Slide 1: MTAR Technologies Limited Investor Presentation – November 2025
MTAR Technologies Limited Please click here for corporate video Investor Presentation – November 2025
Slide 2: Safe Harbor
Safe Harbor This presentation and the accompanying slides (the “Presentation”), which have been prepared by MTAR Technologies Limited (the “Company’), have been prepared solely for information purposes and do not constitute any offer, recommendation or invitation to purchase or subscribe for any sec
Slide 3: A leader in critical and differentiated engineered products
A leader in critical and differentiated engineered products Strong Order Book Position Q2 & H1FY26 Financial Snapshot Working Capital Management Well Balanced Portfolio Q2 & H1FY26 Financial Performance
Slide 4: Strong Order book Position
Strong Order book Position Receipt of Major New Orders Order book Build-Up (Rs. in Crs) Existing Business Received Rs. 497.7 Crs of orders in this quarter in various sectors including Clean Energy – Civil Nuclear Power, Fuel 131.3 1,296.6 cells and Hydel, Aerospace & Defence, Products and others 497
Slide 5: New Customers added over the past 2-3 years
New Customers added over the past 2-3 years MNC Aerospace Clean Energy – Battery Storage Systems Updates • First articles execution is in progress for Weatherford and IAI Clean Energy – Hydro • Commenced batch production Power, Wind Energy of new products for GKN and Others Aerospace, Rafael, Elbit,
Slide 6: Q2 & H1 FY26 Financial Performance
Q2 & H1 FY26 Financial Performance Revenues Revenues (Rs. (Rs. Crs) Crs) Gross Profit (Rs. Crs) EBIDTA (Rs. Crs) 47.5% 51.2% 47.6% 52.8% 19.4% 12.5% 16.8% 15.5% 318.5 151.7 154.3 292.2 53.4 45.4 190.2 90.3 36.8 135.6 69.4 17.0 Q2 FY25 Q2 FY26 H1 FY25 H1 FY26 Q2 FY25 Q2 FY26 H1 FY25 H1 FY26 Q2 FY25 Q
Slide 7: Working Capital Management
Working Capital Management Net Working Capital (in Days) Particulars (Days) Q2FY26 Q1FY26 300 274 267 Receivables 87 126 250 229 222 200 Inventory 282 222 157 150 146 133 139 128 RM 154 112 110 100 89 90 WIP 128 110 50 0 Dec-24 Mar-25 Jun-25 Sep-25 Payables 128 87 Other than WIP WIP Total Working Ca
Slide 8: Well-balanced Portfolio (1/2)
Well-balanced Portfolio (1/2) Revenue in Rs. Crs Clean Energy – Civil Nuclear Clean Energy – Fuel Cells, Aerospace & Defence Hydel & Others Power 14% 8% 11% 3% 4% 15% 9% 7% 14% 12% 63% 77% 61% 62% 72% 61.9 93.2 441.7 416.9 351.2 45.7 43.8 64.5 56.4 58.7 201.6 18.4 97.4 16.6 5.1 FY22 FY23 FY24 FY25 Q
Slide 9: Well-balanced Portfolio (2/2)
Well-balanced Portfolio (2/2) Revenue in Rs. Crs Products & Others Geographical Break-up 6% 4% 19% 22% 12% Domestic Export 147.5 24% 22% 108.3 76% 78% 23.7 18.3 16.5 Q2FY26 H1FY26 FY22 FY23 FY24 FY25 Q2 FY26 9
Slide 10: Q2 FY26 Consolidated Profit & Loss Statement
Q2 FY26 Consolidated Profit & Loss Statement Particulars (Rs. Crs) Q2 FY26 Q2 FY25 Y-o-Y Q1 FY26 Q-o-Q H1FY26 H1FY25 Y-o-Y Revenue from Operations 135.6 190.2 -28.7% 156.6 -13.4% 292.2 318.5 -8.3% Cost of Materials Consumed 81.8 88.2 92.8 174.5 157.8 Changes in Inventories -15.6 11.7 -21.1 -36.7 8.9
Slide 11: Consolidated Balance Sheet
Consolidated Balance Sheet EQUITY & LIABILITIES (Rs. Crs) Sep-25 Mar-25 ASSETS (Rs. Crs) Sep-25 Mar-25 Equity Share Capital 30.8 30.8 Property, Plant and Equipment 475.4 436.1 Other Equity 713.3 698.2 Capital Work-in-progress 14.5 53.2 Total Equity 744.1 728.9 Right-of-use assets 10.6 0.0 Financial
Slide 12: Consolidated Cash Flow Statement
Consolidated Cash Flow Statement Particulars (Rs in Cr) 30-Sep-25 30-Sep-24 Operating profit before working capital changes 47.7 54.8 Changes in working capital 0.6 -27.0 Cash generated from operations 48.3 27.7 Direct taxes paid (net of refund) -8.5 -8.8 Net Cash from Operating Activities (A) 39.8
Slide 13: Annexure
Building Nation with Exceptional Engineering Annexure
Slide 14: A leader in critical and differentiated engineered products
A leader in critical and differentiated engineered products Historical Profit & Loss Consolidated Balance Sheet Abridged Cash Flow Statement Performance in Charts Capital Disciplined Approach
Slide 15: Historical Consolidated Profit & Loss Statement
Historical Consolidated Profit & Loss Statement Particulars (Rs. Crs) FY25 FY24 FY23 FY22 Revenue from Operations 676.0 580.8 573.8 322.0 Cost of Materials Consumed 349.5 318.4 315.6 157.4 Changes in Inventories of Finished Goods and Work in Progress -7.6 -16.0 -46.1 -41.2 Gross Profit 334.1 278.4 3
Slide 16: Historical Balance Sheet – Equity & Liabilities
Historical Balance Sheet – Equity & Liabilities EQUITY & LIABILITIES (Rs. Crs) Mar-25 Mar-24 Mar-23 Mar-22 Equity Share Capital 30.8 30.8 30.8 30.8 Other Equity 698.2 645.6 589.4 489.0 Total Equity 728.9 676.3 620.1 519.7 Financial Liabilities Borrowings 81.1 97.0 77.7 25.9 Provisions 4.7 2.6 2.6 0.
Slide 17: Historical Balance Sheet - Assets
Historical Balance Sheet - Assets ASSETS (Rs. Crs) Mar’25 Mar’24 Mar-23 Mar-22 Property, Plant and Equipment 436.1 339.8 290.2 195.4 Capital Work-in-progress 53.2 72.9 64.4 43.8 Intangibles Assets 2.5 0.7 0.8 1.0 Financial Assets (i) Investments 0.0 0.0 0.0 0.0 (iii) Other Financial Assets 4.5 2.6 2
Slide 18: Abridged Consolidated Cash Flow Statement
Abridged Consolidated Cash Flow Statement Net Cash Flow from Operating Particulars (Rs in Cr) 31-Mar-25 31-Mar-24 31-Mar-23 31-Mar-22 Activates CFO/Revenue from Operation Operating profit before working capital changes 123.6 115.8 168.8 96.1 101.3 Changes in working capital -8.9 -37.2 -129.1 -108 Ca
Slide 19: Performance in Charts
Performance in Charts Revenues (Rs. Crs) EBITDA (Rs. Crs) PAT (Rs. Crs) +9% -4% +28% 676.0 154.0 103.4 573.8 580.8 112.7 120.9 94.4 60.9 56.6 322.0 53.4 FY22 FY23 FY24 FY25 FY22 FY23 FY24 FY25 FY22 FY23 FY24 FY25 Gross Profit Margins (%) EBITDA Margins (%) PAT Margins (%) 63.9% 29.3% 18.9% 18.0% 26.
Slide 20: Capital Disciplined Growth
Capital Disciplined Growth RoCE* (%) RoE# (%) Debt to Equity (x) 19.9% 18.2% 0.28 0.24 0.23 14.2% 12.5% 11.7% 0.18 11.5% 8.7% 7.6% Mar-22 Mar-23 Mar-24 Mar-25 Mar-22 Mar-23 Mar-24 Mar-25 Mar-22 Mar-23 Mar-24 Mar-25 *RoCE = EBIT/Avg. Capital Employed #RoE = Net Profit/Avg. Total Equity Capital Employ
Slide 21: Thank You
Thank You MTAR Technologies Limited CIN: L72200TG1999PLC032836 Ms. Srilekha Jasthi – Head, Strategy & Investor Relations +91 76740 21818 srilekha@mtar.in Mr. Parth Patel Parth.patel@in.mpms.mufg.com Ms. Vidhi Vasa MUFG Intime India Private Limited Vidhi.vasa@in.mpms.mufg.com A part of MUFG Corporate