Pricol is investing approximately 4.5% of sales in product and process technology every year. It will spend ₹600 crore in the next eight to 10 quarters, starting this quarter, in greenfield and brownfield projects, says Vikram Mohan, Managing Director of Pricol.
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Pricol has put in place multiple measures to fend off any possible hostile take over attempts, said Vikram Mohan, Managing Director of Pricol.
Mr. Mohan told The Hindu on Tuesday that the company has put in place measures, including legal and financial. “We will take strategic measures in the future, if needed,” he said.
Its competitor Minda Corporation recently acquired 15.7 % stake in Pricol in the open market. “We have created a war chest and kept it ready,” he said. The promoters of Pricol hold 37% stake and there are no immediate plans to increase the share.
The company’s focus remains on strengthening the balance sheet, technology, and market. “We are long term debt free and our balance sheet is already in the black.”
It is investing approximately 4.5% of sales in product and process technology every year. It will spend ₹600 crore in the next eight to 10 quarters, starting this quarter, in greenfield and brownfield projects.
These will be in the west, north, and southern States to cater to the existing orders and in strategic growth initiatives. This includes ₹250 crore under the Production Linked Incentive Scheme for automobile and auto components sector.
“We are pivoting to become a technology company in the automobile sector,” Mr. Mohan said. The aim is to remain among the globally top three companies in the two/three wheeler driver information system and sensors. However , the focus will continue to be on two-wheelers, commercial vehicles, and off road vehicles. The company is also exporting to the U.S., European countries and south east Asian markets.
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