Pritika Group Targets Rs 950 Crore Sales in 3 Years

New Delhi, Sep 9 (PTI) Engineering and automotive components maker Pritika Group is eying Rs 950 crore sales in next three years on the back of strong order book of Rs 650 crore.

This growth plan is driven by rising demand in the engineering and automotive components industry, a company statement said on Monday.

"We target to achieve sales of about Rs 900 crore to Rs 950 crore, with a PAT (profit after tax) margin of 7-10 per cent in the next three years," said Harpreet S Nibber, Managing Director, Pritika Engineering Components Ltd.

Building on a strong performance in financial year 2023-24 and a robust start in the April-June quarter of FY25, the company aims to capitalize on the rising demand in the engineering and automotive components industry, he added.

Pritika Group has demonstrated strong financial performance in the past fiscal year, FY2023-24, it said.

Pritika Auto Industries Ltd reported a consolidated total income of Rs 343.71 crore in the last fiscal, a year-on-year growth of 15.74 per cent. Consolidated earnings before interest, taxes, depreciation, and amortization (EBITDA) surged to Rs 54.10 crore, reflecting the company's operational efficiency and focus on profitability.

Pritika Engineering Components Ltd (PECL), another key subsidiary, also exhibited robust growth, with a consolidated total income of Rs 87.56 crore and a year-on-year increase in consolidated EBITDA of 11.95 per cent.

To cater to the growing demand, PECL is planning to expand its existing capacity and diversify its business.

It is exploring opportunities in the railways and defense components sectors, it stated.

A proposed capital expenditure of up to Rs 49.50 crore will be funded through a fundraise, and the company has increased its authorized share capital from Rs 20 crore to Rs 25 crore to support this growth.

Pritika Auto Industries Ltd is projected to achieve consolidated sales of around Rs 425 crore to Rs 450 crore, with a consolidated profit after tax (PAT) margin of 6-8 per cent in the current financial year.

Similarly, PECL is expected to achieve consolidated sales of Rs 110 crore to Rs 125 crore, with a PAT margin of 6-8 per cent.

Pritika Group of industries is an Indian conglomerate specializing in the manufacturing of precision machined components and castings for the automotive industry.