MTAR Technologies secures ₹386 crore orders in Clean Energy; shares rise over 5%

Shares of MTAR Technologies climbed as much as 5.21% to touch an intraday high of ₹1,486.30 apiece on the National Stock Exchange (NSE) on Wednesday, September 10, following the company's order win of ₹386 crore in clean energy, fuel cells segment.

The counter opened its day at ₹1,470, up from the previous close of ₹1,412.60. The stock is continuing its upward trend and is currently trading 4.32% higher at ₹1,474 apiece on the National Stock Exchange (NSE) at 12:35 PM.

The stock has rallied 1.92% higher in the last 5 days. On the other hand, the shares of MTAR Technologies have declined 0.54% in the last month and have significantly zoomed 11.86% in the last 6 months.

In a stock-exchange filing, MTAR Technologies said the contracts from its long-standing customer Bloom Energy Corporation are valued at $43.87 million (approximately ₹386.06 crore) and relate to its fuel cells business. The orders are scheduled for phased execution: about ₹204.86 crore to be completed by March 2026 and ₹181.20 crore by June 2026.

“The company continues to strengthen its presence in the Clean Energy – Fuel Cells segment, driven by its cutting-edge product portfolio, timely execution and cost competitiveness, despite macro challenges such as tariffs. In addition, we expect further orders from fuel cells segment going forward,” said Parvat Srinivas Reddy, Managing Director, MTAR Technologies Limited.

The company’s current market capitalisation stands at ₹4,526.58 crore. The stock touched its 52 week high of ₹1,841.95 on October 10, 2024 and touched its 52 week low of ₹1,155.60 on April 7, 2025. MTAR said the latest order win highlights the growth potential of its clean energy business.

Headquartered in Hyderabad, the company operates nine manufacturing units including an export-oriented facility and supplies components to sectors such as clean energy, civil nuclear power, aerospace and defence. Over the past five decades, MTAR has built relationships with leading Indian organisations and global OEMs.

MTAR Tech reported a net profit of ₹14.8 crore in the recent quarter, more than doubling from ₹6.2 crore a year ago. Revenue rose 22.3% year-on-year to ₹156.5 crore from ₹128 crore, while EBITDA grew 72% to ₹28.4 crore. Margins expanded by 500 basis points to 18% from 13% in the same period last year. For FY26, the company has guided for 25% revenue growth and 21% margins, with management reaffirming in May its confidence in meeting the full-year targets.