MTAR Technologies Limited announced strong financial results for the third quarter and nine months of FY26. The company reported a revenue of ₹278 crore for Q3 FY26, marking a significant year-over-year growth of 59.3% compared to ₹174.5 crore in Q3 FY25. EBITDA also saw a substantial increase of 92.5% to ₹64 crore from ₹33.3 crore in the same period last year. The company achieved its highest quarterly revenue to date, driven by robust growth across all business verticals, particularly in the Clean Energy Fuel Cells and Civil Nuclear Program segments. The closing order book as of Q3 end stood at ₹2,394 crore, with ₹1,370 crore of new orders secured in Q3 alone. The Clean Energy Fuel Cells segment received orders worth ₹1,080 crore in the first nine months of FY26, with ₹645 crore secured in Q3. Furthermore, MTAR Technologies secured orders worth over ₹500 crore for the Kaiga Units 5 and 6 nuclear reactors. The company anticipates its order book to reach ₹2,800 crore by the end of FY26. Management expressed confidence in sustaining this momentum and achieving further milestones, expecting a meaningful improvement in margins due to operating leverage and a favorable shift in product mix. Expansion plans are underway for the Clean Energy Fuel Cells vertical, with a phased increase in manufacturing capacity from the current 8,000 units to 12,000 by end of FY26, 20,000 by end of FY27, and potentially 30,000 units thereafter. Capex for this expansion is estimated to be between ₹50 crore to ₹60 crore. The Aerospace and Defence segment also showed strong growth, with revenues of approximately ₹72 crore for the nine months ended FY26. The company expects this segment to contribute significantly, with a vision to achieve revenues of ₹350 crore to ₹400 crore in the next three years. The company also anticipates a potential PLI scheme for critical nuclear components valued at ₹18,000 crore to ₹20,000 crore in the upcoming union budget.