PTC Industries Ltd

NSE: PTCIL BSE: 539006Metal

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

₹16,261

52W: ₹13251 — ₹19440

PE 659 · Book ₹898 · +1711% vs book

Market Cap₹24,379 Cr

Stock P/E659Price to Earnings

ROCE5.26%Return on Capital

ROE3.59%Return on Equity

Div. Yield0%Face Value ₹10

Strengths

+Company has reduced debt.
+Company is almost debt free.
+Company has delivered good profit growth of 27.2% CAGR over last 5 years

Weaknesses

−Stock is trading at 18.0 times its book value
−Though the company is reporting repeated profits, it is not paying out dividend
−The company has delivered a poor sales growth of 7.48% over past five years.
−Company has a low return on equity of 4.75% over last 3 years.
−Earnings include an other income of Rs.37.5 Cr.
−Promoter holding has decreased over last 3 years: -8.21%
−Working capital days have increased from 132 days to 226 days

Shareholding Pattern

Promoters59.72%

FIIs3.95%

DIIs9.21%

Public27.12%

Category	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026
Promoters	62.88%	59.81%▼3.1	59.75%▼0.1	59.75%	59.75%	59.75%	59.72%▼0.0	59.72%
FIIs	3.35%	4.53%▲1.2	3.37%▼1.2	3.07%▼0.3	3.39%▲0.3	3.41%▲0.0	3.86%▲0.4	3.95%▲0.1
DIIs	1.25%	4.64%▲3.4	6.5%▲1.9	7.6%▲1.1	7.73%▲0.1	8.51%▲0.8	8.45%▼0.1	9.21%▲0.8
Public	32.52%	31.02%▼1.5	30.37%▼0.6	29.6%▼0.8	29.14%▼0.5	28.32%▼0.8	27.98%▼0.3	27.12%▼0.9

Financial Statements

Metric	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025
Sales	53.05	52.52	70.23	46.06	69.21	58.37	67.55	51.18	74.78	68.07
Expenses	40.98	40.9	61.53	39.51	58.58	52.28	54.11	45.77	65.32	61.32
Operating Profit	12.07	11.62	8.7	6.55	10.63	6.09	13.44	5.41	9.46	6.75
OPM %	22.75%	22.12%	12.39%	14.22%	15.36%	10.43%	19.9%	10.57%	12.65%	9.92%
Net Profit	5.48	4.57	4.53	2.78	9.06	8.13	15.08	8.18	8.16	5.56
EPS ₹	4.04	3.37	3.14	1.93	6.05	5.43	10.06	5.46	5.45	3.71

AI Insights

Revenue Trend

TTM revenue at ₹262Cr, up 8.7% YoY. OPM at 13%.

Debt Position

Borrowings at ₹46Cr. Debt-to-equity ratio: 0.03x. Healthy balance sheet.

Capex Cycle

CWIP at ₹37Cr (16% of fixed assets). Moderate ongoing capital expenditure.

Institutional Flow

DIIs: 9.21% (+8.97pp change). FIIs: 3.95% (+3.95pp change). Promoters hold 59.72%.

Margin & Efficiency

ROCE declining from 13% (Mar 2014) to 5% (Mar 2025). Working capital days: 226.

Valuation

PE 659x with 5.26% ROCE. Price is 1711% above book value of ₹898. Dividend yield: 0%.