Shares of MTAR Technologies Ltd.'s plunged over 16% on Wednesday after its net profit dropped 53% in the fourth quarter of financial year 2024.
The company posted a profit of Rs 4.9 crore in the March quarter in comparison to Rs 10.4 crore in the December quarter, according to an exchange filing. Its revenue rose 21% to Rs 581 crore, which was below the guided number of Rs 610 crore.
The Ebitda margin of 19.4% also missed the guidance of 24%. The management attributed the miss in margin to deferment of orders in the clean energy segment and delay in execution of projects in the space vertical.
Guidance Cut Indicates Weakness
The management has revised its outlook for financial year 2025. The revised revenue growth guidance stands at 30–35% versus previous guidance of 45–50%. It also revised its Ebitda margin guidance to 21–23% for the current fiscal vs 24–25% earlier.
Key Levels To Watch
Resistance: Rs 2,200 (Four-day high)
Support: Rs 1,730 (Today's low)
MTAR's stock fell as much as 16.12% during the day to Rs 1,730 apiece on the NSE. It was trading 8.46% lower at Rs 1,888 per share, compared to a 0.55% decline in the benchmark Nifty at 10:15 a.m.
Analyst Recommendations
RECOMMENDED FOR YOU
Stock Market Today: Nifty, Sensex Decline For Second Week; HUL, ITC Top Draggers
Nov 14, 2024
Stock Market Today: Nifty, Sensex Fall Over 1% To Extend Losses To Fifth Day; RIL, HDFC Bank Biggest Laggards
Nov 13, 2024
RVNL Share Price Snaps Three-Day Rally To Fall Over 7% After Q2 Profit Miss
Nov 08, 2024
Amara Raja Share Price Falls As Nuvama Cuts Target Price After Q2 Profit Miss
Nov 05, 2024
POPULAR