PTC Industries at new high

PTC Industries, which makes high-precision metal components for various critical and super-critical applications, announced that it has partnered with leading entities under DTIS scheme in the Indian Defence and Aerospace sector to advance the 'Make in India' initiative.

To overcome the challenge of expensive, state-of-the-art testing infrastructure, a Green Field Defence Testing Facility is being established in the Lucknow Node of the UP Defence Industrial Corridor under the DTIS scheme. This facility, named “Advanced Materials (Defence) Testing Foundation” is a collaborative effort among key industry players including Hindustan Aeronautics, Bharat Dynamics, Mishra Dhatu Nigam, Yantra India, PTC Industries and Uttar Pradesh Expressways Industrial Development Authority, with the land being provided by the Uttar Pradesh Expressway Industrial Development Authority.

The Government of India will fund 75% of the project cost, with the remaining 25% funded by the SPV members, totalling an approximate cost of Rs. 53 crores. PTC is already setting up a Strategic Materials Technology Complex in Lucknow.

PTC had ended Q4FY24 with a 60% (YoY) rise in consolidated net profit at Rs.15 crore on a 16% rise in revenue at Rs.72 crore.

The market is happy with this development as the stock price rose over 5% to hit a new 52-week high today at Rs.11753.95 though less than 1000 shares have  changed hands.