Motilal Oswal recommends buy on MTAR Technologies with ₹9,000 target
Business
Motilal Oswal is pretty upbeat about MTAR Technologies, recommending a buy with a target price of ₹9,000 per share.
The company's Q2 FY27 numbers were strong: revenue nearly tripled and EBITDA jumped almost six times from last year, thanks to big gains in fuel cell sales and growth in its Aerospace and Defense business.
MTAR order book over fourfold ₹5,980cr
MTAR's order book has grown more than fourfold to ₹59.8 billion, with fresh orders pouring in.
It is scaling up fuel cell production and seeing strong demand from the nuclear sector, plus aerospace revenue is set to double in FY27 (this fiscal year).
Motilal Oswal estimates an 85% CAGR in revenue over FY26-FY28, raising its earnings forecasts too.
All signs point to solid growth across the board for MTAR.