MTAR Technologies has announced the signing of a significant long-term contract with Weatherford Products GMBH, a global oilfield services company.
The international agreement spans 10 years and is expected to yield annual revenues of approximately ₹90 crores starting from FY 2027. Ahead of that, the company anticipates executing ₹10 crores worth of orders in FY 2026.
These orders will involve the manufacturing of Whipstock assemblies and other critical components, which will be carried out at MTAR’s upcoming facility in Adibatla, set to become operational by June 2026.
The partnership marks a major step forward in MTAR’s global expansion and highlights its capabilities in delivering complex engineering solutions for the energy sector. The contract does not involve any related party transactions or promoter interest, reinforcing its transparency and strategic significance.
“This milestone reflects our commitment to expand our product base and enhance our customer portfolio across diverse sectors. We are in discussions with several other customers to enter into long-term agreements for various products that shall accelerate our growth momentum. Our expanding product portfolio underscores our dedication to innovation, quality and excellence in service”, said Parvat Srinivas Reddy, Managing Director & Promoter, MTAR Technologies Limited.
In the meantime, MTAR Technologies shares opened at ₹1,690.00 today and, at the time of writing, touched an intraday high of ₹1,708.90 and a low of ₹1,656.70. The stock is trading well below its 52-week high of ₹2,075.65, while remaining significantly above its 52-week low of ₹1,155.60.
