PTC Industries Share Price Soars 5%, Reaches Record High with 'Make in India' Defence Initiative

PTC Industries' shares soared by more than 5%, hitting a record high of ₹11,753 per share on June 11. This increase comes after the company joined a special purpose vehicle (SPV) as part of the government's 'Make in India' program, which focuses on enhancing the defence and aerospace industries.

This year, PTC Industries share price (metal components manufacturer) has surged by 93%, significantly outpacing the 6% rise in the benchmark Nifty 50 index. 

In a recent exchange filing, PTC Industries revealed its collaboration with leading defence organizations under the DTIS scheme to advance the 'Make in India' initiative for India's defence and aerospace sectors. As part of this scheme, a greenfield defence testing facility is being constructed at the Lucknow Node of the UP Defence Industrial Corridor.

The facility, known as the 'Advanced Materials (Defence) Testing Foundation,' is a collaborative project involving major industry participants such as Hindustan Aeronautics, Bharat Dynamics, Mishra Dhatu Nigam, Yantra India, PTC Industries, and the Uttar Pradesh Expressways Industrial Development Authority, which is supplying the land. 

The Government of India will finance 75% of the project's cost, while the SPV members will contribute the remaining 25%. The total cost of the project amounts to ₹53 crore. 

"This state-of-the-art lab, one of its kind globally, marks a significant milestone in enhancing testing capabilities for advanced materials like Titanium and Super Alloys, ensuring superior quality and compliance with stringent defence standards," said Sachin Agarwal, Chairman and Managing Director, PTC Industries.

In Q4FY24, PTC Industries net profit rose 60% on-year to ₹14 crore, while sales increased by 16% YoY to ₹72 crore.

PTC Industries Limited, an India-based company, specializes in manufacturing metal components for critical applications. The company operates within the Engineering and Allied Activities segment. 

The company provides a diverse range of materials, including titanium alloys, nickel and cobalt-based alloys, and stainless steel alloys, as well as many other exotic alloys. Additionally, it offers materials such as alloy steel, stainless steel, duplex and super duplex, nickel-based alloys, cobalt-based alloys, and nickel aluminum bronze, among others.

The company's advanced manufacturing capabilities encompass design and simulation, research and innovation, rapid manufacturing, robotics and automation, vacuum melting and pouring, additive manufacturing, and smart manufacturing. It caters to a wide range of industries, including Aerospace, Defense, Oil & Gas, Liquefied Natural Gas (LNG), Energy, Marine, Medical, and others. Aerolloy Technologies Limited is its subsidiary.