Coimbatore, India, June 07, 2015 — — Pricol Limited automotive components manufacturer based in Coimbatore India, released the annual report for the financial year 2014-15 on 26th May, 2015. The key events took place in the last financial year were the Brazilian Melling acquisition, exit with Denso joint venture and Acquisition of Johnsons controls 50% stake in Joint venture.
In spite of net loss reported for fourth quarter FY 2015, there is significant increase in annual income of FY 2014-15 in standalone as well as in consolidated statement. Standalone financial result reports 8.46% increase from the previous year. The consolidated statement shows 5.6% increase from the FY 2014. Operating income decreased by 11 crores which is 19.4 percent.
The revenue as per the standalone statement is INR 900.49 crores which is 70.25 crores increase from the previous year of INR 830.24 crores. Consolidated result reports the revenue of INR 1,094.15 crores which is 49 crores increase from the previous year of INR 1,036.05 crores. So the Pricol limited somehow managed to attain marginal growth from the previous year.
The Melling acquisition and Johnson control’s Joint venture stake acquisition will enable Pricol in the financial year 2015-16 to grow to a greater extent. As Pricol started performing better in oil pumps, four wheeler and commercial vehicle segment with the help of Melling, greater growth is expected in the coming years.
About Pricol Limited
Pricol Ltd is a flagship Tier 1 company, complete automobile accessories and automotive parts manufacturers and suppliers for Automotive OEMs. Pricol Ltd supplies auto components to leading brands of two wheelers, four wheelers, commercial vehicles, tractors, trucks, buses, and for vehicles in construction Industrial segment, etc. Pricol also manufactures sintered components, telematics products, tooling solutions and many more.