PTC Industries Partners with SPV to Boost ‘Make in India’ Initiative for Defence and Aerospace Sectors

PTC Industries Limited (PTC) proudly announced its strategic partnership with leading entities in the Indian Defence and Aerospace sector under the DTIS scheme. This collaboration aligns with the ‘Make in India’ initiative, aiming to enhance the country’s defense manufacturing capabilities. The announcement marks a significant milestone for PTC, a renowned manufacturer of high-precision metal components for critical and super-critical applications.

Establishment of the Green Field Defence Testing Facility

To address the challenge of expensive, state-of-the-art testing infrastructure, a Green Field Defence Testing Facility is being established in the Lucknow Node of the UP Defence Industrial Corridor under the DTIS scheme. This facility, named “Advanced Materials (Defence) Testing Foundation,” is a collaborative effort among key industry players, including Hindustan Aeronautics Limited, Bharat Dynamics Limited, Mishra Dhatu Nigam, Yantra India Limited, PTC Industries Limited, and the Uttar Pradesh Expressways Industrial Development Authority.

Funding and Infrastructure

The project, which totals an approximate cost of Rs. 53 crores, will be funded 75% by the Government of India and 25% by the SPV members. The Uttar Pradesh Expressway Industrial Development Authority has provided the land for this initiative. The establishment of this facility will significantly boost the Indian defense ecosystem, offering state-of-the-art testing capabilities for advanced materials within the country.

Advancements in Testing Capabilities

The new facility will substantiate the integrity and reliability of advanced materials manufactured by PTC, ensuring superior quality and compliance with stringent defense standards for Titanium and Super Alloys. This is a crucial development for PTC, which is already setting up advanced materials manufacturing capabilities with its Strategic Materials Technology Complex in Lucknow.

Remarks from Leadership

Mr. Sachin Agarwal, Chairman, and Managing Director of PTC Industries, expressed his delight at the partnership: “We are delighted to partner with the country’s leading defense organizations under the DTIS scheme to establish the Advanced Materials (Defence) Testing Foundation in the Lucknow Node of the UP Defence Industrial Corridor. We extend our heartfelt gratitude to the Government of India and the Ministry of Defence for their visionary DTIS initiative and for setting up this facility within the UPDIC. This state-of-the-art lab, one of its kind globally, marks a significant milestone in enhancing testing capabilities for advanced materials like Titanium and Super Alloys, ensuring superior quality and compliance with stringent defense standards. This collaborative effort strengthens our manufacturing capabilities and bolsters the defense manufacturing ecosystem in Uttar Pradesh and across India.”

About PTC Industries

PTC Industries Limited has been a leading Indian manufacturer of precision metal components for critical applications for over 60 years. Through its wholly-owned subsidiary, Aerolloy Technologies Limited, the company manufactures and supplies Titanium and Superalloy castings for Aerospace and Defence applications within India and for exports. PTC is substantially expanding its Aerospace castings capability with a multi-million-dollar investment in a new state-of-the-art manufacturing facility at the newly acquired 50 acres of land in the Lucknow node of the Uttar Pradesh Defence Industrial Corridor. This facility will be fully vertically integrated, producing aerospace-grade ingots, billets, bars, plates, and sheets in critical and strategic materials.

Stock Performance

On Monday, the stock performance of PTC Industries Limited reflected the market’s reaction to this significant development. The stock opened at Rs 11,101 and closed at Rs 11,137.10.

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