MTAR sees PAT jump 47 per cent YoY, Recommends Final Dividend of Rs.3
Revenue from operations at Rs. 246.4 Crs up by 15.3%
Hyderabad: MTAR Technologies, a Hyderabad based precision engineering solutions company engaged in the manufacturing and development of mission critical precision components and critical assemblies catering to nuclear, space, defense and renewable energy sectors has declared its Audited Financial Results for the Quarter & Year ended March 31, 2021.
The Board has recommended Final Dividend @ 30% i.e. Rs. 3/- per share (face value of Rs. 10 each) for the financial year ended March 31, 2021, subject to approval of members at the ensuing Annual General Meeting.
The Revenue from Operations stood at Rs.246.40 crores in FY21 as against Rs 213.80 crores in FY20 up by 15% (y-o-y). Earnings before interest, tax, depreciation and amortization (EBITDA) was substantially up by 43% at Rs 83.1 crore in FY21 as compared to Rs 58 crore in FY20. Profit After Tax also increased considerably by 47% to Rs 46.1 crore as against Rs 31.3 crore in FY20.
The order book stands at Rs 415.90 crore in FY21. The breakup of the same is as follows
1. Nuclear: 29.2%
2. Clean Energy: 34.5%
3. Space & Defense: 36.1%
4. Others: 0.2%
Commenting on the results and performance for Q4 & FY21, Mr. Srinivas Reddy, Managing Director for MTAR Technologies Limited said: “Despite challenges faced due to Covid-19 pandemic during the year gone by, your Company has been able navigate & has delivered resilient performance for the quarter & year ended FY21. Our revenues stood strong at Rs. 246.4 crs for FY21, a growth of 15% Y-o-Y. Our order book as on 31° March 2021 stood at Rs. 415.9 crs giving us strong revenue visibility for the coming years.
We have been able to penetrate deeper among the existing customers & are witnessing traction from new customers across geographies. Our continuous focus on the markets we operate in has reaped rich benefits with prestigious order wins & are optimistic for future as well.
At MTAR, we are continuously working on expansion of our product portfolio in developing critical hi-precision indigenous components and assemblies across sectors. We are in the process of developing associated technology for roller screws and electromechanical actuators. In addition, we are adding new capabilities by establishing exclusive facilities for precision sheet metal manufacturing and specialised fabrication at our Adibatla plant, which is expected to increase our wallet share from existing customers and add new customers. With our state of art manufacturing facilities, technology & innovation capabilities, execution strength & client stickiness, we believe we are well placed to capture the opportunities in the markets we operate.
With strong order book in hand, we maintain a positive outlook and are optimistic of sustaining the growth momentum. I would also like to thank all the share holders participating in the IPO & showing trust in our company. Moving forward, we also reiterate our confidence to create long-term shareholder value.”