- Revenues grows by 7% y-o-y in Q2 FY 17-18 excluding sales revenue from Speed Limiting Device (SLD).
Pricol Limited (BSE: 540293 / NSE: PRICOLLTD), a leading manufacturer of automotive components for the global automotive market, announced its second quarter and half-yearly results of FY 2017-18 today.
I. Business Performance
- Pricol Limited's standalone revenues experienced a growth from INR 293 Crore (excluding SLD revenues of INR 61 Crore) to INR 314 Crore (excluding SLD revenues) y-o-y in Q2 FY 17-18. The gap in total revenue is a result of drop in sales of Speed Limiting Devices as an effect of BS IV implementation.
- Excluding Speed Limiting Device revenues, revenues grew by 7% in Q2 FY 17-18 y-o-y and grew by 5% in H1 y-o-y of FY 17-18.
- Revenues have grown by 9.4% over the preceding quarter (Q1 FY 17-18).
- Profit before Tax stands at INR 9.8 Crore for Q2 FY 17-18, a 30% growth over the immediate preceding quarter (Q1 FY 17-18)
II. Management Statement
Mr. Vikram Mohan, Managing Director, Pricol Limited said "Pricol Limited has witnessed an average revenue growth of 7% against corresponding quarter last year excluding revenues from Speed Limiting Devices. The gap in total revenues is a result of drop in sales from Speed Limiting Devices as an effect to the discontinuation of the mandate which was enforced by the Government of India. We continue to see robust growth in all other product segments that will compensate to the drop in sales from SLD.
At Pricol, we are investing in future ready technology and have successfully executed key strategic partnerships to meet the BS VI and safety norms set by the Government of India to achieve our vision to become an INR 3000 crore company by 2020. In line with our vision, we will continue to drive sustainable growth to meet our future aspirations in the current challenging market conditions."
Shares of Pricol Ltd was last trading in BSE at Rs.100.3 as compared to the previous close of Rs. 99.4. The total number of shares traded during the day was 89188 in over 883 trades.
The stock hit an intraday high of Rs. 101.65 and intraday low of 97.7. The net turnover during the day was Rs. 8910317.