The shares of this steel manufacturer gained up to 5 percent after the company signed the contract for titanium-casting parts with Safran SA.
PTC Industries Ltd is a small-cap company with a market capitalization of Rs 6,705.45 crore, On Monday, the shares closed at Rs 4,944.20 a share, an increase of 5 percent from the previous close price.
According to the company’s filing, PTC Industries Ltd announced a multi-year contract with Safran SA to develop industrial cooperation for leap engine casting parts. As per the contract, PTC Industries will produce titanium-casting parts for Safran Aircraft Engines, the first batch of titanium-casting parts for leap engines is scheduled to be delivered early in 2024 for the leap engine powering single-aisle jet.
Safran Companies is the third-biggest leap engine operator globally, and its cutting-edge turbofan, CFM, powers 75% of commercial aircraft in India. Indian airlines have ordered more than 2200 leap engines to date.
Examining the business’s financials, the company’s revenue increased 55 percent from Rs. 46.05 crores in Q1 FY23 to Rs 171.51 crores in Q1 FY24. Further, During the same period, Net Profit increased by 291.6 percent from Rs 2.88 crores to Rs 11.28 crores.
In the most recent fiscal year, PTC Industries Ltd. revealed stellar return ratios: 11.85% for return on equity and 11.66% for return on capital employed.
The company’s recent shareholding patterns promoters own 67.03 percent, retail shareholders own a 30.43 percent stake, and foreign institutional investors own a 1.72 percent stake in the company.
PTC Industries Ltd is a manufacturer of metal components for oil and gas, ships and marine, LNG, defense, and other critical and supercritical applications.
Written By:- Abhishek Singh
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