Announcement
Announcement under Regulation 30 (LODR)-Press Release / Media Release 14 Oct - Aerolloy won Safran order for LEAP titanium castings; long-term production framework signed.
Source: Bse
PTC Industries Limited (PTCIL)
Large CapIndustrials stocks · Large cap · NSE
PTC Industries Limited is an advanced manufacturing company specializing in high-integrity, technologically complex materials and components for aerospace, defense, and industrial sectors. It focuses on integrated ecosystems across advanced materials, melting, precision casting, and complex machining, serving global OEMs.
Data qualityFresh enough for analysisQuote updated 19 Oct, 03:31 pm ISTDetails
Quote19 Oct, 03:31 pm IST
Base fundamentals20 Oct 2026 · screener
Latest result16 Aug, 12:36 am IST
Score20 Oct, 05:15 am IST · v4.3-runtime-valuation
Tags15 Aug 2026
Coverage13/14 · 93%
Valuation2026-07-20 · Rf 6.8% · Industrials P/E 26.2 (n=537)
Technical timing lens
Trend score and candlestick chart
71Bullishfull bull SMA stack · SMA20 +4.5% / mo · MACD + · near 52W high
Stock trend: 85
Sector RS: 50
Sector 3M: -6.3% vs Nifty 500 -5.6%
Industrials FPI tailwindNot confirmed
Latest mapped FPI equity flow was not positive. View sector evidence
Technical chart
PTCILD candles · FIT view+55.3%Latest close ₹25045.00 on 2026-10-19
Bar
+1.5%
RSI
64
MACD hist
98.47
52W pos
91%
2026-10-19O ₹24680.00H ₹25400.00L ₹24130.00C ₹25045.00Vol 31,661 sh
Up bar
Down bar
EMA 20
EMA 50
Volume + 20D avg
Result date
RSI(14)
MACD / signal
Market context
Relative performance and chart statistics
Adjusted completed-session prices, rebased to 100
PTCILNifty India ManufacturingNifty 500
- PTCIL
- +38.9%
- Nifty 500
- -5.6%
- Nifty India Manufacturing
- -5.8%
- Vs Nifty 500
- +44.5 pp
Chart stats
19 Oct 2026- From 52W high
- -4.0%
- 52W range position
- 91%
- ATR (14)
- 3.5%
- Volume vs 20D
- 1.22x
- Avg traded value
- ₹63.3 Cr
- 20D price channel
- ₹21,510 - ₹26,085
₹26,085
₹14,499 - ₹26,085
₹886.7
Latest completed session
20-session average
38.7% annualized volatility
Research snapshot
What the evidence says now
Weak fundamentals, while price trend supports entry. This looks more like momentum/speculation than a clean fundamental investment setup.
Weak U-Score but strong trend: momentum may be ahead of fundamentals.
Suggested next step
Momentum only
Trend is strong but fundamentals do not support a clean investment thesis.
U-Score
Legacy · OVERVALUED27
Fundamental lens: valuation, quality, growth, balance sheet, and cash flow.
Latest result
Excellent90
Revenue +97.9% · PAT +480.0% YoY
Technical
Bullish71
Price trend and sector-relative-strength timing.
Valuation
Legacy model-660.7%
Legacy margin-of-safety estimate; the revised evidence label remains in shadow validation.
Trust
Limited evidence67
Financial-only signal; management claim evidence is not sufficient yet.
Financials
Fundamentals, quarterly history, margins, returns and balance-sheet evidence
Financials
Fundamentals, quarterly history, margins, returns and balance-sheet evidence
Latest result
Quarter ended 30 Jun 2026
Excellent · 90/100Rev +98% YoY · PAT +480% YoY · margin expansion · operating leverage
Filed 30 Jun 2026
Open results browser →| Metric | This quarter | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹192 Cr | +97.9% | -14.7% |
| EBITDA | ₹49 Cr | +444.4% | -32.9% |
| Operating margin | 25.0% | +1600 bps | -700 bps |
| PAT | ₹29 Cr | +480.0% | -51.7% |
| PAT margin | 15.1% | +995 bps | -1157 bps |
NDF means not disclosed in the current structured filing feed. It is intentionally not treated as zero.
Fundamentals
Valuation
- P/E
- 316.00
- P/B
- 24.92
- EV/EBITDA
- 186.68
- Market Cap
- 39689.00Cr
Profitability
- ROE
- 7.16%
- ROCE
- 8.59%
- ROA
- 7.95%
- Dividend Y
- —
Growth (CAGR)
- Revenue 5Y
- 30.00%
- EPS 5Y
- 102.00%
- Revenue 3Y
- 40.00%
- EPS 3Y
- 59.00%
Balance Sheet
- Debt/Equity
- 0.17
- Interest Coverage
- 15.64×
- Altman Z
- 8.46
- Book Value
- 1005.00
Cash Flow
- FCF Yield
- —
- FCF Positive Y
- 3/5
- OCF
- -69.00 Cr
- EPS TTM
- 83.78
Shareholding
- Promoter Hold
- 56.46%
- Promoter Pledge
- 0.00%
- Momentum 52W
- 91%
Financial History
Updated 20/10/2026
Revenue
₹ CrLatest: 192-14.7% vs prev
Net Profit
₹ CrLatest: 29.0-51.7% vs prev
ROE is shown only in the Annual view — quarterly equity data isn't published.
Technicals
Trend interpretation, Stage 2, relative strength, volume and indicator evidence
Technicals
Trend interpretation, Stage 2, relative strength, volume and indicator evidence
Daily technical trend read
Mixed signalsSignals are conflicting — long-term uptrend intact. RSI 64. Wait for confirmation.
- Price > SMA20 > SMA50 > SMA200 — full bullish stack.
- SMA20 rising (~4.3% over last month) — short-term momentum positive.
- RSI(14) at 64 — falling, no extreme reading.
- MACD above signal but histogram contracting — bullish momentum cooling.
- 4% off 52W high · 73% above 52W low.
Mechanical read from the price + indicator series above. Not a recommendation — technical setups can reverse without warning, especially around earnings and macro events.
Nifty 500 leadership
Relative Strength & Trend Stage
96
RS percentile
Stage 2 UptrendEstablished S2
1M return
+9.8%
3M return
+38.9%
6M return
+57.9%
1Y return
+46.1%
RS 1D
+1
RS 20D
+5
Sector rank
#5
Industry rank
-
Stage evidence
- Price is 33.7% above the 30-week proxy.
- The 50-DMA is above the 30-week proxy and its slope is rising +4.3%.
- Both 3-month and 6-month returns are positive.
50-DMA
price above
200-DMA
price above
S2 entered
21 Aug 2026
S2 age
40 trading sessions
Sector
neutral
Industry
unranked
Relative-strength line vs Nifty 500 (base 100)
262 observations
19 Oct 2026Value 169.24+2.53%
RS vs Nifty 500169
Valuation & peers
U-Score 27 · legacy U-Score band OVERVALUED · valuation evidence and comparable companies
Valuation & peers
U-Score 27 · legacy U-Score band OVERVALUED · valuation evidence and comparable companies
OVERVALUED
Fundamental score breakdown
U band · OVERVALUEDValuation0/30
Growth15/25
Quality0/20
Balance Sheet8/15
Cash Flow2/10
Piotroski
6/9 (+3)
Penalties
-1
Raw sum
27
Why this score?
Top U-Score contributors and drags from the latest stored fundamentals.
27/100 · legacy band OVERVALUED
Positive drivers
- Growth contributes 15/25 to the score.
- Balance sheet contributes 8/15 to the score.
- Cash flow contributes 2/10 to the score.
Main drags
- Penalty bucket subtracts 1 points.
- Fair-value margin of safety is negative at -660.7%.
- Valuation is weaker at 0/30; verify the latest quarterly trend.
Sector valuation model
Consumer valuation: PE/PEG and brand-quality premium
Consumer franchises can deserve higher multiples, but only when growth quality supports them.
Primary lens
PE and PEG relative to growth, ROE, margins, and brand strength.
Secondary checks
Volume growth, pricing power, distribution, same-store or category growth.
Main risk check
Premium valuation needs durable growth and margin resilience.
PE
316.0
PB
24.9
EV/EBITDA
186.7
ROE
7.2%
ROCE
8.6%
FCF Yield
—
Debt/Equity
0.2
MoS
-660.7%
Score movement
Stored run vs live recompute
This shows the stored score trend when snapshots exist, and also compares the latest stored nightly score with a live recompute from current fundamentals and price.
Stored run: 20 Oct 2026
v4.3-runtime-valuation
Final score
27
Previous: 27
Legacy U-Score band
OVERVALUED
Previous: OVERVALUED
Margin of safety
-660.7%
Previous: -660.7%
Score history
12 stored score snapshots. Latest stored move: -1 points.
20 Oct 2026
v4.3-runtime-valuation
29
29
29
28
28
28
28
28
28
28
28
27
Factor attribution
No pillar movement versus the latest stored run. Historical score trend will appear after snapshot storage is enabled.
Modelled fair value
Graham Number
₹1,376.4
-1719.6% MoS
Growth-justified P/E
39.3
Growth-justified Value
₹3,292.55
-660.7% MoS
PEG
3.73
Comparable companies
Peers
Business-comparable peers in Industrials — ranked by industry, sub-sector, theme-tag overlap, market cap, and U-Score similarity. Green cells mark the best available peer metric in this table.
Ticker
Name
Why peer
Score
PE
ROE
MoS
Verdict
TEGA
Large
Tega Industries Limited
Retail
match 103
29
—
5.9%
-7317%
OVERVALUED
KEI
Mid
KEI Industries Limited
Retail
match 102
43
43.9
14.7%
-8%
WATCHLIST
PRAJIND
Micro
Praj Industries Limited
Retail
match 95
25
104.0
1.5%
-8169%
OVERVALUED
PATANJALI
Mid
Patanjali Foods Limited
Retail
match 89
37
18.5
16.0%
-150%
WATCHLIST
SUPREMEIND
Mid
Supreme Industries Limited
Retail
match 88
37
44.3
15.8%
-553%
WATCHLIST
Business, management & trust
Growth engines, risks, management commitments and evidence-backed delivery
Business, management & trust
Growth engines, risks, management commitments and evidence-backed delivery
Business and thesis
Where growth can come from, and what can break the case
Thesis intactReviewed 2026-06-03T18:26:13.311Z
Management commentary snapshot
PTCIL reports strong Q3FY26 and 9MFY26 consolidated performance with Total Income up 114.6% YoY and 94.8% YoY respectively, driven by strategic wins and capability validation. EBITDA grew 36.0% YoY in Q3 and 27.7% YoY in 9M, while PAT increased 28.9% YoY in Q3 and 14.3% YoY in 9M.
The company is successfully transitioning from capability creation to validation, securing significant global aerospace and defense orders. Strong financial growth and strategic partnerships reinforce its position in high-value, mission-critical materials, suggesting continued momentum and scalability of its integrated SMTC ecosystem.
Growth engines
Global Orbital Launch Supply Chain Entry
Secured development & supply order for Blue Origin’s BE-4 engine Superalloy castings, entering orbital propulsion systems.
Long-Term Aerospace Agreements
Signed long-term supply agreement with Honeywell Aerospace for precision Titanium and Superalloy investment castings.
Strategic Materials for Space
Received order from ISRO–VSSC for 40 tonnes of Grade-1 Titanium Sponge to Ti-6AI-4V Alloy Ingots using Double VAR.
Integrated Manufacturing Ecosystem
Building India’s most advanced integrated Titanium & Superalloy manufacturing ecosystem at the UP Defence Corridor.
Capacity and execution
Large-format VIM furnace
Newly commissioned large-format VIM furnace at Aerolloy enables large Superalloy heats for advanced propulsion systems.
Plasma Arc Melting (PAM) Furnace
Completed installation of PAM furnace at Lucknow SMTC, enhancing operational flexibility and Titanium melting backbone.
TRAC Manufacturing Upgrade
Installed first Makino BX3 Deep-Hole Drill; two more Makino BX3 machines arriving in May to enhance precision and capacity.
Mehsana Plant Expansion
Added 50,000+ sq ft of new shop floor area at Mehsana plant, incorporating robotics and automated fettling systems.
Tailwinds
India–European Union Free Trade Agreement
Expected to open high-value opportunities across advanced manufacturing, technology, and engineering, strengthening India-EU partnerships.
PLI Scheme 1.2 for Strategic Materials
Signed MoUs with Ministry of Steel under PLI Scheme 1.2 for Titanium & Super Alloys, supporting self-reliance and reducing import dependence.
Market Demand Shift
Management notes market demand shifting toward high-integrity, traceable, mission-critical materials, where PTC is uniquely placed.
Management accountability
What management said, and what results must prove
Issuer guidance and extracted claims are tracked against later reported outcomes. Treat these as management statements, not IndiaPulse forecasts.
Analyst reading lens
Compare YOY
The company's business involves long-term projects and lumpy orders in advanced manufacturing for aerospace and defense. Year-over-year comparison provides a more stable and relevant view of growth and performance trends, mitigating short-term quarterly fluctuations.
Sector KPIs management disclosed
Total Income (Q3FY26)
₹165.4 Cr, up 114.6% YoY
Total Income (9MFY26)
₹406.0 Cr, up 94.8% YoY
EBITDA (Q3FY26)
₹34.6 Cr, up 36.0% YoY; Margin 20.9%
EBITDA (9MFY26)
₹87.9 Cr, up 27.7% YoY; Margin 21.6%
Management forward view
Transition to Validation
Q3 and 9MFY26 are important milestones as we transition from capability creation to capability validation, with investments translating into global programs.
Validation of Capabilities
Strategic wins like Blue Origin, Honeywell, and ISRO orders validate engineering depth, quality systems, and ability to meet global qualification thresholds.
Multi-Year Revenue Visibility
Milestones strengthen multi-year revenue visibility, elevate positioning in global aerospace/space supply chains, and reinforce SMTC ecosystem scalability.
Technology-Led Growth
Uniquely placed to capture disproportionate value and deliver sustained, technology-led growth as market demand shifts to high-integrity materials.
Thesis monitor
Numbers and claims to verify in the next filings
| Checkpoint | Current evidence | What to verify next |
|---|---|---|
| Blue Origin BE-4 Engine Order Progress | Development & supply order for BE-4 engine Superalloy castings. | Monitor progress on development and supply, and any further orders or expansion of scope. |
| Honeywell Aerospace LTA Execution | Long-term supply agreement for precision Titanium and Superalloy investment castings. | Track revenue contribution from Honeywell programs and utilization of dedicated production capacity. |
| TRAC Manufacturing Upgrade Impact | Installation of Makino BX3 Deep-Hole Drills to enhance precision and capacity. | Assess throughput improvements, precision gains, and ability to meet growing customer demand at TRAC. |
| Mehsana Plant Ramp-up | Addition of 50,000+ sq ft and incorporation of robotics at Mehsana plant. | Monitor ramp-up of new capacity, efficiency gains from automation, and contribution to global precision component demand. |
Verification checkpoints are IndiaPulse research interpretation, not investment advice.
Trust Score
67Limited evidence · low confidenceTrust Lite
Trust asks: does management behaviour match later outcomes? Higher is better, but confidence and evidence depth matter as much as the number.
Limited evidence: Claim history is still being built. It ranks around the 52nd percentile of the scored universe and 50th percentile within Industrials. Main check: cash conversion is weak at 40/100.
This is a financial-behaviour screen, not a claim-tested management reliability verdict.
Computed 20 Oct 2026
management-trust-v1
71 docs text-extracted · 2 concalls text-extracted
Score band
Limited evidence
Financial behaviour is scored, but management claims do not yet have enough outcome checks.
Relative rank
52nd percentile
overall median 67 · Industrials: 50th pctile, median 68 · Large: 29th pctile, median 73
Evidence depth
Financial-only
71 documents have extracted text, but claim history is not strong enough yet.
Claim delivery
Outcome history still building
0 claims extracted · No contradicted claim yet
How to read this Trust Score
Limited evidence · low confidenceWhat it measures
Reliability of management and financial delivery, using financial behaviour only.
Confidence
Treat this as an early read until more concalls and outcomes are matched.
Investor use
Acceptable, but check the weakest sub-score before increasing exposure.
Read Trust alongside U-Score, result consistency, and technical trend. A cheap stock with weak Trust needs a larger margin of safety; a high Trust score does not make an expensive stock attractive by itself.
Forensic breakdown
Read low sub-scores as due-diligence warnings, not automatic sell signals.
Promoter
78
strong · holding, pledge, alignment
Cash flow
40
weak · profit to cash conversion
Balance sheet
89
strong · leverage and solvency
Discipline
60
acceptable · capital discipline
Results
77
strong · quarterly consistency
Trust positives
- ▸Promoter holding is 56.5%.
- ▸Promoter pledge is zero.
- ▸4/4 latest quarters had positive YoY revenue growth.
- ▸4/4 latest quarters had positive YoY PAT growth.
Trust risks
- ▸Operating cash flow is negative at ₹-69 Cr.
- ▸Promoter holding fell 3.3%.
- ▸ROE is low at 7.2%.
- ▸OPM spread across recent quarters is 23%.
Trust Lite uses financial behaviour only. Prefer claim-tested Trust when enough concall claims have later outcomes.
Continue researching PTC Industries Limited
Important announcements & filings
Latest exchange and company disclosures found within the past two years.
Open source ↗
Announcement
Announcement under Regulation 30 (LODR)-Award_of_Order_Receipt_of_Order 14 Oct - Aerolloy Technologies won Safran LEAP titanium casting development order and signed long-term production MOU.
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation 14 Oct
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Press Release / Media Release 13 Oct - PTC Industries completed ₹1,800 crore QIP, issuing 8,54,700 shares at ₹21,060 each.
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Newspaper Publication 13 Sep
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation 19 Aug
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Newspaper Publication 17 Aug
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation 14 Aug
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Press Release / Media Release 6 Aug - Aerolloy signed landmark Airbus agreement for titanium castings on A320neo, A330neo and A350 programmes.
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Award_of_Order_Receipt_of_Order 17 Jul - PTC Industries won a landmark BrahMos Aerospace order for a strategic missile sub-system, to be executed over two years.
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Press Release / Media Release 17 Jul - PTC Industries wins landmark BrahMos Aerospace order for strategic missile sub-system development, integration and supply over two years.
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Newspaper Publication 14 Jul
Source: Bse
All information is for study purposes only. For investment decisions, consult your financial advisor. See Playbook for methodology.