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ICICI Direct Report
Pricol Ltd., established in 1974, is a Coimbatore based supplier of diversified auto components like instrument clusters, sensors and switches, pumps and mechanical products, telematics solutions and wiping systems.
The company reported muted Q3 FY22 results. Total operating income came in at Rs 407 crore, flat QoQ. Ebitda margin came in at 11.6%, down 40 bps QoQ.
To strengthen its cluster segment (~60% of sales) it has entered into a technology tie-up with Candera and Sibros Technologies, Inc. for development and integration of connected technology into existing clusters and development of new clusters to meet requirement of new age auto original equipment manufacturers.
With peak revenue potential of ~Rs 2,200-2,400 crore annually that is largely achievable in the next two to three years, Pricol plans to augment its capacities, capabilities and is targeting revenues of ~Rs 4,000 crore by FY26.
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