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Subscribe to MTAR Technologies: ICICI Direct

ICICI Direct has come out with its report on MTAR Technologies. The research firm has recommended to ''Subscribe'' the ipo in its research report as on March 02, 2021.

March 03, 2021 / 05:51 PM IST
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ICICI Direct IPO report on MTAR Technologies

MTAR Technologies, a precision engineering solutions company, was founded in 1970. The company manufactures hi-precision indigenous components, subsystems and assemblies having components with close tolerances (5-10 micros). Currently, the company has seven manufacturing units in Hyderabad with more than 400 machines, 891 permanent employees and 248 contractual workmen. At the helm of affairs is Promoter and Managing Director, Parvat Srinivas Reddy. MTAR Technologies operates in three segments viz. nuclear, space & defence and clean energy and manufactures 14 products in the nuclear sector, six in space & defence and three in the clean energy sector.

Valuation and Outlook

Taking cognisance of the huge growth opportunities for MTAR and a high margin business that would aid flow of profitability to the bottomline, we recommend SUBSCRIBE rating on the issue. The company is available at a P/E of 56.5x (post issue basis) on FY20 PAT.

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