By UDAYKUMAR K V :
In 2022, PTC Industries, a relatively unknown company, offered three rights shares for every two shares held. The offer at par was as good as a fabulous bonus for its shareholders and a great fortune for those who bought its offers in 1994 through the now-defunct OTCEI. Today, the share price is more than ₹14,000. The company set up by a great visionary, Satish Chandra Agarwal in the early 1960s speaks an inspiring success story – a success through early and unbeatable business positioning in the segments which he foresaw would thrive on the inevitable change of times in the global and domestic economic landscape.
Originally known as Precision Tools and Castings, founded in 1963 by Satish Chandra Agarwal, PTC Industries has an admirable business track record, thanks to the vision its founder set. Renamed PTC Industries on 22nd January 1999, the company is known for delivering superior returns to investors, as it has built its business step by step. The Lucknow-based specialised engineering company manufactures components and assemblies for high-end applications such as aerospace, oil and gas; valves and flow control, marine and power, rail and river transport, pulp and paper machinery and mining and earthmoving machinery. Only a visionary can build a company that now serves the flourishing businesses of modern India, which was a wild area for many enterprises in the days the company was set up.
Satish Chandra Agarwal had a vision and worked hard to build an entity with global competence. From being one of the first foundries in India to introduce the lost-wax investment casting process it came a long way; of course, after finding acceptance in the technologically advanced US and European markets in the 1980s. Satish Chandra Agarwal, a mechanical engineer spearheaded the company until he left for his heavenly abode on 7 November 2016.
Today PTC Industries has integrated cutting-edge, innovative process technologies with robotics and automation-assisted manufacturing facilities with a state-of-the-art infrastructure to manufacture a wide range of cast components. It has grown rapidly into the aerospace castings and precision components sector. It is an expert in industrial casting, titanium and vacuum melt alloy casting, powder metallurgy, precision CNC machining, etc. It is a global leader in high-precision metal components for critical and supercritical applications. These are done under various business verticals such as industrial castings, titanium castings, super alloy castings, microstructure controlled castings, aluminium castings, CNC Machining, titanium ingots, defence systems and sub-systems.
Last month, it acquired 100% ownership of Trac Precision Solutions Limited, a British company that provides precision-machined components to the aerospace, defence and power generation sectors. It is a strategic milestone for PTC Industries, as it aligns seamlessly with its vision and brings together two industry leaders with complementary expertise. Trac Precision Solutions is globally recognized for its advanced manufacturing capabilities, specialising in high-value, complex components such as high-pressure and low-pressure turbine blades, nozzle guide vanes, heat shields and seal segments for aero engines, industrial gas turbines, and defence systems which are vital for enhancing engine performance, efficiency, and reliability.
“The acquisition of Trac Precision Solutions is a transformational event for PTC Industries. It allows us to strengthen our global market position by integrating Trac’s unique expertise with our existing capabilities. Together, we can deliver unmatched value to our customers through a fully integrated supply chain, encompassing everything from material development to the final machined product,” said Sachin Agarwal, Chairman and Managing Director of PTC Industries and Aerolloy Technologies in a press note.
In 2022, PTC Industries offered a rights issue of 7.80 million shares at par at the ratio of three equity shares for every two shares held. The issue for ₹10 a share (at par) was better than a bonus with multiple gains for shareholders and maintaining the reserve position while the capital base expanded. In July 2024, 23 months after the rights offer at par, the share price crossed ₹15,000. Now it is traded at around ₹ 14,500 and on 3rd January 2025) the stock price went by ₹ 1170 rising nearly nine per cent.
In September 2024 the company allotted 5,30,315 equity shares to qualified institutional buyers (QIB) for ₹13,199.70 per share. Now the capital base of the company stands at ₹14.97 crore. In June 2023, the company listed its shares on the NSE, seven and a half years after they were listed on the BSE, migrating from the now-defunct OTC Exchange of India (OTCEI). Its debut on the main exchanges brought big fortunes for its public shareholders, who first bought the shares when the company offered 5.5 lakh shares for sale in December 1994 at par.
