PTC Industries Shares: On June 11, PTC Industries’ shares jumped over 5% to hit an all-time high of Rs 11,513 apiece. This increase tracks the company’s involvement in a special purpose vehicle (SPV) under the government’s “Make in India” program meant to support the aerospace and defense industries.
Against a benchmark Nifty 50 index increase of just 6%, the stock of this metal component manufacturer has jumped 93% so far this year.
The business produces and supplies forks, machine tools, pumps, spare parts, and earthmoving equipment. It exports non-ferrous alloys and stainless steel castings as well.
According to Money Control, PTC Industries said in a recent exchange file that it supports the “Make in India” project for the Indian defense and aerospace industries through collaboration with major defense entities under the DTIS scheme. As part of the DTIS program, a greenfield defense testing facility is under development at the Lucknow Node of the UP Defence Industrial Corridor.
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Providing the land, this facility—called the “Advanced Materials (Defence) Testing Foundation”—is a joint effort among important industry players including Hindustan Aeronautics, Bharat Dynamics, Mishra Dhatu Nigam, Yantra India, PTC Industries, and the Uttar Pradesh Expressways Industrial Development Authority.
With the SPV members financing the remaining 25% of the project’s cost—Rs 53 crore—the Government of India will cover 75%of it.
“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, of PTC Industries.
PTC Industries’ net profit jumped 60% on-year to Rs 14 crore in Q4 FY24, while sales climbed 16% YoY to Rs 72 crore.
