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PTC Industries hits 52-week high, hits 20% upper circuit on healthy outlook

PTC is one of the world's leading suppliers of high-precision metal components for critical and super-critical operations across a wide range of segments including Aerospace, Defence, and Industrial

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SI Reporter Mumbai

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Shares of PTC Industries (PTC) were locked in the upper circuit of 20 per cent, hitting a 52-week high of Rs 3,672.80 on the BSE on Monday at 09:53 am, on healthy outlook. In the past three weeks, the stock has zoomed 56 per cent after the company reported stellar financial results for the quarter ended March 2023 (Q4FY23).

PTC is one of the world's leading suppliers of high-precision metal components for critical and super-critical operations across a wide range of segments including Aerospace, Defence, and Industrial.

The Company has invested in well-integrated manufacturing units having manufacturing facilities in Uttar Pradesh and Gujarat. In addition, an expansion is underway at the recently acquired 50 acres of land by its subsidiary Aerolloy Technologies Limited (ATL) located in the Lucknow node of the Uttar Pradesh Defence Industrial Corridor next to the Brahmos facility.
 

Israel Aerospace Industries (IAI) has granted approval to Aerolloy Technologies (ATL) as a supplier of cast components for Aerospace applications. This is the first time that IAI is sourcing such cast components from India.

Throughout the fiscal year 2022-23 (FY23), ATL signed numerous MoUs and secured development orders from prominent players in the defence and aerospace industry worldwide, emphasizing its outstanding capabilities and cutting-edge technologies. The Indian government's Make-in-India initiative and push for defence exports will continue to define the company's opportunity environment, the company said.

Meanwhile, for Q4FY23, PTC's profit after tax nearly doubled to Rs 9.20 crore from Rs 4.62 crore in Q4FY22. Earnings before interest, taxes, depreciation, and amortisation (Ebitda) margin improved 390 bps to 30.2 per cent from 26.3 per cent in the year-ago quarter. Total income grew 19 per cent year-on-year to Rs 62.69 crore from Rs 1.90 crore.

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First Published: Jun 12 2023 | 10:11 AM IST

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