PTC Industries setting up Rs 300-cr titanium recycling plant in Lucknow

Engineering components manufacturer PTC Industries is investing Rs 300 crore to set up a titanium recycling plant in Lucknow as it aspires to be a supplier in the aerospace and defence.

PTC Industries is a provider of high precision metal components for critical industrial applications, including defense and aerospace companies.

Chairman and Managing Director Sachin Agarwal said that the proposed capital expenditure is on top of the Rs 350 crore continued expansion of the titanium casting plant, and that the new investment will only serve the aerospace and defense industry.

“We have a 50-acre campus near the Brahmos facility, which is already a customer we have, in the Lucknow defense corridor. The proposed titanium recycling facility will be the first of its kind in the private sector in the country,” Agarwal told PTI. Here on Friday.

The proposed facility, which will emerge over the next three to four years, will recycle waste generated by the aerospace industry during the manufacture of titanium ingots.

Typically, during the making of titanium castings, up to 80-90 percent of the titanium sponge is wasted – the so-called buy-to-fly ratio in the aerospace industry. We want to make this first class waste for reuse and thus become the first company in the country to do so, said Agarwal, who claimed that when finished, India will become the third country, after Russia and France, to have this technology.

The Lucknow-based company exports its metal castings and currently earns 85 percent of its revenue from this, with the rest coming from public sector defense and aerospace units such as DRDO, HAL, Brahmos, Bharat Dynamics, Mazagaon Docks, and others. It is not supplying any private player now.

Going forward, Agrawal said his focus will be on defense and aerospace where he expects to make a big inroads into titanium castings and expects this segment to contribute 75 per cent of the top line over the next five years.

Recently, PTC secured an order from French aerospace engineering company Safran Aircraft Engines to supply titanium castings (making it the only local company to do so) and is also in talks with another French company, Dassault Aviation, which makes the Rafale fighter jets, to supply them. The same.

He said the wholly owned subsidiary of Aerolloy Technologies aerospace and defense company PTC was inaugurated by Defense Minister Rajnath Singh. The facility manufactures aerospace components and strategic materials, including titanium, cobalt, and nickel superalloys.

PTC earned Rs 26 crore in top line net income of Rs 227 crore in FY23 and expects revenue to be around Rs 290 crore in this FY, given the high order book.

(Only the title and image for this report may have been reworked by the Business Standard staff; the rest of the content is generated automatically from a shared feed.)