MTAR Tech inks long-term pact with Weatherford Products

19 Jun 2025 , 01:38 PM

MTAR Technologies informed the bourses that it has entered into a 10-year long-term agreement with Weatherford Products GMBH. The company plans to execute Whipstock assemblies and other crucial products.

The company expects to execute about ₹10 Crore in FY26, and approximately ₹90 Crore on a year-on-year basis, beginning FY27. The company said that it is planning to execute these orders in its new facility at Adibatla. This unit shall commence operations by June 2026.

This milestone represents the company’s commitment for expansion of its product base and expanding its product portfolio across various sectors. It is in discussions with several other customers to enter into long-term collaborations for diverse products that shall fasten company’s growth momentum.

The company said that for FY25, its revenue registered a growth of 16.40% against previous year to ₹676 Crore. This was lower than the company’s guidance of ₹725 Crore.

The business posted an EBITDA growth of 7.20% against last year to ₹120.90 Crore. On the other hand, margins slipped 150 basis points from 19.40% to 17.90%. 

MTAR said that it is expecting a sequential improvement in its margins in following quarters as production of the first articles (prototype) order grows.

At around 1.33 PM, MTAR Technologies was trading 1.91% lower at ₹1,660.50 per piece, against the previous close of ₹1,692.90 on NSE. The counter touched an intraday high and low of ₹1,708.90, and ₹1,651, respectively.

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