PTC Industries Ltd

₹ 17,199 -0.63%

15 Jan 2:06 p.m.

About

PTC Industries Limited manufactures metal components for critical and supercritical applications for industries like Defence, Oil & Gas, Liquefied Natural Gas (LNG), Ships & Marine etc. ^[1]{# https://www.bseindia.com/bseplus/AnnualReport/539006/72682539006.pdf#page.20000

Key Points

Products
PTC is a leading Indian manufacturer of precision metal components for critical applications. It manufactures stainless steel, duplex, super duplex, nickel, cobalt alloys, non-alloy steel castings solutions, machined components, and fabricated parts catering to the Oil & Gas, Aerospace, Marine, Pulp & Paper, Petrochemical, and Energy industries. It uses various indigenously developed technologies like Centrifugal Castings, Replicast, RapidCast, ForgeCAST, and Titanium Powder for casting. Its WOS Aerolloy Technologies (ATL) manufactures titanium and superalloy castings for aerospace and defense applications across the globe^[1] ^[2]

Website BSE NSE

Market Cap ₹ 25,772 Cr.
Current Price ₹ 17,199
High / Low ₹ 17,995 / 6,829
Stock P/E 1,231
Book Value ₹ 873
Dividend Yield 0.00 %
ROCE 7.83 %
ROE 5.22 %
Face Value ₹ 10.0

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Pros

Company has reduced debt.
Company is almost debt free.

Cons

Stock is trading at 19.7 times its book value
Though the company is reporting repeated profits, it is not paying out dividend
Promoter holding has decreased over last quarter: -3.08%
The company has delivered a poor sales growth of 10.3% over past five years.
Company has a low return on equity of 6.43% over last 3 years.
Earnings include an other income of Rs.21.1 Cr.
Company's cost of borrowing seems high

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Sector: Castings, Forgings & Fastners Industry: Castings & Forgings

Part of BSE 400 MidSmallCap Index BSE Industrials Nifty Total Market BSE 500 Nifty 500 BSE SmallCap BSE Allcap Nifty MidSmallcap 400 Nifty Smallcap 250 Nifty 500 Multicap 50:25:25 BSE 250 SmallCap Index

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Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024
	38.29	44.90	50.69	46.05	54.04	56.77	59.13	70.81	53.05	52.52	70.23	46.06	69.21
	30.67	37.62	41.93	35.74	38.12	47.04	47.11	54.42	40.98	40.90	61.53	39.51	58.58
Operating Profit	7.62	7.28	8.76	10.31	15.92	9.73	12.02	16.39	12.07	11.62	8.70	6.55	10.63
OPM %	19.90%	16.21%	17.28%	22.39%	29.46%	17.14%	20.33%	23.15%	22.75%	22.12%	12.39%	14.22%	15.36%
	1.97	0.13	2.29	1.45	2.63	4.20	2.39	3.66	2.97	2.91	4.84	4.32	9.02
Interest	3.59	3.59	4.04	3.78	4.51	3.95	3.16	3.55	3.66	4.25	3.33	3.10	3.33
Depreciation	3.63	3.67	3.62	4.11	4.13	4.13	4.11	4.09	4.09	4.11	4.08	4.02	4.12
Profit before tax	2.37	0.15	3.39	3.87	9.91	5.85	7.14	12.41	7.29	6.17	6.13	3.75	12.20
Tax %	24.05%	86.67%	28.32%	29.46%	25.53%	24.62%	21.71%	25.46%	24.97%	25.93%	26.26%	26.13%	25.66%
	1.80	0.02	2.44	2.73	7.37	4.41	5.59	9.26	5.48	4.57	4.53	2.78	9.06
EPS in Rs	1.37	0.02	1.86	2.08	5.63	3.30	4.18	6.92	4.09	3.37	3.14	1.93	6.05
Raw PDF

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	TTM
	138	119	101	96	99	101	151	168	163	179	216	247	238
	115	99	83	83	84	86	127	140	128	142	168	198	201
Operating Profit	23	20	18	13	15	15	24	28	35	37	48	49	38
OPM %	17%	17%	17%	14%	15%	15%	16%	17%	21%	21%	22%	20%	16%
	-2	1	-0	3	2	3	4	7	5	5	11	14	21
Interest	8	5	3	3	3	4	9	11	13	15	15	15	14
Depreciation	4	4	6	5	6	6	9	10	14	15	16	16	16
Profit before tax	9	11	9	8	8	8	9	14	12	13	27	32	28
Tax %	15%	45%	24%	25%	23%	12%	-16%	24%	64%	27%	25%	26%
	8	6	6	6	6	7	11	11	4	10	20	24	21
EPS in Rs	7.30	5.73	4.95	4.69	4.59	5.68	8.34	8.02	3.35	7.25	15.02	16.50	14.49
Dividend Payout %	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%

Compounded Sales Growth
10 Years:	8%
5 Years:	10%
3 Years:	15%
TTM:	-1%

Compounded Profit Growth
10 Years:	13%
5 Years:	16%
3 Years:	97%
TTM:	-15%

Stock Price CAGR
10 Years:	%
5 Years:	162%
3 Years:	105%
1 Year:	148%

Return on Equity
10 Years:	6%
5 Years:	6%
3 Years:	6%
Last Year:	5%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Sep 2024
Equity Capital	4	4	5	5	5	5	5	5	5	5	13	14	15
Reserves	58	65	109	115	117	124	135	145	150	160	284	604	1,292
	68	69	25	60	121	140	143	151	176	191	139	143	56
	24	27	21	23	32	40	57	53	61	58	66	59	60
Total Liabilities	154	165	160	202	275	309	340	354	393	415	503	820	1,422
	50	48	43	44	49	62	130	212	211	234	226	212	234
CWIP	9	18	35	66	135	153	97	19	29	6	29	43	22
Investments	0	0	0	0	0	0	0	0	8	22	65	189	284
	96	99	82	92	92	95	114	123	144	153	184	376	881
Total Assets	154	165	160	202	275	309	340	354	393	415	503	820	1,422

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
	12	27	13	14	12	15	30	18	5	24	55	16
	-11	-21	-9	-45	-68	-27	-18	-16	-17	-28	-92	-174
	-1	-4	-6	31	56	12	-8	-6	12	3	42	286
Net Cash Flow	-1	2	-2	-0	0	0	4	-4	-0	-0	5	128

Ratios

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Debtor Days	110	97	115	118	100	121	106	95	141	125	106	148
Inventory Days	256	274	430	529	598	508	394	520	463	444	366	249
Days Payable	95	83	110	145	135	232	314	273	239	130	108	57
Cash Conversion Cycle	271	289	435	502	563	397	186	343	366	440	364	340
Working Capital Days	160	171	203	219	199	195	119	151	218	227	180	258
ROCE %	16%	13%	9%	7%	5%	5%	7%	9%	8%	9%	11%	8%

Shareholding Pattern

Numbers in percentages

	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024
	67.78%	67.80%	67.80%	69.41%	67.93%	67.93%	67.93%	67.03%	66.96%	62.95%	62.88%	59.81%
	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	1.72%	1.75%	3.82%	3.35%	4.53%
	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.24%	0.32%	0.46%	0.44%	1.25%	4.64%
	32.22%	32.20%	32.20%	30.58%	32.07%	32.07%	31.83%	30.92%	30.83%	32.79%	32.52%	31.02%
No. of Shareholders	3,223	3,584	3,855	4,588	5,227	5,544	5,969	6,789	8,161	10,305	15,276	15,954

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Sep 2024
	62.77%	62.77%	62.77%	62.77%	67.76%	67.80%	67.93%	62.95%	59.81%
	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	3.82%	4.53%
	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.44%	4.64%
	37.23%	37.23%	37.23%	37.23%	32.24%	32.20%	32.07%	32.79%	31.02%
No. of Shareholders	771	1,226	1,262	1,324	2,079	3,584	5,544	10,305	15,954

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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Nov 2024

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Feb 2024

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Nov 2023

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Sep 2023

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Aug 2023

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Jun 2023
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Oct 2022

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May 2022

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Apr 2022

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Feb 2022

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Dec 2021

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Sep 2021

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Mar 2021

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Sep 2020

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Oct 2019

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Sep 2019

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Sep 2018

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Sep 2017

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