Pricol rating reaffirmed

The FAA rating assigned to the fixed deposit programme of Premier Instruments and Controls (Pricol) has been reaffirmed.

The rating reflects Pricol's leadership position in the automotive instrumentation and two wheeler oil pumps business, its diversified presence in the domestic OEM market, the benefits of its collaborations with Denso Corporation of Japan and healthy interest coverage levels (as measured by PBDIT/ interest and finance charges).

The ratings also factor in the deterioration in the company's financial risk profile due to the potential losses in its investments in group companies and the increasing pressures on Pricol's profit margins due to competition from other global majors as well as pricing pressures from domestic OEMs.

Pricol is a Coimbatore-based company engaged in the manufacture and sale of dashboard instruments, two wheeler oil pumps, idle speed control valves and the like.

- Corporate Bureau

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Section  : Business
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