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'Buy' PTC Industries, Maintains ICICI Securities, Sees 34% Upside — Here's Why
ICICI Securities maintains its positive outlook on the PTC stock with an unchanged target price of Rs 20,070 (DCF-based valuation) .
01 Apr 2025, 10:58 AM IST 
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The recent order from Safran encompasses components for both LEAP-1A and LEAP-1B engines, reinforcing PTC’s competency in producing complex components for next-generation aero engines.
(Source: PTC Industries' Official LinkedIn Profile)
PTC Industries’ revenue should see a 56% CAGR through to FY32E, largely led by capacity ramp-up. Plus, its business model has a significant moat with only a handful of companies globally producing aerospace-grade Ti and superalloy castings. The current order from SAFRAN reinforces our belief that PTC Industries is likely to be an integral part of LEAP engines in the near future.
