Shares of MTAR Technologies Ltd hit a day high of Rs 7,278.50 on 30 October, up 2%, as Q2 sales tripled and net profit grew about 14 times.

Sales first. Revenue from operations came in at Rs 406.77 crore, three times the Rs 135.59 crore it earned a year ago.

Profit grew faster still. In results filed with the exchanges on Thursday, the aerospace and defence components maker reported net profit of Rs 59.83 crore, against just Rs 4.25 crore in the same quarter last year.

That works out to a rise of about 1,300%. Profit from core operations, known as EBITDA, rose to about Rs 99 crore from Rs 17 crore.

Put simply, the company kept around Rs 24 of every Rs 100 in sales as operating profit, against about Rs 12.50 a year earlier. The first half of the financial year tells the same story.

Revenue for the six months to 30 September was Rs 767.49 crore, up from Rs 292.18 crore, while net profit reached Rs 110.06 crore against Rs 9.37 crore.

Management expects the second half to be stronger than the first. It has kept its target of 80% revenue growth for FY27, with operating margins near 24%.

Fuel cells, civil nuclear and hydel projects are expected to drive much of that. There was a separate update too.

The National Company Law Tribunal in Hyderabad approved on 28 October the merger of two wholly owned arms, Gee Pee Aerospace and Defence Private Limited and Magnatar Aero Systems Private Limited, into MTAR.

The merger takes effect from 1 April 2025, so the company will not need to prepare consolidated accounts.

At 10:11 am, the stock was trading at Rs 6,870.00 on NSE, down by 4.03% or Rs 288.50 from the previous close.

It had slipped to an intraday low of Rs 6,801 after the early high. Even so, the shares are up 186.27% so far this year.

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