MTAR Technologie Q1 FY27 Results (NSE: MTARTECH)
Signal: Growth reaccelerated
The read
The trajectory remains sharply positive: revenue reached ₹360.72 Cr, +130.4% YoY and +17.9% QoQ, following ₹278 Cr in Q3FY26 and ₹306 Cr in Q4FY26; the key inflection is sustained scale-up into Q1FY27, but the reported consolidated PAT/XBRL inconsistency must be resolved before judging earnings quality.
| Metric | Value | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹360.72 Cr | 130.4% | 17.9% |
| EBIT | ₹83.25 Cr | N/A | |
| Net profit | ₹0 Cr | N/A | |
| EPS | ₹16.33 | 365.2% | |
| EBIT margin | 23.1% |
P&L walk
Revenue rose to ₹360.72 Cr, +130.4% YoY and +17.9% QoQ; authoritative XBRL EBITDA was ₹92.94 Cr at a 25.8% margin, while the XBRL PAT field is ₹0 despite EPS of ₹16.33 and the press release reporting PAT of ₹50.2 Cr.
Key positives
- Revenue of ₹360.72 Cr was up 130.4% YoY and 17.9% QoQ, extending the step-up from ₹306 Cr in Q4FY26.
- Authoritative XBRL EBITDA was ₹92.94 Cr at a 25.8% margin, while revenue increased 130.4% YoY, indicating substantial earnings conversion at the reported operating level.
- Management stated that quarterly performance remained in line with the growth guidance for the current fiscal year and that each key business vertical is positioned for its next growth phase.
Key concerns
- The XBRL consolidated PAT value is ₹0 despite EPS of ₹16.33 and the press release reporting PAT of ₹50.2 Cr; this data inconsistency prevents a clean consolidated earnings-quality assessment.
- The filing does not disclose segment revenue, order inflows, order book, volumes, capacity utilisation or capex, limiting visibility into whether the 130.4% revenue growth is volume-, mix- or execution-led.
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