What was MTAR Technologies's revenue in Q4 FY26?

MTAR Technologies reported revenue of ₹306 Cr in Q4 FY26, a +29.6% change year-over-year.

Did MTAR Technologies management deliver on previous promises?

Scorecard data is being built as historical quarters are processed.

MTAR Technologies Q4 FY26 Research Workspace: Revenue ₹306 Cr (+29.6%)

Q: What guidance did MTAR Technologies management give?

FY27 revenue growth guidance of 80% ±5%: Management raised guidance from 50% to 80%+ revenue growth for FY27, driven by capacity expansions and strong order book.

Revenue ₹306 Cr +29.6%

EBITDA ₹171 Cr +41.7%

PAT ₹44 Cr +76.2%

EBITDA Margin 20% -150bps

Duration 63 min

Read Time 1 min read

✓ Verified against BSE filing

2-Minute Summary

✦ AI-Generated from Full Transcript

MTAR delivered a record Q4 with revenue of ₹306 crore and PAT of ₹44 crore, driving FY26 revenue to ₹876 crore (+30% YoY) and PAT to ₹94 crore (+76% YoY). The standout was a sharp guidance upgrade to 80%+ revenue growth for FY27, underpinned by a ₹2,580 crore order book and multi-fold capacity expansions in clean energy, nuclear, and oil & gas. Management cited strong customer visibility, new AI data center orders (₹35 crore first article, potential ₹400-500 crore over 2 years), and nuclear order inflows as key drivers. EBITDA margin contracted 150bps to 19.5% due to input cost inflation and first-article costs, but management expects 24% margins in FY27 from operating leverage. Risk: Execution on the aggressive 80% growth target amid geopolitical uncertainty and input cost volatility.

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Risk Intelligence

Geopolitical uncertainty and input cost inflation

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Quarter Snapshot

Order Book (FY26 close) ₹2,580 crore

+8% YoY

Closing order book slightly below guidance of ₹2,800 crore due to deferred nuclear/defense orders.

Order Book Target (FY27 close) ₹5,000 crore

+94% YoE

Management expects order book to nearly double by end of FY27 driven by clean energy and nuclear.

Working Capital Days 172 days

-106 days QoQ

Improved from 278 days in Q3 FY26 due to better payment terms and collections.

Operating Cash Flow ₹196.9 crore

+3% YoY

Strong cash generation despite growth; management expects to sustain similar levels.

Fast read

Guidance and risk preview

Top guidance FY27 revenue growth guidance of 80% ±5%

Management raised guidance from 50% to 80%+ revenue growth for FY27, driven by capacity expansions and strong order book.

Top risk Geopolitical uncertainty and input cost inflation

Management cited geopolitical tensions and rising input costs as reasons for gross margin pressure in FY26, which could persist.