Pricol Limited announced its financial results for the third quarter and nine months ended December 31, 2025. The company reported a significant milestone, with Q3 revenue from operations crossing the ₹1,000 crore mark. EBITDA for the quarter stood at approximately ₹125 crore, reflecting a growth of 12.19%. Profit After Tax (PAT) saw a growth of 6.24%, and Earnings Per Share (EPS) was reported at ₹5.22, an increase from ₹3.4 in the corresponding quarter of the previous financial year. On a nine-month consolidated basis, revenue from operations reached close to ₹2,900 crore, with EBITDA at ₹350 crore and a margin of 12.11%. The consolidated PAT for the nine-month period was 6.15%, and EPS stood at ₹14.57. The company highlighted the successful de-risking of components previously sourced from Nexperia, ensuring no future supply chain risks. Regarding commodity prices, Pricol confirmed that they are 100% indexed back-to-back with customers for compensation, with only a three to six-month lag for recovery. New product developments were also discussed. The disc brake, which saw pilot runs last year, is set to commence production with a large two-wheeler OEM from Q1 of the upcoming financial year, with mass manufacturing readiness. The company is also investing in expanding capacities for its P3L division, which is currently facing capacity constraints, and is commissioning a new plant. A center of excellence is being established to focus on new technologies and value-added products for P3L. For capital expenditure, Pricol plans to invest approximately ₹500 crore over the next two to three years, primarily funded through internal accruals. The company expects steady-state margins to continue in the future quarters. Pricol also noted that its employee costs have increased due to strategic partnerships and the need for forward-looking employees to develop new products. Exports in the ACFMS division showed a steady growth of 15% year-on-year in Q3, driven by new projects with US and Europe-based customers going into mass production. The company's overall export revenue constitutes about 10% of its total consolidated revenue, with a significant portion coming from the ACFMS business, primarily to the US and European regions. The company is also focusing on integrated telematics with the instrument cluster (driver information system), with samples provided to customers for validation, expecting commercialization in the next three to four quarters. Battery management systems (BMS) are in the final stage of design and development with a large two-wheeler customer, with production expected to start in the next four to five quarters. An exclusive MOU has been signed with BOE, the world's largest display maker, for backward integration of LCD and TFT development in India. Investments for this backward integration are expected to commence in the next three to four quarters, with production starting in four to five quarters. The company reiterated its focus on being a technology company, investing in engineering, and positioning itself for growth across all market segments, including two-wheelers, passenger vehicles, commercial vehicles, and off-highway vehicles. The demand across segments, especially in the two-wheeler space, is perceived as robust.
