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    MTAR Technologies: Stock ripe for re-rating

    Robust order pipeline and improved execution augur well for the company

    Jitendra Kumar Gupta
    March 20, 2024 / 02:58 PM IST
    MTAR Technologies: Stock ripe for re-rating

    Emerging segments such as nuclear, space, and products are projected to do better in the next two years, thanks to the recent approvals and a healthy order flow for MTAR Tech

    PRO Only Highlights
    -      Quarterly performance largely backed by improved realisations
    -      Medium-term triggers China plus and protectionist measures for tyre industry
    -      Valuations not inexpensive; but improved medium-term outlook

    Highlights

    • Green energy business impacted because of delays

    • Lower scale leads to lower margins, but expected to improve

    • Strong order book and order inflows support growth

    • Company expecting better performance in the coming quarters

    • Stock trading at 21 times fiscal 2026 estimated earnings

    MTAR (CMP: Rs 1692, Market capitalisation: Rs 5,203 Crore, Stock Rating: overweight), which is a strong play in the clean energy and defence space, has seen a huge de-rating over the past couple of months led by slow execution and

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