Stock Report

PTC Industries reports Q3 & 9M FY24 Consolidated Financial Results

Posted On : 2024-02-13 22:08:47( TIMEZONE : IST )

PTC Industries Limited (herein referred to as "PTC"), a manufacturer of high-quality high-precision metal components for various critical and super-critical applications, today announced financial results for the quarter ended 31st December 2023.

Total Income:- Total Income at Rs. 590.6 Mn in Q3FY24 as compared to Rs. 609.0 Mn reported in Q3FY23; Total Income during 9MFY24 stood at Rs. 1,937.6 Mn compared to Rs. 1,640.5 Mn in 9MFY23, a growth of 18.1% YoY

EBITDA:

- EBITDA stood at Rs. 189.7 Mn in Q3FY24 as against Rs. 161.4 Mn in Q3FY23 with an EBITDA Margin of 32.1% in Q3FY24; EBITDA for 9MFY24 stood at Rs. 600.8 Mn as compared to Rs. 471.7 Mn in 9MFY23, 27.4% YoY growth with an EBITDA margin of 31.0% in 9MFY24

PAT:

- PAT stood at Rs. 80.8 Mn in Q3FY24 as compared to Rs. 60.9 Mn, a growth of 32.5% YoY; During 9MFY24 PAT was at Rs. 275.0 Mn compared to Rs. 166.1 Mn in 9MFY23, a significant growth of 65.5% YoY

Key Business Updates during Quarter:

Safran and PTC Industries sign contract to provide casting parts for the LEAP engine powering single-aisle jet: Under the terms of the contract, PTC Industries will produce titaniumcasting parts for Safran Aircraft Engines. This contract aligns with the Indian Government's "Make in India" initiative. Safran Aircraft Engines aims to cultivate an all-encompassing ecosystem for aero engines in India, which would bolster its global supply chain in preparation for increased LEAP production.

- PTC Industries and Nasmyth (UK) sign MoU to vertically integrate supply chain solutions from India and provide global solutions to OEMs: This partnership paves the way for both companies to leverage their capabilities for offering solutions to defence and aerospace customers in India and globally. It also presents worldwide solutions for OEMs seeking suppliers for the mitigation of current supply chain risks, while simultaneously offering opportunities for capacity growth.

- Aerolloy Technologies has inked a Long-Term Purchase Agreement with Dassault Aviation to supply a comprehensive range of Titanium Cast parts for the Rafale Multirole fighter aircraft: Aerolloy Technologies, from 2024 onwards, will take the onus to manufacture the full range of Titanium casting parts not only for the Rafale multirole fighter aircraft but also for the Falcon business jet program. This multi-year contract highlights the Make in India initiatives in providing Titanium casting parts.

- PTC Industries and the HAL - Accessories Division, Lucknow, have entered into a MoU for cooperation for the indigenization of various aviation-grade raw materials, components, Spares, Sub-Assemblies & LRUs of Aircrafts being built by HAL: The purpose of this collaboration for both parties is mainly to share the expertise & capabilities relating to the needs of Aerospace Sector focusing Indigenization of spares, components, SRUs/ LRUs with larger perspective of making India ATMANIRBHAR in Aerospace Sector. This is in addition to the MOU signed with HAL - SED, Koraput for indigenisation of aviation grade Raw Materials, Components, Sub-systems and Systems of Russian origin aircraft.

Speaking on the developments, Mr. Sachin Agarwal, Chairman & Managing Director, said: "I am happy to announce that the quarter has been good for us. We have seen an uptick in our operating profitability during this quarter due to a shift in revenue towards high-margin products. We have also entered into several prestigious MoUs in the Aerospace and Defence sectors with esteemed names like Nasmyth and HAL along with the signing of long-term purchase agreements with Safran Aircraft Engines and Dassault Aviation. These collaborations will allow us to leverage our expertise for significant growth and progress in the future.

Our foray into the defence and aerospace sectors began a while ago, and we are now poised to see immense growth and promising developments. As we proceed on this journey, our vision of building a self-reliant Aatmanirbhar Bharat remains intact and prompts us to continue working with dedication and commitment. I'm filled with optimism about the exciting opportunities that lie ahead and the new heights we aim to reach."

Shares of PTC Industries Ltd was last trading in BSE at Rs. 8577.05 as compared to the previous close of Rs. 8497.90. The total number of shares traded during the day was 2042 in over 1289 trades.

The stock hit an intraday high of Rs. 8678.20 and intraday low of 8100.00. The net turnover during the day was Rs. 17113950.00.