Rs 894.22 Crore Order Book: Defence & Space company receives Rs 15,40,00,000 order from Defence Research & Development Laboratory
With a strong presence in Hyderabad, the company boasts a market capitalization of over Rs 5,300 crore and a substantial order book of Rs 894.22 crore as of June 30, 2024.
MTAR Technologies Limited has secured a significant contract valued at Rs 15.4 crore from the Defence Research & Development Laboratory (DRDL) to supply full-scale combustors for the development of a next-generation engine for defence programs. This order aligns with MTAR's ongoing commitment to providing critical components for advanced aerospace and defence applications. The company is expected to deliver the combustors by September 2025, showcasing its expertise in manufacturing high-precision components for critical engine systems. This contract further solidifies MTAR's position as a leading supplier of components for the defence sector and reinforces its capabilities in supporting the development of cutting-edge technologies for national security.
About the Company
MTAR Technologies Ltd is a prominent Indian engineering company specializing in the development and manufacturing of components and equipment for the defence, aerospace, nuclear and clean energy sectors. Founded in 1970, MTAR has been catering to the technical and engineering needs of the Indian government for several decades. With a strong presence in Hyderabad, the company boasts a market capitalization of over Rs 5,300 crore and a substantial order book of Rs 894.22 crore as of June 30, 2024. MTAR has demonstrated a steady growth trajectory, with a median sales growth of 16.4 per cent over the past 10 years.
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Looking ahead, MTAR is optimistic about its future prospects. The company has projected a revenue growth of 30-35 per cent for the fiscal year ending in 2025. To mitigate risks, MTAR is actively diversifying its customer base and has secured long-term agreements with multinational companies in the aviation sector. Furthermore, the company is committed to enhancing its EBITDA margins through effective cost management strategies. With a strong focus on its core competencies and a promising outlook, MTAR is well-positioned to continue its success in the engineering and manufacturing industries.
Disclaimer: The article is for informational purposes only and not investment advice.