Shriram Pistons & Rings Ltd
Shriram Pistons & Rings Ltd is primarily engaged in the manufacturing of pistons, piston pins, piston rings and engine valves for various automotive companies in the domestic and export markets.[1]
- Market Cap ₹ 12,040 Cr.
- Current Price ₹ 2,733
- High / Low ₹ 2,790 / 1,556
- Stock P/E 22.9
- Book Value ₹ 543
- Dividend Yield 0.37 %
- ROCE 25.7 %
- ROE 23.2 %
- Face Value ₹ 10.0
Pros
- Company has delivered good profit growth of 47.8% CAGR over last 5 years
Cons
- Company might be capitalizing the interest cost
* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|
1,170 | 1,244 | 1,393 | 1,463 | 1,729 | 1,955 | 1,607 | 1,597 | 2,065 | 2,609 | 3,089 | 3,550 | 3,676 | |
940 | 1,054 | 1,161 | 1,207 | 1,436 | 1,660 | 1,425 | 1,381 | 1,760 | 2,149 | 2,447 | 2,826 | 2,922 | |
Operating Profit | 229 | 190 | 232 | 255 | 293 | 295 | 182 | 216 | 304 | 460 | 642 | 724 | 754 |
OPM % | 20% | 15% | 17% | 17% | 17% | 15% | 11% | 14% | 15% | 18% | 21% | 20% | 21% |
10 | 17 | 18 | 26 | 24 | 22 | 20 | 19 | 29 | 47 | 85 | 111 | 113 | |
Interest | 38 | 32 | 26 | 20 | 16 | 14 | 12 | 13 | 11 | 19 | 30 | 34 | 35 |
Depreciation | 101 | 96 | 93 | 90 | 90 | 94 | 103 | 103 | 102 | 95 | 108 | 120 | 122 |
Profit before tax | 101 | 79 | 131 | 171 | 211 | 209 | 86 | 120 | 220 | 393 | 589 | 682 | 711 |
Tax % | 31% | 28% | 30% | 31% | 34% | 34% | 15% | 26% | 26% | 25% | 26% | 24% | |
70 | 57 | 92 | 118 | 139 | 138 | 73 | 89 | 164 | 294 | 439 | 516 | 533 | |
EPS in Rs | 15.58 | 12.82 | 20.50 | 26.42 | 31.07 | 30.97 | 16.34 | 19.85 | 37.18 | 66.70 | 100.47 | 115.02 | 119.15 |
Dividend Payout % | 11% | 14% | 10% | 13% | 16% | 16% | 18% | 15% | 13% | 11% | 10% | 9% |
Compounded Sales Growth | |
---|---|
10 Years: | 11% |
5 Years: | 17% |
3 Years: | 20% |
TTM: | 15% |
Compounded Profit Growth | |
---|---|
10 Years: | 24% |
5 Years: | 48% |
3 Years: | 46% |
TTM: | 15% |
Stock Price CAGR | |
---|---|
10 Years: | % |
5 Years: | 61% |
3 Years: | 91% |
1 Year: | 33% |
Return on Equity | |
---|---|
10 Years: | 17% |
5 Years: | 20% |
3 Years: | 23% |
Last Year: | 23% |
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
Equity Capital | 22 | 22 | 22 | 22 | 22 | 22 | 22 | 22 | 22 | 22 | 44 | 44 |
Reserves | 538 | 585 | 673 | 772 | 891 | 1,004 | 1,048 | 1,126 | 1,233 | 1,505 | 1,882 | 2,350 |
381 | 310 | 289 | 226 | 179 | 97 | 135 | 146 | 157 | 333 | 487 | 508 | |
253 | 272 | 308 | 334 | 398 | 445 | 352 | 409 | 438 | 551 | 723 | 821 | |
Total Liabilities | 1,194 | 1,189 | 1,292 | 1,354 | 1,491 | 1,568 | 1,558 | 1,704 | 1,850 | 2,412 | 3,136 | 3,723 |
713 | 667 | 597 | 577 | 555 | 613 | 741 | 703 | 689 | 772 | 934 | 1,203 | |
CWIP | 9 | 4 | 6 | 9 | 11 | 17 | 19 | 8 | 6 | 5 | 31 | 58 |
Investments | 0 | 0 | 18 | 8 | 20 | 6 | 61 | 34 | 32 | 72 | 115 | 36 |
472 | 518 | 672 | 760 | 904 | 934 | 737 | 959 | 1,124 | 1,563 | 2,056 | 2,425 | |
Total Assets | 1,194 | 1,189 | 1,292 | 1,354 | 1,491 | 1,568 | 1,558 | 1,704 | 1,850 | 2,412 | 3,136 | 3,723 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
180 | 129 | 255 | 183 | 175 | 157 | 297 | 190 | 219 | 395 | 487 | 434 | |
-65 | -45 | -67 | -55 | -65 | -157 | -214 | -10 | -56 | -476 | -422 | -385 | |
-101 | -111 | -113 | -89 | -88 | -61 | -111 | -28 | -91 | 93 | -42 | -61 | |
Net Cash Flow | 14 | -27 | 75 | 39 | 21 | -62 | -28 | 152 | 72 | 12 | 23 | -11 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
Debtor Days | 56 | 63 | 58 | 59 | 68 | 66 | 54 | 74 | 63 | 55 | 56 | 60 |
Inventory Days | 197 | 196 | 175 | 213 | 190 | 184 | 182 | 175 | 155 | 113 | 114 | 116 |
Days Payable | 149 | 129 | 157 | 185 | 178 | 144 | 144 | 184 | 142 | 97 | 104 | 101 |
Cash Conversion Cycle | 104 | 130 | 75 | 87 | 80 | 107 | 92 | 65 | 75 | 71 | 66 | 75 |
Working Capital Days | 33 | 44 | 36 | 38 | 41 | 64 | 44 | 44 | 44 | 27 | 21 | 29 |
ROCE % | 15% | 12% | 16% | 19% | 21% | 20% | 8% | 11% | 17% | 24% | 28% | 26% |
Documents
Announcements
- Closure of Trading Window 30 Sep
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Intimation Regarding Report Received From Registrar And Share Transfer Agent On Re-Lodgement Of Transfer Requests Of Physical Shares
25 Sep - RTA report dated Sept 23, 2025 on re-lodged physical share transfers (Jul 7–Sep 6); circular dissemination and newspaper notices.
- Announcement under Regulation 30 (LODR)-Newspaper Publication 25 Sep
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Status Update Regarding Further Acquisition Of Equity Stake By SPR Engenious Limited (SEL) (Wholly Owned Subsidiary Of SPRL) In Its Subsidiary I.E. SPR EMF Innovations Private Limited (SPR EMFI)
11 Sep - SEL now holds 1,55,71,507 shares (72.58%) in SPR EMFI as of Sept 11, 2025.
- Newspaper Publication Regarding Special Window For Re-Lodgement Of Transfer Requests Of Physical Shares And '100-Days Campaign - Saksham Niveshak' 22 Aug
Annual reports
Concalls
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Aug 2025Transcript PPT
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May 2025Transcript PPT REC
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Mar 2025TranscriptPPTREC
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Dec 2024TranscriptPPTREC
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Nov 2024Transcript PPT
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Oct 2024TranscriptNotesPPT
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Aug 2024Transcript PPT
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May 2024Transcript PPT
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Apr 2024TranscriptPPTREC
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Apr 2024Transcript PPT
Business Overview
The company is a leading Indian manufacturer of pistons, piston pins, piston rings, and engine valves. It supplies to top OEMs and aftermarket clients in India and overseas under the SPR and USHA brands. [1]
GRevenue Mix
Original Equipment Manufacturers (OEMs): 52% in FY25 vs 51% in FY23
Aftermarket: 26% in FY25 vs 26% in FY23
Exports: 17% in FY25 vs 20% in FY23
Non-Automotive Applications: 5% in FY25 vs 3% in FY23 [1] [2]