PTC Industries Limited, a distinguished Indian manufacturer with a legacy spanning over six decades in precision metal components, has announced a monumental partnership with the Government of Odisha. The collaboration aims to set up a cutting-edge aerospace-grade titanium sponge manufacturing facility in the state.
On January 30, 2025, PTC Industries announced the signing of a Memorandum of Understanding (MoU) with the Government of Odisha to establish a state-of-the-art aerospace-grade titanium sponge manufacturing facility in the region.
In an exchange filing, the company stated that this initiative would position PTC among the select few companies globally with a fully integrated titanium manufacturing value chain — encompassing the production of titanium sponge, titanium alloy ingots, forged billets, rolled bars, rods, sheets, plates, and precision castings.
Titanium sponge forms the essential raw material for titanium alloys, which are indispensable for aerospace, defence, and advanced industrial applications. Notably, only a handful of nations, including the United States, Russia, Kazakhstan, and Japan, currently possess the technological prowess to produce aerospace-grade titanium sponges.
PTC Industries has also reported impressive financial results. For Q2 FY24, the company posted a total income of ₹807.9 million, representing a stellar 34% year-on-year growth from ₹602.8 million. EBITDA surged by 60.8% to ₹296.6 million, with margins expanding to an impressive 36.7%. Profit After Tax (PAT) more than doubled, soaring 112.7% to ₹173.1 million.
“This MoU is a pivotal step towards fortifying India’s titanium industry. With the proactive support of the Odisha government and our technological expertise, we aim to establish a fully integrated titanium manufacturing ecosystem that meets the evolving demands of the global aerospace and defence sectors.
We deeply appreciate the Odisha government’s visionary approach in enabling this significant opportunity and are eager to unlock its immense potential.”
At 9:20 AM on January 31, 2025, PTC Industries Ltd shares traded at ₹13,520 per share on the NSE.
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Published on: Jan 31, 2025, 2:38 PM IST
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