PTC Industries (539006) Q2 24/25 earnings summary

Executive summary

• Q2 FY25 saw strong strategic growth, highlighted by the acquisition of a Hot Rolling Mill from the USA, enhancing production of Titanium Alloy Plates and Sheets for aerospace and defence sectors.

• Secured significant contracts with Israel Aerospace Industries and BAE Systems for Titanium castings, marking a first for Indian suppliers to IAI and a key partnership with BAE for M777 Howitzer components.

• Board approved unaudited standalone and consolidated financial results for the quarter and half year ended 30 September 2024, with statutory auditors issuing unmodified review reports.

• Strategic hiring of senior personnel and ongoing facility expansion in Lucknow support a vertically integrated value chain and global competitiveness.

• Group and standalone results reflect continued focus on manufacturing of metal components, with no separate reportable segments.

Financial highlights

• Q2 FY25 total income rose 34.0% year-over-year to ₹80.8 crore; H1 FY25 total income was ₹131.3 crore, down 2.5% year-over-year.

• Q2 FY25 EBITDA increased 60.8% year-over-year to ₹29.7 crore; H1 FY25 EBITDA grew 5.4% to ₹43.4 crore.

• Q2 FY25 profit after tax (PAT) surged 112.7% year-over-year to ₹17.3 crore; H1 FY25 PAT rose 14.3% to ₹22.2 crore.

• Consolidated revenue from operations for Q2 FY25 was ₹7,236.70 lakhs, up from ₹4,686.63 lakhs in Q1 FY25 and ₹5,751.37 lakhs in Q2 FY24.

• Consolidated net profit for Q2 FY25 was ₹1,730.59 lakhs, up from ₹489.57 lakhs in Q1 FY25 and ₹813.70 lakhs in Q2 FY24.

Outlook and guidance

• Expansion of production capabilities and new contracts are expected to drive continued innovation and growth.

• Focus on establishing a vertically integrated Titanium alloy value chain and enhancing global market presence.

• Management and auditors confirm compliance with Indian Accounting Standards and SEBI regulations, with no material misstatements identified.