Shares of MTAR Technologies pared all losses to trade 1 percent higher to Rs 1,709 in the afternoon on June 19 after the precision engineering company announced a 10-year supply agreement with Switzerland-based Weatherford Products GMBH for Whipstock assemblies and other critical components.

Deliveries under the contract are expected to begin with Rs 10 crore worth of execution in FY26, scaling up sharply to around Rs 90 crore annually from FY27. The company plans to fulfil this order from a new facility in Adibatla, Telangana, which is set to go live by June 2026.

“This is a significant step in our journey to broaden both our product range and customer base,” said Managing Director and Promoter Parvat Srinivas Reddy. He added that discussions are underway with other clients to sign additional long-term agreements that could further boost growth momentum.

While MTAR's FY25 revenue rose 16.4 percent year-on-year to Rs 676 crore, it missed its own guidance of Rs 725 crore, per CNBC TV-18. EBITDA rose 7.2 percent to Rs 120.9 crore, but margins slipped 150 basis points to 17.9 percent, falling short of the projected 21 percent. The company expects margin expansion going forward as scaled production of prototype orders kicks in.

In contrast, its March quarter performance was far stronger, with revenue rising 28 percent, EBITDA nearly doubling, and net profit almost tripling year-on-year. Margins expanded by 600 basis points during the quarter. Notably, 80 percent of MTAR’s revenue now comes from exports.

At about 2:45 pm, shares of the company were trading at Rs 1,701, higher by 0.5 percent from the last close on the NSE. MTAR shares have rallied nearly 29 percent in the last three months.