PTC Inds gains after arm signs MoU with Safran Aircraft
PTC Industries added 2.59% to Rs 15,123.80 after the company's subsidiary, Aerolloy Technologies (ATL) has signed the memorandum of understanding (MoU) with Safran Aircraft, to manufacture the components and materials for military aircraft engines.
This MoU reflects a commitment to the Indian Governments Make in India policy, marking additional steps toward Safran Aircraft Engines ambition to develop a comprehensive aeroengine ecosystem in India and ATLs growing role in the indigenous production of critical aerospace components as well.
Sachin Agarwal, chairman and managing director of PTC Industries, said: This memorandum of understanding between Aerolloy Technologies and Safran Aircraft Engines marks a significant step towards enhancing India's indigenous capabilities in military aircraft engine manufacturing. It aligns with the "Make in India" initiative, fostering collaboration and innovation in the aerospace sector while addressing the defence needs of the country. The ongoing partnership for commercial LEAP engines lays a strong foundation for this expanded cooperation.
PTC Industries is a leading Indian manufacturer of precision metal components for critical applications for over 60 years. Through its wholly owned subsidiary Aerolloy Technologies, the company is manufacturing and supplying titanium and superalloy castings for aerospace and defence applications within India as well as for exports.
The companys consolidated net profit jumped 66.9% to Rs 24.57 crore on 68.4% increase in net sales to Rs 121.92 crore in Q4 FY25 over Q4 FY24.
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