Coimbatore-based Pricol Ltd, a leading vehicle dashboard manufacturer, is actively pursuing inorganic growth and has shortlisted a few assets for potential acquisition.
Vikram Mohan, Managing Director of the company, had indicated that Pricol was exploring inorganic growth opportunities to diversify its product portfolio and expand into new geographies to enhance its global footprint.
“Regarding inorganic opportunities, we’ve identified a few assets that we’re currently evaluating and negotiating with the respective parties. As these discussions are still under NDA, we’re unable to share further details. However, we anticipate providing more concrete guidance by next quarter,” Siddharth Manoharan – Director of Strategy of Pricol said during the company’s Q1FY25 earnings call.
Pricol’s operations are divided into two verticals — Driver Information and Connected Vehicle Solutions (DICVS) and Actuation, Control, and Fluid Management Systems (ACFMS). DICVS accounts for 70 per cent of the revenue, with the remainder coming from ACFMS. In terms of revenue distribution, approximately 65 per cent comes from the two-wheeler segment, about 15 per cent from commercial vehicles, 10 per cent from passenger vehicles, and the rest from tractors and off-highway vehicles. PM Ganesh, CEO & Executive Director of Pricol, highlighted that the company has consistently outperformed the market quarter after quarter over the past three years, driven by growing opportunities for value addition in its products. He expressed confidence that this trend will continue, as Pricol is continuously gaining market share with new project launches each quarter.
Strong order book
He also noted the ongoing growth in the four-wheeler segment, particularly in the Indian market. Since re-entering the personal passenger vehicle segment in 2020, Pricol has seen steady growth and expects this momentum to continue. It is a major supplier to Tata Motors for personal passenger vehicles and is collaborating with several other Indian OEMs in this segment.
Ganesh emphasised that Pricol has a robust order book for the next two years with confirmed business from various customers and is making significant progress in new product development.
Discussing new products, Ganesh mentioned that the e-cockpit, targeting passenger and commercial vehicle segments, is undergoing rigorous testing at Pricol’s facilities. Prototype samples have been provided to customers for validation, and both testing and validation are progressing well. The disc brake is also in a similar stage, with intensive testing underway and vehicle-level testing by customers. Pricol anticipates moving into SOP for both products within the next 12 to 18 months.
The ₹2,285-crore Pricol partnered with China-based Heilongjiang Tianyouwei Electronics (TYW) Co, Ltd to develop advanced technologies in Driver Information System Solutions across various vehicle segments. This collaboration has resulted in the development of products such as the e-cockpit and Heads-up Displays.