Shares of PTC Industries Ltd surged 3% on 25 June after its subsidiary Aerolloy Technologies signed a strategic Memorandum of Understanding (MoU) with French aerospace giant Safran Aircraft Engines to jointly develop components and materials for military aircraft engines.

The development strengthens the firms’ current cooperation, as Safran and Aerolloy are already collaborating on the production of commercial LEAP engine parts. With this new deal, the collaboration moves into the defense space, which is viewed as a significant step toward increasing India’s self-reliance in military aviation manufacture.

Aerolloy specializes in aerospace casting and materials, whereas Safran is world-renowned for its competence in the design and maintenance of civil and military aircraft engines. The collaboration is planned to establish a new framework for defence sector cooperation under the “Make in India” initiative.

“The MoU with Safran is a milestone in enhancing indigenous capabilities in military engine manufacturing,” said Sachin Agarwal, Chairman and Managing Director of PTC Industries. “It not only furthers the Make in India agenda but also encourages innovation and collaboration in aerospace manufacturing,” he added.

PTC Industries reported mixed results for the March 2025 quarter, with profitability improving sharply while revenue fell slightly year on year.

However, at 11:42 am, the shares of PTC Industries were trading 0.69% lower at Rs 14,645 on NSE. 

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