MTAR Technologies, a prominent player in precision engineering solutions, today revealed that it has secured fresh orders valued at ₹200 crore across its Renewable Energy, Aviation, and Space divisions. This considerable influx of contracts indicates positive growth opportunities for the company, especially in the rapidly expanding renewable energy sector.
A significant portion of the latest orders, roughly ₹157.4 crore, originates from Bloom Energy, a key innovator in fuel cell technology. This strengthens MTAR’s standing as a reliable partner within the renewable energy sphere. Furthermore, the company has obtained its initial contract, worth ₹2.7 crore, from Fluence, a firm specializing in energy storage solutions, marking MTAR’s entrance into this swiftly developing segment of the renewable energy market.
In addition, MTAR Technologies is set to deliver ₹22 crore worth of services to the Civilian Nuclear Energy industry, and ₹17.9 crore to the Space industry. The Space sector orders include those from ISRO, alongside additional multinational aviation clients.
Parvat Srinivas Reddy, the CEO of MTAR Technologies, mentioned that the company foresees substantial expansion in its Renewable Energy and Aviation sectors, supported by a healthy order backlog. He also noted that MTAR is in advanced discussions regarding various other projects, which are anticipated to further reinforce the order book in the upcoming quarters. MTAR projects considerable orders within Civilian Nuclear Energy by the close of fiscal year 2025.
The majority of these contracts are expected to be fulfilled by the conclusion of fiscal year 2026. This new business will equip MTAR Technologies with improved revenue predictability and strengthens its dedication to contributing to India’s increasing expertise in renewable energy and cutting-edge technology sectors.
About MTAR Technologies Ltd:
MTAR Technologies Ltd is a well-known Indian company in the precision engineering field, operating eight production facilities situated in Hyderabad, Telangana. The company serves clients in the Renewable Energy, Space, and Defense industries. MTAR maintains long-term partnerships with leading Indian entities and global OEMs.
Disclaimer: The information provided is for educational purposes only and does not constitute financial advice. We are not registered financial advisors. Please conduct your own research and consult a qualified advisor before making investment decisions. Any investment decisions you make based on this information are solely at your own risk.
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Published on: February 5, 2025 at 8.00PM GMT.
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