Pricol reports Revenue from Operations at 1336.15-Cr for its Standalone Operations for FY21 with a growth of 17.3% over FY 20.
Coimbatore, May 26, 2021: The Board of Directors at Pricol Limited (BSE: 540293; NSE: PRICOLLTD), one of India’s leading automotive component and precision engineered product manufacturers, today approved the audited financial results for the quarter and year ended on March 31, 2021.
Performance Highlights for Standalone Operations:
INR in Cr.
Particulars | Q4 – FY20 | Q4 - FY21 | YTD March 2020 | YTD March 2021 |
Revenue from Operations | 263.39 | 420.94 | 1139.05 | 1336.15 |
Operational EBITDA | 38.41 | 57.42 | 97.78 | 178.00 |
Profit Before Tax (PBT) | (122.48) | 26.76 | (216.72) | 46.52 |
Profit After Tax (PAT) | (120.76) | 2.91 | (212.88) | 14.60 |
FY 2020 - 2021
Total Income stood at INR 1397.81-cr in FY21 as against INR 1212.96-cr in FY20.
Revenue from operations for the year ended March 31, 2021 stood at INR 1336.15-cr as compared to INR 1139.05-cr in FY20.
The Company’s Earnings before Interest, Tax, Depreciation and Amortization (Operational EBITDA) stands at INR 178.00-cr in FY21, as against INR 97.78-cr in FY20.
Profit Before Tax (PBT) stood at INR 46.52-cr for FY21 as compared to a loss of INR 216.72-cr in FY20. Including exceptional item of INR 190.72-cr.
Profit After Tax (PAT) stands at INR 14.60-cr in FY21 as against a loss of INR 212.88-cr in FY20.
Q4 (2020 – 2021)
Total Income stood at INR 438.19-cr in the quarter ended March 31, 2021 as against INR 286.88-cr in the corresponding quarter in FY20.
Revenue from operations for the fourth quarter of FY21 stood at INR 420.94-cr as compared to INR 263.39-cr in the fourth quarter of FY20.
The Company’s Earnings before Interest, Tax, Depreciation and Amortization (Operational EBITDA) stands at INR 57.42-cr for the January – March 2021 quarter, as against INR 38.41-cr in January – March 2020
Profit Before Tax (PBT) stood at INR 26.76-cr for the fourth quarter of FY21 as compared to a loss of INR 122.48-cr in the fourth quarter of FY20. Including exceptional item of INR 127.03-cr.
Profit After Tax (PAT) stands at INR 2.91-cr in Q4 (2020 – 2021) as against INR (120.76-cr) in Q4 (2019 – 2020).
From the desk of the Managing Director:
Commenting on the company’s performance, Mr. Vikram Mohan, Managing Director, Pricol Limited said, “Our results are in line with our expectations and an outcome of our sustained efforts to reduce costs, increase productivity and enhanced market share for our products. Our growth for FY 21 has been higher than the growth of the corresponding segments of the market which has been mainly driven by introduction of new products as well as increased share of business from our customers on account of sustained performance and tight cost control. The impact of the first wave of Covid-19 and the subsequent lockdown had a major impact on the company’s performance in Q1 FY 21. Whilst we were able to bounce back very strongly; steep increase in commodity prices had an impact on the EBITDA of the company in Q4 FY 21. As our company is highly dependent on import of electronic child parts; the global shortage of ICs resulted in higher raw material prices and loss of production due to non-availability of select ICs in Q4 FY 21. Nevertheless, we remain bullish about the long term prospects for the company since we have heavily invested in technology and in capacity building in the prior years compounded by the efforts on increasing efficiency and productivity, as well as thrust on exports has helped the company launch new products and increase its market share and this will have a favorable long term impact once the pandemic is brought under control.”
About Pricol Limited
Pricol Limited is one of India’s leading automotive components and precision engineered products manufacturers head quartered in Coimbatore. Pricol commenced its operations in the year 1975 in Coimbatore, South India and today it strides as a reputable global brand in the automotive component and products business, highly recognized by top automotive OEMs across the world. The company carries out its business and operations in Driver Information Systems and Sensors, Pumps and Allied Products, Telematics and Wiping Systems catering to leading automotive OEMs in Two / Three Wheeler, Passenger Vehicles, Commercial Vehicles, Farm Equipment and Off-Road Vehicles across India and in International Markets (45+countries) with 2000+ product variants.
Today the company has 7 manufacturing plants across Coimbatore, NCR, Pantnagar, Pune & Sricity, 1 subsidiary manufacturing plant in Satara, India and 1 manufacturing unit in Indonesia with 2 international offices in Tokyo and in Singapore. Pricol Group is powered by 5000+ strong, dedicated workforce which resolutely pursues the mission to be PASSIONATE, SUSTAINABLE, DYNAMIC and EVOLVING. The logo addresses the synergistic relationship between the four stakeholders (Customers, Employees, Shareholders and Suppliers) working in a convergent manner in order to create value for each other. As, Indian markets are on the flow to march towards Electric Vehicles manufacturing, Pricol has already switched its gear to be EV ready across its product verticals.
For further information contact:
T.G.Thamizhanban Pricol Limited E: investor@pricol.com | Haripriya M. / Vijay Shekhar Concept Public Relations M: +91 97907 50667 / +91 97890 52198 |
DISCLAIMER:
Certain statements that are made in the Press Release may be forward-looking statements. Such forward-looking statements are subject to certain risks and uncertainties like significant changes in economic environment in India and overseas, tax laws, inflation, litigation, etc. Actual results might differ substantially from those expressed or implied. Pricol Ltd. will not be in any way responsible for any action taken based on such statements and discussions; and undertakes no obligation to publicly update these forward-looking statements to reflect subsequent events or circumstances.
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