News ArticleMTAR Technologies Registers INR 406.8 Crores Revenue and 24.4% EBITDA Margin in Q2 FY27, Projects Strong Civil Nuclear and Clean Energy Growth
Company’s order book hits INR 820 crores with expected capacity expansions in fuel cells and aerospace to support FY27 and beyond growth
MTAR Technologies announced Q2 FY27 results with a revenue of INR 406.8 crores and EBITDA margin of 24.4%, driven by significant growth in civil nuclear and fuel cell sectors. The company detailed expansion plans and strong order book of INR 820 crores, signaling robust prospects in clean energy, aerospace, and defense over FY27 and beyond.
MTAR Technologies Limited
Earnings Call Transcript
MTAR Technologies Limited reported a revenue of INR 406.8 crores and an EBITDA margin of 24.4% for Q2 FY27, marking substantial EBITDA growth of 483.3% year-on-year. The company highlighted a closing order book of INR 820 crores and ongoing capacity expansions in clean energy and aerospace sectors supporting future growth.
The company underscored strong growth prospects in the civil nuclear sector, driven by India's government target of 100 gigawatts nuclear power capacity by 2047, with active orders from Kaiga, Gorakhpur, and refurbishment programs. MTAR is also bidding for future fast breeder reactor tenders and private sector nuclear reactors at Mahi Banswara.
Clean energy remains a key focus, with the fuel cells Phase 2 capacity expansion nearing completion by November 2026 and Phase 3 expected by June 2028, designed to include multiple products to enhance operational efficiency. Automation and skilled workforce integration initiatives are underway to support ramp-up.
In aerospace and defense, MTAR continues rapid revenue growth, particularly from its multinational aerospace business. Volume deliveries under long-term agreements are set to begin next fiscal year after completion of key product qualifications. The company anticipates revenues exceeding INR 150 crores from this segment in FY27, backed by expanded dedicated manufacturing and NADCAP-approved facilities.
Highlights
- Q2 FY27 revenue stood at INR 406.8 crores, with a 24.4% EBITDA margin and 483.3% EBITDA growth YoY.
- Closing order book of INR 820 crores, including civil nuclear contracts from Kaiga and Gorakhpur.
- Fuel cells Phase 2 capacity expansion operational by November 2026; Phase 3 completion expected by June 2028.
- Civil nuclear segment poised for significant revenue ramp-up from FY28 onward.
- Aerospace segment expected to generate over INR 150 crores revenue in FY27 with volume deliveries starting next fiscal year.
Key Data Snapshot
What happened
- MTAR Technologies announced Q2 FY27 financial results with INR 406.8 crores revenue and EBITDA margin of 24.4%.
- EBITDA grew by 483.3% year-on-year reflecting record quarterly performance.
- The company reported a closing order book of INR 820 crores, supported by civil nuclear and refurbishment orders.
Key details
- Strong order inflows from Kaiga and Gorakhpur nuclear plants and refurbishment projects.
- Active bidding for fast breeder reactor programs and private sector nuclear reactors at Mahi Banswara.
- Fuel cells Phase 2 expansion facility expected operational by end-November 2026 and Phase 3 completion by June 2028.
- New dedicated fuel cells manufacturing facility will enable multi-product operations and scale.
- Aerospace business growing with volume deliveries to start next fiscal year after qualification completion.
- Multiple dedicated aerospace units and NADCAP-approved special process facility support capacity ramp-up.
Strategic context
- Company strategically focuses on clean energy, civil nuclear, aerospace and defense, and new verticals like data center infrastructure and oil & gas.
- India's objective to reach 100 GW nuclear capacity by 2047 presents a key growth opportunity.
- Investment in specialized manufacturing capabilities and early presence in high-growth sectors underpin long-term strategy.
Next milestones
- Ramp-up of civil nuclear order execution expected in second half of FY27, with significant revenue growth from FY28 onwards.
- Fuel cells Phase 2 expansion to be operational by November 2026; Phase 3 expansion to complete by June 2028.
- Qualification completion of key aerospace product articles and commencement of volume deliveries next fiscal year.
Highlights
- Q2 FY27 revenue stood at INR 406.8 crores, with a 24.4% EBITDA margin and 483.3% EBITDA growth YoY.
- Closing order book of INR 820 crores, including civil nuclear contracts from Kaiga and Gorakhpur.
- Fuel cells Phase 2 capacity expansion operational by November 2026; Phase 3 completion expected by June 2028.
- Civil nuclear segment poised for significant revenue ramp-up from FY28 onward.
- Aerospace segment expected to generate over INR 150 crores revenue in FY27 with volume deliveries starting next fiscal year.
Disclosures
- SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
Source Information
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