āagman

Not investment advice. Data and computed figures, for information only.

MTAR Technologies Ltd

NSE: MTARTECH
₹7,777.00
−₹345.00 (−4.25%)
NSE · 24 Jun 2026, close
NSE
As of 31 Mar 2026
Market Cap
₹23,936 Cr
CMP
₹7,777.00
52-wk High / Low
₹8,714 / 1,648
P/E
176.0
P/B
29.2
Book Value
₹267.0
Div Yield
0.00%
ROCE
15.0%
ROE
12.4%
Face Value
₹10
D/E
0.46

Price+352.4% over 1Y

āagman read

Computed by āagman
Derived from 7 years and 13 quarters of filings. Not reported by the company.
As of 16 Oct 2026
How we compute these
Piotroski F-Score
6
/ 9
6 of 9 F-score tests passed
Graham Number
₹429
√(22.5 × EPS × book value per share)
ROIC
8.5%
vs 12.3% sector median
Cash flow to profit
2.10
CFO / PAT
Above 1.0 = operating cash flow exceeded reported profit
Margin change
+571
bps OPM YoY
Operating margin vs the same quarter last year
Sustainable growth
12.4%
ROE × earnings retention ratio
ROE stability
3.3
pp σ
Standard deviation of ROE across periods. Lower = more stable
Holder deltas
QoQ
pp
Prom −1.09FII +7.49DII −5.31
Latest quarter vs the previous one
Cash-accrual divergence
−7.2%
of assets
Low = accruals track cash flow
Strengths
+FII holding rose by 22.3pp over the last year
Watch-outs
−Latest ROCE of 15% trails the sector median of 19%
−Promoter holding fell by 17.3pp over the last year

Peer comparison

Peers
NameP/EMar Cap ₹ CrROCE %ROE %

Quarterly results

Consolidated basis (as filed) · ₹ Cr · 13 quarters
As of 30 Jun 2026
Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales153167118143128190174183157136278306361
Expenses11813195125112153141149128119214244276
Operating Profit35362418173733342817646285
OPM %22.9%21.6%20.3%12.6%13.3%19.5%19.0%18.6%17.8%12.5%23.0%20.3%23.5%
Other Income4100113014−1168
Interest656655666681016
Depreciation666668910899910
Profit before tax27261376252119156466067
Net Profit20201054191614114354450
EPS (₹)6.616.653.401.581.446.105.194.463.511.3811.2814.4016.33

Profit & Loss

As of 30 Jun 2026
Consolidated · ₹ Cr · 7 years + TTM
Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales2142463225745816768761,080
Expenses156163228420468555705852
Operating Profit588394154113121171228
OPM %27.1%33.7%29.2%26.8%19.4%17.9%19.5%21.1%
Other Income41919651927
Interest5771522222939
Depreciation1213141923323536
Profit before tax4665821407372126179
Net Profit314661103565394133
EPS (₹)11.7014.9819.7933.6218.2417.1930.5743.39

Balance Sheet

As of 30 Jun 2026
Consolidated · ₹ Cr
Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026Jun 2026
Equity Capital27313131313131—
Reserves198446489589646698792—
Borrowings291796143191177377—
Other Liabilities9293112300140224544—
Total Liabilities3465867281,0631,0081,1301,743—
Fixed Assets155167196291341439514—
CWIP12114464735334—
Investments00622700215—
Other Assets179409425680594638979—
Total Assets3465867281,0631,0081,1301,743—

Cash Flows

As of 31 Mar 2026
Consolidated · ₹ Cr
Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity569−30757101197
Cash from Investing Activity−12−22−145−87−56−103−353
Cash from Financing Activity−41180543225−36155
Net Cash Flow3167−121−4727−37−1

Ratios

As of 31 Mar 2026
7 periods
Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
ROCE %—19.016.022.011.010.015.0
ROE %——————12.4
EPS (₹)11.7014.9819.7933.6218.2417.1930.57
Book Value (₹)——————267.0
Face Value (₹)——————10
P/E——————176.0
Div Yield %——————0.00
NPM %14.218.618.417.49.57.810.5
OPM %27.034.029.027.019.018.020.0
D/E0.130.040.180.230.280.240.46
P/B——————29.2

Growth

As of 11 Oct 2026
Compounded sales growth
5 years+29.0%
3 years+15.0%
TTM+53.0%
Compounded profit growth
5 years+16.0%
3 years−2.0%
TTM+130.0%
Stock price CAGR
5 years+35.0%
3 years+45.0%
Last year+314.0%
Return on equity
5 years11.0%
3 years9.0%
Last year12.0%

Shareholding pattern

As of 31 Mar 2025
Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025
Promoters50.25%50.25%50.26%46.63%37.26%31.77%30.44%29.35%
FIIs3.02%3.02%6.19%2.51%10.57%6.74%17.31%24.80%
DIIs24.14%24.14%23.46%27.57%18.07%24.40%27.66%22.35%
Government————————
Public22.58%22.58%20.10%23.28%34.10%37.10%24.59%23.51%
No. of shareholders1,07,6271,07,6271,60,5232,05,4303,13,0193,01,0972,09,2732,58,386
Change since Jun 2023 (pp)
Promoters −20.90FIIs +21.78DIIs −1.79Public +0.93

Documents

As of 11 Oct 2026
Announcements
ESG Rating Received From CRISILShareholder Meeting / Postal Ballot-Scrutinizer''s ReportShareholder Meeting / Postal Ballot-Outcome of AGMClosure of Trading WindowAnnouncement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation
Annual reports
Annual Report 2026Annual Report 2025Annual Report 2024Annual Report 2023Annual Report 2022
Credit ratings
Rating updateRating updateRating updateRating updateRating update
Concalls
Aug 2026TranscriptAug 2026PPTAug 2026RecordingMay 2026TranscriptMay 2026PPTMay 2026RecordingFeb 2026TranscriptFeb 2026PPTFeb 2026RecordingNov 2025TranscriptNov 2025PPTNov 2025RecordingAug 2025TranscriptAug 2025PPTAug 2025Recording

Corporate actions

As of 21 Feb 2022
21 Feb 2022DIVIDENDInterim Dividend - Rs 3 Per Share—
22 Jul 2021DIVIDEND Annual General Meeting/Dividend - Rs 3 Per Share—
Fundamentals from a third-party compiler of exchange filings; prices from the exchanges. Not investment advice.© 2026 āagman