Rs 775 Crore Nuclear Order Book: This Multibagger Electrical Equipment Company Secures Rs 126.74 Crore Order From NPCIL
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MTAR Technologies has received purchase orders worth Rs 126.74 crore from Nuclear Power Corporation of India Limited for coolant channel assemblies used in reactor refurbishment. The latest orders take the company's closing nuclear order book to more than Rs 775 crore, the highest in its history
✨ Key Takeaways
On Wednesday, Indian equity benchmark indices traded higher, with the benchmark Nifty 50 index rising 31.55 points (0.13 per cent) to 24,366.10. Amid the market movement, MTAR Technologies share price rose 2.13 per cent to Rs 7,076, gaining Rs 147.50 per share after the company announced the receipt of purchase orders worth Rs 126.74 crore from Nuclear Power Corporation of India Limited (NPCIL).
MTAR Technologies Secures Rs 126.74 Crore Orders
MTAR Technologies has received purchase orders worth Rs 126.74 crore from Nuclear Power Corporation of India Limited (NPCIL). The orders are for the supply of coolant channel assemblies for the refurbishment of the RAPS-4 and MAPS-2 reactors.
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Download Service BrochureThe company stated that the latest orders are a continuation of its regular business from an existing customer. The orders have been awarded by a domestic entity and are classified as purchase orders. The scheduled execution deadline for the orders is May 26, 2028.
Nuclear Order Book Crosses Rs 775 Crore
Alongside the order announcement, MTAR Technologies stated that its closing nuclear order book now stands at more than Rs 775 crore, marking the highest order book in the company's history.
The company said it has secured significant orders in the civil nuclear sector over the past few months. The latest Rs 126.7 crore order is therefore part of a broader flow of orders in the civil nuclear power segment.
Management Commentary
Mr. Parvat Srinivas Reddy, Managing Director of MTAR Technologies, said, “We have secured significant orders in the civil nuclear sector over the past few months. Our closing nuclear order book now stands at more than 775 Crs, the highest in the Company’s history. The sector’s long-term outlook remains promising, and we expect a steady inflow of orders over the coming years”.
No Promoter Interest in Awarding Entity
According to the company's regulatory disclosure, the promoter, promoter group and group companies have no interest in NPCIL, the entity that awarded the orders. The company has also confirmed that the orders do not fall under related-party transactions.
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About MTAR Technologies
MTAR Technologies Limited is a Hyderabad-based engineering company. The company has capabilities in precision engineering and manufacturing for sectors including nuclear power and other strategic industries. The latest order highlights its continued business engagement with NPCIL in the civil nuclear power segment.
The company has described the latest orders as part of its regular business with an existing customer, while the associated press release identifies the orders as being for reactor refurbishment in the civil nuclear power sector.
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Disclaimer: The article is for informational purposes only and not investment advice.