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MTAR Technologies Limited is expanding its fuel cell manufacturing operations after achieving record order inflows, marking clean energy as a key growth area for FY26. In the first nine months of FY26, the company received clean energy fuel cell orders totaling INR 10.8 billion, with revenue from the segment reaching INR 3.87 billion.

MTAR plans to increase its manufacturing capacity of fuel cell hot boxes from 8,000 to 12,000 units by FY26 and aims for 20,000 units by the end of 2026. The total order book is expected to rise to INR 28 billion by FY26. Additionally, the company secured over INR 5 billion in civil nuclear orders and reported aerospace and defence revenue of INR 720 million in the same timeframe.