- 10 Feb 2022
- ICICIdirect Research
PRICOL REPORTS RESILIENT PERFORMANCE IN Q3FY22
PRICOLLTD - 487 Change: 2.95 (0.61 %)News: Pricol reported a resilient performance in Q3FY22. Total operating income for the quarter came in at Rs.407 crore, flat QoQ. EBITDA in Q3FY22 came in at Rs.47 crore with corresponding EBITDA margins at 11.6%, down 40 bps QoQ. Ensuing PAT for the quarter was at Rs.17.3 crore, up 18.5% QoQ and was boosted by lower finance costs for the quarter.
Views:Flat topline performance is commendable against the backdrop of sequential lower double digit decline in the domestic 2-W segment which contributes ~65% of sales at the company. Margin decline for the quarter was also limited to 40 bps, primarily tracking higher other expenses (up 180 bps QoQ) with gross margins improving ~80 bps QoQ. With b/s deleveraging under way and the company’s intent to grow ahead of the industry, Pricol is well poised for a robust profitable growth journey ahead
Impact: Positive