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MTAR Technologies hit 5% upper circuit after the company reported strong Q1 results and informed about a purchase order worth $324.6 million.
The deets: the engineering company has received an amended purchase order worth $324.6 million (around ₹3,100 crore), replacing an earlier order worth $238.8 million. That means MTAR has secured an additional ₹820 crore worth of business without winning a new customer.
The order comes from Bloom Energy, a US-based fuel cell maker that accounts for 55-60% of MTAR's revenue. MTAR manufactures critical precision-engineered components used in Bloom's fuel cell systems, which generate electricity using natural gas.
There’s more: just a day earlier, Bloom Energy reported blockbuster earnings. Its quarterly profit more than doubled analysts' expectations and the company raised its annual revenue guidance for the second time this year.
Demand for its products is exploding as companies build more AI data centres.
As Bloom's business expands, MTAR benefits because it manufactures many of the specialised components that go into those systems.
MTAR's report card: revenue more than doubled to ₹360 crore, while net profit jumped nearly five times to ₹50 crore. Operating profit (EBITDA) surged to ₹85 crore, with margins expanding to 23.5%, showing the company is becoming more profitable as production scales up.
The company had already increased its FY27 revenue growth guidance from 50% to 80%, saying it expects large order wins across businesses and aims to finish the year with an order book of ₹5,000 crore.
