Pricol Q4FY23 concall updates
- Rev: 509.7Cr up 26.26% YoY
- EBITDA: 62.3Cr |M| 12.23%
SEGMENT MIX β 55% from driver information system (instrument cluster), ~30% from actuation & fluid control system, ~15% sensors and others
- Rev: 509.7Cr up 26.26% YoY
- EBITDA: 62.3Cr |M| 12.23%
SEGMENT MIX β 55% from driver information system (instrument cluster), ~30% from actuation & fluid control system, ~15% sensors and others
PRODUCT MIX β 65% -2W, 3W, 15% from CV, 10% from PV, 10% from offroad & tractors
CONCALL NOTES
βHighest ever quarterly earnings.
β Production capacity enhancement in Tool room, Plastic Component Manufacturing Shop and SMT for PCB assembly line, adding new machines from Japan
CONCALL NOTES
βHighest ever quarterly earnings.
β Production capacity enhancement in Tool room, Plastic Component Manufacturing Shop and SMT for PCB assembly line, adding new machines from Japan
β Company has the target to reach 4000cr revenue by FY26. The company has an order pipeline for the next 3 years. EBITDA margins target of 15%.
β CAPEX of 600 crores over the next 8 quarters. 400Cr will be used for organic and 200 for inorganic. May take 200cr short term debt.
β CAPEX of 600 crores over the next 8 quarters. 400Cr will be used for organic and 200 for inorganic. May take 200cr short term debt.
β We are focusing on three vehicle segments: 2W being a large part, commercial vehicles for off road vehicles. Have reentered passenger vehicle 4W segment and today have a 70% market share in Tata Motors for the driver information system
β Company is taking all legal measures to oppose the application of Minda at CCI as they havenβt obtained the intention at their first investment. Management will take all steps legally and financially to maintain the Pricol with the current management.
β In Inorganic standpoint in order to remove the dependence on auto which is cyclical want to enter into instrumentation in the industrial segments where the margins are better and it is de-risking our business model
β Many of our products being given the LOI confirmed commitment from the customers, to start a production anywhere between 18 to 24 months.
β Looking at product premiumization i.e, even if vehicle production remains flat the value per product is going up
β Looking at product premiumization i.e, even if vehicle production remains flat the value per product is going up
β Company has 100% market share in TVS 2 wheeler
β For the target numbers company assume 0% volume growth from Indiaβs 2W segment as company expect muted growth in India for next 3 years.
β currently company is working with 22 EV vehicle makers in the country small and big
β For the target numbers company assume 0% volume growth from Indiaβs 2W segment as company expect muted growth in India for next 3 years.
β currently company is working with 22 EV vehicle makers in the country small and big
β Many of the platforms the company is single vendors so whatever is the growth of that platform company will also be growing at that level
β With Minda, the driver Information system is the common product of course they are significantly smaller than us.
β With Minda, the driver Information system is the common product of course they are significantly smaller than us.
β Have about 50%+ of the 2W market in India of driver information system. we are world's 2nd largest driver information system manufacturer for 2W.
β To unlock value for shareholders, if there is a need to align with some other company to get technology from MNC players, then Pricol may demerge into 2 different companies for DIS and other businesses. It is under discussion, no any work has been done on it yet.
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