Pricol, a renowned name in India’s automobile spare parts manufacturing and distribution sector, has unveiled its financial performance for the first quarter of the fiscal year 2024. The company’s consolidated financial results for Q1 FY2024 reveal a remarkable 55.09% growth compared to the same period in the previous fiscal year, showcasing its resilience and strategic prowess in a challenging market.
The standout highlight of Pricol’s Q1 FY2024 report is the substantial increase in profit after tax, which soared to INR 319 million. This impressive achievement speaks volumes about the company’s financial prowess and effective business strategies.
Diving into the specifics, Pricol’s revenue from operations for Q1 FY2024 witnessed a robust quarter-on-quarter growth of 20.31%, reaching INR 5,221 million. Earnings before interest, tax, and depreciation (EBITDA) registered a commendable 17.39% increase, amounting to INR 665 million. Notably, the margin before interest, tax, depreciation, and tax stood at an impressive 12.74%.
The company’s accolades further solidify its position as an industry leader. Pricol was honored with the “Best Supply Chain Management” award at Suzuki Motorcycle India’s annual supplier conference 2023. Additionally, the company was recognized as a key presenter at the conference, shedding light on its successful navigation of supply chain challenges in the automotive industry, particularly concerning semiconductor devices.
In a similar vein, Pricol was lauded with the esteemed “Best Company” award at the ‘Coimbatore Leadership Award 2023’ held by the World Manufacturing Congress. These accolades underscore the company’s commitment to excellence and innovation.
Pricol’s expansion endeavors have also played a pivotal role in its success story. Significant investments were made in various expansion projects, including the establishment of a tool room, plastic parts molding department, new driver information system assembly, surface mount technology lines, and robotic inspection systems.
Vikram Mohan, the Managing Director of Pricol, expressed his satisfaction with the exceptional performance, saying, “This quarter’s robust revenue growth, coupled with the prestigious awards we’ve received, is a testament to the vision, dedication, and collective efforts of our employees. Our accomplishments inspire confidence and enthusiasm within our team as we continue on our journey of growth and excellence.”
