PTC Industries wins a nine-month development order from Gun Factory Kanpur for two artillery components, building on its M777 howitzer work. Financial terms were not disclosed.
PTC Industries has picked up a development order from Gun Factory Kanpur for two artillery gun components, the company said Friday. The contract covers engineering development, manufacturing, and validation of parts designed to handle the load, shock, and vibration typical of artillery systems. Execution is set for nine months. The financial terms were not disclosed, citing strategic confidentiality.
The order is domestic and involves no related-party transaction. No promoter interest in the awarding entity was reported.
PTC already supplies cast components for BAE Systems' M777 ultra-lightweight towed howitzer programme, giving it established credentials in demanding artillery applications. The new order builds directly on that experience, Chairman and Managing Director Sachin Agarwal said, expanding the company's engagement with indigenous artillery platforms and reaffirming its commitment to India's defence self-reliance.
PTC shares fell 1.21% to ₹17,621 on the NSE by mid-session on July 24, 2026, against a previous close of ₹17,836. The stock hit an intraday low of ₹17,536 before partially recovering. Market capitalisation stood at roughly ₹26,427 crore.
The company, with over six decades in critical engineering, operates through its subsidiary Aerolloy Technologies and is expanding titanium and superalloy manufacturing at the Uttar Pradesh Defence Industrial Corridor's Lucknow node. It trades at a price-to-earnings multiple of 263.30.
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