PTC Industries Joins SPV as Part of Government's 'Make in India' Drive for Defence and Aerospace Sector Enhancement

PTC Industries Limited (herein referred to as "PTC"), a manufacturer of high-quality high-precision metal components for various critical and super-critical applications, is delighted to announce its partnership 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 Limited, Bharat Dynamics Limited, Mishra Dhatu Nigam, Yantra India Limited, PTC Industries Limited 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.

The establishment of this facility, through joint initiatives of these leading defence organizations, will be a significant catalyst for the Indian defence ecosystem, creating state-of-the-art testing capabilities for advanced materials within the country. This is an important step forward for PTC Industries which is already setting up advanced materials manufacturing capabilities in the country with the building of its Strategic Materials Technology Complex in Lucknow. This Defence Materials testing facility will help to further substantiate the integrity and reliability of advanced materials being manufactured by PTC, ensuring superior quality and compliance with stringent defence standards for Titanium and Super Alloys.

Commenting on this development Mr. Sachin Agarwal, Chairman and Managing Director, PTC Industries said: "We are delighted to partner with the country's leading defence organizations under the DTIS scheme to establish the Advanced Materials (Defence) Testing Foundation in the Lucknow Node of the UP Defence Industrial Corridor. We extend our heartfelt gratitude to the Government of India and the Ministry of Defence for their visionary DTIS initiative and for setting up this facility within the UPDIC. 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. This collaborative effort strengthens our manufacturing capabilities and bolsters the defence manufacturing ecosystem in Uttar Pradesh and across India."

Shares of PTC Industries Ltd was last trading in BSE at Rs. 11171.90 as compared to the previous close of Rs. 10915.85. The total number of shares traded during the day was 1209 in over 394 trades.

The stock hit an intraday high of Rs. 11350.00 and intraday low of 10721.70. The net turnover during the day was Rs. 13200187.00.

Source : Equity Bulls

Keywords

PTCIndustries INE596F01018 Partnership DTISScheme Defence Aerospace MakeinIndia