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PTC Industries Ltd
NSE: PTCIL BSE: 539006 INE596F01018 Industrials Industrial Products 🔎 Screen
NIFTY 500 Smallcap 250
₹47 Cr
Market Cap
282.0
P/E
4.89
PEG
8.4%
ROCE
7.0%
ROE
0.17
D/E
23.0%
OPM
-3.9%
% from 52W High
85
α RS
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📈 Price History
Ratio Health
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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. {# https://www.bseindia.com/bseplus/AnnualReport/539006/72682539006.pdf#page.20000

✓ Strengths 3
  • Company is expected to give good quarter
  • Company has delivered good profit growth of 101% CAGR over last 5 years
  • Company's median sales growth is 19.9% of last 10 years
! Concerns

No concerns data yet.

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Strong Q4 beat: revenue +77% YoY, PAT +144% YoY; but full-year EBITDA margin contracted 519bps to 26.8%, highlighting cost pressure from ramp-up. quarter Investor Presentation One-Pager? Mar 2026
Revenue
₹237.3 Cr
+77.3% YoY (Q4 FY26 vs Q4 FY25)
EBITDA Margin
35.6%
+521 bps YoY (Q4); full-year 26.8% vs 32.0%, -519 bps
PAT
₹59.9 Cr
+143.8% YoY (Q4); full-year ₹101.6 Cr, +66.4%
Full-Year EBITDA Margin
26.8%
Down 519 bps from 32.0% in FY25, a key concern
What Went Right
  • Revenue surged 77.3% YoY to ₹237.3 Cr in Q4, driven by aerospace and defence momentum.
  • EBITDA margin expanded 521 bps to 35.6% in Q4, reflecting operating leverage.
  • PAT grew 143.8% YoY to ₹59.9 Cr, supporting strong cash generation (though not separately disclosed).
  • Commissioned India's largest 4500/5100T open die forging system at SMTC, enabling full integration from melting to forging.
  • Deepened engagement with Blue Origin for BE-4 engine programme, validating global space-supply chain credibility.
What to Watch
  • Full-year EBITDA margin contracted 519 bps to 26.8% from 32.0% in FY25, indicating cost overruns during rapid expansion.
  • Full-year PAT margin fell 204 bps to 15.8% from 17.8%, despite revenue growth of 88%.
  • UK subsidiary Trac Precision reported EBITDA of only ₹15.5 Cr on revenue of ₹247 Cr, implying a thin 6.3% margin which drags group profitability.
  • No disclosure on net debt or free cash flow; high capex (forging system, VIM/VAR, PAM facility) likely limited cash conversion in FY26.
  • Revenue growth in Q4 came against a relatively low base (₹133.8 Cr in Q4 FY25); sustainability of >30% EBITDA margin is unproven at scale.
Investor Lens
Q4 FY26 results were optically strong with revenue up 77% and PAT up 144% YoY, but the full-year picture reveals margin compression — EBITDA margin fell 519bps to 26.8% and PAT margin dropped 204bps to 15.8%. The UK subsidiary's low margin (6.3%) is a drag. Management's commentary focuses on capability milestones (forging system, Makino G7) and key customer wins (Blue Origin, Honeywell, Safran), which support the long-term thesis of an integrated aerospace-grade platform. However, near-term profitability is under pressure from heavy capex and ramp-up costs. Key watch items for next quarter: margin recovery in the core Aerolloy segment, utilisation of the new forging system at SMTC, and any improvement in Trac Precision's profitability. No specific numeric guidance was provided, leaving visibility limited. The thesis remains intact for the patient investor, but near-term earnings volatility is likely.
From investor presentation · AI-generated analysis · Not investment advice
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📈 STRONG Revenue up 84% YoY, OPM expands to 32%, PAT surges 140%.
Revenue
Revenue jumped 84.4% YoY to ₹225 Cr, and rose 44.2% sequentially, indicating strong demand acceleration.
Profitability
Net profit more than doubled to ₹60 Cr (up 140% YoY, 233% QoQ), with EPS rising from ₹16.40 to ₹39.96. Low tax rate of 17% aided earnings.
Margins
Operating profit margin surged to 32% from 24% YoY and 16% in the prior quarter, reflecting cost control and operating leverage.
Cash Flow
Cash flow data not provided.
Balance Sheet
Borrowings at ₹261 Cr are modest against reserves of ₹1,492 Cr, resulting in a low debt-to-equity of 0.13.
Key Risks
PE of 364 reflects extreme valuation risk. The OPM jump from 16% to 32% QoQ may not be sustainable. Other income of ₹12 Cr adds volatility to earnings.
Outlook
The company is on a high-growth trajectory, but profit margins and other income need to stabilize for sustained performance. Rising base may moderate YoY comparisons.
Generated by AI · Mar 2026 results · Not investment advice
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