MTAR Technologies (MTARTECH) Q2 24/25 earnings summary

Executive summary

• Achieved consolidated revenue of ₹190.2 Cr (INR 1,901.92 million) in Q2 FY25, up 14% year-over-year; H1 FY25 revenue at ₹318.5 Cr, nearly flat versus H1 FY24.

• Net profit for Q2 FY25 was ₹18.8 Cr (INR 187.73 million), down from ₹20.46 Cr (INR 204.59 million) in Q2 FY24.

• Order book stood at ₹942.25 Cr as of September 30, 2024, with ₹247.02 Cr new orders in Q2 FY25 across clean energy, space, and defense.

• The business operates in a single segment, including subsidiaries Gee Pee Aerospace and Defence Private Limited and Magnetar Aero Systems Private Limited.

• Maintains a well-balanced portfolio with significant exposure to clean energy, space, and defense sectors.

Financial highlights

• Q2 FY25 EBITDA at ₹36.8 Cr, up 2% year-over-year; EBITDA margin at 19.4% versus 21.6% in Q2 FY24.

• Q2 FY25 PAT at ₹18.8 Cr, down 8% year-over-year; PAT margin at 9.9% versus 12.3% in Q2 FY24.

• Gross profit margin improved to 47.5% in Q2 FY25 from 45.6% in Q2 FY24.

• H1 FY25 EBITDA at ₹53.4 Cr, down 24% year-over-year; H1 FY25 PAT at ₹23.2 Cr, down 43% year-over-year.

• Earnings per share (EPS) for Q2 FY25 stood at INR 6.10, compared to INR 1.44 in Q2 FY24.

Outlook and guidance

• Focus remains on expanding clean energy and defense portfolios, leveraging strong order book.

• ESG compliance and sustainability initiatives are integral to business strategy.

• The Board and management reaffirmed compliance with Indian Accounting Standards and regulatory requirements.