MTAR Technologies has reported a 14% increase in revenue compared to the previous year, as well as a significant 48% increase compared to the previous quarter. This growth can be attributed to improved realizations.

However, there has been a contraction of 230 basis points in EBITDA margins compared to the previous year. On a positive note, there has been a recovery with a 640 basis point improvement in EBITDA margins compared to the previous quarter.

The company's order book remains strong at Rs 940 crore, with inflows of Rs 250 crore during the quarter. In light of the current situation, MTAR has revised its revenue growth guidance for FY26 to 20%. Despite this adjustment, it is expected that margins will improve to 21% in the second half of FY25, which will contribute to enhanced profitability.

The stock is currently valued at 42 times its estimated earnings for fiscal 2026, resulting in a market capitalization of Rs 5,518 crore. The stock rating remains underweight as the market assesses the medium-term outlook in light of ongoing concerns.