Pritika Group, a prominent player in the engineering and automotive components sector, has set an ambitious target of ₹950 crore in sales over the next three years, buoyed by a substantial order book valued at ₹650 crore. The company’s growth strategy is fueled by increasing demand in the engineering and automotive components markets, as outlined in a statement released on Monday.
Harpreet S. Nibber, Managing Director of Pritika Engineering Components Ltd, announced, “We aim to reach sales of approximately ₹900 crore to ₹950 crore, with a profit after tax (PAT) margin of 7-10 percent within the next three years.”
The company is building on a strong performance in the fiscal year 2023-24 and a solid start in the April-June quarter of FY25. The goal is to leverage the rising demand in their sector. In the previous fiscal year, Pritika Group showed robust financial results. Pritika Auto Industries Ltd reported consolidated income of ₹343.71 crore, marking a 15.74 percent year-on-year increase.
The company’s earnings before interest, taxes, depreciation, and amortization (EBITDA) rose to ₹54.10 crore, highlighting its operational efficiency. Pritika Engineering Components Ltd (PECL), another key subsidiary, achieved a consolidated total income of ₹87.56 crore and saw a year-on-year increase in EBITDA of 11.95 percent.
To meet growing demand, PECL plans to expand its production capacity and explore new markets, including railways and defense components. The company has proposed a capital expenditure of up to ₹49.50 crore, which will be supported by a new fundraise, and has increased its authorized share capital from ₹20 crore to ₹25 crore.
For the current financial year, Pritika Auto Industries Ltd expects consolidated sales of ₹425 crore to ₹450 crore, with a PAT margin of 6-8 percent. PECL anticipates consolidated sales between ₹110 crore and ₹125 crore, also with a PAT margin of 6-8 percent. Pritika Group is a leading Indian conglomerate specializing in the manufacturing of precision machined components and castings for the automotive industry.
