MTAR Technologies Ltd

MTAR Technologie Summary Chart Analysis Peers Quarters Profit & Loss Balance Sheet Cash Flow Ratios Investors Documents

MTAR Technologies Ltd

₹ 1,689 -1.90%
23 Dec - close price
mtar.in BSE: 543270 NSE: MTARTECH
About

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]

Key Points

Subsidiaries:[1]
A. Gee Pee Aerospace and Defence Private Limited
B. Magnatar Aero Systems Private Limited - non operational

Website BSE NSE
  • Market Cap ₹ 5,197 Cr.
  • Current Price ₹ 1,689
  • High / Low ₹ 2,249 / 1,495
  • Stock P/E 133
  • Book Value ₹ 228
  • Dividend Yield 0.00 %
  • ROCE 11.4 %
  • ROE 8.37 %
  • Face Value ₹ 10.0
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Pros

  • Debtor days have improved from 126 to 92.0 days.

Cons

  • Stock is trading at 7.42 times its book value
  • Though the company is reporting repeated profits, it is not paying out dividend
  • Company has a low return on equity of 12.6% over last 3 years.
  • Dividend payout has been low at 5.05% of profits over last 3 years
  • Promoter holding has decreased over last 3 years: -13.8%

* 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

Part of BSE SmallCap Nifty Total Market BSE Allcap BSE Industrials Nifty Microcap 250

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024
91 78 99 91 126 160 196 152 167 118 143 128 190
62 55 71 66 91 115 148 119 130 95 125 112 154
Operating Profit 29 23 28 25 35 45 49 34 36 24 18 16 37
OPM % 32% 29% 28% 28% 28% 28% 25% 22% 22% 20% 13% 13% 19%
3 1 2 4 5 6 5 4 1 1 1 1 2
Interest 1 2 3 2 3 4 6 6 5 6 6 5 5
Depreciation 4 4 4 4 4 5 5 5 6 6 6 6 8
Profit before tax 27 19 24 22 33 42 43 27 26 13 7 6 25
Tax % 30% 29% 17% 27% 25% 25% 28% 26% 20% 19% 32% 28% 26%
19 13 20 16 25 32 31 20 21 11 5 5 19
EPS in Rs 6.20 4.33 6.44 5.34 8.19 10.31 9.99 6.44 6.77 3.43 1.65 1.48 6.11
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Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 TTM
95 105 81 81 101 157 184 214 246 322 573 580 580
76 86 79 71 113 125 130 156 163 228 419 468 485
Operating Profit 20 19 2 11 -12 32 54 58 83 94 154 112 95
OPM % 21% 18% 2% 13% -12% 20% 29% 27% 34% 29% 27% 19% 16%
1 2 3 1 1 1 4 4 1 9 20 6 3
Interest 9 9 8 7 5 4 4 5 7 7 14 22 21
Depreciation 9 10 5 5 5 11 11 12 13 14 18 23 25
Profit before tax 2 3 -7 -1 -22 17 42 46 65 82 141 73 52
Tax % 80% 37% -36% -133% -30% 68% 6% 31% 29% 26% 26% 23%
0 2 -5 0 -15 5 39 31 46 61 104 56 39
EPS in Rs 0.12 0.64 -1.64 0.06 -5.34 1.92 13.89 11.70 14.98 19.79 33.84 18.29 12.67
Dividend Payout % 0% 0% 0% 0% 0% 0% 22% 43% 40% 15% 0% 0%
Compounded Sales Growth
10 Years: 19%
5 Years: 26%
3 Years: 33%
TTM: -14%
Compounded Profit Growth
10 Years: 41%
5 Years: 7%
3 Years: 6%
TTM: -62%
Stock Price CAGR
10 Years: %
5 Years: %
3 Years: -9%
1 Year: -24%
Return on Equity
10 Years: 10%
5 Years: 13%
3 Years: 13%
Last Year: 8%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Sep 2024
Equity Capital 28 28 28 28 28 28 28 27 31 31 31 31 31
Reserves 207 185 180 181 166 177 207 198 446 489 590 646 670
59 44 49 26 29 20 29 29 17 96 143 190 184
98 73 48 38 71 56 41 92 93 112 299 139 162
Total Liabilities 392 330 306 273 294 281 305 346 586 728 1,063 1,006 1,046
159 151 145 146 148 152 162 155 167 196 282 332 336
CWIP 8 7 8 8 8 2 6 12 11 44 63 68 80
Investments 25 0 0 0 0 0 0 0 0 62 34 7 7
199 171 152 119 138 127 137 179 409 425 683 600 623
Total Assets 392 330 306 273 294 281 305 346 586 728 1,063 1,006 1,046

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
14 42 56 9 -30 9 55
-1 -33 -12 -22 -145 -88 -54
-14 -7 -41 180 54 32 25
Net Cash Flow -1 2 3 167 -121 -47 27

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Debtor Days 60 56 71 88 140 114 100 105 114 154 132 92
Inventory Days 269 240 382 467 535 524 421
Days Payable 87 35 155 158 179 296 85
Cash Conversion Cycle 60 56 71 88 140 296 305 332 423 510 360 428
Working Capital Days 367 300 418 331 177 132 114 109 190 270 230 253
ROCE % 4% 4% 0% 2% -7% 10% 18% 19% 19% 16% 22% 11%

Shareholding Pattern

Numbers in percentages

19 Recently
Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024
50.25% 50.26% 47.47% 47.18% 47.18% 46.63% 39.14% 39.14% 37.26% 37.26% 36.42% 36.42%
2.90% 6.19% 2.30% 3.18% 3.79% 2.51% 4.52% 8.81% 11.02% 10.57% 7.74% 7.81%
23.81% 23.46% 27.26% 27.74% 28.31% 27.57% 28.02% 24.06% 18.97% 18.07% 15.96% 17.28%
23.04% 20.10% 22.98% 21.90% 20.72% 23.28% 28.32% 27.98% 32.76% 34.10% 39.88% 38.49%
No. of Shareholders 1,26,5561,60,5231,74,3181,84,1071,84,1342,05,4302,11,2272,75,1683,12,4623,13,0193,35,0683,17,125

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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