MTAR Technologies sees strong pipeline of orders
Plans to expand manufacturing capabilities and capacities across verticals.
Hyderabad: Hyderabad-based MTAR Technologies, a precision engineering solutions company engaged in the manufacturing and development of mission critical components and assemblies catering to nuclear power, space & defence and clean energy sectors, is foreseeing a strong order book in the next one year, growing significantly from the current over Rs 350-crore order book the company has.
The company has seven facilities in Telangana and is currently adding a greenfield sheet metal and specialised fabrication facility in Adibatla, which will be ready for commissioning by June 2021, being set up with an investment of about Rs 50-55 crore. This facility will cater to the space and clean energy sectors. The company has acquired nine acres for this facility and may enhance investments and capacities in the next phases, according to a top official.
MTAR has been a key partner to Indian Space Research Organization, Defense Research and Development Organization, Nuclear Power Corporation of India Limited and the US-based Bloom Energy besides catering to several large Indian entities such as Bharat Dynamics and Hindustan Aeronautics in aerospace and defence.
In an exclusive interview, Srinivas Reddy, managing director & promoter, MTAR Technologies, told Telangana Today, “We see growth opportunities in space and defence. We have supplied liquid propulsion engines for PSLV – C25, PSLV-C49, GSLV Mark VII for the Mars Orbiter Mission ‘Mangalyaan’, ‘Chandrayaan Mission’ and the recently launched Earth Observation Satellite EOS-01. We are also involved in Agni missile and several other defence projects. Our R&D team is working on several indigenisation programmes in defence, announced by the Government of India.”
The company is also working with Israel-based Rafael Advanced Defense Systems and Elbit Systems on the exports front.
Reddy added, “Having started our operations in 1970, we have always focused on indigenisation of systems and components while catering to the core sectors. We have indigenised the core of the nuclear reactors through assemblies and components. We have supplied reactors for a project recently and are getting another 14 reactors which are in pipeline, announced by Nuclear Power Corporation of India Limited (NPCIL), where MTAR will be playing a key role. We are also actively involved in refurbishment and maintenance of reactors. MTAR is also offering clean energy solutions to Bloom Energy (US) and exploring new overseas markets soon.”
According to market sources, the company is going for an IPO to potentially raise about Rs 600-650 crores in March to meet its working capital requirements and debt.
“We will keep adding capabilities in the existing sectors and will be adding more customers in the overseas markets. We will keep building collaborations and aim for more import substitution across sectors. We will primarily grow organically,” he added.
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