Pricol Q2FY25 net profit up 35.94%, revenue up 15.54%

Automotive technology and precision engineering company Pricol Ltd reported a 35.94% year-on-year increase in consolidated net profit after tax (PAT) at Rs 450.70 million during the second quarter. Pricol's revenue from operations for the quarter stood at Rs 6,500.78 million, registering an on year growth of 15.54%.

The company's earnings before interest, taxes, depreciation, amortsation (EBITDA) for the quarter was Rs 871.24 million, up by 24.70% year-on-year, with an EBITDA margin of 13.40%.

The company's consolidated profit after tax (PAT) for H1FY25 stood at Rs 906.31 million, reflecting a 39.23% year-on-year growth compared to the same period in the previous financial year.

The company's revenue from operations for H1FY25 was Rs 12,529.87 million, registering a 15.51% year-on-year growth. EBITDA for H1FY25 was Rs 1,677.75 million, up by 23.03% on year, with an EBITDA margin of 13.39%.

Vikram Mohan, Managing Director of Pricol Limited, said, "Even as the overall industry experiences a relatively muted growth across the vehicle segments, I am pleased to share that we have sustained our growth momentum.” He added that the company’s strategic initiatives and focus on operational excellence are consistently delivering positive outcomes, as evidenced by its steady performance and the recent successful launch of new products.

Business highlights during the quarter, included receiving an award from Tata Motors Limited for "Sustainability Excellence" and obtaining certifications for its Information Security Management System (ISMS) and Trusted Information Security Assessment Exchange (TISAX).

The company will be hosting a quarterly conference call on Thursday, November 7, 2024, to discuss the financial results and performance for the quarter ended 30th September 2024.

Headquartered in Coimbatore, Tamil Nadu, Pricol's operations are classified into two main verticals– Driver Information and Connected Vehicle Solution (DICVS), and Actuation, Control and Fluid Management System (ACFMS).

The company supplies over 2,000 product variants to leading automotive original equipment manufacturers (OEMs) in the two/three-wheeler, passenger vehicle, commercial vehicle and off-highway vehicle segments across India and international markets.

Pricol has eight manufacturing plants across India, one manufacturing unit in Indonesia, and three international offices in Dubai, Tokyo and Singapore. The company is committed to technological advancement and innovation, and is recognised as a preferred partner to many leading automotive OEMs worldwide.