SHRIPISTON

Shriram Pistons & Rings share price & financials

Price
₹3,739.7
Market cap
₹20.9k Cr
Sector
Automobile and Auto Components
Calls analysed
6
Latest concall · Q1 FY27 · call held 05 Aug 2026

Shriram Pistons & Rings Limited Q1 FY27

Net Debt ₹550 cr

What went well

  • Consolidated total income grew 51% year-on-year.
  • Consolidated EBITDA grew 27% year-on-year.
  • Consolidated profit before tax grew 7% year-on-year.

What to watch

  • Elevated finance costs due to funding acquisitions, though expected to be temporary.
  • Challenging industry backdrop with elevated commodity prices, supply chain disruptions, and geopolitical tensions.
Read the full call →

What Shriram Pistons & Rings Limited does

Shriram Pistons & Rings (renamed SPR Auto Technologies in 2026) manufactures pistons, piston rings, piston pins and engine valves for two/three-wheelers, passenger vehicles, commercial vehicles, tractors and industrial/genset engines, supplying domestic OEMs, the aftermarket and export customers under decades-old technology tie-ups with Kolbenschmidt (Germany), Riken and Honda Foundry (Japan) and Fuji Oozx (Japan). It has diversified beyond core engine components through group companies into high-precision injection-moulded plastic parts (SPR Takahata, SPR TGPEL), EV motors and controllers (SPR EMF Innovations), and automotive interior and lighting systems (SPR Auto Interior Solutions, formerly Grupo Antolin India, and Karna Intertech, a gravity die-casting mould supplier). The group runs manufacturing plants across Uttar Pradesh, Rajasthan, Haryana, Maharashtra, Tamil Nadu and Madhya Pradesh, backed by a DSIR-recognised in-house technology centre for engine-component design, rig testing and alternate-fuel (CNG, hydrogen, ethanol) development.

Segments

  • Core / Legacy Products
  • High-Precision Injection Moulded Components
  • EV Motors & Controllers
  • Automotive Interior Solutions
Manufacturing facilities
14
Market position
Market leader in India's core OEM business (pistons, piston rings, engine valves)
Group/subsidiary companies
8
Assembly units
8
Sales and administrative offices
7
Logistics centers worldwide
22
Founded 1972Headquarters New Delhi, IndiaEmployees 3,857 (2025-03-31) Company website

Guidance record · Q1 FY27

what the last two calls moved 13 tracked 2 delivered 0 missed 11 open
  • Plant Commissioning Timeline delivered, diluted said Q4 FY25 Promised: Functional by end of June 2025 Q1 FY27: Promise remains achieved. Management noted the plant, commissioned in December, is now set to deliver its full-year benefit in FY27, confirming it is fully operational and contributing to growth.
  • Return on Equity (ROE) on track said Q2 FY26 Promised: Maintain ROE of 21% or above Q1 FY27: ROE was not mentioned during the Q1 FY27 earnings call. The promise is ghosted for this quarter.
  • Export Volumes at risk said Q4 FY25 Promised: Pick up and come back to normal and probably exceed expectations Q1 FY27: Management reiterated that exports are still affected, especially in Europe and America, due to geopolitical situations and supply chain issues, with normalization expected to take more time.

All 13 tracked — every revision, and every one management stopped mentioning.

Open the guidance ledger

Quarterly results

Q1 FY27: revenue up 12.7%, net profit down 13.8% against the same quarter last year.

₹ Cr · quarterly
Line itemQ2 FY25Q3 FY25Q4 FY25Q1 FY26Q2 FY26Q3 FY26Q4 FY26Q1 FY27
Revenue794 770 855 836 873 +10%865 +12%953 +11%942 +13%
EBITDA167 163 190 176 183 +10%178 +9%207 +9%181 +3%
Net profit125 120 138 130 134 +7%115 −4%135 −2%112 −14%
How to read this

₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.

Performance +64.2% 1Y

₹2.5k₹3.0k₹3.5k₹4.0k₹4.5kSept 25Oct 25Dec 25Jan 26Mar 26Apr 26Jun 26Jul 26Sept 26Q2 FY26 — 7 Nov 2025Q3 FY26 — 3 Feb 2026Q4 FY26 — 12 May 2026Q1 FY27 — 5 Aug 2026

1Y: ₹2,662.1 on 10 Sept 2025 → ₹4,371.5. High ₹4,746.8 (24 Aug 2026), low ₹2,588.5 (12 Sept 2025).

How the price took the results

close before → close after

Q1 FY27
+0.9%
5 Aug
Q4 FY26
−3.6%
12 May
Q3 FY26
+6.2%
3 Feb
Q2 FY26
−2.4%
7 Nov

The move from the last close before each results date to the first close after it — the market's first read on the quarter, not the quarter itself.

Financials, as filed

Revenue grew 10.6% a year over 3 years, FY23 to FY26. Operating margin widened to 21.1%.

Year endingFY23FY24FY25FY26
Revenue₹2.6k Cr₹3.0k Cr₹3.2k Cr₹3.5k Cr
Operating profit₹461 Cr₹630 Cr₹676 Cr₹744 Cr
Operating margin17.7%21.3%21.3%21.1%
Interest₹19 Cr₹25 Cr₹25 Cr₹49 Cr
Depreciation₹95 Cr₹87 Cr₹87 Cr₹89 Cr
Net profit₹294 Cr₹447 Cr₹497 Cr₹514 Cr
Net margin11.3%15.1%15.6%14.6%
Cash from operations₹399 Cr₹474 Cr₹419 Cr₹535 Cr
Free cash flow₹369 Cr₹394 Cr₹351 Cr₹421 Cr
ROCE25.0%30.0%27.0%20.0%
How to read this

From the company's own filings. Margins are computed from the filed sums; a year with an incomplete quarter is left blank rather than estimated.

Balance sheet

Year endingFY21FY22FY23FY24FY25FY26
Equity capital₹22 Cr₹22 Cr₹22 Cr₹44 Cr₹44 Cr₹44 Cr
Reserves₹1.1k Cr₹1.2k Cr₹1.5k Cr₹1.9k Cr₹2.6k Cr₹2.8k Cr
Borrowings₹146 Cr₹157 Cr₹319 Cr₹368 Cr₹537 Cr₹1.7k Cr
Other liabilities₹409 Cr₹438 Cr₹486 Cr₹554 Cr₹855 Cr₹613 Cr
Total liabilities₹1.7k Cr₹1.9k Cr₹2.3k Cr₹2.9k Cr₹4.0k Cr₹5.2k Cr
Fixed assets₹703 Cr₹689 Cr₹627 Cr₹607 Cr₹1.2k Cr₹612 Cr
Capital work in progress₹8 Cr₹6 Cr₹5 Cr₹9 Cr₹64 Cr₹18 Cr
Investments₹34 Cr₹32 Cr₹192 Cr₹395 Cr₹206 Cr₹2.4k Cr
Other assets₹959 Cr₹1.1k Cr₹1.5k Cr₹1.9k Cr₹2.5k Cr₹2.2k Cr
Total assets₹1.7k Cr₹1.9k Cr₹2.3k Cr₹2.9k Cr₹4.0k Cr₹5.2k Cr
How to read this

As filed each year. A line the company does not report — deposits for a non-lender, for instance — is left out rather than shown as a row of dashes.

Who owns it

As disclosed at Aug 2026

Since Sep 2025, the public trimmed −2.96 pp while DIIs added +2.77 pp. The shareholder count grew 13% to 58,035.

Promoters
41.5%
FIIs
8.4%
DIIs
16.0%
Public
34.0%

Since Sep 2025

  • Public −2.96 pp
  • DIIs +2.77 pp
  • FIIs +2.40 pp

How it drifted, 12 quarters

Over this window FIIs went from 1.1% to 8.4% — +7.3 pp.

Dec '23Mar '25Aug '26

Ownership split by quarter, oldest first. Dec '23: Promoters 46.8%, FIIs 1.1%, DIIs 13.1%, Public 39.1%.Mar '24: Promoters 46.8%, FIIs 1.4%, DIIs 12.6%, Public 39.4%.Jun '24: Promoters 46.8%, FIIs 2.0%, DIIs 11.8%, Public 39.5%.Sep '24: Promoters 43.8%, FIIs 4.3%, DIIs 12.7%, Public 39.2%.Dec '24: Promoters 43.8%, FIIs 4.5%, DIIs 13.1%, Public 38.7%.Mar '25: Promoters 43.8%, FIIs 5.3%, DIIs 13.2%, Public 37.8%.Jun '25: Promoters 43.8%, FIIs 5.9%, DIIs 13.3%, Public 37.0%.Sep '25: Promoters 43.8%, FIIs 6.0%, DIIs 13.2%, Public 37.0%.Dec '25: Promoters 43.8%, FIIs 6.6%, DIIs 13.1%, Public 36.5%.Mar '26: Promoters 43.8%, FIIs 7.7%, DIIs 12.9%, Public 35.7%.Jun '26: Promoters 43.8%, FIIs 8.2%, DIIs 12.2%, Public 35.9%.Aug '26: Promoters 41.5%, FIIs 8.4%, DIIs 16.0%, Public 34.0%.

Who was buying across the market this quarter →

Who bought this quarter

since Jun 2026

Disclosed holders that added to a position or appeared on the register for the first time, biggest addition first.

The same filing shows 6 holders trimming and 3 off the list — both are in the register beside this.

Who is on the register

Named in the Aug 2026 filing

Every holder of Shriram Pistons & Rings Limited above SEBI's 1% disclosure line, and what changed since Jun 2026.

HolderStakeChange
Meenaksi Dass 25.90%+22.11 pp
Npr-Riken Niigata Corporation 20.23%newly disclosed
Sarva Commercial Pvt Ltd 4.60%−0.24 pp
Sera Com Private Ltd. 4.10%−0.22 pp
Manisha Commercial Private Limited 2.88%−0.15 pp
DSP Small Cap Fund Mutual fund2.33%−0.12 pp
National Insurance Company Ltd Insurer2.32%−0.22 pp
Theleme India Master Fund Limited FPI fund1.78%−0.10 pp
Shabnam Commercial Pvt Ltd 0.44%unchanged
NBFCs registered with RBI NBFC / DFI0.17%newly disclosed
Investor Education and Protection Fund (IEPF) 0.08%newly disclosed
Luv D. Shriram 0.02%unchanged

A holder disappearing from this list has fallen below the 1% line — it is not necessarily a sale. Percentages are of total shares, as disclosed in the company's own filing. Who was buying across the market this quarter.

Mutual funds in SHRIPISTON

Filings to Aug 2026

1 new, 0 added, 0 trimmed, 0 sold out — net +1.64 L shares.

Held by funds
₹75 Cr
1 schemes
Biggest holder
SBI Automotive Opportunities Fund
₹75 Cr · 1.2% of that fund
SchemeHoldingLast month
SBI Automotive Opportunities Fund SBI Mutual Fund₹75 Crnew

HDFC, Nippon India and SBI schemes, from their monthly disclosures. Changes are counted in shares, so a price move never looks like buying or selling.

Mutual funds Aug 2026

0 added, 0 trimmed — net +1.64 L shares

Funds are sitting on
-19%
vs est. average cost
Held by funds
₹75 Cr
1 schemes · ≈ 0.29% of the company

What the price assumes

Expensive

To justify its price of ₹4372, this stock must grow earnings at 26% every year for 7 years. Our analysis caps realistic growth at ~20%. At that growth it is worth ₹3262 — downside of 25%.

Growth the price implies
26.3% a year
for 7 years, fading to 4%
It has actually compounded at
20.5% a year
net profit, FY23–FY26 · EPS 20.5%
The gap
0.1 pp
-25% downside if it only repeats history
Price today ₹4,371.5 Value at the reference growth ₹3,262.27

Change the assumptions yourself →

All earnings calls (6)

Read the Q1 FY27 call →

Learn to analyse Shriram Pistons & Rings Limited

Guides on how to read this kind of business and the numbers that matter.