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MTAR Technologies Limited Investor Presentation – July 2026 Please click here for corporate video
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Safe Harbor 2 This presentation and the accompanying slides (the “Presentation”), which have been prepared by MTAR Technologies 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
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A leader in critical and differentiated engineered products MD’s Statement & Key Initiatives Quarterly Highlights & Business Updates New Product Development & Strategic Capacity Enhancement Annexure
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Management Commentary 4 The Company has consistently focused on the indigenisation of critical technologies in strategic sectors, often building capabilities in high growth areas ahead of broader industry adoption. Over the past five decades, we have pioneered complex mechanical systems across sectors that are witnessing a significant growth now - from fuel handling equipment for nuclear reactors, propulsion systems and structural assemblies for Aerospace & Defence programmes to various critical products for fuel cell applications. This spirit of innovation continues to shape our growth strategy as we deepen our participation in prestigious Aerospace & Defence programmes, both in India and globally, while expanding into emerging, high-growth opportunities such as data centre infrastructure solutions. For the current fiscal year, we have guided for revenue growth of 80%, with an EBITDA margin of 24% ±100 bps. Beyond near- term financial performance, our focus remains on building a diversified and resilient business by expanding our product portfolio, increasing wallet share with existing customers and growing our global customer base. We remain committed to leveraging our engineering heritage and execution capabilities to strengthen our capabilities further to build a world class manufacturing institution. PARVAT SRINIVAS REDDY (Managing Director)
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Key Initiatives taken over the past 5 years 5 Addition of New Products in Civil Nuclear, Clean Energy and Aerospace & Defence Verticals • Added new products like Fuel Transfer system in Civil Nuclear Power • Qualified for new products like End Shield and Calandria due to establishment of new capabilities • In Clean Energy, o Expanded wallet share in the fuel cell segment by adding various new products • Successfully qualified first articles for prestigious global Aerospace customers, including Thales, GKN and various other customers • Strengthened presence in the global aerospace ecosystem and unlocked future growth opportunities • Developed and successfully delivered critical aerospace components and assemblies, including landing gear parts for the LCA Tejas program • Currently engaged in the development of the Main Landing Gear Support Structure assembly for AMCA program • More than 25% of the revenue is being derived from the products that have been developed over the past 4-5 years • The company has also entered into long term contracts across diverse sectors with customers like IAI and Weatherford Diversification into new verticals – Oil & Gas and Data Centre Infrastructure solutions • Successfully delivered first articles – whipstock assemblies to Weatherford • Initiated working on Class A components for SLB • First articles for data centre infrastructure solutions under progress Establishment of dedicated Manufacturing and NADCAP Approved Special Processes Facilities • The Company commissioned a dedicated Aerospace facility in January 2025, tailored to specific customer requirements and established within an accelerated timeframe, demonstrating its agility in rapidly scaling capabilities to meet customer needs • The Company has also established a Nadcap accredited special processes facility with approvals covering more than 30 processes—a capability available with only a select few companies in India—demonstrating deep process expertise and comprehensive in-house manufacturing capabilities
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Celebrating 55 Years of Engineering Excellence Quarterly Highlights & Business Updates
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Sector: Clean Energy - Civil Nuclear Power 7 Highlights • The company supplies critical fuel handling assemblies for the core of the reactor • Recently, the company has received single largest order inflow of Rs. 504 Cr for the kaiga 5 & 6 projects, strengthening it order visibility in civil nuclear power • The company is expecting Rs. 150 Cr of orders in FY 27 from reactors that are due for refurbishment • In addition, NTPC is partnering with NPCIL for construction of 4 reactors at Mahi Banswara. Significant orders are expected from this project going forward • The Government of India aims to achieve 100 GWe capacity in civil nuclear sector by 2047, creating significant long- term opportunities. With its established capabilities in this sector, the Company is well positioned to benefit from potential order inflows from construction of new reactors, refurbishment of reactors and maintenance contracts. 43.8 61.9 18.4 23.6 3.2 FY23 FY24 FY25 FY26 Q1FY27 Revenue (in Rs. Cr) 8% 11% 3% 3% 1%
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Highlights Sector: Aerospace & Defence 8 • The company supplies liquid propulsion systems – Vikas Engine, Cryogenic Engine Upper Stage Assemblies, electro- pneumatic modules and critical structures for Launch Vehicles • It is also catering to structural assemblies requirement of prestigious programs like LCA Tejas and AMCA • In addition, the company has robust export MNC Aerospace wing where it is currently catering to reputed customers like Thales, GKN, IAI, Rafael, Elbit etc. • The MNC Aerospace vertical is poised for significant growth as programmes transition from first article qualification to volume ramp-up across a majority of its customers, providing robust potential for sustained scale-up in the coming years. 64.5 58.7 93.2 103.8 36.4 FY23 FY24 FY25 FY26 Q1FY27 Revenue (in Rs. Cr) 9% 7% 14% 12% 10%
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Highlights Sector: Clean Energy - Fuel Cells, Hydel & Others 9 • The company caters to multiple verticals within Clean Energy including Fuel Cells, Hydro Power and Wind Energy • In the Fuel Cells vertical, the Company supplies various products for Solid Oxide fuel cells • In Hydro Power and Wind Energy, it also fabricates products including draft tubes, spiral casings etc. • The company has robust closing order book of Rs. 3431 Cr in Clean Energy by end of Q1 FY 27, providing strong revenue visibility, with significant growth expected across the Clean Energy business, driven by structural tailwinds including rising power demand, the global energy transition, and the rapidly expanding data centre ecosystem. • It has recently bagged a order from SLB to supply sheet metal components and assemblies for data centre infrastructure solutions. Post the qualification, robust orders are expected in this vertical further diversifying its clean product portfolio 441.7 351.2 416.9 615.4 220.8 FY23 FY24 FY25 FY26 Q1FY27 Revenue (in Rs. Cr) 77% 61% 62% 70% 61%
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Sector: Products & Others 1010 23.7 108.3 147.5 134.1 100.4 FY23 FY24 FY25 FY26 Q1FY27 4% 19% 22% 15% 28% • The company supplies import substitutes and various other products to customers across diverse sectors Highlights Revenue (in Rs. Cr)
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Q1FY27 Financial Performance 11 Revenue (Rs. Cr) Gross Profit (Rs. Cr) EBIDTA (Rs. Cr) 84.9 135.4 164.2 Q1 FY26 Q4 FY26 Q1 FY27 44.2% 45.5%54.2% 28.4 61.8 85.1 Q1 FY26 Q4 FY26 Q1 FY27 20.2% 23.6%18.1% 156.6 306.1 360.7 Q1 FY26 Q4 FY26 Q1 FY27 PBT (Rs. Cr) PAT (Rs. Cr) 14.8 59.5 67.4 Q1 FY26 Q4 FY26 Q1 FY27 19.5% 18.7%9.5% 10.8 44.3 50.2 Q1 FY26 Q4 FY26 Q1 FY27 14.5% 13.9%6.9% Margins
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Q1FY27 Consolidated Profit & Loss Statement 12 Particulars (Rs. Cr) Q1 FY27 Q4 FY25 Y-o-Y Q4 FY26 Q-o-Q FY26 Revenue from Operations 360.7 156.6 130.4% 306.1 17.9% 876.2 Cost of Materials Consumed 204.3 92.8 165.0 503.5 Changes in Inventories -7.8 -21.1 5.7 -45.1 Gross Profit 164.2 84.9 93.4% 135.4 21.3% 417.8 GP % 45.5% 54.2% 44.2% 47.7% Employee Benefits Expense 46.5 34.3 43.0 150.9 Other Expenses 32.6 22.2 30.6 95.7 EBITDA 85.1 28.4 199.7% 61.8 37.6% 171.2 EBITDA % 23.6% 18.1% 20.2% 19.5% Other Income 7.9 0.6 16.4 23.1 Depreciation and Amortisation Expense 9.7 8.4 9.0 35.0 EBIT 83.2 20.6 303.6% 69.2 20.4% 159.3 Finance Costs 15.8 5.8 9.6 29.4 Exceptional Items* 0.0 0.0 0.0 3.8 PBT 67.4 14.8 355.0% 59.5 13.2% 126.1 Total Tax Expense 17.2 4.0 15.3 32.1 Profit for the year 50.2 10.8 364.5% 44.3 13.4% 94.0 PAT % 13.9% 6.9% 14.5% 10.7% * ₹3.8 crore has been recorded as an Exceptional Item on account of the statutory impact of the new Labour Codes
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Revenue Outlook & Robust Order Book Geographical Revenue Break-up (%) 18% 82% 19% 81% Order book Build-Up (Rs. Cr) 2,581.9 5,143.3 2,895.1 333.7 31 March 2026 Incoming orders for Q1FY27 *Sales restated at Order book #30 June 2026 • Company secured orders worth Rs 2,895.1 Cr across various sectors during Q1 FY27, marking the highest order inflow ever achieved in a single quarter and surpassing the entire FY26 order inflow of Rs 2,453.3 Cr Receipt of New Orders 13.3% 66.7% 7.4% 12.6% Clean Energy- Civil Nuclear Power Clean Energy- Fuel Cell, Hydel & Others Aerospace & Defence Products & Others Domestic Export • Sales restated at order book excluding forex fluctuations, price escalations and scrap sales Diversified Order Book of Rs. 5,143.3 Cr as on 30th Jun 2026 13 Q1FY27 FY26
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Working Capital Management 14 146 161 84 3 128 105 88 56 274 266 172 59 Sep-25 Dec-25 Mar-26 Jun-26 Other than WIP WIP Total Working Capital Days Particulars (Days) Q1FY27 Q4FY26 Receivables 82 140 Inventory 145 208 RM 89 120 WIP 56 88 Current Liabilities 168 176 Net Working Capital (in Days)
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Celebrating 55 Years of Engineering Excellence New Product Development New Product Development & Strategic Capacity Enhancement
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Product Portfolio – Civil Nuclear Power Nuclear Sector Products High criticality of products given safety requirements 35+ years of serving customers in Nuclear sector More than 15 kinds of products for a wide range of applications Partnered with NPCIL which controls all operational, under construction and planned reactors in the country given India does not allow private participation Drive Mechanisms Critical equipment used for regulating purpose and shutdown of nuclear reactors under normal and undesirable operating conditions Fuel Machining Head Comprises of more than 700 components; Used in loading & unloading of fuel bundles in nuclear reactor Grid Plate Used for resting the fuel sub-assemblies in prototype fast breeder reactor Bridge & Column Moves fuel machining head in sideways and vertical directions to allow loading and unloading of various fuel bundles in the nuclear reactor Coolant Channel assemblies - Sealing Plug, Shielding Plug, End Fittings Used in the core of civil nuclear reactor Top hatch cover beams and deck plate assembly Requires high positional and dimensional accuracies Shield Plug Liner Tube Sealing Plug 16
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Pivotal Role in India’s PFBR Programme • The recent achievement of criticality by the Prototype Fast Breeder Reactor (PFBR) marks a strategically significant milestone for India’s nuclear energy programme • MTAR has played a pivotal role in this prestigious programme, by supplying a majority of the critical assemblies for the reactor core, reflecting its deep engineering capabilities and longstanding contribution to India’s strategic nuclear infrastructure. 17
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Structural Assemblies for Aircraft Programs Product Portfolio – Aerospace and Defence Aerospace & Defence Sectors Stage 3 Cryogenic Engine - Turbo Pump, Injector Head, Gas Generator, Booster Pumps, Interfaces And Start Up Systems Liquid Propulsion Rocket Engine (Vikas Engine) Stage 1 - 4 Nos. Stage 2 - 4 Nos. Stage 4 – Inside Satellite POGO Command Module Modules used in Stage 1 & 2 Components for Geosynchronous Satellite Launch Vehicle (GSLV) Engine components and sub assemblies, storage boxes, ground support equipment, housings, and various other products for MNC Aerospace programs Actuator assemblies for LCA Tejas High precise, reliable & complex product requirements • Strong track record of establishing manufacturing facilities tailored to MNC customer requirements within accelerated timelines • More than three decades of experience in supply of propulsion systems for Launch Vehicle Programs • Established Track record of supplying structural assemblies for prestigious programs in Domestic Defence 18
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New Product Development – Aerospace & Defence 19 • Received order for Main Landing Gear Support Structure Test Box assembly for AMCA program. Declared L1 for Fuselage Door Assembly. • The company is participating in various other tenders of structural assemblies for fighter jet programs • Significant orders are expected for actuator assemblies for LCA Tejas Mark IA program Catering to Prestigious Programs in Domestic Defence MNC Aerospace Delivered first articles. Volume production is in progress for engine components, sub assemblies and other products Volume production underway for storage boxes Successfully completed the design and development of the load-bearing structure – Z Adapter for Thales Alenia Space First articles under progress. Volume production shall be taken up as per the long-term agreement post the completion of first articles in this fiscal year
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Product Portfolio – Clean Energy Clean Energy Sector Products in existing verticals like Fuel Cells are witnessing significant demand and the company is rapidly expanding into new verticals like data centre infrastructure solutions 15+ plus years of experience in catering to Solid Oxide Fuel Cells, the company has a long standing relationship with the customer Fuel Cells Data Centre Infrastructure Solutions Fuel Cells • Various products for Solid Oxide Fuel Cells Data Centre Infrastructure solutions • Sheet metal components and assemblies Hydro Power and Wind Energy • Draft Tubes, Spiral casings, and various other products 20
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Expansion & Diversification Plans – Clean Energy and Oil & Gas 21 • The company is in the process of setting up a greenfield facility to cater to the requirements of Weatherford and other customers in Oil & Gas and support phase 2 expansion of Clean Energy – Fuel cells • The facility is expected to be commissioned by Q3 FY 27 Setting Up of Green Field Facility to Cater to Oil & Gas and Phase 2 Expansion of Clean Energy – Fuel Cells Setting Up New Facility to support Phase 3 Expansion of Clean Energy – Fuel Cells • In Clean Energy – Fuel Cells, the Company is in the process of expanding its capacities in a phased manner, in line with customer requirements to support the growing demand. Phase 3 expansion to augment the capacities in this vertical will be completed at the new facility by March 2027 • The company is also focusing on training the skilled man-power and adopting automation techniques wherever possible
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New Customers added over the past 2-3 years 22 Clean Energy – Hydro Power, Wind Energy and Others Clean Energy – Data Center Infrastructure Solutions Oil & Gas and OthersMNC Aerospace Updates The company has received Rs. 45 Cr of orders from SLB to supply components and assemblies for data center infrastructure solutions
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Strategic Priorities 23 Accelerate Topline Growth • Increase wallet share with existing customers through widening product portfolio. • Expand the customer base across Clean Energy, Aerospace & Defence sectors to unlock new growth opportunities Expand Capacity & Capabilities • Execute strategic greenfield and brownfield expansions to meet growing demand across Clean Energy, Aerospace & Defence sectors. • Strengthen engineering and manufacturing capabilities to address higher-value products across diverse sectors Drive Operational Excellence • Improve productivity and execution efficiency through process optimization and digitalization initiatives. • Enhance asset utilization and operational efficiency across all the sectors Create Sustainable Long-Term Value Leverage strong growth momentum in Clean Energy, Aerospace & Defence to drive profitable growth. Build scalable capabilities, deepen customer relationships, and create long-term shareholder value Strengthen Cash Flows Reduce net working capital through inventory optimisation, improved collections, and favourable payment terms. Enhance operating cash flow generation and maintain a healthy balance sheet to support sustainable future growth. Maintain Capital Discipline • Pursue prudent capital allocation by prioritising opportunities across various sectors with strong growth potential and attractive returns. • Enhance Return on Capital Employed (ROCE) through efficient deployment of capital and improved asset utilization
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Celebrating 55 Years of Engineering Excellence Annexure
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Historical Consolidated Profit & Loss Statement 25 Particulars (Rs. Cr) FY26 FY25 FY24 FY23 Revenue from Operations 876.2 676.0 580.8 573.8 Cost of Materials Consumed 503.5 349.5 318.4 315.6 Changes in Inventories of Finished Goods and Work in Progress -45.1 -7.6 -16.0 -46.1 Gross Profit 417.8 334.1 278.4 304.2 GP % 47.7% 49.4% 47.9% 53.0% Employee Benefits Expense 150.9 123.8 97.0 93.5 Other Expenses 95.7 89.5 68.7 56.8 EBITDA 171.2 120.9 112.7 154.0 EBITDA % 19.5% 17.9% 19.4% 26.8% Other Income 23.1 5.2 5.8 19.5 Depreciation and Amortisation Expense 35.0 32.2 22.6 18.7 EBIT 159.3 93.7 95.3 154.8 Finance Costs 29.4 22.2 22.3 14.6 Exceptional Items 3.8 0.0 0.0 0.0 PBT 126.1 71.6 73.0 140.2 Total Tax Expense 32.1 18.7 16.9 36.8 Profit for the year 94.0 52.9 56.1 103.4 PAT % 10.7% 7.9% 9.7% 18.0%
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Historical Balance Sheet – Equity & Liabilities 26 EQUITY & LIABILITIES (Rs. Cr) Mar-26 Mar-25 Mar-24 Mar-23 Equity Share Capital 30.8 30.8 30.8 30.8 Other Equity 791.8 698.2 645.6 589.4 Total Equity 822.6 728.9 676.3 620.1 Financial Liabilities (i) Borrowings 147.7 81.1 97.0 77.7 (ii) Lease liabilities 6.7 0.0 0.0 0.0 Provisions 11.2 4.7 2.6 2.6 Deferred Tax Liabilities (Net) 24.9 22.4 20.9 18.2 Non-Current Liabilities 3.5 3.2 3.0 3.0 Total Non-Current Liabilities 194.0 111.3 123.5 101.6 Financial Liabilities (i) Borrowings 221.6 96.2 93.9 65.6 (ii) Lease liabilities 0.6 0.0 0.0 0.0 (iii) Trade payables 149.9 106.1 62.5 218.2 (iii) Other Financial Liabilities 91.8 39.5 16.2 7.0 Provisions 4.8 3.8 3.3 1.9 Current Tax Liabilities (Net) 3.3 0.0 0.0 2.2 Other Current Liabilities 254.9 44.5 31.9 46.6 Total Current Liabilities 726.8 290.1 207.8 341.6 TOTAL EQUITY & LIABILITIES 1,743.4 1130.3 1,007.7 1,063.3
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Historical Balance Sheet - Assets 27 ASSETS (Rs. Cr) Mar-26 Mar-25 Mar-24 Mar-23 Property, Plant and Equipment 497.2 436.1 339.8 290.2 Capital Work-in-progress 34.4 53.2 72.9 64.4 Right-of-use assets 15.0 0.0 0.0 0.0 Intangibles Assets 2.1 2.5 0.7 0.8 Financial Assets (i) Investments 0.0 0.0 0.0 0.0 (iii) Other Financial Assets 4.6 4.5 2.6 2.2 Non-Current Tax Assets (Net) 0.0 1.5 5.3 0.5 Other Non Current Assets 61.9 14.4 21.5 8.6 Total Non-Current Assets 615.2 512.2 442.8 366.6 Inventories 500.5 346.1 347.6 386.6 Financial Assets (i) Investment in mutual fund 215.3 0.0 0.0 27.5 (ii) Trade receivables 336.8 209.8 146.6 208.4 (ii) Cash and cash equivalents 1.0 1.9 39.2 12.2 (iii) Bank balances other than (iii) above 20.2 15.0 11.6 19.0 (iv) Other Financial Assets 4.3 6.9 8.6 4.8 Other Current Assets 50.0 38.5 11.2 38.2 Total Current Assets 1,128.2 618.1 564.8 696.7 TOTAL ASSETS 1,743.4 1130.3 1,007.7 1,063.3
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Abridged Consolidated Cash Flow Statement 28 Particulars (Rs in Cr) 31-Mar-26 31-Mar-25 31-Mar-24 31-Mar-23 Operating profit before working capital changes 179.8 123.6 115.8 168.8 Changes in working capital 41.9 -8.9 -37.2 -129.1 Cash generated from operations 221.7 114.7 78.7 39.7 Direct taxes paid (net of refund) -24.8 -13.4 -21.3 -32.3 Net Cash from Operating Activities (A) 196.9 101.3 57.4 7.4 Net Cash from Investing Activities (B) -352.6 -102.7 -55.6 -86.7 Net Cash from Financing Activities (C) 154.8 -35.8 25.3 32.0 Net Change in cash and cash equivalents -0.9 -37.2 27.0 -47.3 Net Cash Flow from Operating Activates 7.4 57.4 101.3 196.9 6.9% FY23 13.5% FY24 17.0% FY25 25.3% FY26 CFO/Revenue from Operation
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Performance in Charts 29 Revenues (Rs. Cr) EBITDA (Rs. Cr) PAT (Rs. Cr) Gross Profit Margins (%) EBITDA Margins (%) PAT Margins (%) 573.8 580.8 676.0 876.2 FY23 FY24 FY25 FY26 +15% 154.0 112.7 120.9 171.2 FY23 FY24 FY25 FY26 +4% 103.4 56.1 53.4 94.0 FY23 FY24 FY25 FY26 -3% FY23 FY24 FY25 FY26 53.0% 47.9% 49.4% 47.7% FY23 FY24 FY25 FY26 26.8% 19.4% 17.9% 19.5% FY23 FY24 FY25 FY26 18.0% 9.7% 7.8% 10.7%
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Capital Disciplined Growth 30 RoCE* (%) RoE# (%) Debt to Equity (x) Mar-23 Mar-24 Mar-25 Mar-26 24.1% 12.5% 11.4% 17.2% *RoCE = EBIT/Avg. Capital Employed Capital Employed = Total Assets – Current Liabilities #RoE = Net Profit/Avg. Total Equity 0.23 0.28 0.24 0.45 Mar-23 Mar-24 Mar-25 Mar-26Mar-23 Mar-24 Mar-25 Mar-26 18.1% 8.7% 7.5% 12.1%
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Ownership Structure 31 Stock Information NSE Scrip Code MTARTECH BSE Scrip Code 543270 Outstanding Shares 3,07,59,591 M-cap (Cr) as on 30th June 2026 23,432 Shareholding Pattern Sep-25 Dec-25 Mar-26 Jun-26 Promoters 31.41% 30.59% 30.44% 29.35% FIIs 9.21% 12.24% 17.31% 24.80% DIIs 24.81% 29.96% 27.66% 22.35% Public 34.58% 27.19% 24.59% 23.51% Top Shareholders Nippon Life India Trustee Ltd- A/C Nippon India Gr HSBC Mutual Fund - HSBC Small Cap Fund HDFC Mutual Fund - HDFC Defence Fund Sundaram Mutual Fund A/C Sundaram Long Term Motilal Oswal Focused Fund BNP Paribas Financial Markets - ODI 29.4% 24.8% 22.4% 23.5% Promoters FIIs DIIs Public
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MUFG Intime India Private Limited A part of MUFG Corporate Markets, a division of MUFG Pension & Market Services Ms. Vidhi Vasa Vidhi.vasa@in.mpms.mufg.com Mr. Parth Patel Parth.patel@in.mpms.mufg.com MTAR Technologies Limited CIN: L72200TG1999PLC032836 Ms. Srilekha Jasthi Head, Strategy & Investor Relations E-mail: srilekha@mtar.in Website: www.mtar.in COMPANY : INVESTOR RELATIONS ADVISORS : Thank You Meeting Request Link -