Shares of MTAR Technologies surged more than 6% in early morning trade after the company announced that it had received blanket purchase orders worth USD 238.76 million, equivalent to approximately ₹2,278.96 crore at an exchange rate of ₹95.50 per US dollar.
The company informed stock exchanges through a regulatory filing under SEBI LODR Regulations that the orders were awarded by an international customer. However, MTAR Technologies did not disclose the customer’s identity due to confidentiality obligations.
According to the filing, the orders are part of the company’s regular business dealings with an existing client. The purchase orders are classified as international blanket purchase orders, while the execution timeline will be decided at a later stage.
The company further clarified that neither the promoter group nor group companies have any interest in the entity awarding the contract. MTAR Technologies also stated that the transaction does not fall under related-party transactions.
The latest order win is seen as a major positive for the precision engineering and clean energy equipment manufacturer, strengthening its long-term revenue visibility and international business pipeline.