Rs 1,078.8 crore order book: This multibagger aerospace & defense company reports impressive quarterly results; stock gains over 130 per cent!

Shares of the company gained more than 25 per cent in the last six months.

MTAR Technologies Limited has reported results for the first quarter ended June 30, 2023 (Q1FY24). The company posted strong Quarterly Results. The revenue of the company stood at Rs 152.56 crore which grew by 67.64 per cent YoY. The operating profit of the company stood at Rs 38.62 crore, while the PAT of the company stood at Rs 20.34 crore, representing an impressive growth of 25.41 per cent YoY.

MTAR is expected to benefit from the Indian space policy, which aims to institutionalize private sector participation in the space sector, by designing and developing its own launch vehicle in the small satellite launch vehicle segment.

MTAR is also a supplier of the liquid propulsion engines and various other modules that are used in PSLV launch vehicles, which have been given to private companies like L&T and HAL in the consortium.

MTAR Technologies was established in 1970, it is in the business of manufacturing various machine equipment, assemblies, sub-assemblies, and spare parts for energy, nuclear, space, aerospace, defense, and other engineering industries.

The shares of the company have delivered multibagger returns of over 130 per cent in the last three years. And in the last six months, the stock has gained about 27 per cent.

Investors should keep a close eye on this stock.

Disclaimer: The article is for informational purposes only and not investment advice.