MTAR Technologies (MTARTECH) Q3 25/26 earnings summary

Executive summary

• Achieved record quarterly revenue of INR 278 crore in Q3 FY26, up 59% year-over-year, with EBITDA of INR 64 crore, marking the highest quarterly revenue to date.

• Strong order inflow of INR 1,368.8 crore in Q3 FY26, with a diversified order book of INR 2,394.9 crore as of December 31, 2025, spanning clean energy, aerospace & defence, and other sectors.

• Added new customers in clean energy, aerospace, and oil & gas, with batch production commenced for major aerospace clients, expected to drive future revenue.

• Board approved unaudited standalone and consolidated financial results for the quarter and nine months ended December 31, 2025.

• Board approved the resignation of the Company Secretary and Compliance Officer, and the appointment of a new one effective February 2, 2026.

Financial highlights

• Q3 FY26 revenue from operations: INR 278 crore (Q3 FY25: INR 174.5 crore), a 59.3% YoY increase.

• Q3 FY26 EBITDA: INR 64 crore (Q3 FY25: INR 33.3 crore), a 92.5% YoY increase; EBITDA margin at 23.0%.

• Q3 FY26 profit before tax: INR 46.1 crore (Q3 FY25: INR 21.4 crore), a 115.2% YoY increase; PAT surged 117.3% YoY to INR 34.7 crore.

• Gross profit margin for Q3 FY26 at 46.1%; nine months ended at 49.5%, with margin variations due to product mix.

• One-time exceptional item of INR 37.67 million recognized due to new Labour Codes.

Outlook and guidance

• FY26 revenue guidance maintained at INR 900+ crore, with 30-35% growth expected.

• FY27 revenue expected to grow by 50% over FY26, with further margin improvement anticipated.

• Revenue growth expected from new customer additions and ramp-up in aerospace segment, with clean energy and defence sectors remaining key contributors.

• EBITDA margin guidance remains at 21% ±1% for FY26, with expectations of higher margins in FY27.

• Order inflows for Q4 expected at INR 700-800 crore, with a strong pipeline for next year.