PTC Industries Limited (herein referred to as "PTC"), a manufacturer of high-quality high-precision metal components for various critical and super-critical applications, has taken up a developmental contract for critical components for DRDO - GTRE's Combat Aircraft Engine development program. Considering the Government of India's directives on 'Aatmanirbhar Bharat' and prevailing geo-political situation, the Ministry of Defence's initiative to design, develop and manufacture its own fighter aircraft platforms will result in a greater potential for indigenously developed engines to be used in these platforms.
PTC's expertise is being developed in manufacturing critical components for Aero Engines /Aircraft made of Titanium Alloys using innovative Investment Casting - Hot Isostatic Pressing (IC - HIP) technology along with GTRE - DRDO. This will enhance the overall ecosystem of the country's indigenous defence capabilities. One such critical component, the Engine Bevel Pinion Housing prototype has already been developed in a very short period in collaboration with GTRE and was displayed in the recently concluded DefExpo 2022 in Gandhinagar, Gujarat.
Talking about the opportunities this creates for indigenous defence manufacturing, Mr. Sachin Agarwal, Chairman, and Managing Director, of PTC Industries said: "Based on this contract and the developmental initiatives taken up with GTRE-DRDO, PTC's capabilities will be matched with a strong foundation for the development of more innovative, complex and reliable components for next-generation aero-engines. PTC has undertaken focused investments in technology for the manufacture of advanced aero-engine components and is adding world-class facilities for the manufacture of Titanium production with a large capacity."
Shares of PTC Industries Ltd was last trading in BSE at Rs. 2896.95 as compared to the previous close of Rs. 2892.30. The total number of shares traded during the day was 1011 in over 79 trades.
The stock hit an intraday high of Rs. 2900.00 and intraday low of 2833.00. The net turnover during the day was Rs. 2914301.00.