- Shares of MTAR Technologies rose 5% following strong June-quarter earnings
- Net profit surged to Rs 50.2 crore from Rs 10.8 crore year-on-year
- Revenue doubled to Rs 360.7 crore, with EBITDA margin improving to 23.5%
Shares of MTAR Technologies Ltd. surged 5% on Thursday after the precision engineering company reported a sharp improvement in its June-quarter earnings, with net profit rising nearly five-fold YoY. The stock opened 1.6% higher at Rs 5,277 and extended gains to touch Rs 5,453.50 apiece during the session.
For the first quarter of FY27, MTAR Technologies reported a net profit of Rs 50.2 crore, compared with Rs 10.8 crore in the year-ago period. Revenue more than doubled to Rs 360.7 crore from Rs 156.5 crore.
Operating performance also strengthened significantly. Earnings before interest, tax, depreciation and amortisation rose to Rs 84.9 crore from Rs 28.3 crore a year earlier. EBITDA margin expanded to 23.5% from 18.1%, reflecting improved operating leverage.
Separately, the company said it received an amended purchase order worth $324.62 million, equivalent to about Rs 3,100.09 crore at an exchange rate of Rs 95.50 per dollar. The amendment increases the order value by $85.86 million, or approximately Rs 819.94 crore.
MTAR Technologies said the order was received from an existing customer. The company did not disclose the customer's identity due to confidentiality obligations. The timeline for execution of the amended order will be decided at a later stage.
The strong earnings growth and larger order value supported buying interest in the stock during Thursday's early trade on exchanges.
MTAR Technologies Ltd. Share Price Today
MTAR Technologies Ltd. Share Price Today
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The scrip rose as much as 5% to Rs 5,433 apiece on Thursday at 10:30 a.m which is the upper circuit for the stock. This compares to a 0.08% fall in the NSE Nifty 50 Index.
It has risen 266.82% in the last 12 months and 125.66% year-to-date. Total traded volume so far in the day stood at 0.61 times its 30-day average. The relative strength index was at 42.99.
Out of seven analysts tracking the company, six maintain a 'buy' rating, one maintain a "hold", according to Bloomberg data. The average 12-month consensus price target of Rs 8716.50 implies an upside of 60.2%
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