PTC Industries ' wholly owned subsidiary Aerolloy Technologies Limited has secured a significant milestone by signing two Memoranda of Understanding with the Ministry of Steel under the Production Linked Incentive Scheme 1.2 for Specialty Steel. The agreements, signed on February 10, 2026, cover manufacturing capabilities for Titanium Alloys and Super Alloys, positioning the company at the forefront of India's strategic materials manufacturing sector.

Strategic Partnership Under PLI Scheme 1.2

The MoUs were formalized at an official signing ceremony organized by the Ministry of Steel, attended by the Honourable Union Minister of Steel. This partnership represents a crucial step in India's initiative to develop domestic manufacturing capability for high-value, strategic material categories that are essential for national security and industrial advancement.

Titanium Alloys and Super Alloys fall under the "Steel Grades for Strategic Sector" category and attract among the highest incentive rates under the scheme, applicable on incremental annual sales for the duration of the PLI period.

Unique Manufacturing Capabilities

Aerolloy Technologies distinguishes itself as the only company in India with fully integrated, end-to-end manufacturing capability across both Titanium Alloys and Super Alloys. The company's comprehensive manufacturing ecosystem encompasses multiple critical processes within a single vertically integrated platform:

• Alloy development and melting into aerospace-grade ingots
• Conversion into billets, bars, rods, sheets, and plates through forging and rolling
• Remelting and near-net-shape precision investment casting
• Final machining of complex, flight-critical components

This depth of integration proves critical for strategic sectors where traceability, process control, quality assurance, and long-term reliability are paramount requirements.

Strategic Materials for National Capability

Titanium alloys and super alloys serve as foundational materials for aerospace, defence, space, and advanced energy applications, where performance, reliability, and metallurgical integrity are critical factors. Indigenous capability in these materials is essential for reducing import dependence, ensuring supply chain security, and supporting India's long-term strategic and industrial objectives.

The PLI Scheme for Specialty Steel represents a key Government of India initiative aimed at catalysing investment in advanced material categories, enabling the development of globally competitive manufacturing capacities, and strengthening domestic value chains for strategic sectors.

Financial and Strategic Impact

The PLI incentives under Scheme 1.2 are expected to provide meaningful financial benefits to Aerolloy and PTC Industries through several key mechanisms:

Management Commentary

Mr. Sachin Agarwal, Chairman & Managing Director of PTC Industries Limited, emphasized the significance of this development: "The signing of these MoUs under PLI Scheme 1.2 is a significant milestone for Aerolloy and PTC. Titanium alloys and super alloys are core to next-generation aerospace, defence, and space platforms, and sovereign capability in these materials is essential for India's long-term strategic autonomy."

He further acknowledged the policy framework: "We are grateful to the Ministry of Steel for its sustained policy focus on advanced and strategic materials and for creating an enabling framework to support long-gestation, technology-led investments. We also acknowledge the Ministry of Defence's continued emphasis on indigenisation and its recognition that leadership in strategic materials is fundamental to India's aerospace and defence preparedness."

Company Background

PTC Industries Limited operates as a leading Indian manufacturer of precision metal components and strategic materials for critical applications, with over six decades of experience. Through Aerolloy Technologies Limited, the group manufactures Titanium and Super Alloy materials and components for aerospace, defence, and space applications in India and globally. The company continues to make substantial investments in building a fully integrated advanced materials ecosystem at the Uttar Pradesh Defence Industrial Corridor.

Public sector telecommunications consultant TCIL has imposed a two-year blacklist on global technology major Cisco, effectively barring the company from participating in any future tenders floated by the PSU. The decisive action follows serious allegations of unfair business practices that allegedly compromised the integrity of a government bidding process.

Allegations Against Cisco

TCIL has accused Cisco of engaging in unfair, illegal and monopolistic practices that adversely impacted a recent government bidding process. According to the PSU, Cisco deliberately sabotaged its bid for a tender floated by the Karnataka government by introducing last-minute conditions and creating artificial hurdles designed to undermine TCIL's participation.

The allegations suggest these actions were strategically aimed at securing unlawful commercial gains for Cisco, raising serious concerns about fair competition in government procurement processes.

Karnataka KSWAN Project Controversy

The dispute centers around tender reference CEG/2025-26/IND0043 and its subsequent re-issue, which has drawn criticism over alleged manipulation of the bidding process. The controversy relates to the Karnataka State Wide Area Network (KSWAN) project, a critical initiative designed to provide secure and reliable network connectivity across government offices throughout the state.

Bidding Process Timeline

The Centre for e-Governance (CeG) initially framed the Request for Proposal (RFP) to support a multi-OEM architecture and conventional routing-based network design, aligning with established industry standards. The original tender floated on July 11, 2025, attracted significant interest from major players in the telecommunications sector.

Tender Cancellation and Re-issue

Despite receiving three competitive bids, authorities reportedly opened only the pre-qualification documents before cancelling the entire tender, citing 'improper' submissions. This decision raised eyebrows within the industry, particularly given the participation of established telecommunications companies.

Following the cancellation, CeG constituted a technical committee that claimed the earlier specifications were 'outdated'. The committee's recommendations led to the issuance of a revised tender on December 8, 2025. Critics have alleged that this process created a de facto single-vendor scenario, potentially undermining the competitive bidding process that government procurement rules are designed to ensure.

Industry Impact

The blacklisting of a major technology provider like Cisco by a public sector entity represents a significant development in India's telecommunications procurement landscape. The two-year ban will prevent Cisco from participating in TCIL tenders during this period, potentially affecting the company's business prospects in the public sector telecommunications segment. The controversy also highlights ongoing challenges in ensuring fair and transparent bidding processes in government technology procurement.