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What is the story about?
Shares of MTAR Technologies hit the 5% upper circuit on Thursday, July 30, after the company reported a strong June quarter performance and said its order book had already exceeded its FY27 target.
The stock was locked at the day's upper circuit of ₹5,453.50.
MTAR Technologies reported a 348% year-on-year jump in June-quarter net profit to ₹50.2 crore , while revenue more than doubled to ₹360 crore.
Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA) surged 199% to ₹85 crore, with EBITDA margin expanding 541 basis points to 23.6%. The company beat estimates across revenue, operating profit, margins and net profit, aided by strong execution across business verticals.
The biggest positive for investors, however, was the company's order book, which stood at ₹5,143.3 crore at the end of the June quarter, surpassing the ₹5,000 crore closing order book target it had set for the end of FY27.
MTAR Tech also disclosed that it had received an amended purchase order worth $324.62 million (around ₹3,100 crore) from an existing customer. The revised order includes an incremental order value of $85.86 million (around ₹820 crore).
Despite achieving its order book target within the first quarter, the company retained its FY27 guidance of 80% revenue growth and an EBITDA margin of 24%. It said the June quarter performance was in line with its outlook and that all key business verticals are at an inflexion point for the next phase of growth.
At the end of FY26, MTAR Tech had raised its FY27 revenue growth guidance from 50% to 80%, while also projecting an FY27 closing order book of ₹5,000 crore. The company had ended FY26 with an order book of ₹2,581.9 crore.
The June quarter performance also came a day after key customer Bloom Energy reported better-than-expected quarterly earnings and raised its full-year revenue guidance for the second consecutive quarter.
Bloom Energy contributes 55% to 60% of MTAR Tech's revenue, with the Indian company supplying critical components for its fuel-cell systems.
Bloom Energy reported earnings per share of $0.62, more than double analysts' estimate of $0.28, and raised its full-year revenue guidance to $3.9 billion-$4.2 billion from $3.4 billion-$3.8 billion earlier. The company said demand for its fuel-cell systems continues to be driven by data centre customers.
Before Thursday's upmove, MTAR Tech shares had fallen over 30% in July, marking their worst monthly performance since listing in 2021. The stock had ended Wednesday's session at ₹5,194, after remaining under the Stage IV Long-Term Additional Surveillance Measures (ASM) framework, which caps daily price movement at 5%.
The stock was locked at the day's upper circuit of ₹5,453.50.
MTAR Technologies reported a 348% year-on-year jump in June-quarter net profit to ₹50.2 crore , while revenue more than doubled to ₹360 crore.
Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA) surged 199% to ₹85 crore, with EBITDA margin expanding 541 basis points to 23.6%. The company beat estimates across revenue, operating profit, margins and net profit, aided by strong execution across business verticals.
The biggest positive for investors, however, was the company's order book, which stood at ₹5,143.3 crore at the end of the June quarter, surpassing the ₹5,000 crore closing order book target it had set for the end of FY27.
MTAR Tech also disclosed that it had received an amended purchase order worth $324.62 million (around ₹3,100 crore) from an existing customer. The revised order includes an incremental order value of $85.86 million (around ₹820 crore).
Despite achieving its order book target within the first quarter, the company retained its FY27 guidance of 80% revenue growth and an EBITDA margin of 24%. It said the June quarter performance was in line with its outlook and that all key business verticals are at an inflexion point for the next phase of growth.
At the end of FY26, MTAR Tech had raised its FY27 revenue growth guidance from 50% to 80%, while also projecting an FY27 closing order book of ₹5,000 crore. The company had ended FY26 with an order book of ₹2,581.9 crore.
The June quarter performance also came a day after key customer Bloom Energy reported better-than-expected quarterly earnings and raised its full-year revenue guidance for the second consecutive quarter.
Bloom Energy contributes 55% to 60% of MTAR Tech's revenue, with the Indian company supplying critical components for its fuel-cell systems.
Bloom Energy reported earnings per share of $0.62, more than double analysts' estimate of $0.28, and raised its full-year revenue guidance to $3.9 billion-$4.2 billion from $3.4 billion-$3.8 billion earlier. The company said demand for its fuel-cell systems continues to be driven by data centre customers.
Before Thursday's upmove, MTAR Tech shares had fallen over 30% in July, marking their worst monthly performance since listing in 2021. The stock had ended Wednesday's session at ₹5,194, after remaining under the Stage IV Long-Term Additional Surveillance Measures (ASM) framework, which caps daily price movement at 5%.
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