Mtar Tech bags order worth Rs135 crore in Civil Nuclear Power Sector

23 Mar 2022 , 03:34 PM

MTAR Technologies has informed the investors and exchanges that the company has been declared L1 bidder for tenders floated by NPCIL for Fuel Transfer System of GHAVP 1 & 2 reactors and FM Bridge & Carriage assemblies of Kaiga 5 & 6/GHAVP 3 & 4 nuclear reactors.

The total value of the order is approximately Rs135 crore and the purchase orders for the same are expected to be received in Q1FY23.

“While we have witnessed sustained order inflows from Clean Energy in FY22; the order inflows from Domestic sector have paced up as we come out of COVID-19 pandemic impact. Significant tenders will be floated in FY23. Fuel Transfer System assembly for which we have been declared L1 shall be a new product for MTAR. The company has been focusing on enhancing its existing product portfolio and customer base by increasing its wallet share with the existing customers and by adding new customers and new products in diverse sectors,” commented Mr. Parvat Srinivas Reddy, Managing Director & Promoter, MTAR Technologies.

MTAR has seven strategically based manufacturing units including an export-oriented unit each based in Hyderabad, Telangana.

MTAR ended at Rs1,961.20, down by 0.84% against its previous close of Rs1977.70. It touched intraday high and low of Rs2022.90 and Rs1,949.55 respectively.