Pricol Shares Hit Record High After Strong Q4 Earnings
The stock rose as much as 5.72% during the day to Rs 464 apiece on the NSE.
Shares of Pricol jumped nearly 6% on Thursday to an all-time high after its consolidated net profit rose 39% in the fourth quarter of financial year 2024.
The Coimbatore-headquartered automotive technology and precision engineered solutions company posted a profit of Rs 42 crore in the March quarter in comparison to Rs 30 crore in the year-ago period, according to an exchange filing.
Pricol Q4 FY24 Earnings Highlights (Consolidated, YoY)
Revenue up 12% to Rs 584 crore versus Rs 523 crore.
Ebitda up 21% to Rs 74 crore vs Rs 61 crore.
Margin expands to 12.7% vs 11.7%.
Net profit up 39% at Rs 42 crore vs Rs 30 crore.
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Pricol's stock rose as much as 5.72% during the day to Rs 464 apiece on the NSE. It was trading 3.34% higher at Rs 453.45 per share, compared to a 0.21% advance in the benchmark Nifty 50 at 9:55 a.m.
The share price has gained 91.78% in the 12 months and 19.11% on a year-to-date basis. The total traded volume so far in the day stood at 0.91 times its 30-day average. The relative strength index was at 70.05, implying that the stock may be slightly overbought.
Four analysts tracking the company have a 'buy' rating on the stock, according to Bloomberg data. The average of 12-month analyst price targets implies a potential of 2.5%.
