Pricol Q4 FY26: PAT up 110%, shares jump 10%

Stock jumps after Q4 earnings

Pricol shares rose 10.02% to Rs 629.80 after the automotive components maker reported strong earnings growth for Q4 FY26. The move came as the company posted a sharp year-on-year expansion in profit and revenue, alongside an improvement in operating margin. The quarter also included a leadership transition at the board level.

The results were presented as part of the company’s Q4 and FY26 earnings update, with management flagging a challenging operating backdrop for the broader auto supply chain. Despite the headwinds referenced in commentary, the reported numbers reflected strong growth versus the year-ago period.

Q4 FY26: Profit more than doubles

On a consolidated basis, profit after tax (PAT) stood at Rs 73.23 crore in Q4 FY26. This was up 109.53% from Rs 34.95 crore in Q4 FY25 and higher by 14.98% from Rs 63.69 crore in Q3 FY26. Profit before tax (PBT) rose to Rs 95.74 crore, up 81.19% year-on-year from Rs 52.84 crore, and up 13.30% sequentially from Rs 84.50 crore.

Revenue from operations increased 43.34% year-on-year to Rs 1,077.90 crore, compared with Rs 752.01 crore in Q4 FY25. Sequentially, revenue rose 5.64% from Rs 1,020.36 crore in Q3 FY26. The company also reported total income of Rs 1,103.26 crore for Q4 FY26.

Operating performance and margin improvement

EBITDA for the quarter was reported at Rs 143.28 crore, up 62.27% year-on-year from Rs 88.29 crore. EBITDA margin improved to 13.29% from 11.74% a year ago, indicating better operating leverage despite a higher cost base.

In the earnings call highlights, the company also reported a PAT margin of 6.79% for Q4 FY26, along with basic EPS of Rs 6 per share for the quarter. These metrics were discussed as part of the consolidated performance summary shared with participants.

Costs rise, but growth outpaces expenses

Total expenditure increased 40.46% year-on-year to Rs 968.21 crore in Q4 FY26 from Rs 689.31 crore in Q4 FY25. Raw material cost rose 44.01% to Rs 747.49 crore from Rs 519.06 crore, reflecting higher input consumption aligned with volume and revenue growth.

Employee expenses increased 20.51% to Rs 123.38 crore from Rs 102.38 crore. Interest cost increased 58.27% year-on-year to Rs 8.23 crore from Rs 5.20 crore, while depreciation expense rose 17.95% to Rs 31.08 crore from Rs 26.35 crore.

FY26: Revenue near Rs 4,000 crore, PAT up 50%

For FY26, consolidated revenue from operations rose 51.24% year-on-year to Rs 3,963.85 crore, up from Rs 2,620.91 crore in FY25. Annual total income for FY26 was reported at Rs 4,052.37 crore, compared with Rs 2,708.56 crore in FY25.

PBT increased 46.04% to Rs 330.94 crore from Rs 226.61 crore. PAT rose 50.15% to Rs 250.80 crore from Rs 167.03 crore. FY26 EBITDA increased 47.53% year-on-year to Rs 492.91 crore, while EBITDA margin stood at 12.44%.

In the earnings call summary, the company also reported PAT margin of 6.33% for FY26 and EPS of Rs 20.57 per share.

Cash flow and leverage points flagged in the call

Net cash from operating activities increased to Rs 281.26 crore in FY26 from Rs 223.43 crore in FY25. Separately, management referenced net debt of Rs 63.11 crore as of 31 March 2026, in the context of a classification change around supplier and customer discounting.

These data points matter for investors tracking how much of the growth translated into cash generation, and how working capital and funding costs may evolve as interest expenses rose in the quarter.

Standalone update: March 2026 net sales

Alongside consolidated performance, the update also referenced standalone March 2026 net sales of Rs 855.55 crore, up 37.16% year-on-year. For the full year FY26, standalone revenue from operations was reported at Rs 3,019.07 crore, up 22.83% from Rs 2,457.98 crore in FY25.

Standalone PAT for FY26 was Rs 207.34 crore, up 45.54% from Rs 142.46 crore in FY25. Standalone EPS for FY26 stood at Rs 17.01 versus Rs 11.69 in FY25.

Management commentary: headwinds, but investments continue

Vikram Mohan, chairman and managing director, said FY26 was a defining year for the global automotive industry amid supply chain disruptions and geopolitical tensions. Management commentary referenced factors such as a semiconductor crisis, a rare earth magnet crisis, and the West Asia crisis during the year.

At the same time, the company indicated it had crossed the Rs 4,000 crore total income milestone through a mix of organic and inorganic growth. The commentary also stated that investments in engineering, localisation, and technology-led mobility solutions continued.

Leadership transition during the quarter

Pricol announced a leadership transition during the quarter, with Vanitha Mohan stepping down as chairman after serving the company for several decades. The board appointed Vikram Mohan as chairman and managing director, and highlighted his role in driving operational excellence, global partnerships, and long-term growth initiatives.

Governance changes of this nature are typically closely watched, particularly when they coincide with periods of rapid scale-up and acquisition-led expansion.

Key reported numbers at a glance

What investors will track next

After a quarter marked by strong year-on-year growth and a notable stock reaction, attention is likely to remain on margins, costs such as interest and depreciation, and the pace of cash generation. Management has also pointed to an uncertain environment shaped by geopolitical and supply chain issues.

The next set of updates will be watched for how the company balances continued investment plans with sector-level volatility referenced in its commentary, and for any further detail following the board-level leadership transition.