MTAR Technologies clocks highest ever revenues of Rs. 573.8 Cr in FY 23

MTAR Technologies clocks highest ever revenues of Rs. 573.8 Cr in FY 23Hyderabad, May 18, 2023: MTAR Technologies Ltd (“MTAR”), a leading manufacturer engaged in the 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 fourth quarter and fiscal year ended 31 March 2023.

YoY Q4 FY 23 vs. Q4 FY 22 

  • Revenue from Operations doubled to Rs. 196.4 Cr. in Q4 FY 23 as against Rs. 98.6 Cr. in Q4 FY 22, 99.2% increase YoY
  • EBITDA reported at Rs. 49.1 Cr. in Q4 FY 23 as compared to Rs. 27.7 Cr. in Q4 FY 22, 77.1% increase YoY
  • Profit Before Tax stands at Rs. 43.0 Cr. in Q4 FY 23 as against Rs. 23.8 Cr. In Q4 FY 22, 80.4% increase YoY
  • Profit After Tax was at Rs. Cr in 31.1 in Q4 FY 23 as against Rs. 19.8 Cr. in Q4 FY 22,

56.9% increase YoY

FY 23 vs. FY 22

  • Revenue from Operations stood at Rs. 573.8 Cr in FY23 as against Rs. 322.0 Cr. in FY 22, 78.2% increase
  • EBITDA reported at Rs. 154.0 Cr. in FY23 as compared to Rs. 94.4 Cr. in FY22, 63.1% increase
  • Profit Before Tax stands at Rs. 140.2 Cr. in FY23 as against Rs. 82.2 Cr. in FY 22, a 70.6% increase
  • Profit After Tax was at Rs. 103.4 Cr. in FY23 as against Rs. 60.9 Cr. in FY 22, 69.9% increase
  • Diluted EPS in FY 23 stands at Rs. 33.62 as against Rs. 19.79 in FY 22
  • ROCE in FY 23 stands at 20% as compared to 14 %. in FY 22
  • ROE in FY 23 stands at 18% as compared to 12 %. in FY 22

Operational Highlights 

  • Order book as on 31 March 2023 stands at Rs. 1,172.9 Cr
  • Started catering to new global MNC customers in Aerospace & Clean Energy
  • Initiated the qualification process for additional products in Clean Energy
  • Commenced the production of products that have passed the qualification criteria in Clean Energy

Commenting on the results, Mr. Parvat Srinivas Reddy, Managing Director & Promoter, MTAR Technologies, said, “MTAR is poised to witness accelerated growth with healthy margins over the coming years. The company has not only added reputed global MNCs in FY 23 but also in discussions with lot more customers. We are looking forward to a 45%-50% increase in our revenues in FY 24. Our NWC days shall be reduced further by the end of FY 24. Positive industry growth in the sectors of our presence is expected to fuel our growth further”.

Leave a Reply

Your email address will not be published. Required fields are marked *