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MTARTECH · NSE · Other Electrical Equipment

MTAR Technologies Ltd

What the numbers mean, from its filings and the exchange. Data as of 12 Oct 2026.
Small Cap · AMFI list Jan-Jun 2026 · Vendor sector: Industrials
dear low confidence No valuation within 120 days; P/E 179 vs peers 20.8 (9th of 9); P/B 12.9 vs peers 7.2 (8th of 9).
Statements through FY2026Prices adjusted for corporate actionsNot yet reviewed by the adversarial model

What is MTAR Technologies's share price today?

MTAR Technologies last traded at ₹7,697.00 on the NSE, as of 12 Oct 2026, 11:00 pm IST, down 1.1% on the day, up 311.9% over a year. Its 52-week range is ₹1,866 to ₹8,714. The live price is in the app.

₹7,697.00 −1.1% today
+311.9% over 1 year · NSE, as of 12 Oct 2026, 11:00 pm IST
60 month-end closes, 30 Jun 2021 to 31 May 2026, adjusted for splits and bonuses
52-week range85% of the way up
Low ₹1,866High ₹8,714

What is MTAR Technologies's market cap?

MTAR Technologies's market capitalisation is about ₹23,936 crore: what it would cost to buy every share at today's price. That makes it the 76th largest small cap company we cover.

₹23,936 Cr Small Cap76th largest small cap company
Small Cap means the companies ranked 251 and below by size, under SEBI's rules. Shares in issue are worked out from the market cap and the price. What market cap tells you →

Key facts

From the exchange
Symbol
NSE: MTARTECH
ISIN
INE864I01014
Cap bucket
Small Cap, 76th largest by market cap
Industry (NSE)
Industrials › Capital Goods › Electrical Equipment › Other Electrical Equipment
Listed since
2021
Futures and options
Not traded

Is MTAR Technologies overvalued?

Dear, with low confidence: no valuation within 120 days; P/E 179 vs peers 20.8 (9th of 9); P/B 12.9 vs peers 7.2 (8th of 9).

Valuation

Latest price and trailing 12 months
P/E 179.34
vs peers 20.8 · 9th of 9
Price divided by last year's earnings per share: how many years of today's profit you pay for. Learn more →
P/B 12.92
vs peers 7.2 · 8th of 9
Price divided by book value per share: what you pay for each rupee of net assets on the balance sheet. Learn more →
Market cap ₹23,936 Cr
Total market value of all shares, in ₹ crore. Learn more →
Dividend yield Not available
Last year's dividends as a share of today's price. Learn more →
PEG (vendor) 7.44
vs peers 1.4 · 6th of 8
P/E divided by the vendor's earnings growth figure, which it does not disclose; a P/E adjusted for how fast profits grow. Learn more →
PEG on our 3-year EPS growth Not available
P/E divided by the 3-year EPS growth rate from the stored accounts. Learn more →
3 models could be judged
Skipped — Fair value, EPV, Graham number, Graham value, Lynch, Owner earnings: no valuation stored

Our valuation range

🔒 Pro
Value range, implied growth at today's price, and the nine models behind it: in the app.

Is MTAR Technologies a quality business?

Quality score 44.9, 7th of 10 in its peer set; WATCH on 30 of 30 flags judged.

Quality and risk

Data as of 12 Oct 2026
Business quality Not available
The kind of business, which sets the yardstick it is judged by. Learn more →
Quality score 44.9
vs peers 55.3 · 7th of 10
Returns, margins, leverage and consistency against its peers, out of 100. Learn more →
Risk level WATCH
30 of 30 flags judged
From flags on debt, earnings quality, dilution and price swings. Learn more →

Profitability

ROE 12.2%
vs peers 20.6% · 7th of 10
Return on equity: profit as a share of shareholders' money. Learn more →
ROCE 14.7%
vs peers 22.7% · 7th of 10
Return on capital employed: operating profit as a share of all the capital in the business, debt and equity. Learn more →
Profit margin 12.0%
vs peers 12.4% · 6th of 9
Profit after everything, as a share of revenue. Learn more →
EPS ₹30.57
Trailing 12 months
Profit for each share over the last 12 months.

Scorecard

🔒 Pro
Health scores and red flags with their values and history: in the app.
See the scorecard →
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Has MTAR Technologies made money for shareholders?

Yes: +311.9% over one year and +51.6% a year over five years.

Shareholder returns

1-year return +311.9%
Price only
What the share price did over the last 12 months. Learn more →
5-year return +51.6% a year
Price only
Yearly average price return over five years, bonuses and splits adjusted. Learn more →
Wealth destroyer No
Five-year total return — price CAGR on bonus- and split-adjusted closes plus the dividend yield — below the 7% a bank fixed deposit paid. Learn more →

Returns

3Y and 5Y are yearly averages
1W
+1.7%
1M
+12.0%
3M
+15.3%
6M
+77.0%
1Y
+311.9%
3Y
+60.2%
5Y
+51.6%

Does MTAR Technologies pay a dividend?

MTAR Technologies last paid ₹3.00 a share, ex-dividend 21 Feb 2022; nothing in the past 12 months counts toward a yield.

Dividends

Per share, by ex-dividend date
21 Feb 2022 · Interim₹3.00
22 Jul 2021 · Final₹3.00
Payout ratio🔒 In the app
The share of profit paid out as dividends; a very high share leaves little to reinvest.
Dividend growth, 5 years🔒 In the app
How fast the dividend per share has grown a year.
Years without a miss🔒 In the app
How many years in a row a dividend has been paid.

Is MTAR Technologies growing?

Revenue 3 years 14.9% a year; profit 3 years -3.1% a year; revenue 5 years 27.4% a year.

Growth

Statements through FY2026 (Mar-26)
Revenue 3 years 14.9% a year
vs peers 67.5% · 9th of 9
Compound annual growth of revenue over three years. Learn more →
Profit 3 years -3.1% a year
vs peers 105.2% · 8th of 8
Compound annual growth of net profit over three years. Learn more →
Revenue 5 years 27.4% a year
Compound annual growth of revenue over five years. Learn more →
Profit 5 years 17.0% a year
Compound annual growth of net profit over five years. Learn more →
EPS 3 years -3.1% a year
Growth in earnings per share, so dilution counts against the company. Learn more →
EPS 5 years 13.8% a year
Growth in earnings per share over five years, so dilution counts against the company. Learn more →
P/E vs own history 185.4%
Today's P/E against its own 5-year median; negative is cheaper than its history. Learn more →

How did MTAR Technologies do last quarter?

MTAR Technologies reported revenue of ₹356 Cr, up 29.6% on a year earlier and a net profit of ₹50 Cr, up 77.8% in the Jun 2026 quarter.

Latest quarter

Jun 2026
Revenue, latest quarter₹356 Cr
+29.6% on a year earlier
What the company took in over the quarter.
Net profit, latest quarter₹50 Cr
+77.8% on a year earlier
What was left for shareholders after every cost and tax.

How does MTAR Technologies compare with its peers?

Compared with 9 Other Electrical Equipment; 9th of 9 on P/E; 7th of 10 on quality score.

Compared with 9 Other Electrical Equipment

9 companies

MTAR Technologies against its peers

Largest 9 of 9 peers, by market cap
CompanyMarket capP/EP/BROEROCE1YQuality 🔒Rank 🔒
MTAR Technologies Ltd₹23,936 Cr179.312.912.2%14.7%+311.9%
Apar Industries Ltd₹75,303 Cr61.17.720.6%32.1%+111.3%
Waaree Energies Ltd₹66,821 Cr17.56.833.4%38.0%−31.8%
Premier Energies Ltd₹40,645 Cr24.120.87.6%9.8%−13.2%
Diamond Power Infrastructure Ltd₹22,784 Cr102.1—12.6%4.8%+171.6%
Emmvee Photovoltaic Power Ltd₹20,774 Cr15.65.610.0%13.1%+36.8%
Avalon Technologies Ltd₹15,386 Cr114.97.611.6%15.1%+88.8%
Fujiyama Power Systems Ltd₹12,554 Cr—4.736.4%34.5%+96.2%
Genus Power Infrastructures Ltd₹9,022 Cr12.63.029.9%22.7%−3.8%
Waaree Renewable Technologies Ltd₹8,376 Cr16.58.769.1%85.0%−34.8%
Peer median—20.87.220.6%22.7%+36.8%
Market cap in rupees crore; P/E and P/B on the latest price; 1Y is the price return over a year. A dash is a figure that does not apply or is not reported.

Full peer comparison

🔒 Pro
Every peer, every figure, the ranks and the quality and forensic scores side by side: in the app.

Who owns MTAR Technologies?

MTAR Technologies is held by promoters 29.4%, foreign institutions 24.8%, domestic institutions 22.4%.

Shareholding pattern

Latest filing, percent of shares
Promoters29.4%
The founders and controlling group.
Foreign institutions24.8%
Overseas funds investing through the FPI route.
Domestic institutions22.4%
Indian insurers, banks, pension and mutual funds together.
Mutual funds20.4%
Indian mutual fund schemes; part of domestic institutions.
Retail and others20.4%
Individual investors and everyone else.
Promoter shares pledged🔒 In the app
Promoter shares given as collateral for loans; a high share is a risk to watch.
Holding trend🔒 In the app
Whether promoters, foreign funds and mutual funds have been adding or selling over recent quarters.

What do analysts say about MTAR Technologies?

4 analysts cover MTAR Technologies, and the consensus is buy. A consensus is a count of opinions, not a forecast; read it beside the numbers.

Analyst consensus

4 analysts
ConsensusBuy
The rating most covering analysts give the share.
Average target price🔒 In the app
The mean of the analysts' 12-month price targets.
Upside to target🔒 In the app
How far the target sits above or below today's price.
Share rating it a buy🔒 In the app
The share of covering analysts with a buy rating.

What does MTAR Technologies do and what is it sensitive to?

MTAR Technologies Limited manufactures precision-engineered systems, sub-systems and components for civil nuclear, space, defence and clean energy customers, mostly on a B2B basis. Sensitive to: rupee exchange rate against USD.

Business-model card

FY2025 · 41 verified
2Revenue
5Channels
1Regulators
4Reg. dependencies
6Sensitivities
3Costs
3Geographies

MTAR Technologies Limited manufactures precision-engineered systems, sub-systems and components for civil nuclear, space, defence and clean energy customers, mostly on a B2B basis. Its revenue is largely export-driven, and it earns by making products to customer specifications and recognising revenue when control of the goods passes to the customer.

Revenue by segment

year ended March 31, 2025 (consolidated, Note 38; single business segment, so rows are the geographic split of revenue)
India20.0%
Outside India80.0%

Revenue engine

2 verified
Clean energy: hydrogen fuel cell generators/generating sets (64.4%)
Manufacture of generators and generating sets for clean energy using hydrogen fuel cell technology, per the company's NIC-coded product table; the largest line by stated share of turnover.
Aerospace precision machining and components (35.6%)
Manufacture and machining of high-precision components for aerospace, aircraft and spacecraft, per the company's NIC-coded product table.

Customers & channels

5 verified
Concentrated customer base
Interpretation: revenue is concentrated, so loss or volume reduction at a major customer would hit revenue, cash flow and financial condition.
Group single customer above 10% of revenue
Consolidated disclosure: one customer contributed Rs. 4,836.99 million of revenue in FY2025 (Rs. 4,076.04 million in FY2024), so this customer is a major share of group revenue.
Named major client groups
Major clients named by the company include the nuclear power, space and defence programmes, plus global defence and clean energy customers.
2 more statements
Long-term agreements with IAI and Thales
The company has long-term agreements with these named customers, which it cites as a way to address concentration risk.
Government and export customers as credit anchors
Interpretation: government and export customers are the main counterparties, which bears on receivable credit risk.

Regulators

1 verified
Foreign Exchange Management Act, 1999
Governs foreign direct investment, overseas direct investment and external commercial borrowings, which affect the company's foreign-currency funding and capital structure.

Regulatory dependencies

4 verified
Production Linked Incentive (PLI) schemes
Interpretation: the PLI schemes are cited as accelerating manufacturing in key sectors; a change in these incentives would affect the demand and cost environment for domestic manufacturing.
Revenue recognition on transfer of control (Ind AS 115)
Revenue is recognised at a point in time when control passes, generally on delivery, so revenue timing follows delivery terms and incoterms for exports.
Tariffs and trade restrictions
Interpretation: tariffs can reduce revenue from affected geographies and raise procurement costs and delays for imported inputs.
1 more statement
Price escalation clauses in civil nuclear contracts
Escalation clauses for key raw materials pass part of input-price movement to the customer, reducing exposure to input cost fluctuations.

Sensitivities

6 verified
Rupee exchange rate against USD
Rupee appreciation or depreciation against USD and other major currencies can have a material impact on financial performance; exports exceed imports, which is described as a natural hedge.
Raw material prices and availability
Raw material availability and pricing are volatile, driven by supply-demand, transport and labour costs, duties and tariffs, and currency; higher volatility raises procurement and margin risk.
Project delays and supply disruption
Delays in manufacturing, inspection or shipment postpone project execution and reduce revenue and margins; supply-chain disruption is cited as a revenue risk.
3 more statements
Debt-funded expansion
Debt funding can be cost-effective but adds financial risk if new ventures underperform; higher borrowing raises finance costs and leverage risk.
Customer-driven pricing pressure in volume production
Pricing pressure rises in volume-based production, where customers pursue annual cost-reduction initiatives with suppliers, which compresses margin.
Receivable and working capital cycle
Shipment delays from geopolitical disruption can defer receivables and extend the working capital cycle, creating margin pressure.

Cost inputs

3 verified
Specialised alloys and materials
Specialised raw materials such as Inconel, 17-4 PH, SS 410 and 13-8 MO are bought from a broad network of vendors.
Majority of raw materials from third-party suppliers
Most raw materials come from third-party suppliers, except in certain aerospace and defence orders where customers issue materials directly.
Fuel cell raw materials from customer-directed sources
In the fuel cell sector, most raw materials are procured from customer-directed sources, with price contracts entered a year ahead and later price increases treated as a pass-through.

Geographies

3 verified
Exports and customers outside India (70.0%)
Interpretation: a majority of revenue comes from customers outside India and is largely USD-denominated, which makes currency and trade exposure central.
Export contribution of turnover (79.0%)
Exports contribute the stated share of total turnover.
Domestic operations as a hedge
The company is increasing focus on domestic operations as a strategic hedge against geopolitical volatility.
Each statement is checked word for word against the FY2025 annual report; the passages are in the app.

What changed recently?

Q1 FY2027 results filed (29 Jul 2026).

Change log

8 entries · newest first
  1. Results filedQ1 FY2027 results filed.
  2. Results filedQ4 FY2026 results filed.
  3. Results filedQ3 FY2026 results filed.
  4. Results filedQ2 FY2026 results filed.
  5. Results filedQ1 FY2026 results filed.
  6. Results filedQ4 FY2025 results filed.
  7. Corporate actionAnnual General Meeting.
  8. Corporate actionAnnual General Meeting.
Get alerts →Sign in to be told when any of these change.

What this page does not tell you

What could not be judged, and why. Never empty.
  • Models not runFair value, EPV, Graham number, Graham value, Lynch, Owner earnings: no valuation stored.
  • FlagsWATCH on 30 of 30 flags judged; 2 red.
  • Data gapsDividend yield, PEG on our 3-year EPS growth, Business quality: not available yet.

What this page rests on

✓7 years of annual statements, through FY2026 (Mar-26)✓10 quarters of results✓63 months of month-end prices, adjusted for bonuses and splits○no valuation of ours yet✓business-model card FY2025 · 41 verified

Questions people ask

What is MTAR Technologies's share price today?

MTAR Technologies last traded at ₹7,697.00 on the NSE, as of 12 Oct 2026, 11:00 pm IST, down 1.1% on the day, up 311.9% over a year. Its 52-week range is ₹1,866 to ₹8,714. The live price is in the app.

What is MTAR Technologies's market cap?

MTAR Technologies's market capitalisation is about ₹23,936 crore: what it would cost to buy every share at today's price. That makes it the 76th largest small cap company we cover.

Is MTAR Technologies Ltd a large cap, mid cap or small cap?

MTAR Technologies Ltd (MTARTECH) is a small cap company in AMFI's classification for Jan-Jun 2026. SEBI's buckets go by rank on six-month average market capitalisation: the top 100 are large caps, 101 to 250 mid caps, the rest small caps.

What is MTAR Technologies Ltd's P/E ratio?

179.34, vs peers 20.8 · 9th of 9. Price divided by last year's earnings per share: how many years of today's profit you pay for.

Is MTAR Technologies Ltd overvalued?

Dear, with low confidence: no valuation within 120 days; P/E 179 vs peers 20.8 (9th of 9); P/B 12.9 vs peers 7.2 (8th of 9).

How does MTAR Technologies Ltd make money?

MTAR Technologies Limited manufactures precision-engineered systems, sub-systems and components for civil nuclear, space, defence and clean energy customers, mostly on a B2B basis. Its revenue is largely export-driven, and it earns by making products to customer specifications and recognising revenue when control of the goods passes to the customer.

Who are MTAR Technologies Ltd's peers?

Compared with 9 Other Electrical Equipment: Apar Industries Ltd, Waaree Energies Ltd, Premier Energies Ltd, Diamond Power Infrastructure Ltd, Emmvee Photovoltaic Power Ltd and 4 more. The app shows how they compare on every figure.

Is this investment advice?

No. Valarth is a research and learning tool and is not a SEBI-registered investment adviser or research analyst. The figures come from the company's filings and the exchanges; what to do with them is your call.

How did MTAR Technologies do last quarter?

MTAR Technologies reported revenue of ₹356 Cr, up 29.6% on a year earlier and a net profit of ₹50 Cr, up 77.8% in the Jun 2026 quarter.

Who owns MTAR Technologies?

MTAR Technologies is held by promoters 29.4%, foreign institutions 24.8%, domestic institutions 22.4%.

Does MTAR Technologies pay a dividend?

MTAR Technologies last paid ₹3.00 a share, ex-dividend 21 Feb 2022; nothing in the past 12 months counts toward a yield.

What do analysts say about MTAR Technologies?

4 analysts cover MTAR Technologies, and the consensus is buy. A consensus is a count of opinions, not a forecast; read it beside the numbers.

Everything on MTAR Technologies, and 6,621 other companies, with 212 filters and the full peer tables

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