PTC Industries shares jumped 11% to a three-month high due to impressive Q4 earnings. The company reported a total income of ₹765.0 million in Q4 FY24, up 22% from ₹626.9 million in Q4 FY23. For the full year FY24, total income was ₹2,702.6 million, a 19.2% increase from ₹2,267.3 million in FY23.
Strong Financial Performance
PTC’s Q4 FY24 EBITDA stood at ₹259.5 million, a 37% rise from ₹189.4 million in Q4 FY23, with an EBITDA margin of 33.9%. For the entire FY24, EBITDA was ₹860.5 million, a 30.1% increase from ₹661.1 million in FY23, with an EBITDA margin of 31.8%.
The company posted a profit after tax (PAT) of ₹147.2 million for Q4 FY24, up 59.9% from ₹92 million in the same quarter last year. For FY24, PAT was ₹422.2 million, a 63.5% increase from ₹258.2 million in FY23.
Focus on Sustainable Practices
PTC is committed to environmentally friendly practices, especially in producing titanium alloys. The company uses advanced technologies to recycle titanium scrap, reducing the need for fresh titanium sponge. This aligns with global aviation industry goals for carbon neutrality and net-zero emissions. PTC is leading sustainable manufacturing in India by promoting energy-efficient methods and titanium scrap recycling.
Major Investments in Aerospace and Defense
PTC is setting up a Strategic Materials Technology Complex in Lucknow, acquiring state-of-the-art equipment for aerospace and defense material production. This includes various advanced furnaces, making it the largest single-site titanium recycling and remelting facility in the world. The company will also produce nickel and cobalt superalloys for aerospace and defense applications.
PTC Industries, through its subsidiary Aerolloy Technologies Limited, manufactures and supplies titanium and superalloy castings for aerospace and defense, both domestically and internationally.
Emerging Leader in Titanium Manufacturing
Antique Stock Broking has initiated coverage on PTC Industries with a target price of ₹13,010 per share, indicating a potential 68% upside from its Thursday closing price. The stock has already gained 233% in the past year and an incredible 1,629% over five years. The brokerage’s positive outlook is based on PTC’s strong order pipeline and contracts with major OEMs.
The firm believes PTC is becoming India’s top manufacturer of titanium and superalloy materials and castings, with world-class technologies. PTC’s titanium and superalloy mills will begin production in FY25, promising high growth and significant profits.
Geopolitical Opportunities
The geopolitical situation has opened new opportunities for PTC Industries. Russia, a major producer and exporter of titanium, has seen its market position affected by the Russo-Ukrainian War. This has created a favorable environment for PTC to expand its market share globally.
In summary, PTC Industries is experiencing strong financial growth, investing heavily in sustainable practices and advanced technologies, and is well-positioned to capitalize on new geopolitical opportunities.
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