Pricol shares hit 52-week high on robust March quarter results

Pricol hits 52-week high: Shares of Pricol on Thursday soared as much as 5.28 per cent to a 52-week high of Rs 462.85 per share. The surge in the stock came on the back of a strong quarter-ending March financial year 2024 (Q4FY24).

The automotive components manufacturer’s net profit climbed 39.3 per cent to Rs 41.5 crore in the March quarter of financial year 2024 (Q4FY24), from Rs 29.8 crore in the same quarter a year ago (Q4Fy23).

Pricol’s revenue rose 11.1 per cent to Rs 566.2 crore in Q4FY24, from Rs 509.7 crore in Q4FY23.

The company’s earnings before interest, taxes, depreciation and amortisation (Ebitda), also known as operating profit, climbed 18.1 per cent on a year-on-year (Y-o-Y) basis to Rs 56.2 crore from Rs 47.6 crore. 

Consequently, the margin expanded 30 basis points to 9.9 per cent, from 9.3 per cent year-on-year (Y-o-Y).

The board re-appointed Vikram Mohan as the managing director of the company for a further period of 3 years from April 1, 2025 till March 31, 2028. 

On Q4 results, Vikram Mohan said, “our results for FY24 are in line with our strategic objectives and commitment. This success highlights the persistent efforts and strong dedication of our team, who diligently pursue our objectives. As we move into the next financial year, we are encouraged to continue this upward trend in our business. The evolving mobility market in India presents both obstacles and prospects. With a rising demand for the cutting-edge solutions we offer, we are strategically positioned to address these changing needs of the market. Our priority remains fostering growth and providing value to our stakeholders in this rapidly changing market landscape.” 

Headquartered in Coimbatore, Pricol is a dashboard manufacturer. The company carries out its business and operations in driver information & connected vehicle solutions and actuation, control and fluid management systems catering to leading automotive OEMs in two/three-wheeler, passenger vehicles, commercial vehicles, farm equipment and offroad vehicles across India and in international markets (over 45 countries) with more than 2,000 product variants. 

The company has 8 manufacturing units across Coimbatore, Manesar, Pantnagar, Pune, Satara and Sri City in India, 1 manufacturing plant in Jakarta, Indonesia, with 3 international offices in Tokyo, Singapore and Dubai.

At 11:01 AM, shares of Pricol were trading 2.31 per cent higher at Rs 449.75 per share. By comparison, S&P BSE Sensex was down 0.09 per cent at 72,918.89 levels.