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Pricol Annual Report 2023 Summary

Updated: Oct 1, 2023

  • Pricol Limited is a leading Indian automotive components and precision engineered products manufacturer headquartered in Coimbatore. Established in 1975, it has grown into a global brand recognized by top automotive OEMs worldwide.

  • The Company operates in Driver Information Systems and Sensors, Pumps and Allied Products, Telematics, and Wiping Systems for various vehicle types across India and 45+ countries. It serves major automotive OEMs and has 2000+ product variants. The company has 8 manufacturing plants in India, 1 in Indonesia, and international offices in Japan, UAE, and Singapore.

  • Pricol Limited developed an in-house assembly line for next-gen TFT cluster displays with touch screen and Bluetooth connectivity, targeting two-wheeler customers like TVSM and HMCL.

  • Pricol has formed an exclusive partnership with BMS PowerSafe to manufacture Battery Management Systems (BMS) for electric vehicles. BMS PowerSafe brings its expertise in BMS design and software, while Pricol will handle in-house manufacturing.

  • The company showcased futuristic and electric vehicle (EV) products at the 16th Auto Expo 2023 in New Delhi, including Heads Up Display, E-cockpit, TFT Instrument Clusters, Electric Coolant Pump, and more.

  • Pricol presented an end-to-end Telematics Solution and Battery Management System (BMS) at the Auto Expo, in partnership with other companies.

  • Financial Highlights of FY 2022-23 on Consolidated basis

    1. Consolidated Revenue: INR 1,902.83 Crores (Y-o-Y) Growth: 27%

    2. Profit Before Tax: INR 136.87 Crores (Y-o-Y) Growth: 70%

    3. Free Cash Flow (FCF): INR 71.14 Crores

    4. Consolidated ROCE: 20.68%

  • Key Operational Highlights

    1. In-house aluminum profile cutting machine development.

    2. Development of an in-house Thin Film Transistor (TFT) Cluster assembly line.

    3. Implementation of a 4-axis robot for Electronic Driver Information Solutions assembly.

    4. Expansion of the Plastic Component Manufacturing Shop (PCMS).

    5. Establishment of a Variable Displacement Oil Pump assembly line.

    6. Introduction of an Electrical Discharge Machining (EDM) Sparking Machine in the Tool Room.

    7. Implementation of a Fully Automated Surface-Mount Technology (SMT) & Printed Circuit Board (PCB) assembly line.

    8. Expansion of the State of the Art - Tool Room.

    9. Further expansion of the Surface-Mount Technology (SMT) on Printed Circuit Board (PCB) assembly line.

    10. Introduction of an in-house Touch screen Robot-based Inspection system.

  • The operations of PT Sripri Wiring Systems in Indonesia have been closed during the financial year due to business reasons.

  • Pricol Asia Exim DMCC, a subsidiary of Pricol Asia Pte. Limited, Dubai, was incorporated in August 2022.

  • In the financial year 2022-23, the subsidiary recorded sales of USD 577 (approximately INR 0.46 Lakhs), whereas in the previous year, there were no sales. However, the subsidiary incurred a loss of USD 31,185 (approximately INR 24.61 Lakhs) during the financial year 2022-23, compared to no losses in the previous year.



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