MTAR Technologies (MTARTECH) Q4 25/26 earnings summary

Executive summary

• Achieved record FY26 sales of INR 876 crores, EBITDA of INR 171.2 crores, and PAT of INR 94 crores, with strong order inflows of ₹2,453.3 Cr and a diversified order book of ₹2,581.9 Cr as of March 31, 2026.

• Exports now contribute the majority of revenues, reflecting a decade-long strategic focus, with new customers added in clean energy, aerospace, and oil & gas.

• Expanded production capabilities with new facilities for clean energy and oil & gas, supporting future growth and customer demand.

• Audited standalone and consolidated financial results for FY26 were approved, showing strong revenue and profit growth year-over-year, with clean audit opinions.

• Board approved appointment of new cost and internal auditors for three financial years starting FY 2026-27.

Financial highlights

• FY26 revenue from operations: INR 876 crores, up 30% YoY; Q4 FY26 revenue: INR 306 crores, up 67.2% YoY.

• FY26 EBITDA: INR 171.2 crores (41.7% YoY growth); PAT: INR 94 crores (76.2% YoY growth); PAT margin: 10.7%.

• Gross profit for FY26 was ₹417.8 Cr, up 25.1% YoY, though gross margin declined to 47.7%.

• Operating cash flow for FY26: INR 196.9 crores vs INR 101 crores in FY25.

• Exceptional item of ₹3.8 Cr recorded due to statutory impact of new Labour Codes.

Outlook and guidance

• FY27 revenue growth guidance raised to 80% ±5%, with EBITDA margin guidance at ~24%.

• Clean energy expected to contribute ~70% of FY27 revenue; other verticals also growing strongly.

• Estimated closing order book for FY27 projected at INR 5,000 crores.

• CapEx of INR 250-300 crores planned over FY27-28 for capacity expansion.

• Ongoing capacity expansion in clean energy and oil & gas to meet rising demand, with a greenfield oil & gas facility expected by September 2026.