Pricol Limited (PRICOLLTD) Earnings Call Transcript
January 30, 2026
Earnings Call Speaker Segments
Ladies and gentlemen, good day, and welcome to the Q3 and 9 Months FY '26 Conference Call of Pricol Limited. [Operator Instructions] Please note that this conference is being recorded. I would now like to hand the conference over to Ms. Purvangi Jain from Valorem Advisors. Thank you, and over to you, ma'am.
Good evening, everyone, and a very warm welcome to you all. My name is Purvangi Jain from Valorem Advisors. We represent the Investor Relations of Pricol Limited. On behalf of the company, I would like to thank you all for participating in the company's earnings call for the third quarter and 9 months ended for the financial year 2026. Before we begin, let me mention a short cautionary statement. Some of the statements made in today's con call may be forward-looking in nature. Such forward-looking statements are subject to risks and uncertainties, which could cause actual results to differ from those anticipated. Such statements are based on management's beliefs as well as assumptions made by and information currently available to the management. Audiences are cautioned not to place any undue reliance on these forward-looking statements in making any investment decisions. The purpose of today's earnings call is purely to educate and bring awareness about the company's fundamental business and financial quarter under review. Let me now introduce you to the management participating with us in today's earnings call and hand it over to them for their opening remarks. We have with us Mr. Vikram Mohan, Managing Director; Mr. P. M. Ganesh, Chief Executive Officer and Executive Director; Mr. Siddharth Manoharan, Director of Strategy; and Mr. Priyadarsi Bastia, Chief Financial Officer. Without any delay, I request Mr. Vikram Mohan to start with his opening remarks. Thank you, and over to you, sir.
Thank you, Purvangi. This is Ganesh here. Just a little correction. Mr. Vikram Mohan is not attending this earnings call. So Ganesh, myself, Priyan and Siddharth are there in the call. Thank you, Purvangi. Good evening to all. Welcome to the Q3 earnings call. I'm sure that you had an opportunity to go through the uploaded presentation. So I will straight away go to the key financial highlights. First, I will start with the Q3 revenue from operations. We are very happy that we have crossed INR 1,000 crore milestone during Q3. The EBITDA stands at around INR 125 crores with a growth of 12.19%. The PAT is at 6.24% growth and the EPS is at INR 5.22 as against INR 3.4 during the corresponding Q3 last financial year. On a 9-month consolidated level, the revenue from operation is at close to INR 2,900 crores with an EBITDA of INR 350 crores and a margin of 12.11%. The PAT percentage is at 6.15% and the EPS is at INR 14.57. Coming to the growth on a Q3 on a consolidated level, our sales have grown by 65.67% EBITDA has grown by 59.44%. On a 9-month consolidated revenue from operation has grown by 54.42%. And for the 9-month period, the EBITDA growth has been at 42.24%. Now I would request Purvangi to open the forum for the Q&A session. Thank you so much.
[Operator Instructions] The first question comes from the line of [Akhilesh Rawat] with Ridhanta Vision Private Limited.
Hello? Am I audible?
Yes, sir.
Yes. First, I would like to congratulate you guys on a very good set of numbers.
Thank you very much.
Yes. So my first question is, as you guys mentioned that like in last quarter, there is an Nexperia crisis going on. So could you please update us on like the current status of the issue or -- and is the disruption largely behind us? Or are there still some residual challenges have been faced? And like how should we think about the medium- to long-term operational impacts from here?
Akhilesh, thank you for the question. As explained during last time, we get passive components from Nexperia, China. And we were able to develop alternates for these passive parts during Q2 of last year, that is the current financial year. And then we have derisked all the components of Nexperia as we talk, we do not see any risk going forward because we have developed order rates and customer also has approved.
Okay. I mean that's related to. Yes. So -- and my second question is, as we are seeing that there is an up cycle in commodity prices. So like do we -- are we seeing like any adverse impact on our margins due to the rise in the commodity prices?
Akhilesh, on the commodity, we are indexed back to back 100% with all the customers. I think you're referring to the steep increase in the silver prices, right, something like that.
Yes. Yes. Yes. Overall commodity prices.
Yes. Overall commodity, we are 100% backed up with customer compensation. There will be only a lag of 3 to 6 months. However, it is all recoverable from the customer.
All the very best for the upcoming quarter.
Thank you, Akhilesh.
The next question comes from the line of Vijay Pandey with Nuvama.
Congratulations for a good quarter. A couple of questions from my side. Firstly, I wanted to check on the new products which we are planning to come up with. So the handlebar, the disc brakes, what is the current status at...
Sorry, Vijay, your voice is a little garbled. Can you just come closer to the mic and speak Vijay? We are not able to hear you.
Is it okay now?
Yes, it's better. Go ahead.
Yes. So I wanted to check about the new product or projects which we are coming up, so the handlebar, the disc brake. I assume that disc brake we launched last year only. So if you can just give a highlight about how this thing is moving. And in case if you can give a revenue breakup of disc brake and Pricol Precision.
Vijay, I will give you some brief of the disc brake. We started with start-up EV companies during last year. Last year was more of pilot run of disc brake. And from Q1 of the coming financial year, we would be starting with one of the large 2-wheeler OEM in India. So the start of production will be there during Q1 or latest by beginning of Q2. So as we know that, as explained during the previous earnings call, sooner or later, there could be mandatory condition coming for ABS for all the 2-wheeler irrespective of the CC. So we are expecting good growth to happen in disc brake in the quarters to come. And we are fully ready in terms of our mass manufacturing. We see good growth in the coming future. On the P3L, I would request our Director of Strategy, Siddharth, to give you some briefing. Over to you.
Thank you, sir. Good evening, Mr. Vijay Pandey. In P3L, as we communicated to you in the last quarter, we have been able to win more businesses from various customers in the last 2 quarters specifically. And we are actively creating new capacities. At this point in time, we are stretched for capacities, which is kind of hampering our growth temporarily for which we have also opened out our investments to create new capacities and just in the process of commissioning a new plant as well. So all this will enhance the business value in P3L in the upcoming quarters. And subsequently, in the next financial, you will see a good growth happening in that particular division as well. Further to that, we are also investing in a center of excellence, so to work on new technologies and value-added products for P3L for which work has been commissioned and first level of facilities has been set up and teams have been onboarded, which will start giving more revenue and new products in the next financial year or so. Thank you.
Sir, what was our revenue from...
Vijay can you please come in the queue because we have got a lot of participants.
The next question comes from the line of Jyoti Singh with Arihant Capital Markets.
Just wanted to understand on the margin side, like how much the margin pressure is due to new program ramp-up costs and EV investment? And another question is on the CapEx outline side. How much CapEx we are guiding for FY '27, '28 and the split between capacity expansion and EV tooling and automation side?
Jyoti, in terms of the margins, you would have seen that we have been on a steady-state margin. You could have seen in the past quarters, and we expect the same type of margins to continue in the future quarters as well. Coming to the CapEx, I think we have outlined that the CapEx will be around INR 500 crores for the next 2 to 3 years.
Okay. And sir, on the bigger picture over the next 5 years, do you see Pricol evolving more as an auto electronic company than a traditional auto component supplier?
So I think we have explained this in detail like we are a technology company in terms of our driver information system and also on the actuation and control management system and the new company, whatever we have acquired on the polymers. We will continue to invest in our engineering, which is currently about 4.5% of our total revenue. So we position ourselves in the next 5 years also as a technology company.
Okay. And just earlier participant asked question on the disc brakes side -- yes, I'm audible to you?
No. Can you please come in the queue, Jyoti. There are a lot of -- thank you so much.
The next question comes from the line of [Sreeram] with ithought PMS.
Am I audible?
Yes, Sreeram. Go ahead.
Sir, with regards to plastic products, is there any plans to get into non-auto plastic products? And when it comes to new products, what kind of complexity level or present in the new products which you are planning?
So Mr. Sreeram, to answer your first part of the question, at this point in time, our focus is largely on the automotive sector. Having said that, we have also onboarded a couple of customers who are in the industrial segment as well, especially in the energy meters and so on and so forth. As and when the opportunity comes up, we are constantly evaluating such opportunities, onboarding key customers.
Sir, with regards to -- with the complexity level of the new products, sir, as you mentioned in the previous con calls that you're planning to get into new products, including the plastic comment. So if any throw some light on the new products which will be coming in?
Yes. So we are also moving up the value chain, as I mentioned in my previous response. So we are setting up a center of excellence to work on certain new products and new technologies where we eliminate painting and do in-mold painting itself and such other technologies are also being worked on. And it will take at least a year or so to mature and then bring it into the market. And we are also looking at certain value-added assemblies in addition to just pure-play molding and painting as well. So that will all yield a better revenue and margin as we go along.
The next question comes from the line of Khush Nahar with Electrum PMS.
Sir, my questions are more on the new products, I think this is the telematics, the battery management system e-cockpit and recently, the MoU that we had signed, one was with BOE Hong Kong and the other with Domino for the handlebar. So some color in terms of when can we see -- be like what stages are these products? And secondly, when can we see some revenues contributing for us?
Thank you for your question, Khush. First, I will answer your question on the telematics. For your information, telematics has been as a product portfolio in Pricol for the last more than a decade. In fact, for your information, we are the largest supplier of telematics for the off-road vehicle. And for JCB, who is the largest in India, we are a live link supplier to telematics. So what we are looking at is an integrated telematics with the instrument cluster. That is the driver information system. That is the next level of technology that currently we are working with. We have given samples to the customers for validation. So in the next 3 to 4 quarters, we'll find some light into that. But as telematics stand-alone, we are already a large player in India. Coming to battery management system, as we explained during the last earnings call also, we have matured the product to a good level. And then we have given the samples to various 2-wheeler customers. And we're also in a final stage of the design and development with a large 2-wheeler customer in India. Like the disc brake, which is going to start of production from latter part of Q1 of this next financial year, the battery management system also will find a start of production in the next maybe 4 or 5 quarters. Currently, it is under development, okay? What was your third question?
BOE.
Yes, the partnership of BOE. BOE is a China-based company, not a Taiwan-based company. Khush, the agreement is to do backward integration of our LCD and TFT in Pricol. So as you know that currently, our business on the display has been on the continuous increase. So it is important that we start localization activity in India. So we have signed an MoU, which is exclusive between Pricol and BOE, who is the world's largest display maker to do backward integration in terms of our LCD and TFT development. And Domino is one of pioneer in making switches and throttles to various premium 2-wheeler customers in the Europe region. So currently, we are making along with them, a joint study in terms of the design and development of the switches and throttle in the forthcoming quarters.
Sir, just one follow-up on that. You mentioned that so BOE given the expertise. So my question was more around have we formalized the agreement in terms of any JVs? And accordingly, are we planning CapEx to set up this backward integration?
Khush, it is actually not a JV. It is an MoU, and it is an exclusive MoU, which has been signed between BOE and Pricol. You would have seen the notification in the stock exchange. So this backward integration is going to be exclusively supported by BOE to Pricol. That is how this arrangement has been made.
Right. So when are we expecting the investments for the same, the CapEx?
Investments will start from the next like 3 to 4 quarters.
We'll start production in the next 3 to 4 quarters?
Yes. Production will start from the next maybe 4 to 5 quarters. The investment will start from the next 3 to 4 quarters.
[Operator Instructions] The next question comes from the line of Karan Gupta with ACMIIL.
Yes. Good set of numbers for the quarter. Am I audible, right?
Yes. Yes. Yes, Karan. Go ahead.
Yes. So for the CapEx side, I think in the last quarter, you said INR 250 crores to INR 300 crores for the next -- for this year also and FY '27 also. But your long-term target of around INR 8,000 crores top line by FY 2030, right, '31. What kind of run rate you see for the CapEx side? And how much it will be the mix of equity and debt? So as of now, we have close to INR 100 crores of cash, right? And we are generating good free cash flow also. So how it will be the mix of debt and equity?
Karan, it would be difficult for us to arrive at a CapEx number till FY '31. As we explained in the next 2 years -- 2 to 3 years, we are looking at a CapEx of about INR 500 crores for the group.
And it will all be made through, client to be made through internal accruals.
Okay. So this quarter, we have finance cost increased significantly as compared to same quarter last year. So what's the debt right now? And how much we have increased in quarter 3?
I will request our CFO, Priyan, to explain this, please.
Karan, the interest cost, finance cost, whatever increase you see, these are all working capital usage. So we don't have any long-term borrowing in our current significance.
No. I mean the debt fee have increased in quarter 3, I'm just asking?
No, we don't have any borrowing -- long-term borrowing in our balance sheet settlement and whatever finance cost you are seeing these are all working capital, as you say, that is because of the large growth in our sales, so working capital has gone up. That is the reason.
The next question is a follow-up question. It's from the line of Vijay Pandey with Nuvama.
Just want to know the revenue for Pricol Precision in the third quarter and what will be the EBITDA margin?
Yes, Vijay. P3L for the quarter 3, they have generated INR 233 crores of top line with 9.33% of EBITDA margin. Thank you.
And sir, how are you seeing the demand in the -- now has been the euphoria of the GST cut has now gone. How are you seeing the demand in the 2-wheeler space, 2-wheeler and commercial vehicle space?
Vijay, the demand seems to be quite robust. Yes, we had a lot of good tailwinds during Q3, but the demand continues to be good. You would have seen the SEDA, whereby the 2-wheeler stocks at various dealers are at quite a low level. So we are expecting the demand to continue to be robust on all segments of the market, not only in the 2-wheeler, but in the commercial vehicle and also the off-highway vehicle.
All the best for upcoming quarters.
Thank you, Vijay.
The next question comes from the line of Aman Agrawal with Carnelian Capital.
My first question was basically on the new subsidiary, which we have set up. Like can you talk about the purpose of this subsidiary, which we are setting up for which we have taken the Board approval?
Hope I'm audible. So your question is regarding the new subsidiary that is planned to be incorporated. As you know that we are constantly working on new partnerships and new technology partnerships as well. We have proactively gone ahead and incorporated the company. And as our CEO was mentioning earlier, we've also signed an MoU with BOE. Considering all these aspects, we wanted to have the flexibility and have a company in place. That's how we've gone with the incorporation at this point in time. But whenever the plan materializes, we'll talk about that in detail later.
Understood, sir. My second question was on employee cost. Like if I see employee cost for this quarter is around INR 125 crores. It's a good increase, like 20% kind of increase Y-o-Y and like even on a Q-on-Q basis, it has increased almost 9% or so. So like was there any one-off in this? Like why has the employee cost basically increased?
Vijay explained, we are looking at a lot of strategic partnerships and development as our Director of Strategy just explained about having an MoU, exclusive MoU signed with BOE. And also we explained about the recent partnership with the Domino for switches and throttle. So there is a need for us to have a little forward-looking employees to develop this. So that is the reason you found that the employee cost has gone up.
Understood, sir. Sir, my third and final question was basically on the exports part. So like in our ACFMS business, like exports was one area where we were initially focusing on. But like 2, 3 quarters back, we mentioned that exports is something which is seeing slowdown. And like for next 1, 1.5 years also, some growth is expected, not much in the export side basically, right? So is there any -- like can you share like what is the view currently on exports and like recovery in the ACFMS business for us, sir.
On the ACFMS division, our export growth has been quite steady. Even during this quarter, we have posted a good 15% growth when compared to the Q3 of the last financial year. Primarily, the new projects, whatever we spoke about on the ACFMS division have gone into mass production, primarily, which we explained last time, customers like Caterpillar, many of the U.S.-based customers and Europe-based customers have already gone into mass production. You'll find that there is a steady growth in the export business.
Got it, sir. Sir, if I can squeeze in one more question. Like if I see Pricol Precision, our margins at 9.3% like we had indicated about a guidance of around 10.5% as an aspirational margin for this business, right? So what impacted the margins in this quarter? And like when can we achieve that 10.5% kind of margins and Pricol Precision basically?
So Aman, so that indication of EBITDA was through after a couple of quarters. As you know, we have just acquired the business 1 year ago at much lower EBITDA. We have put together a lot of improvement plans and performance efficiency improvement plan, manpower enhancement plans, et cetera. So -- which is steadily increasing the EBITDA quarter-on-quarter, if you would have seen from our past performance. And with the steady performance and increase in revenue with better absorption of fixed cost, we expect the margins to hit the desired numbers or optimal numbers that we have indicated in the past.
[Operator Instructions] The next question is from the line of [Chaitanya Hardikar] with Purnartha PMS.
Actually, my question is already answered.
Thank you.
The next question comes from the line of Rahul Deshmukh with LKP Securities.
So my question is that I just wanted to know what factors are driving the growth in the polymer business? Is it because of increasing wallet share or we are acquiring new customers? And other one is that at what -- what is capacity utilization of that business? And any thought on expansion of the capacity -- existing capacity?
Yes. So Rahul, thank you so much for your question. To answer that -- so to answer your first question, the revenue increase is contributed primarily due to these factors. One is the share of business increase or wallet share increase with existing customers, plus we are also actively onboarding new customers with the relationship that Pricol commands in the market today, so which will see the revenue keep on increasing in the upcoming quarters. And second, to answer your second question, in terms of capacity utilization, we are above 90% as we speak. That's why we are infusing fresh capital to increase capacities and also create new facilities to keep up with the growing demands of the business.
We have a follow-up question. It's from the line of [Sreeram] with ithought PMS.
So what is the status of the e-cockpit product? And do we have any passenger vehicle customized currently?
As explained during the previous earnings call, Sreeram, it is currently under proof of concept at our engineering center. And we have also given some samples to our personal passenger vehicle customers. That may take another 3 to 4 quarters to mature as a product and then there upon start the mass production.
Next question comes from the line of Khush Nahar with Electrum PMS.
Sir, could you help us with the quarterly revenue and EBITDA number for Pricol Precision? And secondly, what would be the peak revenue that we can achieve from the disc brake capacity that we have right now? And are we planning to expand that more considering that Q1 FY '27, we onboard a -- we'll start production for a large OEM?
Khush, to answer your first question, for Pricol Precision for Q3, the revenue was INR 233 crores and the EBITDA was 9.33%. I request our Director of Strategy to answer the second question.
Yes. For disc brakes capacity, we have created a capacity of 0.5 million units at this point in time. And we see a good visibility to fill this capacity with the businesses in hand. And as and when the new businesses emerges, we'll be creating additional capacities. We would not be able to quantify as a peak capacity or peak value at this point in time because some of the business is also under conversion as we speak.
Just my last question, sir. So I think in the previous call, we have mentioned that we are expecting for the Pricol Limited to grow at around 11% to 15%. So are we -- so do we have the same guidance as on this quarter also? And does this include the new business of the telematics and the BMS, et cetera?
We have been steadily growing at 15% plus, if you recall, Khush, in all other quarters. And this quarter also, we have grown more than 15% as Pricol stand-alone. Coming to your next question on telematics, I think I already explained that telematics is not a new product for Pricol. We have been there in telematics business for more than a decade. We are looking more into the integrated telematics with the driver information system going forward. And in terms of -- I think BMS, I already explained that we have completed the development of the battery management system. And currently, we are in a testing phase with one of the 2-wheeler premium customer of ours. And maybe in the next 3 to 4 quarters, the testing would have been completed with the 2-wheeler customer and there upon, the mass production will start for BMS.
So in conclusion, we expect that 15% CAGR growth is something that we can work with for Pricol stand-alone business?
It's difficult. It depends upon the market conditions as well. Yes, Pricol has been outperforming the market in the last 8 to 12 quarters. If you see, we have grown more than the market. We expect the same momentum to continue primarily because of our various new product portfolio.
The next question comes from the line of Preet with InCred AMC.
I would just like to ask on the employee cost. There has been increase in employee cost across company due to new labor law. Has Pricol factored in this impact? And if yes, if you could quantify the same? And also, what kind of impact do you expect in coming quarters?
Preet, if I'll answer to this question. See, if you would have noticed the results, we have published a note as well that the new labor code has not been having a significant impact on employee cost at Pricol because we have taken care of that part in the past. We are in the process of evaluating further impact on some parts, which is specifically contract labor part, which we will be concluding before March. Thank you.
Okay. My second question would be line on the CapEx. You have mentioned that you are already at the 90% plus capacity utilization. And going forward, you are guiding of INR 250 crores to INR 300 crores of CapEx. What kind of additional revenue we can derive from this INR 250 crores, INR 300 crores of revenue?
Preet, the 90% capacity utilization was specific to the Pricol Precision, our polymer business. In our Pricol Limited in our DICVS and ACFMS vertical, we've already created enough capacity. As you know, in the past, we have undertaken a huge CapEx investments, the CapEx cycle, which has given us the capacity additions as we speak. So the -- overall, we'll be investing close to about INR 400 crores to INR 500 crores over the next 2 to 3 years on new products and bulk of it will be invested for our Polymer division to create new capacities.
Okay. Got it. What would be our capacity utilization in the Pricol stand-alone?
That would be a little difficult, Preet, because of the complexity and diversity of products, whatever we have. it would be difficult to put a steady number for the capacity, but we have created enough capacity in terms of flexible lines and then flexibility in terms of the backward integration, which will see us through for the next 2, 3 years.
The next question comes from the line of Mitul Shah with Pantomath Financial Services.
Sir, my question is on overall growth. Considering yesterday, one of the leading 2-wheeler OEM guided for 8%, 9% type of industry growth for 2-wheeler next year. And for initial first half or 9 months industry was nearly low single-digit growth. Still, we reported double-digit revenue growth. So based on that, don't you think it would be much more than 15% type of growth possible next year as we are adding customer also, we are adding products, it could be like upwards of close to 20%.
Mitul, as I explained that we have been outperforming the market quarter-on-quarter for the last 8 to 12 quarters, and we expect the same momentum to continue. If the industry is going to grow by 8% to 9%, we are sure that we will grow much more than that. I do not know whether it will grow by 20% or so. I do not know at this point of time, but there are opportunities because of our various new products that we will continue to outperform the market.
And sir, on the non-2-wheeler side, what is our outlook or what is our understanding for next 1, 1.5 years?
The demand, as I told you, has been robust. Ever since there has been a reduction in GST since Q3, there has been good amount of positive sentiments, particularly in the 2-wheeler segment. And you will find that Q3 has had a good growth among all the 2-wheeler customers. And we hope that same positive sentiments continuing in the Q4 and maybe for the next year as well. We are waiting and watching it very carefully. But as we see, the growth seems to be quite robust.
Even for non-2-wheeler side, where we are increasing our -- trying to increase our contribution?
Yes, across all segments of the market. That's what I explained. It is not only 2-wheelers, we fight all segments of the market in terms of robust growth.
The next question comes from the line of Zubin Pruseth with Karma Capital.
Sir, am I audible?
Yes.
Yes. Sir, I just want to know for the 9 months of total consolidated, what percentage of our revenue would be from the ACFMS business, sir?
Nearly 1/4 of our revenue -- total revenue comes from the ACFMS division on the consolidated sales.
Okay, sir. And sir, if you can just help us with the non-brake portion of the ACFMS, how are we seeing this? And just want to understand, is this majorly towards export?
Yes. The export content in the total ACFMS product is quite significant. And it will continue to be significant as we are going along, primarily export happening to both the U.S. and also to the European regions. In terms of the non-disc brake, yes, disc brake is going to be a new product addition. Apart from that, we make a number of ACFMS products starting from oil and water pumps for -- across the segments, 2-wheeler, personal passenger vehicle, commercial vehicle, we supply to all of them. And also, we supply the fuel pump module to a number of 2-wheeler customers. And we -- in fact, we are a major supplier to the commercial vehicle division for the cab tilting mechanism. So we have got across the segments, multiple products in the ACFMS division.
Okay, sir. And sir, my second question would be within the -- our primary segment in terms of instrument clusters. So are we -- if you can just help us with respect to how much proportion would CV and PV be? And are we going to see this particular segment increase much further and the 2-wheeler going down as we move or focus more on these kind of clients?
No. We are a company which is spread across all segments of the market. That is the strength of Pricol. We are across all segments of the market, starting from 2- to 3-wheeler, personal passenger vehicle, 4-wheeler and also commercial vehicle and also of the off-highway vehicle. If you ask me focus, we are focused across all segments of the market. And we expect the same focus to be there and across all segments of the market.
The next question comes from the line of Vijay Pandey with Nuvama.
Sir, what is our breakup between domestic and exports? And how much of the export comes from the ACFMS business? Just wanted to confirm.
Overall, our export revenue is about 10% on the total revenue. ACFMS would be a very significant portion, Vijay, in terms of the export revenue. Overall, on a consolidated level, 10% of our revenue comes from export.
And sir, are we seeing a similar level of growth between driver information system and ACFMS system because the export somewhat has been not like the export there because of the tariff and other restrictions. Just want to understand how are we seeing both division growth?
Vijay, actually the tariff -- yes, Vijay, the tariff actually has not affected us because we make specialized ACFMS products to various customers. So actually, the tariff has not affected us. In terms of growth, both ACFMS and driver information system are growing in the same pace what we're talking about total as a company growth. Both divisions are growing for us.
Okay. Both at similar level at around 15% to 20% stand-alone.
Whatever you see as a total growth, actually, both the divisions are almost like equally growing.
The next question comes from the line of Khush Nahar with Electrum PMS.
Sir, any update on the inorganic acquisition that we were planning in the precision -- Pricol Precision segment?
Khush, we constantly keep evaluating opportunities as we used to do. And if something materializes, then we will inform you on.
Well, nothing on the advanced stage as of yet.
No. As I mentioned, we consistently keep evaluating new opportunities, nothing in the advanced stage at this point in time.
Thank you. Ladies and gentlemen, that was the last question for today. I now hand the conference over to the management for closing comments.
Good evening, again. Thank you all for the questions and asking pleasantly all these questions, and we could answer. Looking forward to hear from all of you again in the next investor call. Thank you so much.
Thank you. On behalf of Pricol Limited, that concludes this conference. Thank you for joining us, and you may now disconnect your lines. Thank you.
Read the full transcript via the API
You're viewing the first half of this call. Get the complete Pricol Limited transcript - plus 251,000+ transcripts from 12,000+ companies, speaker segments and full-text search - through the EarningsAPI REST API or hosted MCP server.
Get an API key View API docs →For developers and AI pipelines
Programmatic access to Pricol Limited earnings transcripts and 251,000+ others is available through the
EarningsAPI REST API and the hosted MCP server.
Quarterly plans from $105 - full transcripts, speaker segments, full-text search,
and the /api/v1/transcripts/recent polling endpoint for ETL pipelines.