Rico Auto bags Rs 1,500 crore new business in Q1 FY2019

by Autocar Pro News Desk , 03 Aug 2018

Gurgaon-based engineering company Rico Auto Industries, which supplies a wide range of high-precision fully machined aluminium, ferrous components and assemblies to automotive OEMs across the globe, has bagged new orders valued at Rs 1,500 crore in Q1 FY2019, taking its total order book to Rs 4,100 crore as on June 30, 2018.

In Q1 FY2019, the company reported net revenue of Rs 349 crore, up 28 percent YoY, EBITDA of Rs 43 crore (+29%) and EBITDA margin of 12.4 percent compared to 4.3 percent for the same period last year. Rico’s net profit was reported Rs 15 crore, up 7 percent compared to same period last year.

During the first quarter, the company has bagged orders from Kia Motors, Daimler, Punch Powertrain, BMW, Hero MotoCorp, Cummins, Honeywell and Tata Motors.

Rico, which provides integrated services including design, development, tooling, casting, machining and assembly across components, says it is now focusing on new clutch and CVT development for two-wheelers and also looking at developing components in the electric vehicle segment.

The company reported aftermarket sales of Rs 5 crore in Q1 FY19 and aims to take this to Rs 30 crore for the year.