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MTAR Technologies

MTARTECH NSE
₹6,036.50 −276.00 (−4.37%)
P/E
137.95
View as Markdown
MCP
Close 4 Nov 2026 ₹6,036.50 +3,662.60 +154% 1Y
Start ₹2,373.90

Key Fundamentals

SmallcapAerospace & DefenseCapital Goods

Price-based figures as of · EPS basis: Standalone · TTM

ROCE
15.20%
Debt to Equity
0.46
EPS (TTM)
₹43.76
Book Value
₹267.42
Market Cap
—
P/E (TTM)
137.95
P/B
22.57
ROE
12.60%
Dividend Yield
0.05%
EBITDA
₹194 Cr
52W High
₹8,714.00
52W Low
₹2,217.10
Day Range
₹5,997.00 – ₹6,377.00
Volume
8,01,971

Peer Comparison

Industrials › Aerospace & Defense › Engineering › Other Electrical Equipment

MTAR Technologies peer comparison
Waaree Energies
₹2,408.0018.15₹67,713 Cr4.320.17%32.50%38.40%₹30,043 Cr₹4,003 Cr
Apar Industries
₹15,998.0054.39₹65,476 Cr7.860.39%20.30%31.80%₹24,389 Cr₹1,181 Cr
Premier Energies
₹904.0024.61₹40,624 Cr9.530.11%41.00%32.70%₹8,466 Cr₹1,674 Cr
Diamond Power Infrastructure
₹385.85111.84₹22,658 Cr—0.00%—10.40%₹2,348 Cr₹182 Cr
MTAR Technologies (this company)
₹6,036.50137.95₹19,040 Cr22.570.05%12.60%15.20%₹1,080 Cr₹134 Cr
Emmvee Photovoltaic Power
₹246.4112.03₹16,196 Cr3.890.43%50.70%44.60%₹6,023 Cr₹1,418 Cr
Avalon Technologies
₹2,041.00102.05₹13,437 Cr18.920.00%16.50%19.30%₹1,764 Cr₹134 Cr
Median 7 companies₹2,041.0054.39₹22,658 Cr8.700.11%26.40%31.80%₹6,023 Cr₹1,181 Cr

Comparable companies in the same industry. Market cap, P/E and P/B use the latest price; other metrics are as reported in filings. A dash means the figure is not published for that company.

Tapetide Score

Data-driven rating, 0–100, as of . How it works →

Overall score

39 Weak

Data confidence 100/100

surveillance:ASM2insider_selling

Category scores

Quality
61
Good
Returns, margins, earnings quality 22% weight
Valuation
17
Poor
Cheap vs sector & own history 24% weight
Growth
95
Strong
Sales & profit trajectory 9% weight
Financial Health
46
Average
Solvency, leverage, coverage 9% weight
Momentum
35
Poor
Trend strength, vol-adjusted 12% weight
Ownership
49
Average
FII/DII/promoter flows 24% weight
Capped: a governance trigger overrides the fundamentals here (surveillance:ASM2 ≤ 50).

The Tapetide Score is data analysis, not investment advice. Tapetide is not a SEBI-registered research analyst or investment adviser.

Key Insights

Strengths

3
  • Company is expected to give good quarter
  • Company's median sales growth is 20.4% of last 10 years
  • Company's working capital requirements have reduced from 145 days to 70.7 days

Weaknesses

5
  • Stock is trading at 28.5 times its book value
  • Though the company is reporting repeated profits, it is not paying out dividend
  • Promoter holding has decreased over last quarter: -1.09%
  • Company has a low return on equity of 9.58% over last 3 years.
  • Debtor days have increased from 115 to 140 days.

Technical Indicators

Technical signals: verdict and indicator counts
GroupSignalBearishNeutralBullish
OverallStrong Bearish1045
OscillatorsBullish243
Moving AveragesStrong Bearish802

Key readings

RSI (14)
32.33
Neutral
MACD (12,26,9)
−242.46
Bearish
SMA (50)
7,150.51
Bearish
SMA (200)
5,847.00
Bullish

As of

Analyst Rating

Based on 4 analysts
BUY100%

4 of 4 analysts rate Buy, 0 Hold, 0 Sell.

As of

BUY
4
100%
HOLD
0
0%
SELL
0
0%

Growth Rate

From the financial statements below. 10Y, 5Y, 3Y: compound annual growth to Mar 2026; 1Y: fiscal year to Mar 2026 against Mar 2025; TTM: four quarters to Jun 2026 against Jun 2025.

Revenue

Revenue growth by window
10Y+26.88%
5Y+28.92%
3Y+15.20%
1Y+29.59%
TTM+53.55%

Net profit

Net profit growth by window
10YZero base
5Y+15.61%
3Y−2.97%
1Y+75.93%
TTM+123.33%

Operating cash flow

Operating cash flow growth by window
10Y—
5Y+84.42%
3Y+177.34%
1Y+88.24%
TTM—

10Y: The statements do not go back far enough for this window.

TTM: Reported once a year, so there is no trailing-twelve-month figure.

Operating margin· change in pp

Operating margin growth by window
10Y+5.94 pp
5Y−14.22 pp
3Y−7.36 pp
1Y+1.62 pp
TTM+2.34 pp

Revenue by year

Revenue by year, ₹ crore
Mar 2017₹101 Cr
Mar 2018₹157 Cr
Mar 2019₹184 Cr
Mar 2020₹214 Cr
Mar 2021₹246 Cr
Mar 2022₹322 Cr
Mar 2023₹573 Cr
Mar 2024₹580 Cr
Mar 2025₹676 Cr
Mar 2026₹876 Cr

Net profit by year

Net profit by year, ₹ crore
Mar 2017−₹15.00 Cr
Mar 2018₹5.00 Cr
Mar 2019₹39.00 Cr
Mar 2020₹31.00 Cr
Mar 2021₹46.00 Cr
Mar 2022₹61.00 Cr
Mar 2023₹104 Cr
Mar 2024₹56.00 Cr
Mar 2025₹54.00 Cr
Mar 2026₹95.00 Cr

Analyst Forecasts

Forecast For
Dec 26 consensus · EBITDA
₹114 Cr +5.8% vs Sep 26
Reported High Mean Low

AI Analysis — Bull vs Bear

Figures as of 4 Nov 2026
AI opinion · based on fundamentals
Risk high

MTAR Technologies trades at a price of ₹6,036.50 as of 2026-11-04 with a market cap of ₹19,040 crore and a PE (TTM) of 137.95, reflecting steep premium valuations. The company has delivered strong long-term sales growth of 27% CAGR over 10 years and TTM revenue growth of 53%, but profitability has been uneven with 3-year compounded profit growth of -1%.

Bull Case 8
  • TTM revenue growth of 53% signals a sharp acceleration in top-line momentum
  • 10-year compounded sales CAGR of 27% demonstrates a sustained long-term growth trajectory
  • TTM profit growth of 127% indicates a significant earnings recovery after a period of stagnation
  • Working capital days have improved materially from 145 days to 70.7 days, freeing up cash flow
  • Median sales growth of 20.4% over the last 10 years reflects consistent revenue compounding
  • Stock CAGR of 292% over 1 year and 43% over 3 years reflects strong market re-rating in the aerospace and defence space
  • Debt-to-equity ratio of 0.46 as of 2026-11-04 remains manageable, indicating the company is not over-leveraged
  • ROCE of 15.3% as of 2026-11-04 suggests reasonable capital efficiency for a precision engineering business
Bear Case 8
  • PE (TTM) of 137.95 as of 2026-11-04 implies extremely stretched valuations that leave little room for execution missteps
  • Price-to-book of 22.57 (trading at 28.5 times book value per known data) is exceptionally high for a manufacturing company
  • 3-year compounded profit growth of -1% shows earnings stagnated over a multi-year period despite revenue growth
  • 3-year average return on equity of approximately 9.58% is low relative to the premium valuation the stock commands
  • Debtor days have increased from 115 to 140 days, indicating slower collections and potential working capital stress on the receivables side
  • The company does not pay a meaningful dividend despite reporting repeated profits, with a dividend yield of just 0.05% as of 2026-11-04
  • Promoter holding decreased by 1.09% in the last quarter, which may signal reduced insider conviction
  • The stock is down significantly from its 52-week high of ₹8,714, representing a roughly 31% decline from the peak as of the ₹6,036.50 close on 2026-11-04

This is AI-generated analysis, not financial advice. Do your own due diligence.

AI News Digest

9h ago

TL;DR: MTAR Technologies is expanding its energy solutions footprint by acquiring full ownership of Axiom Energy Solutions, signaling strategic intent beyond its core aerospace and defense business. The promoter share pledge of 32,000 shares is a minor corporate event with no immediate red flags. No material headwinds surfaced in this period. The trend is stable, with the Axiom acquisition worth monitoring for how it contributes to revenue diversification going forward.

Positives 1
  • Full ownership of Axiom Energy Oct 16

    MTAR Technologies acquired 100% ownership of Axiom Energy Solutions, consolidating its position in the energy solutions space and expanding its corporate portfolio.

Neutral 1
  • Promoter pledges 32,000 shares Oct 16

    Promoter Kavitha Reddy Gangapatnam pledged 32,000 MTAR equity shares with 360 One Distribution Services to avail a loan, recorded on Sep 17, 2026.

Quarterly Results

₹ Cr
MTARTECH quarterly results, ₹ crore
Particulars Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales
152
167
118
143
128
190
174
183
157
136
278
306
361
Expenses
119
130
95
125
112
154
141
149
128
119
214
244
276
Operating Profit
34
36
24
18
16
37
33
34
28
17
64
62
85
OPM %
22%
22%
20%
13%
13%
19%
19%
19%
18%
13%
23%
20%
24%
Other Income
4
1
1
1
1
2
3
0
1
4
−1
17
8
Interest
6
5
6
6
5
5
6
6
6
6
8
10
16
Depreciation
5
6
6
6
6
8
9
10
8
9
9
9
9
PBT
27
26
13
7
6
25
22
19
15
6
46
60
68
Tax %
26%
20%
19%
32%
28%
26%
25%
25%
26%
24%
24%
26%
25%
Net Profit
20
21
11
5
5
19
16
14
11
5
35
44
50
EPS (₹)
6.44
6.77
3.43
1.65
1.48
6.11
5.31
4.62
3.65
1.49
11.43
14.42
16.42

Profit & Loss

₹ Cr
MTARTECH profit and loss, annual, ₹ crore
Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales
81
81
101
157
184
214
246
322
573
580
676
876
1,080
Expenses
79
71
113
125
130
156
163
228
419
468
555
705
853
Operating Profit
2
11
−12
32
54
58
83
94
154
112
121
171
228
OPM %
2.3%
13%
−12%
20%
29%
27%
34%
29%
27%
19%
18%
20%
21%
Other Income
3
1
1
1
4
4
1
9
20
6
6
20
27
Interest
8
7
5
4
4
5
7
7
14
22
22
29
39
Depreciation
5
5
5
11
11
12
13
14
18
23
32
34
36
PBT
−7
−1
−22
17
42
46
65
82
141
73
72
127
180
Tax %
−36%
−133%
−30%
68%
6%
31%
29%
26%
26%
23%
26%
25%
—
Net Profit
−5
0
−15
5
39
31
46
61
104
56
54
95
135
EPS (₹)
−1.64
0.06
−5.34
1.92
13.89
11.7
14.98
19.79
33.84
18.29
17.51
30.99
43.76
Div. Payout %
0%
0%
0%
0%
22%
43%
40%
15%
0%
0%
0%
0%
—

Balance Sheet

₹ Cr
MTARTECH balance sheet, annual, ₹ crore
Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital
28
28
28
28
28
27
31
31
31
31
31
31
Reserves
180
181
166
177
207
198
446
489
590
646
700
795
Borrowings
49
26
29
20
29
29
17
96
143
190
177
377
Other Liabilities
48
38
71
56
41
92
93
112
299
139
220
542
Total Liabilities
306
273
294
281
305
346
586
728
1,063
1,006
1,128
1,744
Fixed Assets
145
146
148
152
162
155
167
196
282
332
425
497
CWIP
8
8
8
2
6
12
11
44
63
68
53
34
Investments
0
0
0
0
0
0
0
62
34
7
7
222
Other Assets
152
119
138
127
137
179
409
425
683
600
643
990
Total Assets
306
273
294
281
305
346
586
728
1,063
1,006
1,128
1,744

Cash Flow

₹ Cr
MTARTECH cash flow, annual, ₹ crore
Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating
—
—
—
14
42
56
9
−30
9
55
102
192
Investing
—
—
—
−1
−33
−12
−22
−145
−88
−54
−104
−347
Financing
—
—
—
−14
−7
−41
180
54
32
25
−35
155
Net Cash Flow
—
—
—
−1
2
3
167
−121
−47
27
−37
−1
Free Cash Flow
—
—
—
12
18
44
−14
−121
−97
−35
2
65
CFO/OP
—
—
—
53
96
109
24
−12
27
69
96
127

Ratios

MTARTECH financial ratios, annual
Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days
71
88
140
114
100
105
114
154
132
92
113
140
Inventory Days
—
—
—
269
240
382
467
535
524
421
369
397
Days Payable
—
—
—
87
35
155
158
179
296
74
112
119
Cash Conversion Cycle
71
88
140
296
305
332
423
510
360
438
370
419
Working Capital Days
418
331
177
132
114
59
175
191
189
194
170
71
ROCE %
0%
2%
−7%
10%
18%
19%
19%
16%
22%
11%
11%
15%

Insights

Beta

AI-extracted from concalls & annual reports · figures as reported, with sources

Log in to view MTAR Technologies insights

64 extracted metrics across FY15–FY27.

Shareholding Pattern

As of Sep 2026

  • Promoters 29.23%
  • DIIs 27.09%
  • FIIs 20.87%
  • Public 19.91%
  • Others 2.90%

3.89% of promoter holding pledged as of Sep 2026

Change vs previous quarter

Not shown for some quarters: Others. Not available separately for this quarter: the shareholding filing gives Public and Others as one figure, shown under Public, so Others is left blank rather than estimated.

Documents

Frequently Asked Questions about MTAR Technologies

What does MTAR Technologies Ltd do?
MTAR develop and manufactures components and equipment for the defense, aerospace, nuclear and clean energy sectors. The co. was incorporated in 1970 by the promoters, Mr PR Reddy, Mr KSN Reddy and Mr PJ Reddy, to cater to the technical and engineering needs of the Indian govt in the post embargo…
Where is MTAR Technologies Ltd (MTARTECH) listed?
MTAR Technologies Ltd trades as MTARTECH on the NSE and under code 543270 on the BSE.
Which sector does MTAR Technologies Ltd belong to?
MTAR Technologies Ltd is classified under the Aerospace & Defense sector, in the Engineering industry.
What is the PE ratio of MTAR Technologies Ltd?
MTAR Technologies Ltd trades at a PE ratio of 137.95 as of 4 Nov 2026, on earnings per share of ₹43.76, against a book value of ₹267.42 per share.
What is the 52-week high and low of MTAR Technologies Ltd?
Over the last 52 weeks MTAR Technologies Ltd has traded between ₹2,217.1 and ₹8,714 as of 4 Nov 2026.
Does MTAR Technologies Ltd pay dividends?
MTAR Technologies Ltd has a dividend yield of 0.05%.
What is the Return on Equity (ROE) of MTAR Technologies Ltd?
MTAR Technologies Ltd reported a return on equity of 12.60%. Its debt-to-equity ratio is 0.46.

Company Information

MTAR develop and manufactures components and equipment for the defense, aerospace, nuclear and clean energy sectors. The co. was incorporated in 1970 by the promoters, Mr PR Reddy, Mr KSN Reddy and Mr PJ Reddy, to cater to the technical and engineering needs of the Indian govt in the post embargo regime. MTAR has manufacturing footprints in Hyderabad with seven units spread across a 4 km radius and a dedicated export facility as well. In addition, the company also supplies specialised products such as Ball Screws, Water Lubricated Bearings, Roller Screws, Electro-Mechanical Actuation Systems, ASP assemblies etc. that find applications across diverse sectors.

Website mtar.in
Listed 15 Mar 2021
Face Value ₹10

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