PTC Industries gained 2.48% to Rs 14,499 after the company announced that its wholly owned subsidiary, Aerolloy Technologies has received an order from Israel Aerospace Industries (IAI), for supply of titanium cast components for aerospace applicatio
The company said that this is the first time that IAI is sourcing such cast components from India.
Sachin Agarwal, chairman and managing director of PTC Industries said, “Aerolloy Technologies is proud to share that it has received its first order from Israel Aerospace Industries for supply of titanium castings. This is yet another milestone for ATL and demonstrates the technological capabilities that the company has been building.
This is a significant achievement for the company, and we will now be working with one of Israel’s leading organisations and a global leader. This new order has opened new opportunities for the company for exports to Israel in the defence and aerospace sectors.”
Zeev Mivtzari, country head INDIA & CMD of Israel Aerospace Industries said, “IAI sees itself as part of the Defence Ecosystem of India. We have more than 50 local companies that we are working with, and I am very happy to expand the local activity with PTC Industries for manufacturing of strategic materials. This is the way for IAI to expand its business and for India to actualize its self reliance policy.”
PTC Industries is a leading manufacturer of metal components for critical and super critical applications. The companys shares are listed on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) in India.
The company’s consolidated net profit decreased 56.6% to Rs 4.90 crore on 34.5% decline in net sales to Rs 46.87 crore in Q1 FY25 over Q1 FY24.
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First Published: Sep 05 2024 | 3:46 PM IST
