Pricol rises for second day; zooms over 163% in one year

Pricol surged 11.99% to Rs 133.50, extending gains for second day.

In two sessions, the stock has gained 11.81% in two sessions, from its recent closing low of Rs 119.40 recorded on 11 January 2022.

In the past one year, the stock has zoomed 163.55% while the benchmark Sensex had risen 23.62% during the same period.

In an exchange filing made during market hours today, Prico said that the credit ratings agency ICRA had reaffirmed the company's long term rating at '[ICRA) BBB (Stable)' and the short term rating at '[ICRAI A3+'.

Pricol manufactures over 2,000 products such as instrument clusters/telematics, fuel pump modules, oil and water pumps, fuel level sensors, temperature and pressure sensors, wiping systems, among others at its plants located in Gurugram (Haryana), Phulgaon (Pune), Pantnagar (Uttarakhand) and Sricity (Andhra Pradesh). It has three subsidiaries, one each in India (wiping systems), Indonesia (instrument clusters and pumps) and Singapore (procurement arm of Pricol for overseas supplies).

The company's consolidated net profit declined 70.38% to Rs 14.67 crore despite 5.16% rise in sales to Rs 395.60 crore in Q2 FY22 over Q2 FY21.

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