Nuclear, space, and defence equipment manufacturer MTAR Technologies Ltd on Thursday announced that the company has secured orders worth Rs 540 crores in Clean Energy segment including civil nuclear power. Shares ended 4 percent higher at Rs 1,679.
“We are delighted with the new order inflows in Clean Energy sector. The company is looking forward to strengthen the Clean Energy vertical further to power a safer future,” MTAR Managing Director Parvat Srinivas Reddy said.
More than half of the company's total order book comes from the clean energy business. The business reported revenue of Rs 69 crore during the April-June period of the current financial year, while for the full year FY22, the revenue from the business stood at Rs 202 crore.
As of June 30, MTAR's order book stood at Rs 765.6 crore. The company received orders worth Rs 202 crore during the April-June period.
Reddy further mentioned in the interview on Wednesday that the company is looking at revenue growth between 55-60 percent in the current financial year. He also spoke about the defence indigenization program, saying that it will be a huge growth opportunity.
"Our numbers are not linked to this defence indigenization program. This is something that will be a bonus for us. But it will be huge for sure. There is no second thought about that," he said.
Besides the $30 million order it has received from Bloom in the US, MTAR has also received orders from GE Renewables and is in talks with IRCON for more orders.
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