Mukul Agarwal Holds 1.07 Per Cent Stake: Aerospace & Defence Company and Bharat Dynamics Sign MoU to Form JV for Advanced Propulsion and Aero-Engines

PTC Industries Limited has announced the signing of a Memorandum of Understanding (MoU) with Bharat Dynamics Limited (BDL) to establish a Joint Venture Company dedicated to the design, development, and manufacture of propulsion systems, guided bombs, and aero-engines for missiles, UAVs, and loitering munitions. The proposed venture is subject to requisite regulatory approvals.

Bharat Dynamics Limited, a leading Indian public sector enterprise, is engaged in manufacturing guided missiles and underwater weapons for the Indian Armed Forces. The MoU was exchanged during the Lokarpan Ceremony of PTC’s Titanium & Superalloys Materials Plant at the Strategic Materials Technology Complex (SMTC) in Lucknow, in the presence of the Honourable Raksha Mantri, Shri Rajnath Singh, and the Honourable Chief Minister of Uttar Pradesh, Shri Yogi Adityanath.

This collaboration aims to strengthen the ‘Make in India’ initiative by reducing dependence on foreign suppliers and enhancing domestic propulsion manufacturing capabilities. The partnership will focus on developing liquid and solid rocket motors, ramjet, and turbojet engines for UAVs and drones. It will also leverage PTC’s expertise in high-performance materials and precision-engineered components for Defence and Aerospace applications to build an integrated, India-based design-to-delivery ecosystem for strategic propulsion and engine technologies.

Mr. Sachin Agarwal, Chairman and Managing Director of PTC Industries Limited, stated that the Joint Venture represents a significant step towards strengthening India’s self-Reliance in critical propulsion and engine technologies. He added that the collaboration combines BDL’s proven defence systems experience with PTC’s advanced materials and manufacturing capabilities to create an indigenous, future-ready ecosystem for missiles, UAVs, and next-generation strategic platforms in line with the vision of Aatmanirbhar Bharat.

PTC Industries Limited, headquartered in Lucknow, is a leading Indian manufacturer of precision metal components for high-performance applications with over six decades of expertise. Through its wholly owned subsidiary, Aerolloy Technologies Limited, the company manufactures titanium and superalloy castings for aerospace applications, catering to both domestic and international markets. PTC is also expanding its production capabilities through a multi-million-dollar (USD) investment in its Strategic Materials Technology Complex, which will feature advanced facilities for aerospace-grade titanium and superalloy materials along with modern foundries and machining units for precision components.

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