The shares of leading stainless steel manufacturers gained up to 5 percent after the company announced its partnership with leading entities under the DTIS scheme to advance the ‘Make in India’ initiative.
PTC Industries Ltd has a market capitalization of Rs 16,751.56 crore, the shares were trading at Rs 11,600.10 per share, increasing around 4.30 percent as compared to the previous closing price of Rs 11,171.90 apiece.
The shares of the company have seen significant movement after PTC Industries Ltd announced its partnership with leading entities under the DTIS scheme to establish a Green Field Defence Testing Facility in the Lucknow node of the UP defence industrial corridor.
However, the government of india will fund 75 percent of the project cost, with the remaining 25 percent funded by the SPV members, valued at Rs 53 crore.
Moreover, This facility, named “Advanced Materials (Defence) Testing Foundation” is a collaborative effort among key industry players including Hindustan Aeronautics Limited, Bharat Dynamics Limited, Mishra Dhatu Nigam, Yantra India Limited, PTC Industries Limited and Uttar Pradesh Expressways Industrial Development Authority, with the land being provided by the Uttar Pradesh Expressway Industrial Development Authority.
Looking forward to company financials, revenue soared by 16 percent from Rs 62 crore in Q4FY23 to Rs 72 crore in Q4FY24, during the same time frame, net profit magnified by 67 percent from Rs 9 crore to Rs 15 crore.
The company is expanding its aerospace casting capability by making a multi-million dollar investment in a new state-of-the-art manufacturing facility of 15,000 sqm at the newly acquired 50 acres of land in the Lucknow node of the Uttar Pradesh Defence Industrial Corridor.
Moreover, this facility will be fully vertically integrated with a Titanium and Superalloy Mill, producing aerospace-grade ingots, billets, bars, plates, and sheets in these critical and strategic materials.
The stock has given a multi-bagger return of 114 percent in just six months and 215.22 percent in a year. If an investor invested Rs 1 lakh a year ago, it would now be worth Rs 3.15 lakh.
PTC Industries Limited manufactures and sells high-precision metal castings. The company makes products for a variety of important applications in industries such as aerospace, defense, oil and gas, liquefied natural gas (LNG), ships, and marine.
Written by:- Abhishek Singh
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