MTAR Technologies clocks PAT of Rs. 16.2 Cr. in Q1 FY 23 with 86.2 % YOY increase

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Hyderabad, Aug 09, 2022MTAR Technologies Ltd (“MTAR”), a leading precision engineering solutions company engaged in manufacturing and development of mission critical precision components with close tolerances and critical assemblies catering to nuclear, space, defense and clean energy sectors has announced its financial results for the first quarter ended 30 June, 2022.

YOY Q1 FY 23 vs. Q1 FY 22

·         Revenue from Operations stood at Rs. 91.0 Cr. in Q1 FY 23  as against Rs. 54.0 Cr. in Q1 FY 22, 68.4% increase YoY

·         EBITDA reported at Rs. 25.0 Cr. in Q1 FY 23  as compared to Rs. 14.5 Cr. in Q1 FY 22, 72.5% increase YoY

·         Profit Before Tax stands at Rs. 22.2 Cr. in Q1 FY 23  as against Rs. 12.6 Cr. in Q1 FY 22, 77.0 % increase YoY

·         Profit After Tax was at Rs. 16.2 Cr. in Q1 FY 23  as against Rs. 8.7 Cr. in Q1 FY 22, 86.2 % increase YoY

·         Diluted EPS stands at Rs. 5.3 for Q1 FY 23 as against Rs. 2.8 for Q1 FY 22.

·         Operating cashflows was at Rs 16.2 Cr. In Q1 FY 23 as against Rs (6.9) Cr.in Q1 FY 22

Operational Highlights

·         Order book as on 30 June 2022 stands at Rs. 765.6 Cr

·         Working capital days reduced to 249 days (as at June 22) from 275 days (as at March 22)

·         Initiated working on new products including ceramic assemblies and heaters in Q1 FY 23

·         Executed first artciles of  Roller Screws

Commenting on the results, Mr. Parvat Srinivas Reddy, Managing Director & Promoter, MTAR Technologies, said, “ The company has received substantial orders in the Clean Energy segment in Q1 FY 23. We are anticipating a accelerated order inflow over the next three quarters. We are working towards building a strong order book, enhancing our customer base and augument our capabilities to address the growing market in Clean Energy, Civil Nuclear power, Space and Defence sectors”

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