te Green Hydrogen push brightens prospects for MTar Technologies, says MD Parvat Srinivas Reddy | Zee Business

Green Hydrogen push brightens prospects for MTar Technologies, says MD Parvat Srinivas Reddy

Government is making very bold move towards building the infrastructure and the demand would increase in the next 1-2 years, the MD Parvat Srinivas Reddy said

Green Hydrogen push brightens prospects for MTar Technologies, says MD Parvat Srinivas Reddy
MTAR is a precision engineering company based out of Hyderabad. The company manufactures equipment for defence, aerospace and nuclear sectors

Government of India’s push to ‘Green Hydrogen Mission’ will help prospects of MTar Technologies Limited as the products that the company manufactures are aligned to the scheme, Parvat Srinivas Reddy, company’s Managing Director and Promoter told Zee Business Managing Editor Anil Singhvi in an exclusive interview. 

He said that Green Hydrogen is the future of India and felt that the prospects are very encouraging for the company.  

MTAR is a precision engineering company based out of Hyderabad that manufactures equipment for defence, aerospace and nuclear sectors.  

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In terms of prospects, he stated that the company's focus will be on technology and as the market is huge - "sky is the only limit" for them.  

MTar Technologies currently manufactures electrolytes and it is right on track with the requirement, the promoter said.  

The company has started receiving orders and the existing capacity will be ramped-up by the end of 2023, he further added.  

He shared that the demand from overseas is high, and it will take India another one to two years to gain ground. 

He said that the government is making bold moves towards building the infrastructure and the demand would increase in the next 1-2 years. And added that states are also working towards as a result of the impetus provided by Government of India.    

Looking at all this, he opined that the company will comfortably achieve five times of current revenues over the next 5 years.  

He said that the company gave a revenue guidance of 55-60 per cent over the previous year and it is sticking to that.  

MTar Technologies shares today ended at Rs 1,672 on the NSE and were up by Rs 48.25 or nearly 3 per cent from the Wednesday closing price.

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Market expert Ajay Bagga said that the Green Hydrogen Mission is a huge opportunity for Indian companies to excel in this segment. Through PLI scheme a big push is being given to the fuel.  

Anil Singhvi, while lauding the company and the potential it offers, had recommended this stock as a ‘Pick of the Year’. He said that the company boasts of top class and clean management.  

Written By: ZeeBiz WebTeam
Edited By: Hemant Abhishek
Updated: Thu, Jan 12, 2023
04:54 pm
New Delhi, ZeeBiz WebDesk

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