One of the Q2-FY23 business highlights for Pricol was being recognized with the 'Going the Extra Mile' award by TATA Motors for their proactive support to ramp up production and supplies amidst difficult situations.
Pricol Ltd., one of India's leading auto component manufacturers announced its results for the second quarter of the financial year 2022-23. Pricol Ltd. reported its highest-ever quarterly revenue of Rs. 501 crores and Q2-FY23 PAT of Rs. 37.78 crores (excluding exceptional items) with a 157.53 percent growth compared to Q2-FY22.
Q2-FY23 Business Highlights are:
• Pricol was recognized with 'Going the 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 the '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.
Commenting on the performance, Vikram Mohan, the Managing Director of Pricol Ltd. 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 the 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 Pricol's website https://www.pricol.com/
Quarterly Conference Call:
The earnings conference call was held on Thursday, November 10, 2022 to discuss the Financial Results and performance of the company for the quarter-ended September 30, 2022.
Further, the analyst(s)/institutional investor(s) presentation will be submitted to Stock Exchanges and will also be hosted on the company's website at https://www.pricol.com/
Q2-FY23 Business Highlights are:
• Pricol was recognized with 'Going the 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 the '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.
Commenting on the performance, Vikram Mohan, the Managing Director of Pricol Ltd. 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 the 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 Pricol's website https://www.pricol.com/
Quarterly Conference Call:
The earnings conference call was held on Thursday, November 10, 2022 to discuss the Financial Results and performance of the company for the quarter-ended September 30, 2022.
Further, the analyst(s)/institutional investor(s) presentation will be submitted to Stock Exchanges and will also be hosted on the company's website at https://www.pricol.com/