Net profit of Precision Camshafts rose 116.90% to Rs 20.54 crore in the quarter ended March 2019 as against Rs 9.47 crore during the previous quarter ended March 2018. Sales rose 17.34% to Rs 122.87 crore in the quarter ended March 2019 as against Rs 104.71 crore during the previous quarter ended March 2018.

For the full year,net profit rose 23.45% to Rs 42.91 crore in the year ended March 2019 as against Rs 34.76 crore during the previous year ended March 2018. Sales rose 5.78% to Rs 423.69 crore in the year ended March 2019 as against Rs 400.55 crore during the previous year ended March 2018.

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Precision Camshafts will hold a meeting of the Board of Directors of the Company on 27 May 2019.

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Precision Camshafts Limited (PCL) is a leading manufacturer and supplier of camshafts in India and globally. PCL is one of the few global players with technological capabilities across all the manufacturing processes -chilled cast iron, ductile iron, hybrid and assembled camshafts. On 27th April 2019, PCL announced that its Board of Directors have approved to initiate liquidation of PCL (Shanghai) Co. LTD, wholly owned subsidiary. The liquidation will help free resources and allow management to focus on its core manufacturing business in India and Europe and serve its Global marquee OEM base.

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Precision Camshafts has acquired remaining 5% Equity Shares in MEMCO Engineering, having registered office at F-5, Satpur MIDC, Nashik -422005, Maharashtra.

Memco is engaged inmanufacturing of precisioncomponents from stainless steel,titanium and high tensile material.Memco caters to automotive,marine, industrial, industrial,instrumentation and engineeringindustry.

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