MTAR Technologies Q2 Results: Net Profit Surges 1,324% YoY to ₹59.8 Crore

Key numbers

Market Cap	₹21,182.6 CrMid Cap
P/E Ratio	158.74Sector PE 52.22
1Yr Price Change	201.93%Aerospace & Defence
RSI	46.08Neutral Zone

Key highlights

• Net profit reached ₹59.8 crore in Q2 FY27, representing a sequential growth of 19.1%
• Revenue from operations stood at ₹407 crore, up from ₹136 crore in the same period last year
• Operating margins improved to 19.3% in Q2 FY27 compared to 18.3% in the previous quarter
• NCLT Hyderabad Bench-II approved the merger of Gee Pee Aerospace and Magnatar Aero Systems effective April 1, 2025
• Order book stood at ₹5,143.30 crore as of June 30, 2026, providing strong revenue visibility

Strong Top-line Performance and Margin Expansion

MTAR Technologies delivered a significant scale-up in operations during Q2 FY27, with revenue from operations hitting ₹407 crore. This marks a sharp climb from the ₹136 crore reported in Q2 FY26. The company managed to expand its operating margin to 19.3%, up from 18.3% in Q1 FY27 and 4.1% in the year-ago period.

Total income for the quarter stood at ₹415 crore, while other income contributed ₹8.5 crore. Profit before tax was recorded at ₹80.3 crore, demonstrating strong operational leverage as the company executes its substantial order book in the high-precision engineering and defence segments.

Strategic Merger and Restatement of Financials

• NCLT approved the merger of Gee Pee Aerospace and Defence Private Limited and Magnatar Aero Systems Private Limited on October 28, 2026.
• The merger is effective from April 01, 2025, and accounted for using the pooling of interests method.
• The company has restated figures for all past periods presented in the results to reflect the common control transaction.
• Management confirmed that the impact of this restatement on the financial results is not material.
• Both subsidiaries are now fully integrated, eliminating the need for separate consolidated financial statements.

Execution of Massive ₹5,143 Crore Order Book

The quarterly performance aligns with the management's earlier guidance of over 80% year-on-year revenue growth for FY27, announced in July 2026. As of June 30, 2026, the company held a robust order book of ₹5,143.30 crore. This backlog is supported by a bidding pipeline in the civil nuclear sector estimated at ₹700–800 crore.

The integration of aerospace subsidiaries is expected to streamline production and engineering capabilities. Despite a high TTM P/E of 158.74 compared to the industry average of 49.13, the stock has delivered a 201.93% return over the past year, reflecting market confidence in its growth trajectory.

Official Statement on NCLT Approval

On October 28, 2026, the Hon'ble National Company Law Tribunal (NCLT), Hyderabad Bench-II has approved a Scheme of Amalgamation (Scheme) of Gee Pee Aerospace and Defence Private Limited and Magnatar Aero Systems Private Limited (wholly owned subsidiaries) with the Company with effect from April 01, 2025.

What to watch next

• Full integration and synergy benefits from the Gee Pee and Magnatar merger through FY27
• Bidding outcomes for the ₹700–800 crore civil nuclear order pipeline expected in upcoming quarters
• Progress toward achieving the guided 80% YoY revenue growth target for the full financial year 2027

“The Company has accounted for this merger under the pooling of interests method for common control transactions as per the requirements of Appendix C to Ind AS 103 Business Combinations.”

MTAR Technologies · financial snapshot

Share price	₹6886.5
Market capitalisation	₹21,182.60 Cr
Revenue (annual)	₹876.21 Cr
Net profit (annual)	₹94.03 Cr
Revenue (latest quarter)	₹360.72 Cr+17.86% vs previous quarter
Net profit (latest quarter)	₹50.23 Cr+13.42% vs previous quarter
P/E (TTM)	158.74×Sector 52.22×
Promoter holding	29.23%-0.13% QoQ
FII holding	20.87%Current quarter

Reference market data from a third-party provider, as of the story. Not a valuation or a recommendation.