Pricol, a prominent manufacturer of vehicle dashboards, announced intentions to invest between Rs 2-2.2 billion in capital expenditure for FY25 to extend its production capacities across different product lines.

During the Q4FY24 earnings call, Vikram Mohan, Managing Director of Pricol, mentioned that their capacity utilization was currently at nearly 85 per cent. He stated that due to this, they were in the process of enhancing capacity and carrying out capex at their new plants in Pune. Additionally, they were upgrading facilities in Coimbatore and Manesar.

Previously, the company had indicated a total capex of Rs 6 billion over three years (FY23-25) for organic growth.

The planned capex for FY25 will concentrate on expanding capacities in product verticals like digital instrument clusters and PCB manufacturing.

The improvement in Pricol?s market share in instrument clusters is expected to continue, fueled by strong order wins, particularly a significant order from Honda Motorcycle & Scooters India, the second-largest two-wheeler manufacturer in the country.

Despite being in the early stages of the electric vehicle (EV) business, Pricol foresees significant growth opportunities. They are collaborating with 18 EV OEMs for instrument clusters, aiming to increase their market share from 6.8 per cent to 10 per cent in the passenger vehicle segment.

Presently, with a setup capacity of Rs 1.2 billion per annum in the disc brake business, Pricol has secured orders from six companies. They are in the process of ramping up their disc brake capacity through two new units, one of which is under construction and the other just commencing. After completion, Pricol will have a capacity of Rs 3 billion per annum.