The company reported a net profit of ₹50.2 crore for Q1FY27, compared with ₹10.8 crore a year earlier. Its revenue more than doubled to ₹360 crore from ₹157 crore in the corresponding period last year.
Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA) surged to ₹85 crore from ₹28 crore a year ago, while EBITDA margin expanded to 23.5% from 18.1%, indicating improved operating leverage.
The company’s profit before tax (PBT) more than quadrupled to ₹67.4 crore during the quarter from ₹14.8 crore a year ago, while total income rose to ₹368.6 crore from ₹157.2 crore. Finance costs increased to ₹15.8 crore from ₹5.8 crore in the year-ago period, reflecting higher borrowing costs.
The quarterly performance comes a day after key customer Bloom Energy reported better-than-expected earnings and raised its full-year revenue guidance for the second consecutive quarter.
Bloom Energy reported quarterly earnings that were more than double analysts’ expectations and raised its full-year revenue guidance for the second consecutive quarter.
Earnings Per Share (EPS) for Bloom Energy during the quarter stood at $0.62, more than double the $0.28 projection.
The company has now raised its full-year sales projections to $3.9 billion to $4.2 billion, from $3.4 billion to $3.8 billion earlier. Back in February, it had projected annual sales to be between $3.1 billion to $3.3 billion.
Bloom Energy said that the systems are in high demand to power data centres. The company manufactures fuel cells that produce electricity from natural gas.
“Demand is compounding,” Chief Executive Officer KR Sridhar said in a conference call with analysts. “New customers are arriving at a faster pace than ever.”
Shares of Bloom Energy, which fell over 11% in regular trade, jumped as much as 13% in extended trading after the results were announced.
Bloom Energy’s results also assume greater significance as MTAR Tech derives 55% to 60% of its topline from Bloom. It supplies critical components to Bloom Energy. Nearly the entire Clean Energy-Fuel Cell order book of MTAR Tech comes from Bloom.
During its March-quarter earnings, MTAR Tech raised its FY27 revenue growth guidance to 80% from 50%, citing confidence in order inflows across business verticals.
The management had said that it is confident of receiving large orders across business verticals this financial year and expects to close out the year with an order book of ₹5,000 crore, which is double the current size.
MTAR Tech, which remains under the Stage IV Long-Term Additional Surveillance Measures (ASM) framework with a 5% daily price band, ended about 5% lower at ₹5,194 on Wednesday.
The stock has declined more than 30% in July, marking its worst monthly performance since listing in 2021, and remains around 40% below its record high of ₹8,714.
