Hyderabad, Feb 2023: MTAR Technologies Ltd (“MTAR”), a leading precision engineering solutions company engaged in manufacturing and development of mission critical precision engineered systems catering to Clean Energy – Civil Nuclear Power, Fuel Cells, Hydel & Others, Space, and Defence sectors has announced its financial results for the third quarter and 9 months ended 31 December, 2022.
YoY Q3 FY 23 vs. Q3 FY 22
· Revenue from Operations doubled to Rs. 160.2 Cr. in Q3 FY 23 as against Rs. 78.1 Cr. in Q3 FY 22, 105.1% increase YoY
· EBITDA reported at Rs. 45.0 Cr. in Q3 FY 23 as compared to Rs. 22.8 Cr. in Q3 FY 22, 97.4% increase YoY
· Profit Before Tax stands at Rs. 42.0 Cr. in Q3 FY 23 as against Rs. 18.7 Cr. in Q3 FY 22, 124.3% increase YoY
· Profit After Tax was at Rs. 31.4 Cr in Q3 FY 23 as against Rs. 13.3 Cr. in Q3 FY 22, 136.2% increase YoY
QoQ Q3 FY 23 vs. Q2 FY 23
· Revenue from Operations stood at Rs. 160.2 Cr . in Q3 FY 23 as against Rs. 126.2 Cr. in Q2 FY 23, 26.9 % increase QoQ
· EBITDA reported at Rs. 45.0 Cr in Q3 FY 23 as compared to Rs. 34.9 Cr. in Q2 FY 23, 29.0% increase QoQ
· Profit Before Tax stands at Rs. 42.0 Cr in Q3 FY 23 as against Rs. 33.0 Cr. in Q2 FY 23,
27.4 % increase QoQ
· Profit After Tax was at Rs. 31.4 Cr in Q3 FY 23 as against Rs. 24.7 Cr. in Q2 FY 23, 27.4% increase QoQ
Operational Highlights
· Order book as on 31 Dec 2022 stands at Rs. 1,183.0 Cr
· Received Rs. 893.1 Cr of orders in various sectors including Clean Energy – Civil Nuclear Power, Fuel cells and Hydel sectors YTD as on 31 Dec 2022
· Entered into an MOU Framework with Indian National Space Promotion and Authorization Centre (IN-SPACe) for design and development of a Two Stage to Low Earth Orbit All Liquid Small Satellite Launch Vehicle
· Added reputed global MNC customers such as Thales, Collins Aerospace, GE Power etc. in FY 23
Commenting on the results, Mr. Parvat Srinivas Reddy, Managing Director & Promoter, MTAR Technologies, said, “The company is set to achieve full year guidance of 55%-60% growth in revenue with 30% EBITDA margin +/- 100 bps. We look forward to continue our growth momentum in FY 24 with a robust revenue increase and sustainable margins backed by healthy order book, and lucrative market opportunities available in Clean Energy – Fuel Cells, Hydel & Others, Civil Nuclear Power, Space and Defence sectors. ”
