MTAR Technologies Receives License For Defence Subsystem Production

MTAR Technologies Limited receives the Defence Industrial License for production of various mechanical and electronic subsystems in the Defence sector. This will facilitate the ease of doing business with foreign MNCs on various defence projects. The licence will enable the company to partner with foreign MNCs and cater to both Domestic & Export markets by taking up projects under Buy (Indian), ‘Buy & Make (Indian)’ & ‘Make’ categories of acquisition, thereby increasing the share of Defence in our revenues.

MTAR has seven strategically based manufacturing units including an export-oriented unit each based in Hyderabad, Telangana. MTAR caters to Clean Energy — Civil Nuclear Power, Fuel Cells, Hydel & Others, Space, and Defence sectors. The company has a long-standing relationship of over four decades with leading Indian organisations and global OEMs.

MTAR Technologies share

The shares of MTAR Technologies on Wednesday afternoon at 1:05 pm IST were trading at Rs 2,287.95.