Pricol announced the proposed acquisition of Sundaram Auto Components (SACL)`s Injection Moulding business through Pricol Precision Products (a wholly owned subsidiary of Pricol). With this acquisition, Pricol will see a consolidated topline addition of approximately Rs 730 crore combined with SACL`s healthy financial parameters that are value accretive to Pricol. The debt-free acquisition is being made through an all cash deal for an amount of Rs 215.3 crore and is subject to adjustments, if any, as defined in the Agreement at the time of closing the deal.This acquisition underscores Pricol`s commitment towards advancing its growth in allied business verticals thereby cementing its leadership in the automotive sector. SACL, part of the TVS Motor Company, established in 1992, is a well-recognized player in the Automotive Component Industry. Renowned for its expertise in innovative polymer solutions and cutting-edge injection moulding capabilities, SACL`s six state-of-the-art manufacturing facilities across India embody operational excellence and sustainable practices. Over the years, the company has built a strong customer base, supported by robust talent and well-established manufacturing ecosystem. This acquisition presents Pricol with an opportunity to scale the injection moulding business into an independent business vertical and leverage SACL`s strength combined with Pricol`s capabilities, thereby paving a way for growth in this vertical. It also further fortifies the opportunities to expand the customer base and product offerings through effectively integrating the synergies of Pricol and SACL.Powered by Capital Market - Live News

The Board of Pricol at its meeting held on 02 December 2024 has approved the proposal for acquisition of injection moulded plastic component solutions division of Sundaram Auto Components, a wholly owned subsidiary of TVS Motor Company by Pricol Precision Products Private (wholly owned subsidiary of the Company) on a slump sale basis.The Board has approved investment in Pricol Precision Products upto an amount of Rs. 120 crore in one or more tranches. Further, the Board has approved to provide Corporate Guarantee for any loans to be obtained by Pricol Precision Products upto an amount not exceeding Rs. 250 crore. The Board has approved the proposal for investing upto 26% of equity capital of PQSI Digital, a company which is in the business of Industry 4.0 products, in more than one tranches. Powered by Capital Market - Live News

Pricol has received revision in credit rating from India Ratings & Research as under:Fund based and non-fund based working capital limits (Rs 80 crore) - IND A+; Stable/ IND A1+ (upgraded) Fund based/ and non-fund based working capital limits (Rs 25 crore) - IND A+; Stable/ IND A1+ (assigned) Long term loans (Rs 27.72 crore) - Rating Withdrawn Powered by Capital Market - Live News

Net profit of Pricol rose 35.96% to Rs 45.07 crore in the quarter ended September 2024 as against Rs 33.15 crore during the previous quarter ended September 2023. Sales rose 15.54% to Rs 650.08 crore in the quarter ended September 2024 as against Rs 562.66 crore during the previous quarter ended September 2023. ParticularsQuarter EndedSep. 2024Sep. 2023% Var. Sales650.08562.66 16 OPM %11.8811.81 - PBDT80.6865.35 23 PBT60.0044.20 36 NP45.0733.15 36 Powered by Capital Market - Live News

Pricol-New will hold a meeting of the Board of Directors of the Company on 6 November 2024.Powered by Capital Market - Live News