MTAR Technologies LimitedQuarter ended 30-Sep-2026 Results & Financial Update
MTAR Technologies Limited: Quarter ended 30-Sep-2026 standalone results and company financials – revenue ₹406.77 Cr, PAT ₹59.83 Cr. Explore reported YoY/QoQ movements, margins, business drivers and management commentary. This page does not provide a rating, target price or investment recommendation.
Quarter at a glanceReported figures and period changes.Changes compare like-for-like reported periods where available.
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Quarterly Results AnalysisExplore MTAR Technologies Quarter ended 30-Sep-2026 quarterly results and earnings: revenue, profit (PAT), EBITDA, margins, YoY and QoQ growth, order book or business updates where reported, financial performance and management commentary. Reported figures and Nivata calculations are shown separately; no buy, sell or hold recommendation is provided.
Quarter overview
Quarterly earnings analysis
MTAR Technologies recorded revenue from operations of INR 406.765 crore for the quarter ended September 30, 2026, marking a substantial expansion compared to INR 135.593 crore in the corresponding period of the previous year and INR 360.721 crore in the preceding quarter.
Total income for the quarter stood at INR 415.28 crore, incorporating other income of INR 8.515 crore, compared to INR 139.273 crore in the year-ago period and INR 368.608 crore in the June 2026 quarter.
Profit before tax (PBT) reached INR 80.279 crore for the September 2026 quarter, compared to INR 5.675 crore in the corresponding quarter of the previous financial year and INR 67.402 crore in the previous quarter.
Net profit after tax (PAT) for the quarter was reported at INR 59.832 crore, reflecting a sharp increase from INR 4.245 crore in the same period last year and INR 50.227 crore in the quarter ended June 30, 2026.
Basic and diluted earnings per share (EPS) stood at INR 19.45 for the quarter, compared to INR 1.38 in the corresponding quarter of FY26 and INR 16.33 in the preceding quarter.
Total expenses for the quarter rose to INR 335.001 crore, driven by cost of materials consumed of INR 228.308 crore, employee benefit expenses of INR 49.702 crore, finance costs of INR 16.242 crore, and depreciation and amortisation expenses of INR 11.149 crore.
The financial statements reflect the amalgamation of Gee Pee Aerospace and Defence Private Limited and Magnatar Aero Systems Private Limited, with prior period figures restated under the pooling of interests method pursuant to Ind AS 103.
01 · Business model
What does MTAR Technologies do?
MTAR Technologies Limited is a precision engineering company based in Hyderabad, Telangana, specializing in the manufacture of mission-critical components, equipment, and sub-systems for sectors such as clean energy, nuclear and space, and defense.
The company operates through specialized manufacturing facilities equipped with advanced machining capabilities, catering to high-complexity requirements for domestic and international original equipment manufacturers.
Subsequent to the period end on October 28, 2026, the National Company Law Tribunal (NCLT) approved the amalgamation of wholly owned subsidiaries Gee Pee Aerospace and Defence Private Limited and Magnatar Aero Systems Private Limited with the company with effect from April 1, 2025.
Following the amalgamation, the company prepares standalone financial results under the pooling of interests method for common control transactions, restating past periods in accordance with Ind AS 103.
02 · Historical context
What shaped the business before this quarter
On October 28, 2026, the NCLT Hyderabad Bench-II approved the amalgamation of wholly owned subsidiaries Gee Pee Aerospace and Defence Private Limited and Magnatar Aero Systems Private Limited with MTAR Technologies with effect from April 1, 2025.
The company accounted for the amalgamation under the pooling of interests method in accordance with Appendix C to Ind AS 103 and restated past periods, noting that the restatement impact was not material.
03 · Financial snapshot
Current quarter vs the two useful baselines
| Metric | Quarter ended 30-Sep-2026 | Year-ago | Previous quarter |
|---|---|---|---|
| Revenue from operations | ₹406.77 Cr | ₹135.59 Cr | ₹360.72 Cr |
| Total income | ₹415.28 Cr | ₹139.27 Cr | ₹368.61 Cr |
| Profit before tax | ₹80.28 Cr | ₹5.68 Cr | ₹67.40 Cr |
| Profit after tax | ₹59.83 Cr | ₹4.25 Cr | ₹50.23 Cr |
| EPS | ₹19.45 | ₹1.38 | ₹16.33 |
04 · Why it moved
Why the quarter looked the way it did
What drove revenue
Sale of products contributed INR 401.686 crore to the quarterly revenue, up from INR 134.364 crore in Q2 FY25 and INR 355.892 crore in Q1 FY27.
Other operating revenue added INR 5.079 crore during the quarter, compared to INR 1.229 crore in the corresponding quarter of the previous year.
Other income contributed INR 8.515 crore to total income for the quarter ended September 30, 2026.
What drove margins
Cost of materials consumed was INR 228.308 crore, offset by a positive change in inventory of work-in-progress amounting to INR 11.873 crore.
Employee benefit expenses stood at INR 49.702 crore for the quarter, reflecting workforce costs supporting manufacturing operations.
Finance costs were reported at INR 16.242 crore, while depreciation and amortisation expenses accounted for INR 11.149 crore.
05 · Segments, products & geography
Which parts of the business are doing the work
Segments and products
The company's business activity falls within a single operating segment in terms of Ind AS 108 'Operating Segments'.
06 · Capacity, projects & execution
What is being built, commissioned or delivered
Projects, capex and execution
Property, plant and equipment stood at INR 637.808 crore and capital work-in-progress was INR 112.930 crore as of September 30, 2026.
07 · Reported developments
What changed operationally
Net profit for the quarter rose significantly to INR 59.832 crore compared to INR 4.245 crore in the corresponding quarter of the previous year.
08 · Cash flow & balance sheet
Profit is one thing. Cash and funding tell another part of the story.
Net cash generated from operating activities for the half year ended September 30, 2026, was INR 349.972 crore.
Net cash used in investing activities for the half year ended September 30, 2026, was INR 407.323 crore, driven by purchases of property, plant, equipment, and mutual fund investments.
Net cash generated from financing activities for the half year ended September 30, 2026, was INR 56.642 crore.
Trade receivables were recorded at INR 285.847 crore as of September 30, 2026.
Capital allocation & funding
Non-current borrowings stood at INR 147.801 crore and current borrowings were INR 318.528 crore as of September 30, 2026.
09 · Beyond the numbers
What changed beyond the numbers
Reported update
Subsidiary Amalgamation Approval
The NCLT Hyderabad Bench-II approved the amalgamation of Gee Pee Aerospace and Defence Private Limited and Magnatar Aero Systems Private Limited with the company on October 28, 2026.
10 · Previous-quarter changes
What changed since the previous quarter
Revenue increased from INR 360.721 crore in Q1 FY27 to INR 406.765 crore in Q2 FY27, while PAT grew from INR 50.227 crore to INR 59.832 crore.
11 · Key Q&A
The quarter, answered directly
What does MTAR Technologies do?
MTAR Technologies Limited is a precision engineering company based in Hyderabad, Telangana, specializing in the manufacture of mission-critical components, equipment, and sub-systems for sectors such as clean energy, nuclear and space, and defense.
What is the clearest takeaway from Quarter ended 30-Sep-2026?
MTAR Technologies recorded revenue from operations of INR 406.765 crore for the quarter ended September 30, 2026, marking a substantial expansion compared to INR 135.593 crore in the corresponding period of the previous year and INR 360.721 crore in the preceding quarter.
What drove revenue or demand?
Sale of products contributed INR 401.686 crore to the quarterly revenue, up from INR 134.364 crore in Q2 FY25 and INR 355.892 crore in Q1 FY27.
What mattered most for margins or profitability?
Cost of materials consumed was INR 228.308 crore, offset by a positive change in inventory of work-in-progress amounting to INR 11.873 crore.
What changed operationally beyond the headline numbers?
Property, plant and equipment stood at INR 637.808 crore and capital work-in-progress was INR 112.930 crore as of September 30, 2026.
What should the next disclosure help confirm?
Monitor the operational integration of the merged subsidiaries following the NCLT approval.
12 · Scenario calculator
Earnings sensitivity: what if growth and margins change?
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13 · Next filing checkpoints
What the next disclosure can confirm or change
- 01
Execution of Amalgamation Integration: Monitor the operational integration of the merged subsidiaries following the NCLT approval.
- 02
Capital Expenditure Progress: Track the utilization of capital work-in-progress amounting to INR 112.930 crore towards expanding manufacturing capabilities.
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