PTC Industries Limited signs MoU with Hindustan Aeronautics Limited - SED, Koraput

PTC Industries Limited (herein referred to as "PTC"), a manufacturer of high-quality high-precision metal components for various critical and super-critical applications, and Hindustan Aeronautics Limited - SED (herein referred to as "HAL SED"), a Defence Public Sector Undertaking (DPSU) under Ministry of Defence, Government of India and a global leader in the Aerospace and Defence sector with expertise in design, development, production, upgradation and life time product support of Aircraft, Aero-Engines and its systems, today signed a Memorandum of Understanding (MoU) to explore opportunities for mutual cooperation and business development for indigenisation of aviation grade Raw Materials, Components, Sub-systems and Systems of Aero-Engines of Russian origin aircraft in the presence of the Honourable Defence Minister, Shri Rajnath Singh at the Bandhan Ceremony held at Aero India 2023 in Bengaluru, Karnataka.

As part of the MoU, the two organisations will explore opportunities for:

- Development, manufacturing, and supply of 'Ready to Fit' single crystal blades
- Development, manufacturing, and supply of various critical engine components for Su-30 and MIG-29 engines
- Development, manufacturing, and supply of various 'Ready to Use' LRUs and sub-systems
- Development, indigenisation, and certification of various Aero Engine materials viz, Titanium Alloys, Nickel based Super Alloys, Special Aero Steels and Aluminium Alloys,
- Machining of certain critical components and parts for aerospace applications

Speaking at this occasion, Mr. Sachin Agarwal, Chairman, and Managing Director, of PTC Industries said: "This agreement will take the company to the next level of technological excellence for manufacturing of critical aeroengine parts and small engines within the country. He further announced that the company is setting up facilities in the recently acquired 50 acres of land in the Lucknow node of the UP Defence Industrial Corridor, for critical technologies like SX Aero Engine Aerofoils, TB Coatings and Small Gas Turbines.

The company is creating a world class manufacturing ecosystem for aerospace materials including Titanium, Nickel, and refractory alloys with the installation of the Vacuum Arc Remelting Furnace, Electron Beam Cold Hearth Refining, Plasma Arc Melting and Vacuum Induction Melting equipment. PTC's production of Titanium alloys with an overall capacity of 6500 TPA will be used for our country's Defence, Aerospace, Medical and Industrial applications and also target a substantial volume for export to various OEMs globally.

This partnership will be a huge step towards reducing our dependence for materials, components and spares for various platforms and equipment of Russian origin and support the creation of a true indigenous manufacturing ecosystem for building an Aatmanirbhar Bharat."

Shares of PTC Industries Ltd was last trading in BSE at Rs. 2476.30 as compared to the previous close of Rs. 2434.35. The total number of shares traded during the day was 1133 in over 120 trades.

The stock hit an intraday high of Rs. 2570.00 and intraday low of 2421.00. The net turnover during the day was Rs. 2814088.00.

Source : Equity Bulls

Keywords

PTCIndustries INE596F01018 MoU HindustanAeronautics RussianOriginAircraft