MTARTECH

Mtar Technologies Limited

Complex assemblies and components for nuclear reactors and defense systems

Industrials›Capital Goods›Electrical Equipment›Other Electrical Equipment

mtar.in(opens the company website in a new tab)
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Key metrics

Price as of 2026-10-16

Stock price
₹7054.50
Market cap
21,698 Cr
Stock P/E
162.6
P/B
26.37
Dividend yield
0.1%
ROE (FY26)
11.4%
ROCE (FY26)
13.0%
Operating margin (FY26)
15.5%
Debt / equity (FY26)
0.45
OCF / EBITDA (FY26)
115.0%
OCF / EBITDA (3Y)
87.8%

Full years shown; sign in free for the trailing twelve months. Learn about these metrics →

Price & valuation

Share price and valuation multiples (P/E, P/B and more) over time.

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What you need to know

MTAR (Mtar Technologies) is a precision engineering manufacturer that makes components and systems for clean energy (fuel cells and hydro), civil nuclear, and aerospace and defence customers, and has recently entered data center infrastructure products.

Company snapshot

4thBy market cap

Ranked among 32 companies in Other Electrical Equipment.

What we see

Positives
  • ✓88% of operating profit came in as cash over the last three years — profits are backed by real cash.

Statement tables · Consolidated

Switches quarterly, P&L, balance sheet, and cash flow. Key metrics and ratios stay on consolidated when available.

Amounts in ₹ Cr · tap + to expand rows

Quarterly results

Quarterly · ₹ Cr · tap + rows to expand

MetricSept 2023Dec 2023Mar 2024Jun 2024Sept 2024Dec 2024Mar 2025Jun 2025Sept 2025Dec 2025Mar 2026Jun 2026
Sales167 Cr118 Cr143 Cr128 Cr190 Cr174 Cr183 Cr157 Cr136 Cr278 Cr306 Cr361 Cr
Operating expenses (approx.)131 Cr95 Cr125 Cr112 Cr153 Cr141 Cr149 Cr128 Cr119 Cr214 Cr244 Cr276 Cr
EBITDA36 Cr24 Cr18 Cr17 Cr37 Cr33 Cr34 Cr28 Cr17 Cr64 Cr62 Cr85 Cr
OPM %21.6%20.2%12.7%12.9%19.4%19.1%18.6%18.1%12.5%23.0%20.2%23.6%
Other income0.84 Cr0.48 Cr0.38 Cr0.53 Cr1 Cr3 Cr0.03 Cr0.61 Cr4 Cr2 Cr16 Cr8 Cr
Interest5 Cr6 Cr6 Cr5 Cr5 Cr6 Cr6 Cr6 Cr6 Cr8 Cr10 Cr16 Cr
Depreciation6 Cr6 Cr6 Cr6 Cr8 Cr9 Cr10 Cr8 Cr9 Cr9 Cr9 Cr10 Cr
Profit before tax26 Cr13 Cr7 Cr6 Cr25 Cr21 Cr19 Cr15 Cr6 Cr46 Cr60 Cr67 Cr
Tax %20.3%18.9%32.2%28.6%25.8%25.5%26.3%27.0%25.2%24.8%25.6%25.5%
Net profit20 Cr10 Cr5 Cr4 Cr19 Cr16 Cr14 Cr11 Cr4 Cr35 Cr44 Cr50 Cr
EPS (₹)₹6.65₹3.40₹1.58₹1.44₹6.10₹5.19₹4.46₹3.52₹1.38₹11.28₹14.40₹16.33

Profit & loss (annual)

Annual · last column is TTM · ₹ Cr · tap + to expand

MetricMar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales214 Cr246 Cr322 Cr574 Cr581 Cr676 Cr876 CrSign in free for the trailing twelve months
Operating expenses (approx.)156 Cr163 Cr228 Cr420 Cr468 Cr555 Cr705 CrSign in free for the trailing twelve months
EBITDA58 Cr83 Cr94 Cr154 Cr113 Cr121 Cr171 CrSign in free for the trailing twelve months
OPM %27.1%33.7%29.3%26.8%19.4%17.9%19.5%Sign in free for the trailing twelve months
Other income4 Cr1 Cr9 Cr19 Cr6 Cr5 Cr23 CrSign in free for the trailing twelve months
Interest5 Cr7 Cr7 Cr15 Cr22 Cr22 Cr29 CrSign in free for the trailing twelve months
Depreciation12 Cr13 Cr14 Cr19 Cr23 Cr32 Cr35 CrSign in free for the trailing twelve months
Profit before tax46 Cr65 Cr82 Cr140 Cr74 Cr72 Cr126 CrSign in free for the trailing twelve months
Tax %31.2%28.9%26.0%26.2%24.6%26.1%25.5%Sign in free for the trailing twelve months
Net profit31 Cr46 Cr61 Cr103 Cr56 Cr53 Cr94 CrSign in free for the trailing twelve months
EPS (₹)₹11.11₹16.99₹19.79₹33.62₹18.24₹17.19₹30.57Sign in free for the trailing twelve months
Dividend payout %—17.4%30.3%0.0%0.0%0.0%0.0%Sign in free for the trailing twelve months
Sign in free for the trailing twelve months

The latest four quarters added up, next to each full year

Balance sheet

Annual · ₹ Cr · tap + rows to expand

MetricMar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity capital27 Cr31 Cr31 Cr31 Cr31 Cr31 Cr31 Cr
Reserves198 Cr446 Cr489 Cr589 Cr646 Cr698 Cr792 Cr
Borrowings29 Cr12 Cr96 Cr143 Cr191 Cr177 Cr369 Cr
Other liabilities92 Cr98 Cr112 Cr300 Cr140 Cr224 Cr552 Cr
Total liabilities346 Cr586 Cr728 Cr1,063 Cr1,008 Cr1,130 Cr1,743 Cr
Fixed assets (net)155 Cr166 Cr195 Cr290 Cr340 Cr436 Cr497 Cr
CWIP12 Cr11 Cr44 Cr64 Cr73 Cr53 Cr34 Cr
Investments0.01 Cr0.01 Cr62 Cr27 Cr0.01 Cr0.01 Cr215 Cr
Inventories75 Cr103 Cr170 Cr387 Cr348 Cr346 Cr501 Cr
Trade receivables62 Cr77 Cr136 Cr208 Cr147 Cr210 Cr337 Cr
Cash & bank14 Cr180 Cr60 Cr12 Cr39 Cr2 Cr1.00 Cr
Other assets29 Cr50 Cr60 Cr74 Cr61 Cr83 Cr158 Cr
Total assets346 Cr586 Cr728 Cr1,063 Cr1,008 Cr1,130 Cr1,743 Cr

Cash flows

Annual · ₹ Cr · tap + rows to expand · last column includes FCF

MetricMar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from operating activity56 Cr9 Cr-30 Cr7 Cr57 Cr101 Cr197 Cr
Cash from investing-12 Cr-22 Cr-145 Cr-87 Cr-56 Cr-103 Cr-353 Cr
Cash from financing-41 Cr180 Cr54 Cr32 Cr25 Cr-36 Cr155 Cr
Net cash flow3 Cr167 Cr-121 Cr-47 Cr27 Cr-37 Cr-0.94 Cr
Free cash flow (OCF − Capex)44 Cr-14 Cr-121 Cr-101 Cr-37 Cr0.94 Cr63 Cr

Ratios

MetricMar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
ROCE %19.8%14.7%14.4%20.3%11.2%10.3%13.0%
ROE %13.9%9.7%11.7%16.7%8.3%7.3%11.4%
Debtor days10511415413292113140
Inventory days316367394446399360362
Days payable12812413225282111108
Cash conversion cycle293357416326409363393
OCF / EBITDA %97.0%10.4%-31.6%4.8%50.9%83.8%115.0%
OCF / EBITDA % (3 years)——14.9%-4.2%9.7%42.9%87.8%
Debt / equity0.130.030.180.230.280.240.45
Current ratio1.514.462.802.042.722.131.55
Net debt / EBITDA0.27-2.030.380.851.351.452.15