MTAR Tech reports PAT of Rs13.3 crore with 50.5% yoy increase in Q3FY22

11 Feb 2022 , 09:17 AM

MTAR Technologies Ltd has announced its financial results for the third quarter ended on December 31, 2021.

yoy Q3FY22 Vs Q3FY21

• Revenue from Operations stood at Rs78.1 crore as against Rs55.2 crore in Q3FY21, 41.4 % increase yoy
• EBITDA reported at Rs 22.8 crore in Q3FY22 as compared to Rs17.5 crore in Q3FY21, 30.3% increase yoy
• Profit Before Tax stands at Rs 18.7 crore as against Rs12.4 crore in Q3FY21, 50.9% increase yoy
• Profit After Tax reported was at Rs13.3 crore as against Rs8.8 crore in Q3FY21, 50.5% increase yoy
• Diluted EPS stands at Rs4.3 per share for Q3FY22 as against Rs3.3 per share for Q3FY21

YTD FY22 Vs YTD FY21

• Revenue from Operations for YTD FY22 stood at Rs223.4 crore as against Rs177.3 crore for YTD FY21, 26.0% increase YTD yoy
• EBITDA for YTDFY22 reported at Rs 66.7 crore as compared to Rs53.0 crore for YTDFY21, 25.8% increase YTD yoy
• Profit Before Tax for YTDFY22 stands at Rs 58.4 crore as against in 39.6 for YTDFY21, 47.5% increase YTD yoy
• Profit After Tax for YTDFY22 was at Rs41.1 crore as against Rs28.1 crore for YTDFY21, 46.3% increase yoy
• Diluted EPS for YTDFY22 stands at Rs13.4 per share as against Rs10.5 per share for YTDFY21

Operational Highlights

• Revenue from Exports increased by Rs31.0 crores in Q3FY22 in comparison with Q3FY21, an increase of 151.1%. YTDFY22 Revenue from Exports increased by Rs51.4 Cr in comparison with YTDFY21, an increase of 61.4%
• Order book as on 7 Feb 2022 stands at Rs599.6 crores as per our expectations
• Received new orders for roller screws and electro-mechanical actuators; products that are currently under development
• Declared interim dividend of Rs3/- per share
• Received an upgrade in credit ratings from A- (Positive) to A (Stable) from ICRA

Commenting on the results, Parvat Srinivas Reddy, Managing Director & Promoter, MTAR Technologies, said, “MTAR has clocked a revenue of Rs78.1 crores with an yoy growth of 41.4%. We have posted an EBITDA of Rs22.8 crores with yoy growth of 30.3% and a net profit of Rs13.3 crores with yoy growth of 50.5%. Domestic order inflows from Civil Nuclear Power, Space & defence sectors are expected to be fast-tracked over the coming quarteRs

Union budget 2022 aligns with Government’s commitment to promote Atmanirbhar Bharat initiative and indigenisation, which positions Indian manufacturing sector to grow at a rapid pace. Amidst a conducive macro-economic environment backed by a robust order book, we are confident of witnessing an accelerated growth over the coming quarters.”

At around 9:17 AM, MTAR Tech was trading at Rs2014.65 per piece down by 2.46% on the BSE.