PTC Industries was locked in 10% upper circuit at Rs 2832.95 after the company announced that its subsidiary has bagged contract for supply of Titanium cast components for aero engines from Safran Aircraft.
On the BSE, 8341 shares of the company were traded in counter as against an average trading volume of 2238 shares in the past two weeks. There were buy orders pending for 3,009 shares and no sellers were available.
Aerolloy Technologies (ATL), wholly owned subsidiary of PTC Industries, is a manufacturer of strategic and critical materials and high-integrity metal components, for various critical and super-critical applications in aerospace. ATL has has received an order from Safran Aircraft Engines (SAE), for development and supply of Titanium cast components for aircraft engines.
"This is the first time SAE would be developing and sourcing Titanium cast components for its Aero-engines from India, PTC Industries said.
Safran Aircraft Engines is a French aerospace engine manufacturer headquartered in Courcouronnes and a subsidiary of Safran that designs, develops, manufactures and maintains engines for commercial and military aircraft. It also offers on-site maintenance, repair, training, and consulting services. SAE is one of the oldest engine makers in the world and one of the largest engine makers worldwide, and a leading manufacturer of mainline commercial jet engines in the world.
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Sachin Agarwal, chairman and managing director, PTC Industries said: We are happy to announce that Aerolloy Technologies is the first Indian Company to have received an order by SAE for the development and supply of Titanium cast components for its Aircraft Engines.
This order will establish our technological capabilities on the global stage and will cement us as a trusted supplier in the global aerospace industry, paving the way for more such future collaborations.
PTC Industries Limited is one of the world's leading suppliers of high precision metal components for critical and super critical operations across a wide range of segments including aerospace, defence and industrial.
The company's consolidated net profit zoomed to Rs 6.09 crore in the quarter ended December 2022 as against Rs 1.16 crore during the previous quarter ended December 2021. Sales rose 26.82% YoY to Rs 56.94 crore in the quarter under review.
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