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Pricol Limited, a leading manufacturer of automotive components for the global automotive market, has announced a bottom line growth of 41.1% in its fourth quarter and annual results for FY 2016-17. The growth is attributed to its constant efforts towards productivity improvement and cost saving.
Standalone revenues for 2016-17 stood at Rs 12,684 million and earnings before interest, taxes depreciation and amortization (EBITDA) stood at Rs 1,362.58 million.
“Our constant efforts towards productivity improvement and cost saving has resulted in a substantial increase in standalone bottom line of 41.1% y-o-y to Rs 624.38 million. During FY 201617, we successfully completed the amalgamation with Pricol Pune Limited. We also inaugurated the state-of-theart green field manufacturing facility in Pune, and commenced production from February 2017, which will yield additional revenue of Rs 1,000 million in the next 2 years,” Vikram Mohan, Managing Director, Pricol Limited, said.
“Continuing our performance from the previous financial year, we have retained our standalone total revenue at Rs 12,684.27 million in FY 2016-17, despite market fluctuations. We are positive about 2017-18, and are looking forward to cross key milestones in line with our Vision 2020,” he said.