Automotive component manufacturer Pricol Ltd announced that its board has approved the sale of its wiping business division to Auto Ignition Ltd for ₹20 crore through a slump sale. The decision was finalized during the board meeting held on January 2, 2025, as stated in the company’s regulatory filing.
The business transfer agreement was signed on the same day, and the transaction is expected to conclude by January 31, 2025, subject to the fulfillment of conditions outlined in the agreement. Pricol’s wiping business generated ₹66.36 crore in revenue during FY24. Auto Ignition Ltd, which focuses on motors and alternators for the automotive industry, operates independently of Pricol’s promoter group.
Pricol continues to showcase strong financial performance, reporting consolidated profits of ₹45.07 crore for the July-September 2024 quarter, an increase from ₹33.15 crore in the same quarter of the previous year. For the first half of FY25, profits climbed to ₹90.63 crore, up from ₹65.09 crore year-on-year. The company’s total income during the latest quarter rose to ₹674.95 crore from ₹581.84 crore in the corresponding period last year.
Pricol Limited is a prominent Indian manufacturer of automotive components, headquartered in Coimbatore, Tamil Nadu. Established in 1972, the company has earned a reputation for its innovation and quality in delivering advanced automotive solutions.
Pricol specializes in products such as instrument clusters, sensors, telematics solutions, pumps, and wiping systems, catering to two-wheelers, four-wheelers, commercial vehicles, and off-road applications. With a strong focus on research and development, the company serves leading domestic and international original equipment manufacturers (OEMs) across the globe. Pricol is committed to sustainability and excellence, driving growth through cutting-edge technology and customer-centric solutions.
