• Download mobile app
29 Nov 2022, Edition - 2695, Tuesday

Trending Now

  • ISRO successfully launches PSLV-C54 carrying observation satellite and 8 nano-satellites
  • BJP president Nadda releases manifesto for Gujarat assembly polls; Key promises
  • Security forces kill four Maoist militants in encounter in Chhattisgarh

Coimbatore

PRICOL REPORTS HIGHEST EVER QUARTERLY REVENUE OF INR 501 CR AND REPORTS Q2-FY23 PAT OF INR 37.78 CR (excluding exceptional items) WITH A 157.53% GROWTH COMPARED TO Q2-FY22

Covai Post Network

Share

Coimbatore: Pricol Limited. (BSE: 540293 & NSE: PRICOLLTD), one of India’s leading auto component manufacturers, announces its results for the second quarter of financial year 2022-23.

Q2-FY23 Business Highlights:

• Pricol was recognized with “GOING EXTRA MILE” award by TATA Motors for our proactive support to ramp up production and supplies amidst difficult situations.

• Pricol was recognized with “Best in Innovation and Technology” by Hero Motocorp, for the support and development of next gen 7” TFT with touch Driver Information System for its EV vehicle Vida.

• Pricol was recognized with “Technology Excellence Award 2022” by Quantic India for the Best Interactive Product in Automotive for Driver information Systems.

• Pricol started mass production of next – generation Thin-Film Transistor (TFT) Driver Information System (DIS) for various EV vehicles for customers including TVS, Hero MotoCorp, OKINAWA and more.

• Pricol developed In-house Test Robot for Touch screen displays with testing processes to be fast, efficient, reliable and accurate.

Management Comments:

Commenting on the performance of the Company, Mr. Vikram Mohan, Managing Director said

“Whilst the demand from the industry remains stable, the supply chain disruptions and chip shortages still continue to put a stress on our topline and bottom-line. With our focused efforts to meet the customer demand despite such external conditions, we managed to report highest ever quarterly revenue performing better than the market and clocking a sustained quarter on quarter bottom-line. With sharp increases in Forex and electronic components’ price continuing as a risk to erode the profitability, we are taking all possible measures to keep costs under control, hoping to perform better than the market and provide a consistent performance. With our new business wins and product launches exclusively for EV vehicles, we have generated a robust order book for upcoming years, and we are excited about the avenues of growth from new age EV companies.”

Financial Statements:

Results for the quarter ended September 30, 2022, prepared under Ind AS, along with segment results, are available in the Investor Relations section of our website https://www.pricol.com/.

Quarterly Conference Call:

The earnings conference call will be held on Thursday, November 10, 2022 at 2:00 PM (IST) to discuss the Financial Results and performance of the company for the quarter ended September 30, 2022.

The earnings conference call will be accessible from all networks and countries through universal access dial-ins:
+91 22 6280 1341 or +91 22 7115 8242 also accessible at:
https://services.choruscall.in/DiamondPassRegistration/register?confirmationNumber=9870182&linkSecurityString=2e43d4a158

Further, the analyst(s)/institutional investor(s) presentation will be submitted to Stock Exchanges and shall also be hosted on the company’s website at https://www.pricol.com/

Subscribe To Our Newsletter

COIMBATORE WEATHER