Stock Report

MTAR clocks a revenue of Rs. 580.8 Cr in FY 24

Posted On : 2024-05-29 14:53:24( TIMEZONE : IST )

MTAR Technologies Ltd ("MTAR"), a leading manufacturer engaged in 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 audited financial results for the fourth quarter and fiscal year ended March 31, 2024.

QoQ Q4 FY 24 vs. Q3 FY 24

- Revenue from Operations stood at Rs. 143.0 Cr. in Q4 FY 24 as against Rs. 118.4 Cr. in Q3 FY 24, 20.8% increase QoQ

- EBITDA reported at Rs. 18.2 Cr. in Q4 FY 24 as compared to Rs. 23.9 Cr. in Q3 FY 24, 23.6% decrease QoQ

- Profit Before Tax stands at Rs. 7.2 Cr. in Q4 FY 24 as against Rs. 12.9 Cr. In Q3 FY 24, 44.2% decrease QoQ

- Profit After Tax was at Rs. 4.9 Cr in Q4 FY 24 as against Rs. 10.4 Cr. in Q3 FY 24, 53.4% decrease QoQ

FY 24 vs. FY 23

- Revenue from Operations stood at Rs.580.8 Cr. in FY 24 as against Rs.573.8 Cr. in FY 23, 1.2% increase YoY

- EBITDA reported at Rs. 112.7 Cr. in FY 24 as compared to Rs. 154.0 Cr. in FY 23, 26.8% decrease YoY

- Profit Before Tax stands at Rs. 73.0 Cr. in FY 24 as against Rs. 140.2 Cr. In FY 23, 47.9% decrease YoY

- Profit After Tax was at Rs. 56.1 Cr in FY 24 as against Rs. 103.4 Cr. in FY 23, 45.7% decrease YoY

Commenting on the results, Mr. Parvat Srinivas Reddy, Managing Director & Promoter, MTAR Technologies, said, "We have registered a lower-than-estimated EBITDA in FY 24 as the operating leverage was lower due to deferment of orders in Clean Energy segment and delay in execution of projects in Space vertical. The company has improved its net cash flow from operating activities in FY 24 to Rs. 57.4 Crs compared to Rs. 7.4 Crs in FY 23. We are targeting to achieve 30% - 35% YoY increase in revenues with an EBITDA of 22% +/-100 bps in FY 25. Significant orders are expected shortly as we have concluded discussions with some of the major MNCs in Aerospace."

Shares of Mtar Technologies Limited was last trading in BSE at Rs. 2121.30 as compared to the previous close of Rs. 2147.70. The total number of shares traded during the day was 10487 in over 1448 trades.

The stock hit an intraday high of Rs. 2184.20 and intraday low of 2111.60. The net turnover during the day was Rs. 22400647.00.