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The Defence Industrial License will allow MTAR Technologies to produce mechanical and electronic subsystems in the Defence sector. This license will not only facilitate the ease of doing business with foreign MNCs on various defence projects but also enable MTAR to partner with these MNCs and serve both domestic and export markets. By taking up projects under Buy (Indian), 'Buy & Make (Indian),' and 'Make' categories of acquisition, MTAR Technologies aims to increase the share of Defence in its revenues.
MTAR has seven strategically based manufacturing units including an export-oriented unit each based in Hyderabad, Telangana. MTAR caters to clean energy — civil nuclear power, fuel cells, hydel & others, space, and defence sectors. The company has a long-standing relationship of over four decades with leading Indian organisations and global OEMs.
The company reported 25.4% jump in consolidated net profit to Rs 20.34 crore on 67.6% increase in net sales to Rs 152.56 crore posted in corresponding quarter last year. As on 30 June 2023, its order book stood at Rs 1,078.8 crore.
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