MTAR Tech receives L1 bidder tag for civil nuclear power sector projects

23 Mar 2022 , 02:43 PM

The scope of the project involves fuel transfer system of GHAVP 1 & 2 reactors and FM bridge & carriage assemblies of Kaiga 5 & 6/GHAVP3 & 4 nuclear reactors. The combined value of orders is approximately Rs 135 crore and purchase orders for the same are expected in Q1 FY23.

Parvat Srinivas Reddy, MD & promoter of MTAR Technologies said, While we have witnessed sustained order inflows from clean energy in FY22, the order inflows from domestic sector have picked up as we come out of the COVID-19 pandemic impact. Significant tenders for fleet reactors are expected to be floated in FY 23. Fuel Transfer System assembly for which we have been declared L1 shall be a new product for MTAR. The company has been emphasizing 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

MTAR Technologies is a niche manufacturing service provider in precision engineering and critical assembly of key components and products for various customer segments such as Civil Nuclear Energy, Space, Defence and Aerospace, Clean Energy and others.

On a consolidated basis, the companys net profit jumped 50.4% to Rs 13.31 crore on a 41.4% increase in net sales to Rs 78.1 crore in Q3 FY22 over Q3 FY21.

Shares of MTAR Tech were trading 0.60 % lower at Rs 1965.85.on BSE

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