Antique initiated coverage on PTC Industries with a ‘Buy’ rating. The brokerage firm set a target price of Rs 13010 on the stock, which shows an upside potential of 11% from the current market prices.
“PTC is setting up titanium and super alloy mills, based on VAR and EBCHR technologies, which will start production in FY25. The company has already signed contracts and MoUs with leading OEMs, which has created a significant order pipeline for the company. Given the high growth visibility and significant value addition leading to +50% EBITDA margin, PTC is well poised to post a profit of INR 10 bn in FY28 from a base of INR 0.42 bn in FY24,” it said.
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