Shares of multibagger PTC Industries Ltd are set to nearly double in a year, says brokerage ICICI Securities. PTC Industries stock closed 4% higher at Rs 10,515 on Monday. Market cap of PTC Industries climbed to Rs 15,755 crore. PTC Industries saw a turnover of Rs 71.34 lakh on Monday as 702 lakh shares changed hands on BSE. The stock has gained 26% in last one year and zoomed 322% in two years. PTC Industries shares gained 574.62% in three years.
PTC Industries stock has fallen 42.83% from its 52-week high of Rs 17,978 on January 9, 2025. It fell to a 52-week low of Rs 7025.05 on May 13, 2024. The stock has a beta of 1.5, indicating very high volatility in a year.
In terms of technicals, the relative strength index (RSI) of PTC Industries stands at 26.3, signaling it's trading in the oversold territory. PTC Industries shares trade lower than the 5 day, 10 day, 20 day, 30 day, 50 day, 100 day, 150 day and 200 day moving averages.
ICICI Securities expects PTC’s revenue to grow at 56% CAGR through to FY32E, largely led by capacity ramp-up. "Its business model has a significant moat with only a handful of companies globally producing aerospace-grade Ti and superalloy castings," said the brokerage.
"PTC is further augmenting its capabilities by getting into powder metallurgy and strategic acquisitions such as Trac. In our view, the recent correction provides an opportunity for investors. The stock is trading at relatively inexpensive 34x FY27E EPS and there is a good earnings growth roadmap ahead. We maintain our BUY rating on the PTC stock with an unchanged price target of Rs 20,070 on a DCF-based methodology," added ICICI Securities.
The company reported a 76 per cent year-on-year (YoY) rise in consolidated net profit. Profit rose to Rs 14.24 crore in the December 2024 quarter (Q3FY25) on higher other income. On a sequential basis, profit was down 18 per cent from Rs 17.39 crore in Q2FY25. Revenue from operations climbed 20.6 per cent YoY at Rs 66.92 crore; and other income more-than-doubled to Rs 10.19 crore from Rs 3.61 crore in Q3FY24.
PTC Industries is a leading manufacturer of engineering components for critical and super critical applications. PTC exports over 75% of its products to various countries across the world to renowned customers such as Rolls Royce, Siemens, GE, Alstom, Metso, and Emerson among others.