MTAR Technologies Limited has announced a significant boost to its clean energy business with new orders worth Rs. 386.06 crore (USD 43.87 million) from Bloom Energy Corporation, a major player in the fuel cell industry. This development marks a continuation of MTAR's growth in the clean energy sector, particularly in fuel cell technology.

Order Details

The orders, received from an existing international customer, will be executed in two phases:

1. Rs. 204.86 crore (USD 23.28 million) to be completed by March 2026
2. Rs. 181.20 crore (USD 20.59 million) to be fulfilled by June 2026

This phased approach allows MTAR to manage its production efficiently while ensuring timely delivery to Bloom Energy Corporation.

Strategic Importance

Parvat Srinivas Reddy, Managing Director of MTAR Technologies, emphasized the strategic importance of these orders, stating, "The company continues to strengthen its presence in the Clean Energy – Fuel Cells segment, driven by its cutting-edge product portfolio, timely execution, and cost competitiveness, despite macro challenges such as tariffs."

Reddy also expressed optimism about future prospects, adding, "We expect further orders from the fuel cells segment going forward."

Company Background

MTAR Technologies, headquartered in Hyderabad, Telangana, has established itself as a key player in the clean energy, aerospace, and defense sectors. With nine manufacturing units, including an export-oriented facility, MTAR has built strong relationships with leading Indian organizations and global OEMs over five decades.

Market Impact

The announcement of these orders is likely to be well-received by investors, as it demonstrates MTAR's growing foothold in the clean energy market. The company's ability to secure repeat orders from international clients like Bloom Energy Corporation underscores its competitive edge in the fuel cell segment.

Looking Ahead

As the global push for clean energy solutions continues to gain momentum, MTAR Technologies appears well-positioned to capitalize on the growing demand for fuel cell technology. The company's focus on product innovation, timely execution, and cost-effectiveness could be key factors in securing additional orders in this rapidly evolving sector.

While these orders represent a significant milestone for MTAR Technologies, the company maintains a cautious outlook, acknowledging that future performance may be subject to economic changes, tax laws, and other external factors.

As the clean energy transition accelerates worldwide, MTAR's latest achievement highlights the potential for Indian engineering firms to play a crucial role in the global shift towards sustainable power solutions.

MTAR Technologies Limited, a precision engineering company specializing in manufacturing for the defense, aerospace, and energy sectors, has announced its 26th Annual General Meeting (AGM) to be held on September 18, 2025. The meeting, which will be conducted through video conferencing, includes several significant proposals for shareholder consideration.

Key Agenda Items

1. Statutory Auditor Re-appointment: The company proposes to re-appoint M/s. S.R. Batliboi & Associates LLP as statutory auditors for a second term of four years, with an annual fee of Rs. 72.00 lakh.

2. Director Re-appointments: The AGM will consider the re-appointment of Mr. P. Srinivas Reddy and Mr. Akepati Praveen Kumar Reddy, who retire by rotation.

3. Independent Director Continuation: Shareholders will vote on the continuation of Mr. Venkatasamy Gnana Sekaran as an Independent Director beyond the age of 75 years.

4. Whole-Time Director Re-appointments: The company seeks approval for the re-appointment of Mr. Akepati Praveen Kumar Reddy and Mr. Anushman Reddy as Whole-Time Directors for three years, with proposed remuneration packages.

5. Cost Auditor Remuneration: Ratification of the remuneration for M/s. Sagar & Associates as Cost Auditors at Rs. 4.00 lakh for FY 2025-26.

6. Secretarial Auditor Appointment: Proposal to appoint M/s. S.S. Reddy & Associates as Secretarial Auditors for five years at an annual fee of Rs. 2.40 lakh.

Remuneration Proposals

The company has proposed the following remuneration packages for its Whole-Time Directors:

Both directors will also receive perquisites including driver and maintenance costs for personal cars.

Corporate Governance and Transparency

MTAR Technologies has demonstrated its commitment to corporate governance by providing detailed explanations for each proposal in the AGM notice. The company has also issued a corrigendum to include the previously omitted explanatory statement regarding the re-appointment of statutory auditors, showcasing its dedication to transparency and compliance with regulatory requirements.

Conclusion

The upcoming AGM represents a significant event for MTAR Technologies, with important decisions to be made regarding leadership, auditing, and corporate governance. Shareholders are encouraged to participate in the virtual meeting and exercise their voting rights on these crucial matters that will shape the company's future direction.

The AGM is scheduled for September 18, 2025, at 11:00 AM through video conferencing, with remote e-voting available from September 15 to September 17, 2025.