growth of 63.6%.
We anticipate a better growth in the coming quarters of FY22 as the pandemic subsides. The order inflows from Civil Nuclear Power, Clean Energy, Space and Defence sectors are expected to be accelerated due to the huge national and global market potential available in these sectors.
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 organizations 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.
