MTAR says Indian manufacturing is at an inflection point amidst push by government on Atmanirbhar Bharat initiative
HYDERABAD, Nov 4 (The CONNECT) – Mission critical precision components maker MTAR Technologies Ltd (MTAR) reported that its revenue from operations for the quarter ended September 30, 2021 registered a 68.97% jump QOQ by recording a turnover of Rs. 91.30 crore.
Parvat Srinivas Reddy, Managing Director & Promoter, MTAR Technologies, said, “We have witnessed an impressive growth in terms of revenue and order inflow in Q2 FY22 after the challenges imposed by Pandemic in Q1. MTAR has clocked a revenue of Rs. 91.30 Crs with an YoY growth of 24.57%.”
The Earnings before Interest, Tax, Depreciation and Amortization (Core EBITDA) stood at Rs. 29.44 crore in Q2FY22 as against Rs. 14.47 crore in Q1FY22, 103.43% increase QOQ. The Company’s EBITDA margin stood for Q2 FY 22 at 32.24%.
Profit Before Tax (PBT) stood at Rs. 27.11 crore for Q2FY22 as compared to Rs. 12.55 crore in Q1FY22, 116.01% increase QOQ. The company’s PBT margin stood for Q2 FY 22 at 29.69%
Profit After Tax (PAT) reported stood at Rs. 19.05 crore for Q2FY22 as against Rs. 8.71 crore in Q1FY22, 118.79% increase QOQ. PAT margin stood for Q2 FY 22 at 20.87%
The Company’s Order book as on 30 Sept 2021 stands at 535.64 Crs in comparison with 288.09 Crs as on 30 Sept 2020. It has received a rating of A-(Positive) from ICRA and A-/Stable from CRISIL for FY 22
MTAR is confident of continuing this growth momentum backed by a robust order book over the coming quarters as the Indian manufacturing is at an inflection point amidst push by government on Atmanirbhar Bharat initiative, Reddy said.