Pricol Doubles Revenue to ₹3,964 Crore in FY26 Driven by High R&D Spending

Coimbatore-based automotive component manufacturer Pricol has more than doubled its consolidated revenue over a four-year period, climbing from ₹1,903 crore in FY23 to ₹3,964 crore in FY26. According to the company, this financial growth was driven by its sustained high investment in research and development (R&D), which has helped it maintain a competitive edge in high-value segments such as driver information systems.

The manufacturer, which specializes in vehicle dashboards and driver information systems, continues to outspend most of its Indian auto component peers on R&D. Pricol has consistently maintained its R&D expenditure at around 3% of its revenue, a figure that is roughly twice the average spending rate seen across the rest of the Indian auto component industry.

Although the company's R&D expenditure as a percentage of revenue has moderated in recent years due to a sharp rise in its overall topline, the actual investments remain high. Pricol spent 4.01% of its revenue on R&D in FY23, which changed to 3.4% in FY24, 2.93% in FY25, and 2.87% in FY26.

Vikram Mohan, the Chairman and Managing Director of Pricol, addressed this ongoing strategy during the company's earnings call in May. Mohan explained that the heavy investments in technology and R&D are intended to develop new products and technologies that keep the company ahead of the curve compared to its market competition.

According to the company, this sustained focus on product development and R&D has successfully allowed Pricol to stay ahead of its competitors and steadily gain market share in the automotive component sector.