MTAR TechnologiesNSE:MTARTECH
Current view Q4 2026
Makes precision parts for AI-data-centre fuel cells and nuclear reactors. Order book tripled, profit up 76% - real growth. Catch: leans heavily on one US customer and often misses its targets.
Latest exchange filings last 5 · 5 after Q4 2026
- 9 Sep ’26Disclosures under Reg. 29(2) of SEBI (SAST) Regulations, 2011 9 Sep ↗
- 8 Sep ’26Disclosures under Reg. 29(2) of SEBI (SAST) Regulations, 2011 8 Sep ↗
- 7 Sep ’26News paper publication for Notice, Book closure & record date for the Annual General Meeting ↗
- 5 Sep ’26Book Closure & Cut-Off Date For The 27Th Annual General Meeting 5 Sep ↗
- 5 Sep ’26MTAR Technologies submitted its BRSR for FY 2025-26 under SEBI disclosure requirements. ↗
Exchange filings, with the company's own one-line summary, read off the same page as the figures. Screener publishes only the most recent few, so this is the last 5 — not everything filed since your note, and a quiet-looking list is not proof of a quiet quarter. A filing is marked new when it is dated after the end of the quarter your note covers. Not scored, and not a judgement — a routine repayment notice and a takeover sit in the same list.
AI concall report · Q4 2026
The full earnings-call read behind this view — what management promised, what they delivered, and the earning trigger.
Growth Q4 2026
| Metric | This year vs lastYoY · vs Q4 2025 | vs the quarter beforeQoQ, sequential · vs Q3 2026 | 3-year yearly average3Y CAGR · compounded | 5-year yearly average5Y CAGR · compounded |
|---|---|---|---|---|
| Sales | ▲ +67.2% | +10.1% | +15.1% | +28.9% |
| Operating profit | ▲ +82.3% | −3.1% | +3.2% | +17.7% |
| EPS | ▲ +222.9% | +27.7% | −3.1% | +15.3% |
| PAT | ▲ +214.3% | +25.7% | — | — |
Tinted rows drive the Tier. Tier = the weaker of YoY Sales and YoY PAT growth. Here the weaker is Sales at +67.2%, which is ≥ 20% → Tier 1.
QoQ is sequential, not a trend. For most Indian companies the March quarter is seasonally the largest, so a June-quarter fall against it is a calendar effect. Only the YoY column feeds the Tier.
Multibagger potential
Weak34/100
⚠ Your own view here is Positive, and the figures are not. The note above is where the reason lives; the score only sees the numbers.
Earnings are shrinking, not growing. Profit per share fell 3% a year over the window measured. Nothing compounds from here until that turns, whatever the price does.
No forward view — earnings are not compounding, so there is nothing to project.
Multiple moved without the earnings — the return sits in sentiment.
How this is calculated
Band capped: earnings are not growing over the measured window.
Growth rate used: -3.1% — the weakest of EPS / Sales / Op-profit from 3-year EPS CAGR. Latest quarter reads 60%.
How it compares with its rivals Capital Goods · 6 of 60 listed
It earns 15% on its capital, sixth of 6, and it is the most expensive of those shown.
| Company | Price | P/E | Size | ROCE | Profitlast qtr | Saleslast qtr |
|---|---|---|---|---|---|---|
| MTAR Technologie | ₹7,185 | 162.4× | ₹22,101 Cr | 15.1% | +364.7% | +130.4% |
| Apar Inds. | ₹18,319 | 63.7× | ₹76,707 Cr | 31.8% | +77.8% | +29.1% |
| Waaree Energies | ₹2,532 | 18.1× | ₹72,832 Cr | 38.5% | +14.1% | +79.2% |
| Premier Energies | ₹896 | 24.5× | ₹40,681 Cr | 32.7% | +50.5% | +35.3% |
| Emmvee Photovol. | ₹329 | 17.9× | ₹22,775 Cr | 44.8% | +102.6% | +51.3% |
| Diamond Power | ₹367 | 118.3× | ₹21,949 Cr | 24.2% | +197.8% | +133.0% |
Screener's own peer group, from the request already made for the industry P/E. It serves the industry's largest names by market cap, not companies of a similar size, so treat this as context rather than a like-for-like table; this company is always shown. On a phone the price, size and sales columns are dropped rather than pushed off the edge. Not part of the score.
Business quality to Jun 2026
| Are the margins widening? | broadly flat | operating margin 23% → 24% over 3 years |
|---|---|---|
| Did the profit turn into cash? | most of it arrived as cash | 130% last year, 98% over three · free cash flow ₹64 cr, positive in 2 of 5 years |
| Is the growth borrowed? | lightly borrowed | ₹377 cr — 0.46× its own equity (was 0.24×) |
| Is it being collected? | customers are taking longer to pay | 140 days to collect, up 27 in a year · cash cycle 419 days |
| Who has been buying? | the promoters have been selling | promoters 29.4% (−2.3 in a year), 39.1% → 29.4% over 2.8 years · FIIs 24.8% (+17.2) · DIIs 22.4% (−1.2) · shareholders 2,75,168 → 2,58,386 |
| What does it earn on its capital? | earns a fair return on its capital | ROCE 15.1% · ROE 12.4% |
Fetched from the filings, not typed — and deliberately not part of the score. These are the questions the score cannot ask: it reads growth, price and trend, so a company can score well while its profit never becomes cash. Weigh these beside the note, not against the number.
Screener's own checklist not mine, not the score
In its favour
- Company is expected to give good quarter
- Company's working capital requirements have reduced from 143 days to 68.7 days
Against it
- Stock is trading at 26.9 times its book value
- Though the company is reporting repeated profits, it is not paying out dividend
- Promoter holding has decreased over last quarter: -1.09%
- Company has a low return on equity of 9.49% over last 3 years.
- Debtor days have increased from 115 to 140 days.
Generated by screener.in from a fixed checklist — not written by me and not an input to the score. It is here as a second machine opinion to weigh against the note; where it disagrees with the view above, the note is the considered one.