Pricol aims to enter new mkts; eyes to double revenues by 2020

Auto component firm Pricol, which today unveiled its new brand identity, aims to double its revenue globally by 2020 as it plans to enter new markets through acquisitions and tapping new product segments.
"India's largest producer of speed governors and cabin tilt mechanisms for the commercial vehicle segment and among the top ten global manufacturers of automotive sensors, Pricol has set a target of doubling its consolidated revenue globally by 2020," the company said in a regulatory filing.
The company had posted revenues of Rs 1,150 crore for 2014-15 financial year. It aims to close the current fiscal with sales revenue of around Rs 1,450 crore.

Pricol plans to focus on new regions and segments to expand its business globally.
"Pricol will focus on entering newer markets through acquisitions, tapping new product segments which would be achieved through a very strong focus on innovation with our growing team of over 275 global R&D engineers," Pricol Managing Director Vikram Mohan said.
Meanwhile, the company today unveiled its new brand entity.

"Our new corporate identity showcases Pricol as an innovative, evolving global automotive component maker with a track record of 40 years of customer service with a passion to excel in every product and service that we provide," Mohan said.

Pricol is a leading manufacturer of driver information systems (DIS) and automotive pumps for the two-wheelers. It also produces instrument clusters and telematics solutions for tractor and off highway vehicles.
The company's domestic and international customers include automotive firms like Volkswagen, Fiat, General Motors, Harley Davidson and Mack Trucks, among others.
Pricol currently has eight manufacturing units and employs over 5,000 people across the globe.
Pricol shares closed 0.49 per cent down at Rs 40.60 apiece on the BSE.