MTAR Technologies Reports Strong Q4 FY26 Results Driven by Record Order Inflows and Aerospace Expansion
Mtar Technologies Limited announced strong operational achievements, headlined by record order inflows in the financial year 2026 and significant diversification of its order book. The company also highlighted substantial growth in its aerospace and oil & gas sectors, underpinned by key financial performance metrics for Q4 FY26.Order Book and Operational Growth
The company recorded its highest order inflows of Rs. 2453.3 Crs in FY 26. Furthermore, MTAR secured orders worth Rs. 481.6 Crs across various sectors during Q4 FY26.As of March 31, 2026, the company maintains a diversified order book totaling Rs. 2581.9 Crs.
Aerospace and Defense Sector Focus
In the aerospace domain, the company has bolstered its capabilities through key initiatives:
- It is expanding its capacities in a phased manner to meet growing customer demands.
- Significant orders are anticipated for actuator assemblies for LCA Tejas Mark IA.
- The company successfully completed the design and development of the load-bearing structure Z Adapter for Thales Alenia Space, and first articles are currently under progress.
- MTAR also received an order for the Main Landing Gear Support Structure Test Box assembly for the AMCA program and continues to participate in tenders for structural assemblies for fighter jet programs.
Oil & Gas and Infrastructure Expansion
The company is establishing its presence in the Oil & Gas sector by setting up a greenfield facility. This facility is intended to cater to the requirements of Weatherford and other customers and is expected to be commissioned by September '26.
Financial Performance Overview
Q4 FY26 Consolidated Profit & Loss StatementMTAR reported robust financial figures for the quarter. The company’s financial performance across the fiscal year demonstrates significant year-over-year growth.
| Particulars (Rs. Crs) | Q4 FY26 | Q4 FY25 | Y-o-Y | Q3 FY26 | Q-o-Q | FY26 | FY25 | Y-o-Y |
|---|---|---|---|---|---|---|---|---|
| Revenue from Operations | 306.1 | 183.1 | 67.2% | 278.0 | 10.1% | 876.2 | 676.0 | 29.6% |
| Cost of Materials Consumed | 165.0 | 95.7 | 163.9 | 503.5 | 349.5 | |||
| Changes in Inventories | 5.7 | -8.3 | -14.0 | -45.1 | -7.6 | |||
| Gross Profit | 135.4 | 95.7 | 41.5% | 128.1 | 5.7% | 417.8 | 334.1 | 25.1% |
| GP% | 44.2% | 52.3% | 46.1% | 47.7% | 49.4% | |||
| Employee Benefits Expense | 43.0 | 34.5 | 40.2 | 150.9 | 123.8 | |||
| Other Expenses | 30.6 | 27.0 | 23.8 | 95.7 | 89.5 | |||
| EBITDA | 61.8 | 34.2 | 80.9% | 64.0 | -3.5% | 171.2 | 120.9 | 41.7% |
| EBITDA% | 20.2% | 18.7% | 23.0% | 19.5% | 17.9% | |||
| Other Income | 16.4 | 0.0 | 2.4 | 23.1 | 5.2 | |||
| Depreciation and Amortisation Expense | 9.0 | 9.6 | 8.8 | 35.0 | 31.8 | |||
| EBIT | 69.2 | 24.6 | 57.6 | 159.3 | 94.2 | |||
| Finance Costs | 9.6 | 5.9 | 7.7 | 29.4 | 22.2 | |||
| Exceptional Items* | 0.0 | 0.0 | 3.8 | 3.8 | 0.0 | |||
| PBT | 59.5 | 18.6 | 46.1 | 126.1 | 72.1 | |||
| Total Tax Expense | 15.3 | 4.9 | 11.4 | 32.1 | 18.7 | |||
| Profit for the year | 44.3 | 13.7 | 222.3% | 34.7 | 27.7% | 94.0 | 53.4 | 76.2% |
Balance Sheet Summary
The company's balance sheet showed increased capitalization and overall growth in both total assets and equity liabilities.
| Particulars (Rs. Crs) | Mar-26 | Mar-25 |
|---|---|---|
| Total Equity & Liabilities | 1743.4 | 1130.3 |
| Total Assets | 1743.4 | 1130.3 |
| Key components: | ||
| Total Equity | 822.6 | 728.9 |
| Total Current Liabilities | 726.8 | 290.1 |
| Total Non-Current Assets | 615.2 | 512.2 |
| Total Inventories | 500.5 | 346.1 |
Historical Financial Performance
MTAR has shown consistent top-line revenue growth across recent years.
| Particulars (Rs. Crs) | FY26 | FY25 | FY24 | FY23 |
|---|---|---|---|---|
| Revenue from Operations | 876.2 | 676.0 | 580.8 | 573.8 |
| Gross Profit | 417.8 | 334.1 | 278.4 | 304.2 |
| EBITDA | 171.2 | 120.9 | 112.7 | 154.0 |
| Profit for the year | 94.0 | 53.4 | 56.6 | 103.4 |
Working Capital Management
The company manages its working capital cycle, with the latest figures showing the following components:
| Particulars (Days) | Q4FY26 | Q3FY26 |
|---|---|---|
| Receivables | 140 | 134 |
| Inventory | 208 | 210 |
| RM | 120 | 105 |
| WIP | 88 | 105 |
| Payables | 100 | 106 |
The consolidated cash flow statement indicated strong cash generation from operations, reporting Rs. 196.9 Crs for Net Cash from Operating Activities in the period.
MTARTECH Stock Price Movement
On Tuesday, Mtar Technologies Limited shares slipped by 3.82% to settle at ₹6248.5, shedding ₹249.00 in a day’s trading. The stock recorded a significant total traded volume of 679,655 shares.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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