Just joined the thread but it is interesting. Till date, there are misses from management, still I find earning call information which can give insights in to future outlook. All contents are cut paste from concall.
In FY '26, we look forward to a 25% growth in revenues on a conservative note, with 21% EBITDA margins plus/minus 100 basis points. We anticipate a sequential improvement in EBITDA margins in FY '26 due to operating leverage and scale-up in production of new products developed over the past couple of years.
We have secured orders worth Rs. 720 crores in FY '25, for which Rs. 178
crores are from aerospace and defense which is a substantial improvement in this area and Rs. 349 crores of orders are from clean energy underlying our technological leadership in these sectors.
The Aerospace and Defense sector has witnessed significant progress in several key projects to ISRO, DRDO and MNC Aerospace including the successful delivery of ammunition boxes, engine components for various customers including Thales, GKN, Elbit Systems.
We have registered revenues of around Rs. 19 crores in Civil Nuclear sector in FY '25 as against Rs. 157 crores of closing orders. We are in advanced stage of executing nuclear orders currently and look forward to deliver around Rs. 60 crores of orders in this sector in FY '26. Kaiga 5 & 6 reactors orders have been placed on the private entity and we are expecting the orders soon.
we are pre-qualified vendor for NPCIL. We started receiving tenders for refurbishment of reactors. In addition, we have also started working on budgetary quotes for 220 megawatts Bharat Modular Reactors. We recorded Rs. 148 crores revenue in products and other verticals, and we expect a 20% growth in this segment as well.
You can get more insight from Q&A…Of course, look at Q1/26 performance as previously it has failed to deliver. However, recent price movement indicate optimism.
This is the summary of recent order wins of the MTAR. On rough math, they can do 800 Cr from the published orders in FY26 and 500 Cr in H2FY26.
This H2 500 Cr could be reason for rally in the last 50 days, could have done these calculation before hand to add some more Qty after 10.09.25 order win.
FY27 also they have around 310 Cr orders in hand, in which blooms contribution is only 60 Cr, I think bloom will add 500 Cr in FY27–> ~800 Cr order book excluding any upcoming orders from other entities.
Precision engineering and innovation is getting the attention it deserves.
Very happy to see this. And whether it’s rockets, nuclear plant components, or the (much delayed) progress in electrolysers, MTAR is doing the right things for long term success.
I feel there will be some cool off in valuations even though there is a good visibility in clean energy, nuclear sector. Now all brokers raise the target and retailers again will stuck at higher valuations
In Bloom energy concall they are guiding of 1GW to 2GW capacity expansion and the MTAR management was retreating of 2GW to 4GW expansion for the bloom energy capacity,some discrepancy is their. Also the new chiller absorption will lower the power cost of data center by 20% so whether this shift will require the deployment of new or redesigned hot-box fuel-cell systems, or if the existing architecture can be adapted with incremental thermal-integration modifications.
Bloom energy said that they would do 1 GW to 2 GW by end of 2026. MTAR also said the same expect that Bloom will scale from 2 to 4 GW with time. It is obvious that Bloom will not stop at 2 GW so very much possible.
