The shares of leading manufacturers of metal components gained up to 10 percent after the company’s subsidiary signed a long-term purchase agreement for the supply of a full range of titanium-cast parts.
With a market capitalization of Rs 9,847.04 crore, the shares of PTC Industries Ltd were trading at Rs 7,253.65 per share, increasing around 4.12 percent as compared to the previous closing price of Rs 6,966.60 apiece.
According to the company filing, Aerolloy Technologies a wholly-owned subsidiary of PTC Industries Limited signs a multi-year Long Term Purchase Agreement with Dassault Aviation for the supply of a full range of Titanium Cast parts for the Rafale Multirole fighter aircraft
Furthermore, beginning in 2024, Aerolloy will produce the whole spectrum of Titanium casting parts for the Rafale multirole fighter aircraft and the Falcon business jet program. This partnership underlines both firms’ commitment to the ‘Make in India’ and ‘Aatmanirbhar Bharat’ programs announced by the Indian government.
Examining the business’s financials, PTC Industries Ltd’s revenue climbed by 6 percent, from Rs 54.04 crores in Q2FY23 to Rs 57.51 crores in Q2FY24. During the same year, Net Profit increased by 6 percent, from Rs 7.64 crore to Rs 8.14 crore.
It is also worth noting that the capital expenditure share of the defense budget was around 30 percent in the previous budget cycle, amounting to nearly $22 billion. Extrapolating this amount to the capital budget yields an estimated $55 billion by 2030.
PTC’s aerospace and defense division is seeing expansion through its fully-owned subsidiary, Aeroloy Technologies. The Company has secured development orders and clients, including famous organizations such as Safran Aircraft Engines and Israel Aerospace Industries.
PTC Sectors Limited manufactures metal components for critical and supercritical applications in sectors such as defense, oil and gas, liquefied natural gas (LNG), ships, and marine.
Written by:- Abhishek Singh
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