Shriram Pistons & Rings Ltd
NSE:SHRIPISTON

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Shriram Pistons & Rings Ltd
NSE:SHRIPISTON
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Price: 3 213.6 INR 3.59%
Market Cap: 141.6B INR

Shriram Pistons & Rings Ltd
Investor Relations

Shriram Pistons & Rings Ltd. emerged as a formidable player in the Indian automotive component manufacturing industry, weaving a story of precision engineering and keen business acumen. Founded in the mid-1970s, the company has etched its identity by specializing in the production of pistons, piston rings, and engine valves. These components are crucial for the internal combustion engines that power a wide range of vehicles, from two-wheelers and passenger cars to commercial vehicles. With its advanced manufacturing processes and a strong emphasis on research and development, Shriram Pistons has managed to establish partnerships with globally renowned technical collaborators. This has enabled it to stay at the forefront of technology and quality, catering to major automotive OEMs and the aftermarket industry both domestically and internationally.

The company’s revenue model is intricately tied to the rhythm of the automotive industry, capitalizing on the persistent demand for replacement parts. Beyond manufacturing, Shriram Pistons & Rings has adeptly leveraged its expansive distribution network, ensuring it meets customer demand swiftly and efficiently. This strategic focus on both OEM supply chains and aftermarket sales aids in smoothing revenue streams, alleviating some of the fluctuations typical in the automotive sector. Furthermore, as the auto industry pivots towards stricter emission norms and enhanced fuel efficiency, Shriram Pistons is positioned to benefit by supplying high-performance components that meet the new regulatory standards. This convergence of technical expertise, robust market presence, and adaptability keeps Shriram Pistons & Rings thriving in an ever-evolving industry landscape.

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SHRIPISTON
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Last Earnings Call
Fiscal Period
Q2 2026
Call Date
Nov 7, 2025
AI Summary
Q2 2026

Strong Growth: Shriram Pistons & Rings reported Q2 consolidated total income up 15% year-on-year, with consolidated EBITDA margin at 22.4% and PAT margin at 13.6%.

End Market Outperformance: The company’s growth rate in H1 was more than double the average 3–4% growth seen in its end markets.

Resilient Exports: Despite export headwinds from tariffs and geopolitical issues, international operations remained stable, with gains in off-road segments.

Subsidiary Success: Subsidiaries, including EV and plastic components businesses, saw significant scaling up and margin improvement, driven by new business wins.

EV Progress: Commercial production at the new Coimbatore EV motor and controller facility is set to start this quarter; company advancing on rare earth-free magnet technology.

Growth Drivers: Management expects steady growth ahead, supported by GST reforms, festive season demand, and ongoing cost optimization.

M&A Strategy: The company is actively pursuing larger M&A opportunities and continues investing surplus cash in value-accretive growth.

Technological Leadership: Continued investment in automation, R&D, and alternative fuel technologies positions the company for the evolving powertrain landscape.

Key Financials
Consolidated Total Income
15% YoY growth in Q2
Consolidated EBITDA Margin
22.4%
Consolidated PAT Margin
13.6%
Subsidiaries Growth Rate
Over 10% (when end markets at 3–4%)
EV Business Revenue FY '25
INR 26 crores
Return on Equity (ROE)
21%
Other Earnings Calls

Management

Mr. Krishnakumar Srinivasan
MD, CEO & Director
No Bio Available
Mr. Prem Prakash Rathi
CFO & Dy. Executive Director
No Bio Available
Mr. Sandeep Agrawal
Executive Director & Chief Marketing Officer
No Bio Available
Ms. Poonam Bharti
Executive Director & Chief HR Officer
No Bio Available
Mr. Luv Deepak Shriram
Whole-Time Director
No Bio Available
Mr. Ashok Sinha
Deputy Executive Director
No Bio Available
Mr. Pankaj Gupta
Senior GM, Head of Legal, Company Secretary & Compliance Officer
No Bio Available
Mr. Prashant Khairnar
Chief Digital Officer
No Bio Available
Mr. Pankaj Kumar Jain
Chief Quality Officer
No Bio Available

Contacts

Address
DELHI
New Delhi
3rd Floor, Himalaya House 23, Kasturba Gandhi Marg
Contacts