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Pricol Ltd. Company History and Annual Growth Details

Premier Instruments & Controls Limited is primarily an Automobile Ancillary Unit with diversification in the recent years into Electronic Control Instruments, Precision Machine Tools, Panel and Sensor Instruments for Defence and Industrial Gauges. Its main line of business is manufacture of automotive instruments and allied accessories.

The Company was established in 1972 and commenced commercial production in the year 1975 with an initial capacity of 4 lakh Nos. of Dashboard Instruments per annum at its Factory at Coimbatore.

The Company registered consistent growth in the turnover over the years due to its dedicated personnel and commitment to quality and service. Continuous Research & Development work and multi disciplinary Engineering Base have strengthened its capacity to cater to the changing
needs of the end users within a reasonable time. The Company has set up an assembling unit at Gurgaon, Haryana, with an annual installed capacity of 5 lakh Nos. of Dashboard Instruments, to be of better service to OEM customers situated in the Northern Region. The commercial
production at assembling unit at Gurgaon commenced in April, 1988.

The Company increased its installed capacity from 4 lakh Nos.34.50 lakh Nos. of Dashboard Instruments per annum over the period and has emerged as the market leader having a market share of more than 50% of OEM's requirements in the domestic market, catering to the needs of almost all
the vehicle manufacturers in the country, besides meeting more than 40% of the replacement market demand through the countrywide dealers net work. The turnover of the Company increased from Rs.10 lacs during the year 1975, the year of commencement of commercial production, to Rs.1010 lacs in the year 1985 end to Rs.5914 lacs in the previous year
ending 31st March 1994.

The Company has made a small beginning in Export of its products with a turnover of Rs. 2.88 lacs in 1985. The Export turnover achieved during the last financial year ending 31st March 1994 - Rs.752 lacs. The Company is the first among the few and only one in the automotive
instrumentation field to obtain the coveted ISO 9001 Certificate in this country.

During the year 1985, the Company has entered Into technical collaboration with M/s. NS International Ltd., U.SA. (a subsidiary of M/s. Nippon Seiko Co. Ltd., Japan) for upgradation of existing technology in the manufacture of Dashboard Instruments for two wheelers. The technology has been fully absorbed.

During the year 1991-92, the Company has entered into technical collaboration with M/s. Nippondenso Co. Ltd. Japan for ungradation of technology in the manufacture of four wheeler Instruments thereby improving upon its quality levels and manufacturing methods to keep pace with the international technological government in the
instrumentation field. The technology has been fully absorbed.

The products manufactured by the company caters to the needs of the established vehicle manufacturers like Maruti, TELCO, Eicher, DCM, Kinetic Honda, Hero Honda, Escorts, TVS Suzuki, Ashok Leyland, Mahindra and Mahindra, Bajaj Auto, Bajaj Tempo, Tafe, Premier Automobiles, Hindustan Motors, etc.

THE MAIN OBJECTS OF THE COMPANY

1. To carry on the business of manufacturers and dealers in Speedometers, Pressure Gauges, Temperature Gauges, Ammeters, vacuum Gauges, Fuel Gauges, Tank Units, Hour Meters, Tacho Meters, Electronic Speedometers and Gauges, Speedometer Cables and other Dash Board Instruments, Industrial Gauges and Meters required for other vehicles,
automobiles, air-craft and any manufacturing industry.

2. To carry on the business of Manufacturers, Importers, Exporters, Dealers in, Assemblers of, Hirers, Repairers, Cleaners, Storers, Warehousers of all precision instruments and gauges including panel instruments for automobiles, air-craft, cycle and other garage industries, equipments, tools and machinery of all descriptions and ancillaries and components related to these items.

2001 - The Coimbatore-based Premier Instruments and Controls Ltd. (Pricol) has launched
disc brakes for two-wheelers.

2002

-Appoints Mr Takeshige as the Nominee Director on the Board of the company.

2003

-Company in collaboration with Directed Technologies, floats a new company Xenos Technologies Ltd to manufacture and market advanced versions of vehicle security systems in India.

-US based Directed Electronics Inc picks up the company to produce and market its newly developed two-wheeler security systems in India.

2005

-Delist equity shares from the Coimbatore Stock Exchange Ltd (CSE) & Madras Stock Exchange Ltd (MSE).

2006

-Pricol Limited has informed that Mr. T. K. Balaji has resigned from the Board of Directors of the Company with effect from October 31, 2006. Further, in line with the retirement policy for the Directors of the Company, Mr. E. K. Parthasarathy has retired from the Board of Directors of the Company with effect from October 31, 2006.

2007

-Pricol Limited has appointed Dr.Kalyani Gandhi as an additional director of the Company with effect from January 27,2007.

- Pricol Limited has appointed Mr. M. Lakshminarayan as an additional director of the Company with effect from May 29, 2007.

2009

- Pricol Ltd has informed that the Board of Directors of the Company at its meeting held on May 29, 2009, inter alia, has appointed Mr. Vikram Mohan as an additional director of the Company with effect from May 29, 2009.

- Pricol Ltd has informed BSE that Mr. G Soundararajan and Mr. K Murali Mohan has been appointed as Directors of the Company with effect from July 31, 2009.
 
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