SPR Auto Technologies 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 ₹ 19,675 Cr.
- Current Price ₹ 4,241
- High / Low ₹ 4,843 / 2,526
- Stock P/E 32.7
- Book Value ₹ 901
- Dividend Yield 0.24 %
- ROCE 20.8 %
- ROE 21.4 %
- Face Value ₹ 10.0
Pros
- Company is expected to give good quarter
- Company has delivered good profit growth of 45.1% CAGR over last 5 years
Cons
- Promoter holding has decreased over last quarter: -2.20%
* 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 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1,244 | 1,393 | 1,463 | 1,729 | 1,955 | 1,607 | 1,597 | 2,065 | 2,609 | 3,089 | 3,550 | 4,459 | 5,602 | |
| 1,054 | 1,161 | 1,207 | 1,436 | 1,660 | 1,425 | 1,381 | 1,760 | 2,149 | 2,447 | 2,826 | 3,583 | 4,596 | |
| Operating Profit | 190 | 232 | 255 | 293 | 295 | 182 | 216 | 304 | 460 | 642 | 724 | 876 | 1,006 |
| OPM % | 15% | 17% | 17% | 17% | 15% | 11% | 14% | 15% | 18% | 21% | 20% | 20% | 18% |
| 17 | 18 | 26 | 24 | 22 | 20 | 19 | 29 | 47 | 85 | 111 | 85 | 82 | |
| Interest | 32 | 26 | 20 | 16 | 14 | 12 | 13 | 11 | 19 | 30 | 34 | 62 | 111 |
| Depreciation | 96 | 93 | 90 | 90 | 94 | 103 | 103 | 102 | 95 | 108 | 120 | 149 | 193 |
| Profit before tax | 79 | 131 | 171 | 211 | 209 | 86 | 120 | 220 | 393 | 589 | 682 | 751 | 784 |
| Tax % | 28% | 30% | 31% | 34% | 34% | 15% | 26% | 26% | 25% | 26% | 24% | 25% | |
| 57 | 92 | 118 | 139 | 138 | 73 | 89 | 164 | 294 | 439 | 516 | 561 | 595 | |
| EPS in Rs | 12.82 | 20.50 | 26.42 | 31.07 | 30.97 | 16.34 | 19.85 | 37.18 | 66.70 | 100.47 | 115.02 | 125.43 | 130.35 |
| Dividend Payout % | 14% | 10% | 13% | 16% | 16% | 18% | 15% | 13% | 11% | 10% | 9% | 8% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | 12% |
| 5 Years: | 23% |
| 3 Years: | 20% |
| TTM: | 47% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | 20% |
| 5 Years: | 45% |
| 3 Years: | 25% |
| TTM: | 11% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | 57% |
| 3 Years: | 62% |
| 1 Year: | 62% |
| Return on Equity | |
|---|---|
| 10 Years: | 18% |
| 5 Years: | 21% |
| 3 Years: | 23% |
| Last Year: | 21% |
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | Sep 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 22 | 22 | 22 | 22 | 22 | 22 | 22 | 22 | 22 | 44 | 44 | 44 | 46 |
| Reserves | 585 | 673 | 772 | 891 | 1,004 | 1,048 | 1,126 | 1,233 | 1,505 | 1,882 | 2,350 | 2,857 | 4,132 |
| 310 | 289 | 226 | 179 | 97 | 135 | 146 | 157 | 333 | 487 | 508 | 1,968 | 1,353 | |
| 272 | 308 | 334 | 398 | 445 | 352 | 409 | 438 | 512 | 723 | 821 | 1,273 | 1,304 | |
| Total Liabilities | 1,189 | 1,292 | 1,354 | 1,491 | 1,568 | 1,558 | 1,704 | 1,850 | 2,373 | 3,136 | 3,723 | 6,142 | 6,836 |
| 667 | 597 | 577 | 555 | 613 | 741 | 703 | 689 | 733 | 934 | 1,203 | 2,976 | 3,018 | |
| CWIP | 4 | 6 | 9 | 11 | 17 | 19 | 8 | 6 | 5 | 31 | 58 | 96 | 51 |
| Investments | 0 | 18 | 8 | 20 | 6 | 61 | 34 | 32 | 72 | 115 | 36 | 135 | 172 |
| 518 | 672 | 760 | 904 | 934 | 737 | 959 | 1,124 | 1,563 | 2,056 | 2,425 | 2,935 | 3,594 | |
| Total Assets | 1,189 | 1,292 | 1,354 | 1,491 | 1,568 | 1,558 | 1,704 | 1,850 | 2,373 | 3,136 | 3,723 | 6,142 | 6,836 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 129 | 255 | 183 | 175 | 157 | 297 | 190 | 219 | 395 | 487 | 434 | 625 | |
| -45 | -67 | -55 | -65 | -157 | -214 | -10 | -56 | -209 | -422 | -385 | -1,815 | |
| -111 | -113 | -89 | -88 | -61 | -111 | -28 | -91 | 53 | -42 | -61 | 1,252 | |
| Net Cash Flow | -27 | 75 | 39 | 21 | -62 | -28 | 152 | 72 | 240 | 23 | -11 | 63 |
| Free Cash Flow | 85 | 205 | 111 | 104 | -18 | 126 | 145 | 158 | 273 | 340 | 266 | 437 |
| CFO/EBITDA Share of operating profit converting into cash: CFO (before tax) / Operating Profit | 81% | 128% | 92% | 84% | 76% | 182% | 99% | 91% | 108% | 100% | 83% | 91% |
Ratios
Consolidated / View Standalone
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 63 | 58 | 59 | 68 | 66 | 54 | 74 | 63 | 55 | 56 | 60 | 68 |
| Inventory Days | 196 | 175 | 213 | 190 | 184 | 182 | 175 | 155 | 113 | 114 | 116 | 111 |
| Days Payable | 129 | 157 | 185 | 178 | 144 | 144 | 184 | 142 | 115 | 104 | 101 | 121 |
| Cash Conversion Cycle | 130 | 75 | 87 | 80 | 107 | 92 | 65 | 75 | 53 | 66 | 75 | 58 |
| Working Capital Days | 44 | 36 | 38 | 41 | 64 | 44 | 44 | 44 | 27 | 21 | 29 | 1 |
| ROCE % | 12% | 16% | 19% | 21% | 20% | 8% | 11% | 17% | 25% | 28% | 26% | 21% |
Insights
In beta| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|
| Number of Manufacturing Plants (Group-wide) count |
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| Permanent Employees (Standalone) count ・Standalone data |
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| Capacity Utilization % |
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| Core Business Market Share in Domestic OEM (Pistons / Piston Assembly / Engine Valves) % |
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| EMFI Market Share in 2W EV Motors & Controllers % |
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Extracted by Screener AI
Documents
Announcements
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Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Outcome
- Q2 & H1 FY27 earnings call audio recording made available on company website.
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Announcement under Regulation 30 (LODR)-Newspaper Publication
- Unaudited Financial Results for the Q2 H1 FY 2027
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Announcement under Regulation 30 (LODR)-Press Release / Media Release
- SPR Auto Technologies reported Q2 FY27 results and completed a Rs 10,000 million QIP.
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Announcement under Regulation 30 (LODR)-Monitoring Agency Report
- Monitoring Agency Report for QIP proceeds for quarter ended September 30, 2026 reviewed by board.
- Announcement under Regulation 30 (LODR)-Investor Presentation
Annual reports
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Annual Report 2026
from bse
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Annual Report 2025
from bse
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Annual Report 2024
from nse
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Annual Report 2023
from nse
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Annual Report 2022
from nse
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Annual Report 2021
from nse
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Annual Report 2020
from nse
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Annual Report 2019
from nse
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Annual Report 2018
from nse
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Annual Report 2017
from nse
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Annual Report 2016
from nse
Concalls
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Nov 2026PPT REC
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Aug 2026Transcript PPT REC
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Jun 2026PPT
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May 2026Transcript PPT
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Feb 2026Transcript PPT
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Nov 2025Transcript PPT REC
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Aug 2025Transcript PPT
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May 2025Transcript PPT REC
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Mar 2025Transcript REC
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Dec 2024Transcript REC
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Nov 2024Transcript PPT
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Oct 2024PPT
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Aug 2024Transcript PPT
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May 2024Transcript PPT
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Apr 2024Transcript REC
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Apr 2024Transcript PPT
Products Verticals:
a) Core / Legacy ICE Components (Stanalone):[1]
The company manufactures a wide range of pistons, piston pins, piston rings, and engine valves, incorporating advanced technologies such as thin-walled DLC coating on piston pins, crown anodizing, Nanofriks KS Lite technology, chrome plating, Tufftriding (nitrocarburizing), multiple valve head profiles, Stellite seat engine valves, and 16 groove profile piston rings.
b) High-Precision Injection Moulded Components (SPR Takahata Precision India Pvt. Ltd & SPR TGPEL Precision Engineering Ltd):[1] [2]
The co. manufactures precision injection moulded parts, including
FI components, throttle units, brake units, ECUs, airbag parts, FI connectors, door locks, steering components, speaker grills, air
vents, manifolds, electrical parts, industrial parts, and medical
parts.
c) Automotive Interior & Lighting Solutions:[3]
The company has acquired 3 entities from the Antolin Group
in Jan 2026, to manufacture headliner substrates, modular
headliners, sun visors, door panels, central floor consoles,
pillar trims, ambient lighting, etc.
d) EV Motors and Controllers (SPR EMF Innovations Pvt. Ltd):[4][5]
The company manufactures EV motors and motor controllers, including brushless DC (BLDC) motors and motor controllers with power capacities ranging from 2 kW to 250 kW.