The open market transaction took place at an average price of 208.9820 rupees per share, Minda corp said in an exchange filing. "This is merely a financial investment without providing the company any special rights in Pricol Ltd other than the rights as a shareholder," Minda said.
Despite such tough external conditions, the company managed to achieve a performance better than the market, and with new opportunities of growth areas identified combined with new business orders, it stays committed to deliver a consistent performance overall, he said.
The-Coimbatore headquartered driver information system major is looking to diversify into automotive sensors and electronics, and coolant pumps through joint ventures and technical alliances.
New Delhi, Oct 4 () Auto components maker Pricol today said it has signed an agreement with China-based Wenzhou Huirun Electrical Machinery for technical collaboration, supply and production of fuel pumps and its modules in India.
The acquisition would be undertaken by Pricol Limited through its wholly owned subsidiaries. The transaction will be funded by a combination of internal accruals and external debt.
Vikram Mohan, MD, Pricol said, "As per rules we had deducted eight days salary for 800 employees belonging to Kovai Mavatra Pricol Thozhilalar Otrumai Sangam - affiliated to AICCTU, for 'unauthorised mass absenteeism' on April 25 in support of farmers' issue
"Continuing our performance from the previous financial year, we have retained our standalone total revenue at INR 12,684.27 Million in FY 2016-17, despite market fluctuations. We are positive about the upcoming year (FY 2017-18) and looking forward to cross key milestones in line with our Vision 2020." said Vikram Mohan.
Pricol's new investments in Pune will cater to the growing electronic cluster business for two wheeler, commercial vehicle, off road and tractor segments.
Industries in Pantnagar area are estimated to have suffered a loss of over Rs 300 crore after the Centre banned denominations of Rs 500 and Rs 1,000. The production has also declined by 35% in many of the 452 industrial units in the industrial estate. The worst hit are automobile factories and those involving consumer goods.
The entire business and undertaking of Pricol Limited consisting all its assets and liabilities shall be and stand transferred to Pricol Pune Limited.
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA) margins for the quarter ended September 30, 2016 was 12 percent as against 6.6 percent in the same period last year.
| Name | DIN | Designation | Date of joining | |
|---|---|---|---|---|
| Vikram Mohan | 89968 | vikram@pricol.co.in | Managing Director | 01 Jun,2013 |
| Ramani Vidhya Shankar | 2498 | vidhyashankar@ramaniandshankar.com | Director | 01 Nov,2016 |
| Palanisamy Shanmugasundaram | 119411 | krrpss@gmail.com | Director | 15 Jun,2019 |
| Kasthurirangaian Ilango | 124115 | ilango@rsmautokast.com | Director | 15 Jun,2019 |
| Sriya Chari | 7383240 | sriyac@yahoo.com | Director | 01 Nov,2016 |
| Navin Paul | 424944 | navinpaul93@gmail.com | Director | 22 Oct,2020 |
| Vanitha Mohan | 2168 | vanithamohan@pricol.co.in | Wholetime Director | 01 Nov,2016 |
| Sangampalayam Kandasami Sundararaman | 2691 | ram@shivatex.in | Director | 30 May,2018 |
| Panchapagesa Muthuswamy Ganesh | 8571325 | ganeshpm@pricol.co.in | Wholetime Director | 08 Nov,2021 |
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