Pricol Reports FY24 Consolidated Revenue from operations of INR 22,081.69 Mn with a 16.05% growth compared to FY23

Bengaluru, May 15^th, 2024: Pricol Limited. {BSE: 540293 & NSE: PRICOLLTD}, one of India’s leading auto component manufacturers, announces its results for the fourth quarter of financial year 2023-24.

Q4 – FY24 Consolidated Financial Performance:

Revenue From OperationsQ4-FY24: INR 5,662.12 MnYoY Growth: 11.09%

EBITDAQ4-FY24: INR 725.84 MnYoY Growth: 16.44%

EBITDA MarginQ4-FY24: 12.82 %

PATQ4-FY24: INR 415.02 MnYoY Growth: 39.25%

FY24 Consolidated Financial Performance:

Revenue From OperationsFY24: INR 22,081.69 MnYoY Growth: 16.05 %

EBITDAFY24: INR 2,786.42 MnYoY Growth: 18.17%

EBITDA MarginFY24: 12.62 %

PATFY24: INR 1,406.12 MnYoY Growth: 12.77%

Q4 – FY24 Business Highlights:

• Winner of “Golden Peacock Innovative Product/ Service Award” by Institute of Directors (IOD) for the year 2024 (for Driver Information System (DIS) with Internet of Things (IOT) Features for Premium Scooters) by Institute of Directors, India.  

• Won Bronze Award for “Excellence in Export” from ACMA Excellence Awards & 9th Technology Summit 2024. 

Management Comments:

Commenting on the performance of the Company, Mr. Vikram Mohan, Managing Director said 

“Our results for FY24 are in line with our strategic objectives and commitment. This success highlights the persistent efforts and strong dedication of our team, who diligently pursue our objectives. As we move into the next financial year, we are encouraged to continue this upward trend in our business. 

The evolving mobility market in India presents both obstacles and prospects. With a rising demand for the cutting-edge solutions we offer, we are strategically positioned to address these changing needs of the market. Our priority remains fostering growth and providing value to our stakeholders in this rapidly changing market landscape.”

Financial Statements:

Results for the quarter ended March 31, 2024, prepared under Ind AS, along with segment results, are available in              the Investor Relations section of our website  https://www.pricol.com/

Quarterly Conference Call:

The earnings conference call will be held on Thursday, May 16, 2024, at 04:00 PM (IST) to discuss the Financial Results and performance of the company for the quarter ended March 31, 2024. 

The earnings conference call will be accessible from all networks and countries through universal access dial-ins +91 22 6280 1341 / +91 22 7115 8242 also accessible at:  https://bit.ly/4dqbXc7

Further, the analyst(s)/institutional investor(s) presentation will be submitted to Stock Exchanges and shall also be hosted on the Company’s website at https://www.pricol.com/.

About Pricol Limited:

Pricol Limited (BSE: 540293 & NSE: PRICOLLTD) is one of India’s leading dashboard manufacturers headquartered in Coimbatore, South India. The company carries out its business and operations in Driver Information & Connected Vehicle Solutions and Actuation, Control, and Fluid Management Systems catering to leading automotive OEMs in Two / Three-Wheeler, Passenger Vehicles, Commercial Vehicles, Farm Equipment, and Offroad Vehicles across India and in international markets (45+ countries) with 2000+ product variants. 

The company has 8 manufacturing facilities across Coimbatore, Manesar, Pantnagar, Pune, Satara, and Sri City in India, 1 manufacturing plant in Jakarta, Indonesia with 3 international offices in Tokyo, Singapore, and Dubai.