The net sales increased by 67.64 per cent to Rs 152.56 crore and net profit increased by 25.41 per cent to Rs 20.34 crore in Q1FY24 compared to Q1FY23. In FY23, the net sales increased by 78.18 per cent to Rs 573.75 crore and net profit increased by 69.89 crore compared to FY22.

The company has delivered returns of 39 per cent over the past year and stellar returns of 136 per cent over the past 3 years.

The net sales increased by 67.64 per cent to Rs 152.56 crore and net profit increased by 25.41 per cent to Rs 20.34 crore in Q1FY24 compared to Q1FY22. In FY23, the net sales increased by 78.18 per cent to Rs 573.75 crore and net profit increased by 69.89 crore compared to FY22.

Shares of the company gained more than 25 per cent in the last six months.

As of the quarter ended March 2023, the promoters of MTAR Technologies held approximately 46.63 per cent stake in the company. What has piqued interest is the fact that since the quarter ended June 2022, the percentage of pledged shares in relation to promoter holding has been on the rise.

The shares were purchased at an average price of Rs 1,880.02 apiece, taking the transaction value to Rs 247.22 crore.

The shares of the company closed in the upper circuit today, up 3.07 per cent to Rs 1731 per share.

BSE Smallcap index closed on a flat note at 27,847.11, marginally down by 0.02 per cent.