Precision Camshafts Limited has informed the Exchange about Transcript
PRECAM · price
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Precision Camshafts reported a standalone Q4 revenue of INR147.5 crores (up 3% QoQ) but slipped into a net loss of INR34 crores due to exceptional items — a one-time customer compensation of INR35.6 crores offset by a INR73 crore impairment provision on its foreign subsidiary investment (mainly EMOSS). Consolidated revenue was INR200.7 crores with 18% EBITDA margin and 20% PAT margin. Subsidiary performance was mixed: MEMCO turned profitable (net profit INR0.21 crores), MFT Germany stabilized at INR25.26 crores, while EMOSS Netherlands remained near breakeven with operational EBITDA of just 6-7%. Management confirmed new camshaft orders extending to 2030 and beyond, with a greenfield assembled camshaft facility (~INR80 crore capex) expected to start production by Q3 of next financial year. The EV retrofitment business is in early stages with 15+ customers across 8 cities, and a heavy commercial vehicle electrification project is slated for road trials by end of calendar 2025.
The headline loss is purely accounting-driven and not reflective of operating performance — standalone EBITDA margin held steady at 18%. Shareholders should focus on the strong order pipeline through 2030 and the growth potential from assembled camshafts (20-25% EBITDA margins) and EV ventures, though EV offtake is slower than expected. The INR73 crore impairment is a provision (not write-off) and could be reversed if subsidiaries recover, providing a potential future tailwind.