MTAR Technologies shares down 3% despite ₹310 crore nuclear equipment order for Kaiga reactors

MTAR Technologies Ltd. has received an additional order worth ₹310 crore from Megha Engineering & Infrastructures Ltd. for the supply of equipment to India’s civil nuclear power sector, the company announced on Thursday, December 18. The stock though, trades with losses of over 3%.

In an exchange filing, the company said the order is for various equipment required for the Kaiga Units 5 and 6 nuclear reactors. Deliveries will be made in a staggered manner up to February 2030.

The latest order is in continuation of an earlier disclosure made on December 6

. With this, MTAR’s total order inflow for the Kaiga 5 and 6 reactors this month has risen to ₹504 crore, including the earlier ₹194 crore contract, Parvat Srinivas Reddy, Managing Director of MTAR said.

Commenting on the development, Reddy said the company expects strong growth in the nuclear power segment, supported by a "robust" order book and "favourable" industry outlook.

MTAR Technologies operates in high-precision engineering segments catering to civil nuclear power, clean energy, space and defence. Orders in the nuclear segment are typically long-gestation projects and provide multi-year revenue visibility.

The Hyderabad-based company raised FY26 revenue growth guidance to 30-35% from 25% in November, as it reported a revenue of ₹135 crore, margin of 12.6% and profit after tax at ₹4.2 crore in the September quarter.

Reddy claimed that the second half of FY26, "would be almost like twice of revenue as a first half." He added, "we would maintain our margins at 21% plus minus 100 basis points.”

Shares of MTAR Tech are off the highs of the day, currently trading 3.1% lower at ₹2,247.2. The stock is down 13% in the last one month.