Automotive component and technology supplier Pricol has announced its financial results for FY2023. The company has recorded its best-ever quarterly performance in Q4 FY2023 with revenue of Rs 509 crore, up 26 percent, EBITDA of Rs 62.34 crore, up 14 percent and EBITDA margin of 12.23 percent. The net profit for the period came at Rs 29.8 crore, which was 126 percent higher compared to same period last year.
For FY2023, the revenue from operations came at Rs 1,902 crore, a growth of 26 percent, EBITDA of Rs 235 crore, up 23 percent (excluding exceptional items of Rs 9.75 crore) and EBITDA margin of 12.39 percent. The net profit came at Rs 114 crore, which was 124 percent higher YoY.
Vikram Mohan, MD, Pricol 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.”
Mohan says Pricol currently is at a transformational stage wherein its technological solutions are enabling it to position the company 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,” he concluded.
