The JV will design, develop and manufacture complete propulsion systems, guided bombs, and aero-engines for missiles, UAVs and loitering munitions, subject to regulatory approvals, the company said.
The MoU was inked at the Lokarpan ceremony at PTC’s Titanium and Superalloys Materials Plant in Lucknow.
“By combining Bharat Dynamics’ proven systems pedigree with PTC’s materials, manufacturing and precision-engineering expertise, we will create an indigenous, future-ready ecosystem for missiles, UAVs and next-generation strategic platforms – fully aligned with the vision of Atmanirbhar Bharat,” Sachin Agarwal, chairman and managing director of PTC Industries, said.
In August, PTC Industries CMD Agarwal had told CNBC-TV18 that the company is looking to double its revenue this year to around ₹750 crore and grow tenfold to ₹3,000–3,500 crore by 2029-30 (FY30)
Shares of PTC Industries ended the previous session 0.1% up at ₹16,699 crore. The stock has gained 25.2% this year, so far.
Also Read: RBL Bank CEO explains rationale behind Emirates NBD deal, outlines growth goals