Buy Pricol, target price Rs 250: ICICI Direct

ICICI Direct has buy call on Pricol with a target price of Rs 250. The current market price of Pricol is Rs 195.3. Time period given by analyst is a year when Pricol price can reach defined target.


Pricol, incorporated in the year 2011, is a Small Cap company (having a market cap of Rs 2398.63 Crore) operating in Auto Ancillaries sector.


Pricol key Products/Revenue Segments include Oil Pump, Other Operating Revenue, Traded Goods, Export Incentives, Other Services for the year ending 31-Mar-2022.

Financials
For the quarter ended 31-12-2022, the company has reported a Consolidated Total Income of Rs 474.87 Crore, down -8.05 % from last quarter Total Income of Rs 516.46 Crore and up 16.31 % from last year same quarter Total Income of Rs 408.30 Crore. Company has reported net profit after tax of Rs 26.76 Crore in latest quarter.

The company’s top management includes Mrs.Vanitha Mohan, Mr.Vikram Mohan, Mr.P M Ganesh, Mr.R Vidhya Shankar, Mrs.Sriya Chari, Mr.S K Sundararaman, Mr.P Shanmugasundaram, Mr.K Ilango, Mr.Navin Paul. Company has V K S Aiyer & Co. as its auditors. As on 31-12-2022, the company has a total of 12 Crore shares outstanding.

Investment Rationale
The brokerage retains its BUY rating on Pricol amid a wider opportunity play with new TLA partnerships and management walking the talk over b/s repair and industry leading growth with ambitious Vision 2026 of ~ Rs 4,000 crore sales.

Promoter/FII Holdings
Promoters held 36.53 per cent stake in the company as of 31-Dec-2022, while FIIs owned 12.51 per cent, DIIs 4.35 per cent.