MTAR Secures Major Export Order of ₹140 Crore in Clean Energy

MTAR Technologies, one of the leading manufacturers of equipment for the defence, aerospace, nuclear, and clean energy sectors, has announced a significant export order from Bloom Energy Corporation valued at USD 16.73 million (approximately ₹140 crore).

The order concerns the supply of power units and associated components for the clean energy fuel cells vertical. The company is slated to execute USD 9.10 million worth of orders in the current fiscal year (FY 2024-25) and the remaining in the first quarter of the next fiscal year.

MTAR anticipates securing additional orders in this promising segment within FY 2024-25. This order win is expected to contribute substantially to the company’s overall revenue targets for the fiscal year.

During FY2024, the company recorded a lower-than-estimated EBITDA as the operating leverage was lower due to the deferment of orders in the Clean Energy segment and delay in executing projects in the Space vertical. The company has improved its net cash flow from operating activities in FY 24 to ₹ 57.4 crore compared to ₹7.4 crore in FY 23. The company aims to achieve a 30% – 35% YoY increase in revenues with an EBITDA of 22% +/-100 bps in FY 25. Significant orders are expected shortly as it has concluded discussions with some of the major MNCs in Aerospace.

About MTAR Technologies Ltd

MTAR develops and manufactures components and equipment for the defence, aerospace, nuclear and clean energy sectors. The company operates 7 strategically based manufacturing units, including an export-oriented unit, each based in Hyderabad, Telangana. MTAR caters to Clean Energy – Civil Nuclear Power, Fuel cells, Hydel & others, Space and Defence sectors. The company has a long-standing relationship of over four decades with leading Indian organisations and global OEMs.

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