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23 Apr 2024, Edition - 3206, Tuesday

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Coimbatore

PRICOL REPORTS FY23 CONSOLIDATED PAT OF INR 114.94 CR WITH A 124.95% GROWTH COMPARED TO FY22.

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Coimbatore : Pricol Limited. {BSE: 540293 & NSE: PRICOLL TD}, one of India’s leading auto component manufacturers, announces its results for the fourth quarter of financial year 2022-23.Q4-FY23 Business Highlights: Production capacity enhancement in Tool room, Plastic Component Manufacturing Shop and SMT (Surface Mount Technology) for PCB assembly line by adding new machines. Award from CII as “Trendsetters in Business Innovation” for the various innovations done on Driver Information and Connected Vehicle Solutions. Award from Honda Motorcycle and Scooter India (HMSI) for Best Delivery Management at their Annual Supplier Conference.

Commenting on the performance of the Company, Managing Director , Vikram Mohan said
“In Q4 FY23, with the collective efforts of all our stakeholders, we managed to clock the highest ever topline in a particular quarter in the history of Pricol and closed the financial year with a performance exceeding our expectations. We had our fair share of challenges in terms of supply chain constraints, especially IC components, in this quarter as well, which had an impact on our bottom-line. We believe the supply chain issues will soften in the upcoming quarters and various measures have been put in place by our teams to address the same. We as a company are at a transformational stage wherein our superior technological solutions are enabling us to position ourselves as a global automotive technology brand. With a healthy order book, robust EV ready solutions, strong manufacturing competencies combined with strong financial footing and highly competitive talent force, we stand committed to deliver a consistent performance in the current financial year as well.”

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