Incorporated in 1992, Precision Camshafts Limited (PCL) is a leading manufacturer and supplier of camshafts in India and globally. The company specialises in producing over 150 varieties of camshafts for diverse applications including passenger vehicles, tractors, light commercial vehicles, and locomotive engines. PCL is recognised as one of the largest camshaft manufacturers worldwide, distinguished by its capability to produce all types of camshafts under one roof.
PCL operates as a comprehensive automotive components manufacturer with a strong focus on precision engineering. With two global manufacturing facilities, primarily located in Solapur, Maharashtra, the company boasts an aggregate capacity of 15.6 million camshafts annually, contributing to a global market share of 8-9%. Domestically, Precision Camshafts holds a commanding 70% market share in India, serving major customers such as Maruti Suzuki, Hyundai India, Tata Motors, and Mahindra.
Precision Camshafts Limited is a dominant player in the camshaft manufacturing industry, holding a 70% domestic market share and a 9% global market share. The company's extensive product portfolio includes over 150 varieties of camshafts, such as Chilled Cast Iron, Ductile Iron, Hybrid, and Assembled Camshafts, primarily catering to passenger vehicles. Camshafts & Assemblies constitute the primary business segment, accounting for 87% of revenue in Q2 FY25, highlighting the company's core focus.
PCL has established robust relationships with major automotive manufacturers worldwide. The company's commitment to quality was acknowledged when it received two prestigious awards from Toyota Motor Corporation (Toyota Industries Engine India) in 2022: "Zero Defect Supplies" for supplying over 200,000 machined camshafts without a single defect, and "Best Quality Supplier of the Year 2022".
• Market Capitalization: ₹2,040 Crore (as of latest available data, up 17.4% in 1 year)
• FY2024-25 Performance:
• Revenue: ₹865.36 Crore (down 16.08% from FY2023-24)
• Net Profit: ₹54.11 Crore (up 34.10% from FY2023-24)
• Q4 FY2024-25 Performance:
• Revenue: ₹190.43 Crore (down 25.67% from Q4 FY2023-24)
• Net Profit: ₹40.44 Crore (up 1107.16% from Q4 FY2023-24)
• Promoter Holding: 65.4% (stable)
Precision Camshafts Limited (PCL) is distinguished by its comprehensive manufacturing capabilities. Operating from its facilities in Solapur, India, PCL has 4 foundries and 4 machine shops, enabling the production of all types of camshafts under one roof, including Chilled Cast Iron, Ductile Iron, Hybrid Camshafts, and Assembled Camshafts.
The company is actively expanding its manufacturing footprint. A groundbreaking ceremony (Bhoomi Poojan) was held for a new 25-acre (100,000 sq m) facility in Chincholi, Solapur. This new campus will house a state-of-the-art machine shop for assembled camshafts and other niche, intricate products, catering to its marquee OEM customers. PCL also plans to expand its electric mobility footprint within this new campus.
The Precision Group operates as a global engineering company with manufacturing presence in India, Germany, and the Netherlands. The group manufactures a diverse range of automotive components through its subsidiaries:
- MEMCO (India): Supplies high-demand automotive components, including fuel injection components, brake components, high-pressure diesel injector connectors, and high-precision instrumentation components.
- MFT (Germany): Specialises in niche machined components such as balancer shafts, camshafts, bearing caps, engine brackets, and various non-engine prismatic components.
- EMOSS (Netherlands): Offers complete end-to-end solutions for electric drivelines for heavy equipment, including buses and trucks, marking the group's significant presence in the electric mobility sector.
PCL is strategically focusing on electric mobility solutions, primarily through its EMOSS operations. The company is nearing completion of new manufacturing plants designed to enhance production capabilities, particularly in the electrification of heavy vehicles, which presents a promising opportunity in the Indian market. Through EMOSS India, PCL is establishing a cutting-edge Electric Mobility Hub to drive innovation in sustainable logistics.
Despite challenges in the European EV market due to geopolitical instability and reduced subsidies, PCL is proactively implementing strategies for import substitution and localising its supply chain to strengthen its competitive position.
The promoter holding remains stable at 65.4%, reflecting confidence in the company's long-term prospects.
Recent corporate actions include:
- Dividend Recommendation: The Board of Directors, at its meeting on May 27, 2025, recommended a final dividend of ₹1 per equity share (10%) for shareholder approval.
- Annual General Meeting: The 33rd Annual General Meeting (AGM) of the company is scheduled for July 30, 2025.
Precision Camshafts Limited maintains an optimistic outlook for future growth, particularly within the heavy vehicle segment, despite a cautious near-term revenue generation forecast. The company's vision is to be the world leader in camshaft manufacturing, fostering mutually beneficial engagements with Original Equipment Manufacturers (OEMs) across the globe.
PCL's strategic positioning within the automotive components sector, coupled with its expansion into electric mobility and strong relationships with major OEMs, places it in a favourable position for sustained growth, even amidst current market challenges.
