The shares of one of this small cap stock, engaged in the business of producing metal components for industries like defence, gas and oil, plunged 7.5 percent intraday following the company’s Q3 FY25 results.
Price Action
With a market capitalization of Rs 16,818.71 crore, PTC Industries Ltd plunged 7.5 percent in Tuesday’s trading session and made an intraday low of Rs 11,031.3 per share compared to its previous closing price of Rs 11,922.05 per share. The stock retraced from its day’s low and was trading at Rs 11,598.35 which is 2.7 percent lower than the previous closing price.
Considering the decline in price on Monday and Tuesday together, the shares of PTC Industries Ltd have corrected 39 percent from the 52 week-high levels of 17,978
What Happened
The shares of PTC Industries Ltd fell after the company reported its Q3FY24-25 results. Its total income increased 31 percent year on year from Rs 59 crore to Rs 77 crore in Q3FY25. However, on a quarter-on-quarter basis, the income fell by 4.7 percent from Rs 80.8 crore.
The net profits went up around 76 percent year on year from Rs 8 crore to Rs 14 crore in Q3FY25, mainly due to higher other income. On a quarter-on-quarter basis, the company’s net profits fell by 18 percent from Rs 17 crore.
Further, EPS increased 59 percent year on year from Rs 5.96 to Rs 9.5. There was however a 20 percent decrease from Rs 11.85.
Company Overview
PTC Industries Ltd specializes in manufacturing and selling high pressure metal castings to many industries including aerospace, oil, gas and defence among others. The company offers various materials like stainless steel, alloy steel, duplex, and others. Through its subsidiary, Aerolloy Technologies Limited it also supplies Titanium and Superalloy castings for Aerospace and Defence applications.
Management Commentary
Mr. Sachin Agarwal, Chairman & Managing Director, said “This quarter has been noteworthy for us. We commissioned India’s first Vacuum Arc Remelting furnace, a landmark achievement that brought us into a prestigious league of global Titanium alloy producers and enhanced India’s self-reliance in defence and aerospace industry.
Our strategic acquisition of Trac Precision Solutions has been a game-changer, seamlessly integrating with our vision and expanding our capabilities in the high-precision components sector.”
Ace Investor
Mukul Mahavir Agarwal, a renowned Indian investor holds a 1.07 percent stake or 1.60 lakh equity shares in the company.
Written by Shwetha Sairam
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