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 year-over-year growth and record order inflows of ₹2,453.3 Cr.

• Exports now contribute the majority of revenues, with significant capacity expansions underway in clean energy and other sectors.

• Added new customers in clean energy, aerospace, and oil & gas, including significant orders from SLB and collaborations with global aerospace leaders.

• 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 grew 29.6% year-over-year to INR 876.2 crores; EBITDA up 41.7% to INR 171.2 crores; PAT increased 76.2% to INR 94 crores.

• Q4 FY26 revenue was INR 306 crores, up 67.2% year-over-year; Q4 PAT up 222% year-over-year.

• Gross margin at 47.7% (down from 49.4% last year) due to higher input and freight costs; EBITDA margin at 19.5%.

• Cash flow from operations at INR 196.9 crores, up from INR 101 crores last year.

• Exceptional item of INR 3.8 crores recorded due to statutory impact of new Labour Codes.

Outlook and guidance

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

• Clean energy to contribute about 70% of FY27 revenue; strong growth expected in nuclear, defense, and oil & gas.

• Order book expected to close FY27 at around INR 5,000 crores, up from INR 2,580 crores at FY26 end.

• 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.