Consolidated Revenues cross INR 14,815.74 Million
Coimbatore (India), May 30, 2017: Pricol Limited (BSE: 540293 / NSE: PRICOLLTD), a leading manufacturer of automotive components for the global automotive market, announced its fourth quarter and annual results for FY 2016-17 today.
The bottomline growth of 41.1% is an outcome of constant efforts towards productivity improvement and cost saving. Standalone revenues for this year (FY 2016-17) stood at INR 12,684 Million and Earnings Before Interest Taxes Depreciation and Amortization (EBITDA) stood at INR 1,362.58 Million.
I. Management Statement
Speaking on the occasion, Mr. Vikram Mohan, Managing Director, Pricol Limited said, “Our constant efforts towards productivity improvement and cost saving has resulted in a substantial increase in standalone bottomline of 41.1% y-o-y to INR 624.38 Million. During FY 2016-17, we have successfully completed the amalgamation with Pricol Pune Limited. We have also inaugurated the state-of-the-art Greenfield Manufacturing facility in Pune, and commenced production in February 2017, which will yield an additional revenue of INR 1,000 million in the next 2 years.
Continuing our performance from the previous financial year, we have retained our standalone total revenue at INR 12,684.27 Million in FY 2016-17, despite market fluctuations. We are positive about the upcoming year (FY 2017-18) and looking forward to cross key milestones in line with our Vision 2020.”
II. Business Performance
For comparative purposes, the combined figures (Unaudited) of erstwhile Pricol Limited and erstwhile Pricol Pune Limited is given below:
o Despite market fluctuations, Total Revenue has been maintained at INR 12,684 Million.
o Profit from operations before Exceptional Items and Tax grew by 41.1 % y-o-y at INR 624.38 Million.
o Profit before tax grew by 48% y-o-y and stood at INR 629.72 Million
The Board of Directors have recommended a dividend of INR 1 per equity Share of INR 1 each held.+
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