Dealer Study
March 03, 2021 / 02: 43 PM IST
KR Choksey IPO file on MTAR Technologies
MTAR Technologies is a main national player within the precision engineering industry, basically engaged within the manufacturing of mission-excessive precision system with terminate tolerance and in excessive assemblies through its precision machining, assembly, in actual fact expert fabrication, making an are attempting out, and quality adjust processes. Since its inception, MTAR Technologies has vastly expanded its product portfolio together with excessive assemblies i.e., Liquid propulsion engines to GSLV Notice III, Crude Conceal Meeting & Airframes for Agni Packages, Actuators for LCA, strength devices for gas cells, Gas machining head, Bridge & Column, Pressure Mechanisms, Thimble Kit, and quite a bit others. A broad preference of complex product portfolios meets the diverse requirements of the Indian nuclear, Protection, and House sector. ISRO, NPCIL, DRDO, Bloom Energy, Rafael, Elbit, and quite a bit others. are one of the most love customers. For the time being, the firm has 7 teach-of-the-art work manufacturing facilities in Hyderabad, Telangana that undertake precision machining, assembly, in actual fact expert fabrication, brazing and warmth medication, making an are attempting out and quality adjust, and other in actual fact expert processes.
Valuation and Outlook
At the upper band of mutter label, MTAR will alternate at a Imprint/EPS loads of of 23.3x of its annualized 9MFY21 revenue, which is at a reduction to its listed behold bask in Schaeffler India (55.5x), SKF India (41.1x), Timken India (33.9) and L&T (40.2x). We deem that present label band is undervalued, taking a peek on the expansion potential within the company, we await itemizing beneficial properties and presents a ‘SUBSCRIBE’ rating to MTAR Technologies IPO.
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