Slides
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MTAR Technologies Limited Investor Presentation – August 2025 Please click here for corporate video
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Safe Harbor This presentation and the accompanying slides (the “Presentation”), which have been prepared by M TA RTechnologies Limited (the “Company’), have been prepared solely for information purposes and do not constitute any offer,recommendation or invitation to purchase or subscribe for any securities, and shall not form the basis or be relied on in connection with any contract or binding commitment whatsoever. No offering of securities of the Company will be made except by means of a statutory offering document containing detailed information about the Company. This Presentation has been prepared by the Company based on information and data which the Company considers reliable, but the Company makes no representation or warranty, express or implied, whatsoever, and no reliance shall be placed on, the truth, accuracy, completeness, fairness and reasonableness of the contents of this Presentation. This Presentation may not be all inclusive and may not contain all of the information that you may consider material. Any liability in respect of the contents of, or any omission from, this Presentation is expressly excluded. Certain matters discussed in this Presentation may contain statements regarding the Company’s market opportunity and business prospects that are individually and collectively forward-looking statements. Such forward-looking statements are not guarantees of future performance and are subject to known and unknown risks, uncertainties and assumptions that are difficult to predict. These risks and uncertainties include, but are not limited to, the performance of the Indian economy and of the economies of various international markets, the performance of the industry in India and world-wide, competition, the company’s ability to successfully implement its strategy, the Company's future levels of growth and expansion, technological implementation, changes and advancements, changes in revenue, income or cashflows, the Company's market preferences and its exposure to market risks, as well as other risks. The Company's actual results, levels of activity, performance or achievements could differ materially and adversely from results expressed in or implied by this Presentation. The Company assumes no obligation to update any forward-looking information contained in this Presentation. Any forward-looking statements and projections made by third parties included in this Presentation are not adopted by the Company and the Company is not responsible for such third-party statements and projections. All Maps used in the presentation are not to scale. All data, information, and maps are provided "as is" without warranty or any representation of accuracy, timeliness or completeness 2
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A leader in critical and differentiated engineered products Strong Order Book Position Q1 FY26 Financial Snapshot Well Balanced Portfolio Working Capital Management Q1 FY26 Financial Performance
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Strong Order book Position Receipt of Major New Orders 4 Diversified Order Book of Rs. 930.21 Crs as on 30th Jun 2025 Existing Business Received Rs. 105.3 Cr of orders in this quarter in various sectors including Clean Energy – Civil Nuclear Power, Fuel cells and Hydel, Aerospace & Defence, Products and others by end of Q1 FY26. Order book Build-Up (Rs. in Crs) • Sales restated at order book excluding forex fluctuations, price escalations and scrap sales 16.6% 47.6% 30.0% 5.8% Clean Energy- Civil Nuclear Power Clean Energy- Fuel Cell, Hydel & Others Aerospace & Defence Products & Others 979.4 930.2105.3 154.4 31 March 2025 Incoming orders for Q1FY26 *Sales restated at Order book #30 June 2025
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New Customers added over the past 2-3 years 5 MNC Aerospace Oil & Gas and Others Clean Energy – Battery Storage Systems Clean Energy – Hydro Power, Wind Energy and Others • First articles execution is in progress for Weatherford and IAI • Commenced batch production of new products for GKN Aerospace, Rafael, Elbit, IAI and Thales, among others that shall be major drivers of revenues in Aerospace from FY 26 Updates
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New Product Development – First Articles Under Progress 6 Proto Units for Fluence • Dispatched proto valves to Navy • The company has got qualified for volume production orders for various naval programs Valves Proto Units for IAI 1st Articles for Weatherford • Completed the execution of proto 1. • Proto 2 delivery is expected to be in first quarter of FY 26 • Currently, the company is in discussion with Fluence about further requirements • Entered into long-term agreement with IAI • Commenced production of first articles for IAI in FY 25 • Execution of first articles for Weatherford in Oil & Gas sector is in progress • Entered into long-term agreement with Weatherford
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61.4 95.7 84.9 Q1 FY25 Q4 FY25 Q1 FY26 7Margins Gross Profit (Rs. Crs) Q1FY26 Financial Performance 52.3% 54.2%47.9% 16.6 34.2 28.4 Q1 FY25 Q4 FY25 Q1 FY26 EBIDTA (Rs. Crs) 18.7% 18.1%12.9% 6.2 18.6 14.8 Q1 FY25 Q4 FY25 Q1 FY26 PBT (Rs. Crs) 10.2% 9.5%4.8% 4.4 13.7 10.8 Q1 FY25 Q4 FY25 Q1 FY26 PAT (Rs. Crs) 7.5% 6.9%3.5% 128.3 183.1 156.6 Q1 FY25 Q4 FY25 Q1 FY26 Revenues (Rs. Crs)
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Net Working Capital (in Days) Working Capital Management 160 133 139 157 87 89 90 110 247 222 229 267 0 50 100 150 200 250 300 Sep-24 Dec-24 Mar-25 Jun-25 Other than WIP WIP Total Working Capital Days Particulars (Days) Q1FY26 Q4FY25 Receivables 126 113 Inventory 222 186 RM 112 96 WIP 110 90 Payables 87 77 8
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Well-balanced Portfolio (1/2) 9 45.7 43.8 61.9 18.4 5.4 FY22 FY23 FY24 FY25 Q1FY26 Aerospace & Defence 56.4 64.5 58.7 93.2 24.8 FY22 FY23 FY24 FY25 Q1FY26 Clean Energy – Fuel Cells, Hydel & Others 201.6 441.7 351.2 416.9 105.1 FY22 FY23 FY24 FY25 Q1FY26 Revenue in Rs. Crs Clean Energy – Civil Nuclear Power 14% 8% 15% 9% 63% 77%7% 61%11% 3% 14% 62%3% 16% 67%
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Well-balanced Portfolio (2/2) 10 Products & Others 18.3 23.7 108.3 147.5 21.4 FY22 FY23 FY24 FY25 Q1FY26 Revenue in Rs. Crs 6% 4% Geographical Break-up FY25 36% 64% Domestic Export19% 20% 80% Q1FY26 22% 14%
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Q1 FY26 Consolidated Profit & Loss Statement 11 Particulars (Rs. Crs) Q1 FY26 Q1 FY25 Y-o-Y Q4 FY25 Q-o-Q FY25 Revenue from Operations 156.6 128.3 22.1% 183.1 -14.5% 676.0 Cost of Materials Consumed 92.8 69.6 95.7 349.5 Changes in Inventories -21.1 -2.8 -8.3 -7.6 Gross Profit 84.9 61.4 38.3% 95.7 -11.3% 334.1 GP % 54.2% 47.9% 52.3% 49.4% Employee Benefits Expense 34.3 28.0 34.5 123.8 Other Expenses 22.2 16.8 27.0 89.5 EBITDA 28.4 16.6 70.9% 34.2 -16.9% 120.9 EBITDA % 18.1% 12.9% 18.7% 17.9% Other Income 0.6 0.5 0.0 5.2 Depreciation and Amortisation Expense 8.4 6.1 9.6 31.8 EBIT 20.6 11.0 24.6 94.2 Finance Costs 5.8 4.8 5.9 22.2 PBT 14.8 6.2 18.6 72.1 Total Tax Expense 4.0 1.8 4.9 18.7 Profit for the year 10.8 4.4 144.2% 13.7 -21.2% 53.4 PAT % 6.9% 3.5% 7.5% 7.9%
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Annexure
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A leader in critical and differentiated engineered products Consolidated Balance Sheet Historical Profit & Loss Abridged Cash Flow Statement Performance in Charts Capital Disciplined Approach
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Historical Consolidated Profit & Loss Statement 14 Particulars (Rs. Crs) FY25 FY24 FY23 FY22 Revenue from Operations 676.0 580.8 573.8 322.0 Cost of Materials Consumed 349.5 318.4 315.6 157.4 Changes in Inventories of Finished Goods and Work in Progress -7.6 -16.0 -46.1 -41.2 Gross Profit 334.1 278.4 304.2 205.8 GP % 49.4% 47.9% 53.0% 63.9% Employee Benefits Expense 123.8 97.0 93.5 70.8 Other Expenses 89.5 68.7 56.8 40.5 EBITDA 120.9 112.7 154.0 94.4 EBITDA % 17.9% 19.4% 26.8% 29.3% Other Income 5.2 5.8 19.5 8.8 Depreciation and Amortisation Expense 31.8 22.6 18.7 14.3 EBIT 94.2 95.9 154.8 88.9 Finance Costs 22.2 22.3 14.6 6.6 PBT 72.1 73.5 140.2 82.2 Total Tax Expense 18.7 16.9 36.8 21.3 Profit for the year 53.4 56.6 103.4 60.9 PAT % 7.9% 9.8% 18.0% 18.9%
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Historical Balance Sheet – Equity & Liabilities 15 EQUITY & LIABILITIES (Rs. Crs) Mar-25 Mar-24 Mar-23 Mar-22 Equity Share Capital 30.8 30.8 30.8 30.8 Other Equity 698.2 645.6 589.4 489.0 Total Equity 728.9 676.3 620.1 519.7 Financial Liabilities Borrowings 81.1 97.0 77.7 25.9 Provisions 4.7 2.6 2.6 0.4 Deferred Tax Liabilities (Net) 22.4 20.9 18.2 16.3 Non-Current Liabilities 3.2 3.0 3.0 0.0 Total Non-Current Liabilities 111.3 123.5 101.6 42.7 Financial Liabilities (i) Borrowings 96.2 93.9 65.6 69.9 (ii) Trade payables 106.1 62.5 218.2 57.0 (iii) Other Financial Liabilities 39.5 16.2 7.0 2.4 Provisions 3.8 3.3 1.9 3.0 Current Tax Liabilities (Net) 0.0 0.0 2.2 0.3 Other Current Liabilities 44.5 31.9 46.6 32.6 Total Current Liabilities 290.1 207.8 341.6 165.4 TOTAL EQUITY & LIABILITIES 1130.3 1,007.7 1,063.3 727.7
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Historical Balance Sheet - Assets 16 ASSETS (Rs. Crs) Mar’25 Mar’24 Mar-23 Mar-22 Property, Plant and Equipment 436.1 339.8 290.2 195.4 Capital Work-in-progress 53.2 72.9 64.4 43.8 Intangibles Assets 2.5 0.7 0.8 1.0 Financial Assets (i) Investments 0.0 0.0 0.0 0.0 (iii) Other Financial Assets 4.5 2.6 2.2 2.2 Non-Current Tax Assets (Net) 1.5 5.3 0.5 0.5 Other Non Current Assets 14.4 21.5 8.6 21.6 Total Non-Current Assets 512.2 442.8 366.6 264.5 Inventories 346.1 347.6 386.6 170.3 Financial Assets (i) Trade Receivable 209.8 146.6 208.4 136.0 (ii) Cash and Cash Equivalents 1.9 39.2 12.2 59.6 (iii) Other Bank Balances (other than Note 13 above) 15.0 11.6 19.0 7.4 (iv) Other Current Financial Assets 6.9 8.6 4.8 6.7 (v) Investment in units of mutual fund 0.0 0.0 27.5 62.3 Other Current Assets 38.5 11.2 38.2 20.9 Total Current Assets 618.1 564.8 696.7 463.2 TOTAL ASSETS 1130.3 1,007.7 1,063.3 727.7
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Abridged Consolidated Cash Flow Statement 17 Particulars (Rs in Cr) 31-Mar-25 31-Mar-24 31-Mar-23 31-Mar-22 Operating profit before working capital changes 123.6 115.8 168.8 96.1 Changes in working capital -8.9 -37.2 -129.1 -108 Cash generated from operations 114.7 78.7 39.7 -11.8 Direct taxes paid (net of refund) -13.4 -21.3 -32.3 -18.0 Net Cash from Operating Activities (A) 101.3 57.4 7.4 -29.8 Net Cash from Investing Activities (B) -102.7 -55.6 -86.7 -145.0 Net Cash from Financing Activities (C) -35.8 25.3 32.0 54.1 Net Change in cash and cash equivalents -37.2 27.0 -47.3 -120.7 Net Cash Flow from Operating Activates -29.8 7.4 57.4 101.3 -3.7% FY22 6.9% FY23 13.5% FY24 17.0% FY25 CFO/Revenue from Operation
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Performance in Charts 18 322.0 573.8 580.8 676.0 FY22 FY23 FY24 FY25 +28% Revenues (Rs. Crs) EBITDA (Rs. Crs) PAT (Rs. Crs) 94.4 154.0 112.7 120.9 FY22 FY23 FY24 FY25 +9% 60.9 103.4 56.6 53.4 FY22 FY23 FY24 FY25 -4% Gross Profit Margins (%) EBITDA Margins (%) PAT Margins (%) FY22 FY23 FY24 FY25 63.9% 53.0% 47.9% 49.4% FY22 FY23 FY24 FY25 29.3% 26.8% 19.4% 17.9% FY22 FY23 FY24 FY25 18.9% 18.0% 9.8% 7.9%
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Capital Disciplined Growth 19 RoCE* (%) RoE# (%) Debt to Equity (x) Mar-22 Mar-23 Mar-24 Mar-25 14.2% 19.9% 12.5% 11.5% Mar-22 Mar-23 Mar-24 Mar-25 11.7% 18.2% 8.7% 7.6% 0.18 0.23 0.28 0.24 Mar-22 Mar-23 Mar-24 Mar-25 *RoCE = EBIT/Avg. Capital Employed Capital Employed = Total Assets – Current Liabilities #RoE = Net Profit/Avg. Total Equity
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Thank You MTAR Technologies Limited CIN: L72200TG1999PLC032836 Ms. Srilekha Jasthi – Head, Strategy & Investor Relations +91 76740 21818 srilekha@mtar.in Mr. Irfan Raeen Irfan.raeen@in.mpms.mufg.com Mr. Parth Patel Parth.patel@in.mpms.mufg.com For Meeting request – Click Here MUFG Intime India Private Limited A part of MUFG Corporate Markets, a division of MUFG Pension & Market Services