Consolidated Revenues cross INR 1,447.86 Crores
Coimbatore (India), May 27, 2016: Pricol Limited (BSE: 526109 / NSE: PRICOL), a leading manufacturer of automotive components for the global automotive market, announced its fourth quarter and annual results for FY 2015-16 today. The growth in Revenue was predominantly due to new order wins across business categories.
Standalone revenues for this year (FY 2015-16) grew by 18.6% Y-o-Y stood at INR 1,126.51 Crores as against INR 949.66 Crores in the same period last year. Earnings Before Interest Taxes Depreciation and Amortization (EBITDA) margins stood at 10.1% as against 2.7% (nearly 4 fold increase) in the same period last year. EBITDA for the Financial Year 2015-16 were at INR 113.65 Crores as against INR 25.29 Crores in FY 2014-15.
I. Business Performance
Revenue:
* Standalone:
- Income from operations for the Q4 FY 2015-16 increases by 11.3% over Q3 FY 2015-16.
- Annual Income from operations for FY 2015-16 increases by 18.6% over FY 2014-15.
* Consolidated:
- Income from operations for the FY 2015-16 increases by 26.64% to INR 1,447.86 Crores as against INR 1,143.32 Crores in FY 2014-15.
Dividend Declaration:
The Board of Directors have recommended a dividend of INR 1 per equity Share of INR 1 each held.
New business wins:
* Instrument Clusters for newly launched Two wheelers such as Royal Enfield Himalayan, Yamaha Fascino, Bajaj Avenger 220 cc Oil-cooled
* Instrument Clusters for Ashok Leyland new generation school buses, Mahindra Jeeto.
* Speed & Fuel Level Sensors for Hero Duet & Hero Maestro, TVS Apache 200 RTR, Honda Activa and VECV pro series
* Water Pump & Oil Pump for Four Wheeler - Renault Kwid, and Two Wheeler – TVS Apache 200 RTR Financial Results for the Quarter and Year ended March 31, 2016
Management Statement
Speaking on the occasion, Mr. Vikram Mohan, Managing Director, Pricol Limited said, “We have seen positive results in FY 2015-16 with the last quarter boosting these numbers, conforming to our expectations. This year has been significant for Pricol Limited as we unveiled our new brand identity, scripted our Vision 2020 and have seen very positive results. With an optimistic business environment, increasing confidence in the market, anticipated growth in investment in infrastructure and an encouraging monsoon forecast, we are confident to continue this growth momentum.”
