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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 

56.9% increase YoY

FY 23 vs. FY 22

Operational Highlights 

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”.

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