Pricol limited – OEM automotive

Pricol as released its financial results for the second quarter of the fiscal year 2023-24. Here’s a detailed summary of the information provided:

Q2-FY24 Consolidated Financial Performance:

• Revenue From Operations: In Q2-FY24, Pricol recorded revenue from operations of INR 5,626.62 million, reflecting a year-on-year (YoY) growth of 12.31%.
• EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization): The Q2-FY24 EBITDA stood at INR 698.68 million, with a YoY growth of 7.50%.
• EBITDA Margin: The EBITDA margin for Q2-FY24 was 12.42%.
• PAT (Profit After Tax): The profit after tax for Q2-FY24 amounted to INR 331.55 million.

H1-FY24 Consolidated Financial Performance:

• Revenue From Operations: In the first half of FY24 (H1-FY24), the company reported revenue from operations of INR 10,847.66 million, demonstrating a significant YoY growth of 16.02%.
• EBITDA: The EBITDA for H1-FY24 reached INR 1,363.73 million, showing a YoY growth of 12.10%.
• EBITDA Margin: The EBITDA margin for H1-FY24 was 12.57%.
• PAT: The profit after tax for H1-FY24 amounted to INR 650.93 million.

Q2-FY24 Business Highlights:

• Pricol received an award from Mitsubishi Heavy Industries Group for “Best Support” at their Supplier Conference. They were also awarded the status of “Self-Certified Supplier” for the year FY24, which signifies the company’s reliability and quality of support.
• The company was recognized with an award under the category of “Supplier Reliability Cluster Program” from TVS Motors.
• Pricol made strategic investments in Surface-mount technology (SMT) for printed circuit board (PCB) Assembly Line and Disc Brake assembly lines, highlighting their commitment to enhancing manufacturing capabilities and solutions.