Mukul Agrawal Portfolio Stock PTC Industries Declares Q1 Results

PTC Industries Limited, a producer of premium precision metal components for a range of vital and ultra-critical uses, released its financial results for the quarter that ended on June 30, 2024.

The company reported net sales of Rs 46.87 crore in the June 2024 quarter down 34.46% from Rs. 71.51 crore in the June 2023 quarter. It reported a net profit of Rs. 4.90 crore in Q1FY25 down 56.59% from Rs. 11.28 crore in Q1FY24. EBITDA stands at Rs. 13.70 crore in the quarter under review down 39.54% from Rs. 22.66 crore in the year-ago quarter.

Commenting on Q1FY25 Performance, Mr. Sachin Agarwal, Chairman & Managing Director, said, "Our strategic materials facility in Lucknow is advancing on schedule, marking a steady stride in our growth plans. In a significant leap forward, ATL's innovation of a cutting-edge casting technology for Single Crystal and Directionally Solidified for aerospace components has not only distinguished us as the exclusive provider of this sophisticated technology in India but has also positioned us as a formidable player on the international stage."

"Additionally, complementing our technological advancements, we have established the 'Advanced Materials (Defence) Testing Foundation' within the UP Defence Industrial Corridor and this synergy ensures that we maintain the highest standards of quality production for the defence sector. Our commitment to innovation and excellence shall continue to drive our success and growth," Sachin Agarwal added.

For more than 60 years, PTC Industries Limited has been a prominent Indian producer of precision metal components for key applications. The firm manufactures and supplies titanium and superalloy castings for aerospace and defence applications in India as well as for exports through its fully-owned subsidiary Aerolloy Technologies Limited. The company is investing multi-million-dollar in a new, state-of-the-art manufacturing facility at the recently acquired 50 acres of land in the Lucknow node of the Uttar Pradesh Defence Industrial Corridor, significantly expanding its capacity to manufacture aerospace castings and materials.

Renowned Indian investor Mukul Agrawal is a shareholder of 1.67 lakh PTC Industries shares, or 1.16 per cent stake in the company's total paid-up capital, based on PTC Industries Ltd.'s shareholding pattern for the April to June 2024 quarter available on BSE.

The company's board of directors recently gave its approval to a plan to raise funds up to 700 crore via the QIP route.

On Wednesday, the shares of PTC Industries closed on the BSE at Rs 13724.20 or 0.49% down from the previous close. The scrip reached a 52-week-high of Rs 15,650.00 on (10/07/2024) and a 52-week-low of Rs 4,218.05 on (01/08/2023).