PTC Industries subsidiary Aerolloy Tech gets land allotment of 50 Acres by UPEIDA in Lucknow; Stock jumps ~4%

18 Jan 2022 , 09:48 AM

PTC Industries Limited, has announced the allotment of 20 hectares (50 acres) of land by UPEIDA to PTC’s wholly owned subsidiary Aerolloy Technologies Limited (ATL) in the Lucknow node of the UP Defence Industrial Corridor.

This prime parcel of land is adjacent to the 80 hectares (200 acres) land provided by UPEIDA to Brahmos at the same location.

At around 9.50 AM, PTC Industries Limited was trading at Rs5011.00 per share up Rs176.05 or 3.64% on the BSE. The company stock has hit a day’s high of Rs5048 per piece so far.

The Company intends to set up fully integrated material manufacturing capabilities of all exotic materials, including Titanium, Cobalt, and Nickle Superalloys, at this facility. The project will be developed in three phases with a total peak manufacturing capacity of 5,000 tonnes per annum. The facility, among other state-of-the-art equipment, will have a Vacuum Arc Remelter that has already been procured.

The project will be commissioned in three phases starting with manufacturing of Titanium Ingots. The second phase would see the manufacture of Nickel Super Alloys and other exotic metals for the aerospace industry, including Nickel and Cobalt alloys. The third phase would see PTC developing and supplying additional components and sub-systems for the adjoining Brahmos facility.

PTC already has received the ‘Clearance Certificate’ for critical Online Fittings (OLFs) for Defence applications, made out of expensive Titanium alloys and using a unique In-House Capability comprising of Investment Casting + HIP (Hot Isostatic Pressing) processing techniques, available only with very few companies worldwide.

To date, these critical “OLFs” are being imported but will now reduce imports as its production is commenced at the PTC facility. PTC is already a key supplier of Titanium castings and components to Brahmos for the past few years.

With its advanced technological capabilities and state-of-art facilities to manufacture Aerospace components & Sub Systems, PTC will play an important role in enhancing India’s Defence Capabilities in the near future.