Hyderabad-based Mtar Technologies secures ₹386 crore in new clean energy contracts from Bloom Energy.

Bloom Energy Corporation has awarded Mtar Technologies new international contracts in the renewable energy sector valued at Rs 386 crore. Orders totaling $23.28 million, or around Rs 204.86 crore, are anticipated to be fulfilled by March 2026, per the company's regulatory filing. An additional $20.59 million, or around Rs 181.20 crore, would be completed by June 2026. The entire contract value now stands at $43.87 million, or around Rs 386.06 crore.

The orders are a continuation of Mtar Technologies' ongoing business in the sustainable energy industry with Bloom Energy, an existing worldwide client. Mtar Technologies' share price has dropped 15.58 percent so far this year, marking a considerable loss. Mtar clarified that neither the promoters nor the promoter group owns Bloom Energy, the business awarding the contract. According to its Q1FY26 report, Hyderabad-based precision engineering firm Mtar Technologies has already received orders totaling ₹620.9 crore for FY25.

The June quarter saw a dramatic increase in the company's profit. In the first quarter of FY26, profit after tax (PAT) was Rs 10.8 crore, increasing 144.2% from Rs 4.4 crore during the same period the previous year. Profit before tax (PBT) increased by 138.7% to Rs 14.8 crore from the prior year. From Q1 FY25, when it was Rs 128.3 crore, revenue from operations increased by 22.1% to Rs 156.6 crore. The top line was bolstered by strong performance in the clean energy and other industries.