Net revenue

Pritika Auto net sales increase 34% YoY to Rs 226 crs due to higher sales volume

Commenting on the results, Raminder Singh Nibber, Chairman of Pritika Auto Industries Limited said, “The second wave of COVID-19 continues to impact the industry, business operations are well into the personal lives of people across the country. With partial shutdowns in several parts of the country, logistics and demand are still under pressure. However, I am happy to share that our company has held up well during these turbulent times and has proven resilient in the face of headwinds. Major OEMs across India continue to rely on us to deliver quality products on time, reaffirming their trust in us.

In Q4 FY21, we reported 128.93% year-on-year growth in revenue to Rs79.63cr. Our EBITDA and PAT also increased by 162.06% and 2,245.79% year-on-year to Rs9.00cr and Rs5.09:rare, respectively. This was mainly driven by robust demand from the tractor industry, based on a healthy agricultural sector. Intact, we reported our highest ever single month sales volume at 3,200 tons in January 2021, and this quarter’s sales volume is also our highest ever single quarter at 10,123 tons.

This, together with a strong order book, also gives us a dynamic outlook for the next quarter. We have also expanded our customer base with the addition of a new reputable OEM in India. Additionally, our efforts to improve internal efficiencies and our product portfolio are reflected in our improved achievements per ton this quarter and the full year.

Our technological capabilities, operational efficiency and strong customer relationships continue to be our pillars of strength, enabling us to navigate through various phases of the market. The Company is well positioned to capitalize on its strengths and grow sustainably. I would like to thank the entire ‘Pritika’ team for their tireless efforts and dedication, especially in these difficult times. I would also like to thank all of our valued stakeholders, whose support and trust in our business gives us the determination and ambition to set and achieve higher benchmarks.

At around 10:20 a.m., Pritika Auto Industries was trading at Rs20.25 each, up Rs0.1 or 0.5% on Sensex.