MTAR Technologies Ltd
MTAR develops and manufactures components and equipment for the defense, aerospace, nuclear and clean energy sectors. The company was incorporated in 1970 by the promoters, Mr PR Reddy, Mr KSN Reddy and Mr PJ Reddy, to cater to the technical and engineering needs of the Indian government in the post embargo regime. MTAR has manufacturing footprints in Hyderabad with seven units spread across a 4 km radius and a dedicated export facility as well. [1]
In addition, the company also supplies specialised products such as Ball Screws, Water Lubricated Bearings, Roller Screws, Electro-Mechanical Actuation Systems, ASP assemblies etc. that find applications across diverse sectors.[2]
- Market Cap ₹ 5,179 Cr.
- Current Price ₹ 1,684
- High / Low ₹ 2,920 / 1,550
- Stock P/E 63.2
- Book Value ₹ 215
- Dividend Yield 0.00 %
- ROCE 22.2 %
- ROE 17.9 %
- Face Value ₹ 10.0
Pros
- Company is expected to give good quarter
- Company has delivered good profit growth of 79.9% CAGR over last 5 years
- Company's median sales growth is 16.4% of last 10 years
Cons
- Stock is trading at 7.83 times its book value
- Promoter holding has decreased over last quarter: -1.88%
* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.
Peer comparison
Sector: Aerospace & Defence Industry: Engineering
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | TTM | |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|
100 | 95 | 105 | 81 | 81 | 101 | 157 | 184 | 214 | 246 | 322 | 573 | 633 | |
85 | 76 | 86 | 79 | 71 | 113 | 125 | 130 | 156 | 163 | 228 | 419 | 491 | |
Operating Profit | 15 | 20 | 19 | 2 | 11 | -12 | 32 | 54 | 58 | 83 | 94 | 154 | 142 |
OPM % | 15% | 21% | 18% | 2% | 13% | -12% | 20% | 29% | 27% | 34% | 29% | 27% | 22% |
3 | 1 | 2 | 3 | 1 | 1 | 1 | 4 | 4 | 1 | 9 | 20 | 10 | |
Interest | 6 | 9 | 9 | 8 | 7 | 5 | 4 | 4 | 5 | 7 | 7 | 14 | 22 |
Depreciation | 8 | 9 | 10 | 5 | 5 | 5 | 11 | 11 | 12 | 13 | 14 | 18 | 22 |
Profit before tax | 3 | 2 | 3 | -7 | -1 | -22 | 17 | 42 | 46 | 65 | 82 | 141 | 108 |
Tax % | 8% | 80% | 37% | 36% | 133% | 30% | 68% | 6% | 31% | 29% | 26% | 26% | |
3 | 0 | 2 | -5 | 0 | -15 | 5 | 39 | 31 | 46 | 61 | 104 | 82 | |
EPS in Rs | 0.97 | 0.12 | 0.64 | -1.64 | 0.06 | -5.34 | 1.92 | 13.89 | 11.70 | 14.98 | 19.79 | 33.84 | 26.63 |
Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 22% | 43% | 40% | 15% | 0% |
Compounded Sales Growth | |
---|---|
10 Years: | 20% |
5 Years: | 30% |
3 Years: | 39% |
TTM: | 33% |
Compounded Profit Growth | |
---|---|
10 Years: | 77% |
5 Years: | 80% |
3 Years: | 48% |
TTM: | -12% |
Stock Price CAGR | |
---|---|
10 Years: | % |
5 Years: | % |
3 Years: | 19% |
1 Year: | 10% |
Return on Equity | |
---|---|
10 Years: | 9% |
5 Years: | 15% |
3 Years: | 15% |
Last Year: | 18% |
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Sep 2023 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Equity Capital | 28 | 28 | 28 | 28 | 28 | 28 | 28 | 28 | 27 | 31 | 31 | 31 | 31 |
Reserves | 207 | 207 | 185 | 180 | 181 | 166 | 177 | 207 | 198 | 446 | 489 | 590 | 631 |
54 | 59 | 44 | 49 | 26 | 29 | 20 | 29 | 29 | 17 | 96 | 143 | 249 | |
84 | 98 | 73 | 48 | 38 | 71 | 56 | 41 | 92 | 93 | 112 | 299 | 155 | |
Total Liabilities | 373 | 392 | 330 | 306 | 273 | 294 | 281 | 305 | 346 | 586 | 728 | 1,063 | 1,066 |
162 | 159 | 151 | 145 | 146 | 148 | 152 | 162 | 155 | 167 | 196 | 282 | 289 | |
CWIP | 15 | 8 | 7 | 8 | 8 | 8 | 2 | 6 | 12 | 11 | 44 | 63 | 70 |
Investments | 25 | 25 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 62 | 34 | 45 |
170 | 199 | 171 | 152 | 119 | 138 | 127 | 137 | 179 | 409 | 425 | 683 | 662 | |
Total Assets | 373 | 392 | 330 | 306 | 273 | 294 | 281 | 305 | 346 | 586 | 728 | 1,063 | 1,066 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
14 | 42 | 56 | 9 | -30 | 9 | |||||||
-1 | -33 | -12 | -22 | -145 | -88 | |||||||
-14 | -7 | -41 | 180 | 54 | 32 | |||||||
Net Cash Flow | -1 | 2 | 3 | 167 | -121 | -47 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
Debtor Days | 65 | 60 | 56 | 71 | 88 | 140 | 114 | 100 | 105 | 114 | 154 | 132 |
Inventory Days | 269 | 240 | 382 | 467 | 535 | 524 | ||||||
Days Payable | 87 | 35 | 155 | 158 | 179 | 296 | ||||||
Cash Conversion Cycle | 65 | 60 | 56 | 71 | 88 | 140 | 296 | 305 | 332 | 423 | 510 | 360 |
Working Capital Days | 277 | 367 | 300 | 418 | 331 | 177 | 132 | 114 | 109 | 190 | 270 | 230 |
ROCE % | 3% | 4% | 4% | 0% | 2% | -7% | 10% | 18% | 19% | 19% | 16% | 22% |
Documents
Announcements
- Disclosures under Reg. 31(1) and 31(2) of SEBI (SAST) Regulations, 2011. 1d
- Disclosures under Reg. 31(1) and 31(2) of SEBI (SAST) Regulations, 2011. 1d
- Disclosures under Reg. 31(1) and 31(2) of SEBI (SAST) Regulations, 2011. 1d
- Disclosures under Reg. 31(1) and 31(2) of SEBI (SAST) Regulations, 2011. 1d
- Disclosures under Reg. 29(2) of SEBI (SAST) Regulations, 2011 2d
Annual reports
Concalls
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Feb 2024Transcript PPT REC
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Nov 2023Transcript PPT REC
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Nov 2021TranscriptNotesPPT
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Aug 2021TranscriptNotesPPT
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Aug 2021Transcript PPT
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Jul 2021TranscriptPPT
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Jun 2021TranscriptNotesPPT
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Apr 2021TranscriptNotesPPT
Subsidiaries:[1]
A. Gee Pee Aerospace and Defence Private Limited
B. Magnatar Aero Systems Private Limited - non operational