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RAPS-4 and MAPS-2 are nuclear power reactor units in India with a capacity of 220 MWe each, located at Rawatbhata (Rajasthan) and Kalpakkam (Tamil Nadu), respectively. Both are pressurized heavy water reactors (PHWR) operated by the Nuclear Power Corporation of India (NPCIL).
Parvat Srinivas Reddy, managing director of MTAR, said: 'We have secured significant orders in the civil nuclear sector over the past few months.
Our closing nuclear order book now stands at more than Rs 775 crore, the highest in the company’s history. The sector’s long-term outlook remains promising, and we expect a steady inflow of orders over the coming years.'
MTAR Technologies is a leading manufacturer engaged in manufacturing and development of mission critical precision engineered systems catering to clean energy – civil nuclear power, fuel cells, hydel & others, aerospace and defence sectors. It has sixteen strategically based manufacturing units including an export-oriented unit each based in Hyderabad, Telangana.
The company's profit after tax surged 364.8% year-on-year to Rs 50.2 crore in Q1 FY27 from Rs 10.8 crore in Q1 FY26. Revenue from operations soared 130.4% YoY to Rs 360.7 crore in Q1 FY27 from Rs 156.6 crore in the corresponding quarter last year.
Revenue from operations soared 130.4% YoY to Rs 360.7 crore in Q1 FY27 from Rs 156.6 crore in the corresponding quarter last year. Revenue rose 17.8% QoQ from Rs 306.1 crore in Q4 FY26.
Gross profit climbed 93.4% YoY and 21.3% QoQ to Rs 164.2 crore in Q1 FY27. Gross margin stood at 45.5% compared with 54.2% a year ago and 44.2% in Q4 FY26.
Profit before tax stood at Rs 67.4 crore in Q1 FY27, up 13.3% QoQ and 355.4% YoY.
EBITDA jumped 199.6% YoY and 37.7% QoQ to Rs 85.1 crore in Q1 FY27. EBITDA margin improved to 23.6% from 20.2% in Q4 FY26 and 18.1% in Q1 FY26.
Employee benefits expense increased 35.6% YoY to Rs 46.5 crore, while other expenses rose 46.8% YoY to Rs 32.6 crore. Finance costs surged to Rs 15.8 crore from Rs 5.8 crore a year ago, while depreciation and amortisation expense increased 15.5% YoY to Rs 9.7 crore.
The company reported a total tax expense of Rs 17.2 crore in Q1 FY27, compared with Rs 4.0 crore in the corresponding quarter last year.
During the quarter, exports contributed 81% of revenue, while domestic business accounted for 19%. MTAR secured fresh orders worth Rs 2,895.1 crore during Q1 FY27, the highest quarterly order inflow in its history. Its order book stood at Rs 5,143.3 crore as on 30 June 2026, supported by strong demand across clean energy, aerospace and defence, and other technology segments.
Managing director Parvat Srinivas Reddy said the company delivered another strong quarter in line with its FY27 growth guidance and believes MTAR is at an inflection point, with each of its key business verticals positioned for the next phase of growth.
Separately, MTAR Technologies said it has received an amended purchase order from an existing customer, increasing the total order value to $324.62 million (approximately Rs 3,100.09 crore) from the earlier $238.76 million (approximately Rs 2,278.96 crore) announced on 14 May 2026. The amended order includes an incremental value of $85.86 million (approximately Rs 819.94 crore). The execution timeline for the order will be decided at a later date.
The concerns stemmed from MTAR's close relationship with Bloom Energy, a leading provider of solid oxide fuel-cell systems. MTAR manufactures and supplies critical hot box assemblies used in Bloom Energy's fuel-cell platforms.
The Wyoming project, a planned 1.8-gigawatt AI-focused data centre campus, had attracted attention because part of its power requirements were expected to be met using Bloom Energy's fuel-cell technology. Investors feared that any delay or cancellation of the project could affect Bloom Energy's future deployment pipeline and, consequently, demand for components supplied by MTAR.
However, Black Hills Corporation clarified that the project continues to progress as planned and remains on track for service commencement in early 2028. The company clarified that while Crusoe is no longer the development partner, it is working directly with the prospective hyperscaler customer to advance the project.
Black Hills also said its Wyoming utility subsidiary has already entered into agreements related to generation equipment procurement and substation infrastructure. The prospective customer has provided more than $200 million in refundable contributions toward construction milestones and equipment procurement.
The clarification helped ease concerns surrounding the future of the data centre project and the associated demand outlook for Bloom Energy's fuel-cell systems, which are supplied with key components manufactured by MTAR Technologies.
MTAR Technologies manufactures precision-engineered systems and components for clean energy, civil nuclear power, fuel cells, hydel, aerospace and defence sectors.
Its consolidated net profit jumped to Rs 44.3 crore in Q4 FY26, up 223.4% YoY from Rs 13.7 crore and higher by 27.7% QoQ from Rs 34.7 crore. Revenue from operations rose 67.2% YoY to Rs 306.1 crore in Q4 FY26 from Rs 183.1 crore in the year-ago quarter. On a sequential basis, revenue increased 10.1% from Rs 278 crore.
The company received record order inflows of Rs 2,453.3 crore during FY26, including Rs 481.6 crore in Q4 FY26. Its order book stood at Rs 2,581.9 crore as on 31 March 2026. Of the total order book, 51.2% came from clean energy-fuel cell, hydel and other businesses, while clean energy-civil nuclear power contributed 26.3% and aerospace and defence accounted for 14%.