MTAR Tech plays a critical role in Bloom Energy’s supply chains. As much as 55% – 65% of its revenue comes from Bloom Energy in the US. MTAR is a key strategic supplier to Bloom Energy, supporting its solid oxide fuel cell and solid oxide electrolyser programmes. It is also the sole supplier for Bloom Energy’s electrolyser units.
Increasing use of artificial intelligence is driving power consumption. As per Bloom Energy and Oracle’s deal, an initial 1.2 GW capacity has been contracted, with deployment already underway and will continue into the next year, the Reuters report stated.
Fuel cells offer cleaner alternative to traditional power by generating electricity via chemical reaction.
In a recent interaction with CNBC-TV18 on April 9, MTAR Tech MD Srinivas Reddy said that the company is on track to achieve its 50% revenue growth guidance for financial year 2027. He is also anticipating an order book of ₹2,800 crore at the end of financial year 2026.
Reddy mentioned that while there has been no supply chain disruption yet from the West Asia war, freight costs have increased.
MTAR Tech also contributed nearly 70% to the core of India’s prototype fast breeder reactor with work value of up to ₹1,500 crore per fast breeder reactor. Reddy mentioned that around 10-15 reactors are needed in total.
Shares of MTAR Tech ended the previous session 5.2% up at ₹4,390 apiece. The stock has risen 27.7% in the past month and 83.3% this year, so far.
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