Coimbatore, November 8, 2021: The Board of Directors at Pricol Limited (BSE: 540293; NSE: PRICOLLTD), one of India’s leading automotive technology companies, today approved the unaudited financial results for the quarter and half year ended on September 30, 2021.
Performance Highlights for Standalone Operations: INR in Cr.
Total Income stood at INR 389.77-cr in the quarter ended September 30, 2021 as against INR 387.44-cr in the corresponding quarter in FY21. Revenue from operations for the second quarter of FY22 stood at INR 376.02-cr as compared to INR 372.30-cr in the second quarter of FY21
The Company’s Earnings before Interest, Tax, Depreciation and Amortization (Operational EBITDA) stands at INR 46.35-cr for the July – September 2021 quarter, as against INR 54.42-cr in July – September 2020. Profit Before Tax (PBT) stood at INR 20.33-cr for the second quarter of FY22 as compared to INR 19.83-cr in the second quarter of FY21. Profit After Tax (PAT) stands at INR 13.13-cr in Q2 (2021 – 2022) as against INR 21.27-cr in Q2 (2020 – 2021)
Total Income stood at INR 696.29-cr for the half year ended September 30, 2021 as against INR 504.79-cr in the corresponding period in FY21
Revenue from operations for the first half of FY22 stood at INR 668.77-cr as compared to INR 476.26-cr in the first half of FY21
The Company’s Earnings before Interest, Tax, Depreciation and Amortization (Operational EBITDA) stands at INR 79.05-cr for April – September 2021, as against INR 56.83-cr for April – September 2020. Profit/(Loss) Before Tax – PBT stood at INR 24.39-cr for the first half of FY22 as compared to INR (11.39)-cr in the first half of FY21. Profit/(Loss) After Tax – PAT stands at INR 15.54-cr in H1 (2021 – 2022) as against INR (7.66)-cr in H1 (2020 – 2021)
From the MD’s Desk
Commenting on the company’s performance, Mr. Vikram Mohan, Managing Director, Pricol Limited said, “Nationwide lockdowns during the second wave of COVID-19 and severe semiconductor shortages globally did impact the revenue and the profitability in the first quarter of the fiscal. The semiconductor shortage situation continued in Q2 as well. On our part, we have continued to maintain operational efficiency to navigate through the challenges faced by the auto industry.
Our primary focus during these times has been to create a strong order book, higher operational efficiency and increase free cash flow. We continue to invest heavily in next-gen technology to keep increasing our product portfolio and sustain growth. We also continue to focus on debt reduction towards achieving a goal of being long term debt free over the next few quarters. We are also currently evaluating multiple opportunities to enhance our product portfolio with a view to increase our shareholder wealth and keep our growth pace intact.”
About Pricol Limited
Pricol Limited is one of India’s leading automotive technology companies headquartered in Coimbatore. Pricol commenced its operations in the year 1975 in Coimbatore, South India and today it strides as a reputable global brand in the automotive component and products business, highly recognized by top automotive OEMs across the world. The company carries out its business and operations in Driver Information Systems and Sensors, Pumps and Allied Products, Telematics and Wiping Systems catering to leading automotive OEMs in Two / Three Wheeler, Passenger Vehicles, Commercial Vehicles, Farm Equipment and Off-Road Vehicles across India and in International Markets (45+countries) with 2000+ product variants.
Today the company has 7 manufacturing plants across Coimbatore, NCR, Pantnagar, Pune and Sricity, 1 subsidiary manufacturing plant in Satara, 1 manufacturing unit in Indonesia; and 2 international offices in Tokyo and in Singapore. Pricol Group is powered by 5000+ strong, dedicated workforce which resolutely pursues the mission to be PASSIONATE, SUSTAINABLE, DYNAMIC and EVOLVING. The logo addresses the synergistic relationship between the four stakeholders (Customers, Employees, Shareholders and Suppliers) working in a convergent manner in order to create value for each other. As, Indian markets are on the flow to march towards Electric Vehicles manufacturing, Pricol has already switched its gear to be EV ready across its product verticals.