- 24 May 2022
- ICICIdirect Research
PRICOL REPORTS HEALTHY PERFORMANCE IN Q4FY22
PRICOLLTD - 513 Change: 3.85 (0.76 %)News: Total operating income for the quarter came in at Rs. 404 crore, up 2% QoQ. EBITDA in Q4FY22 came in at Rs. 51 crore with corresponding EBITDA margins at 12.3%, up 70 bps QoQ. Ensuing PAT for the quarter was at Rs. 17 crore, largely flat QoQ. For full year, FY22, topline came in at Rs. 1,545 crore, up 9.3% YoY, EBITDA was at Rs. 181 crore (EBITDA margins at 11.7%, down 90 bps YoY) and PAT was at Rs. 55 crore, up 33% YoY
Views: Full year performance of the company is just a tad below our expectations on the P/L front (topline: Rs.1,576 crore PAT: Rs. 58 crore). However the real positive surprise came in terms of more than anticipated cash flow generation and consequent retirement of debt on company’s books. At Pricol, CFO for FY22 was at Rs. 183 crore vs. Rs. 128 crore in FY21 with large part of it used for repayment of debt amounting to Rs. 122 crore (FY22 gross debt now at Rs.126 crore & debt: equity at 0.2x). With its penchant to grow ahead of industry and prominent presence with Tata Motors, we hold a positive view on the company
Impact: Positive