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Pritika Group targets Rs 9.5 billion in 3 years with Rs 6.5 billion order book
Industry News- Sep 10,24
The company also reported a consolidated EBITDA of Rs 541 million, reflecting its operational efficiency.
Pritika Group, a leading manufacturer of engineering and automotive components, is aiming for Rs 9.5 billion in sales over the next three years, driven by a robust order book of Rs 6.5 billion. The company plans to capitalise on growing demand in the industry, with a focus on expanding capacity and diversifying its business.
Harpreet S. Nibber, Managing Director, Pritika Engineering Components Ltd (PECL), highlighted the company's target to achieve Rs 9 billion to Rs 9.5 billion in sales, with a profit after tax (PAT) margin of 7-10% within the next three years.
In FY 2023-24, Pritika Auto Industries Ltd posted a consolidated total income of Rs 3.43 billion, a 15.74% year-on-year growth. The company also reported a consolidated EBITDA of Rs 541 million, reflecting its operational efficiency. PECL, a key subsidiary, recorded a consolidated income of Rs 875.6 million, with an 11.95% increase in EBITDA.
To meet rising demand, PECL is planning a capital expenditure of Rs 495 million, funded through a fundraise, and has increased its authorised share capital from Rs 200 million to Rs 250 million. The company is also exploring opportunities in the railway and defense sectors.
Pritika Auto Industries is projected to achieve consolidated sales of Rs 4.25 billion to Rs 4.5 billion, with a PAT margin of 6-8% in the current fiscal year. PECL is expected to achieve sales of Rs 1.1 billion to Rs 1.25 billion, with a similar PAT margin.
(business standard)
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