Pricol Limited — Important, 02-12-2024: General Updates

The Board of Directors has approved several strategic initiatives. Pricol Precision Products Private Limited, a wholly owned subsidiary of Pricol Limited, will acquire the injection-moulded plastic component solutions division of Sundaram Auto Components Limited for a cash consideration of ₹215.3 Crores, with completion expected by January 31, 2025. This division generated revenue of ₹727.33 Crores in FY24. Additionally, the Board approved an investment of up to ₹120 Crores in Pricol Precision Products in multiple tranches.

A corporate guarantee was also authorized for loans to Pricol Precision Products, not exceeding ₹250 Crores. Furthermore, Pricol Limited plans to invest up to 26% in shares of PQSI Digital Private Limited, a company focused on Industry 4.0 products, for a total of ₹10 Crores over the next three years. This strategic move is aimed at enhancing Pricol’s digital transformation capabilities, boosting operational efficiency and market position. Overall, these developments suggest a positive outlook for future growth and operational expansion.