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Dossier · PRICOL LIMITED · 29 October 2026Page 1 of 3
Company Dossier
MarketPing Research · factual · no rating expressed
PRICOL LIMITED NSE: PRICOLLTD · BSE: 540293
Consumer Discretionary › Automobile and Auto Components › Auto Components › Auto Components & Equipments
PRICOL LIMITED
StateQ1 FY27 filed
Last close · 28 Oct 2026₹645.70
Market cap₹7.9k cr
TTM P/E · P/B · EV/EBITDA29.4 · 6.27 · 16.0
Manufactures automotive components and sub-systems for two-wheeler, passenger car and commercial vehicle OEMs in India. The largest segment is Driver Information and Connected Vehicle Solutions (DICVS), which made up about 61% of FY26 consolidated turnover at ₹2,424.63 cr, and which supplies instrument clusters, driver information displays and connected vehicle solutions to OEMs such as TATA Motors (whose 75-80% of cars are equipped with Pricol clusters). Other businesses include the P3L subsidiary (FY26 revenue of ₹924 cr, 9.24% EBITDA margin, on track to double turnover in 3 years), the Actuation, Control and Fluid Management Systems (AC-FMS) line that grew ~30% in FY26, and a Precision Products business. Q1 FY27 consolidated revenue was ₹1,083.58 cr (+23.46% YoY), with two-wheeler revenue up 28% against industry growth of ~23%. The polymer division, which has a current turnover capacity of ₹1,000 cr that is being scaled to ₹2,000 cr post-capex, posted ₹249 cr of Q1 FY27 revenue at 7.8% EBITDA and is the most exposed to raw-material cost spikes. A scheme of demerger has been approved to spin off DICVS into a separately listed entity called Pricol Autotech Limited, with shareholders receiving one Pricol Autotech share for every one Pricol share held; Pricol would retain ACFMS and Precision Products. A ₹700 cr capex programme over 18-24 months is split as ₹400 cr into polymer, ₹150-180 cr into DICVS and ~₹120 cr into AC-FMS. The biggest cost driver is raw materials at 68.2% of revenue, with polymers, aluminium and semiconductors each seeing sharp cost inflation in Q4 FY26. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Driver Information and Connected Vehicle Solutions (DICVS) (61%), P3L subsidiary, Actuation, Control and Fluid Management Systems (AC-FMS), Precision Products, Polymer division. Cyclical, asset-heavy Indian auto components supplier exposed to OEM order cycles and input cost shocks.
What a broker report prints here — the analyst's thesis. This dossier prints the filed record instead; the narrative read of the latest results, the guidance ledger and the earnings-call summary are the composer's sections (INSTITUTIONAL-PLAN.md M3) and are not yet produced.
Exhibit 1: Financial summary, FY22–FY26 (all audited; no estimate years)
₹ crore · consolidated
FY22
FY23
FY24
FY25
FY26
Revenue
1,545
1,959
2,272
2,692
4,041
EBITDA (ex other income)
181
238
273
313
469
margin %
11.7
12.2
12.0
11.6
11.6
Owners' profit
0
0
0
0
0
EPS, as reported (₹)
4.52
10.23
11.54
13.70
20.57
ROE % · ROCE %
9.5 · 14.1
17.7 · 20.4
16.6 · 22.4
16.4 · 20.1
20.0 · 25.7
Debt / equity (x)
0.22
0.13
0.06
0.12
0.29
Cash from operations
183
166
255
309
281
Capex
(48)
(85)
(143)
(216)
(323)
Source: SEBI results XBRL as filed with BSE/NSE; EBITDA excludes other income.
Every figure is a filed number or a ratio over filed numbers · No rating, target or fair value is expressed · Disclosures on the last pagemarketping.in
Dossier · PRICOL LIMITED · 29 October 2026Page 2 of 3
Exhibit 2: Quarterly performance, last 8 quarters
₹ crore
Q2 FY25
Q3 FY25
Q4 FY25
Q1 FY26
Q2 FY26
Q3 FY26
Q4 FY26
Q1 FY27
Revenue
669
634
769
895
1,007
1,039
1,099
1,105
Profit before tax
60
54
53
66
85
85
96
87
Net profit
45
41
35
50
64
64
73
67
EPS (₹)
3.70
3.40
2.87
4.09
5.25
5.22
6.00
5.50
Source: quarterly results as filed; the balance sheet is filed half-yearly and is not repeated here.
Exhibit 3: Peers — basic industry group, by market cap
Company
M.cap ₹ cr
P/E
P/B
EV/EBITDA
ROE %
ROCE %
Rev CAGR 5y %
EBITDA m. %
SAMVRDHNA MTHRSN INTL LTD
1,69,176
38.6
3.87
15.1
9.4
8.2
17.1
9.0
BOSCH LIMITED
1,39,756
59.1
9.41
34.3
18.7
24.1
15.6
17.9
BHARAT FORGE LTD
83,937
118.9
8.78
30.3
11.4
13.2
21.6
8.8
UNO MINDA LIMITED
63,520
52.8
8.75
29.1
17.7
15.7
25.3
10.4
SCHAEFFLER INDIA LIMITED
56,735
45.3
9.23
—
10.4
14.1
—
19.4
SONA BLW PRECISION FRGS L
54,705
78.5
8.92
47.5
10.3
12.9
—
25.1
TUBE INVEST OF INDIA LTD
41,237
67.9
2.90
15.9
7.9
12.4
30.3
10.6
ENDURANCE TECHNO. LTD.
32,484
33.5
4.75
15.9
13.9
15.6
17.4
13.2
Source: exchange data and filed statements via the screener; multiples at current prices.
Exhibit 4: Where the company sits in its group
Metric
Company
Group median
Rank
Better than
P/E (TTM)
29.4
25.3
65 of 119
46%
P/B
6.3
3.2
93 of 117
21%
ROCE
23.6
12.6
19 of 125
86%
ROE
20.0
11.7
21 of 117
83%
Debt / Equity
0.3
0.3
63 of 117
47%
EBITDA margin
11.5
12.2
67 of 118
44%
Revenue growth
23.5
20.2
46 of 113
60%
Profit growth
34.3
24.4
48 of 115
59%
Market cap
7871
1460
31 of 126
76%
Source: MarketPing peer ranks; a rank is a measurement, not a view.
Every figure is a filed number or a ratio over filed numbers · No rating, target or fair value is expressed · Disclosures on the last pagemarketping.in
Dossier · PRICOL LIMITED · 29 October 2026Page 3 of 3
Exhibit 5: Filings of the last 90 days, with the measured price reaction
Date · filing
Category
Importance
Next day %
5-day %
27 Oct 2026 · Pricol publishes notice for lost share certificates
compliance
minimal
—
—
27 Oct 2026 · Pricol publishes notice for duplicate share certificates after reported losses
compliance
minimal
—
—
22 Oct 2026 · Pricol schedules investor call for Q2 and H1 FY27 results
board shareholder meetings
low
—
—
22 Oct 2026 · Newspaper notice on special window for physical share transfer
compliance
minimal
—
—
21 Oct 2026 · Board meeting on 4 Nov 2026 to consider Q2 FY27 results
results
low
—
—
20 Oct 2026 · Pricol Share Capital Audit Reconciliation Q2 FY26 - No Discrepancies
compliance
minimal
—
—
5 Oct 2026 · Quarterly dematerialisation compliance certificate under SEBI Regulation 74(5)
compliance
minimal
—
—
2 Oct 2026 · Pricol: CRISIL retains AA- rating on Developing Watch for INR 145 Cr facility
18 Sept 2026 · Pricol: Newspaper notice on lost share certificates
compliance
minimal
—
—
Source: exchange announcements; each reaction is measured from the close before the filing. Next day = the close one session after the reaction day (the first session that could trade the filing).
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This document is a statistical summary of publicly filed information and market data, prepared by software from primary sources: SEBI results XBRL filed with BSE and NSE, LODR disclosures, shareholding patterns, exchange price data. It contains no research recommendation, no price target and no opinion on the merits of any security, and is not a research report within the meaning of the SEBI (Research Analysts) Regulations, 2014, Regulation 2(1)(w)(vii). Financial statements are as filed (consolidated where the company files consolidated results). Ratios are computed over filed lines. Where a figure is unavailable the table shows a dash rather than an estimate. The business brief is written by MarketPing's reader from the annual report and checked against it; no figure in a table was generated by a model. Nothing here constitutes investment advice, an offer or a solicitation; readers should consult a SEBI-registered adviser before acting. MarketPing is not a SEBI-registered intermediary.
Every figure is a filed number or a ratio over filed numbers · No rating, target or fair value is expressed · Disclosures on the last pagemarketping.in
