Spr Auto Technologies Ltd · NSE:SHRIPISTON
Spr Auto Technologies — Shriram Pistons & Rings — Q3 FY26 Earnings Presentation
61 slides from Spr Auto Technologies's earnings presentation, Feb 2, 2026
Slide 1: Exchange filing cover letter
February 2, 2026 National Stock Exchange of India Limited BSE Limited Exchange Plaza, 5th Floor, Phiroze Jeejeebhoy Towers, Plot No.C/1, G Block Dalal Street, Fort, Bandra-Kurla Complex Mumbai 400001 Bandra (East), Mumbai 400051 NSE Symbol : SHRIPISTON BSE Scrip code : 544344 Subject: Investor Prese
Slide 2: Investor Presentation Q3 & 9M FY26
Investor Presentation Q3 & 9M FY26 NSE : SHRIPISTON | BSE: 544344 https://shrirampistons.com/ Our Brands SPR Sustainable Progressive Resilient Companies in Group
Slide 3: Safe Harbor
Safe Harbor This Presentation and the accompanying slides (the “presentation”), have been prepared by Shriram Pistons & Rings Limited (the “Company”), solely for information purposes and do not constitute any offer, recommendation or invitation to purchase or subscribe for any securities, and shall
Slide 4: Contents
Contents 01 02 03 04 Q3 & 9MFY26 Performance Company Targeted Strategic Industry Highlights Overview Initiatives Overview 05 06 07 Historical Performance Focus on Annexures Highlights Sustainability
Slide 5: Q3 & 9M FY26 Performance Highlights
1 Q3 & 9M FY26 Performance Highlights
Slide 6: 9MFY26 Key Financial Metrics
9MFY26 Key Financial Metrics (Rs. Million) Total Income EBITDA & EBITDA Margin (%) * PBT & PBT Margin (%) # PAT & PAT Margin (%) ^ 22.6% 22.5% 18.2% 18.4% 13.8% 13.0% +17% YoY Consolidated 30,905 +16% YoY +19% YoY +11% YoY 9MFY25 26,455 6,957 5,696 9MFY26 5,980 4,025 4,806 3,640 ^ Non-recurring expe
Slide 7: Q3FY26 Key Financial Metrics
Q3FY26 Key Financial Metrics (Rs. Million) # Total Income EBITDA & EBITDA Margin (%) * PBT & PBT Margin (%) PAT & PAT Margin (%) ^ 22.6% 22.6% 18.2% 18.4% 13.8% 11.9% +17% YoY Consolidated 10,563 +21% YoY 2,389 +22% YoY +4% YoY Q3FY25 8,751 1,944 1,978 Q3FY26 1,209 1,257 1,590 ^ Non-recurring expens
Slide 8: Q3 & 9MFY26 P&L Statement – SPR Consolidated
Q3 & 9MFY26 P&L Statement – SPR Consolidated (Rs. Million) Particulars Q3FY26 Q3FY25 YoY 9MFY26 9MFY25 YoY Revenue from Operations 10,232 8,479 30,029 25,615 Other Income 331 272 876 840 Total Income 10,563 8,751 20.7% 30,905 26,454 16.8% Total Operating Expenses 8,174 6,773 23,948 20,475 EBITDA* 2,
Slide 9: Q3 & 9MFY26 P&L Statement – SPR Standalone
Q3 & 9MFY26 P&L Statement – SPR Standalone (Rs. Million) Particulars Q3FY26 Q3FY25 YoY 9MFY26 9MFY25 YoY Revenue from Operations 8,651 7,696 25,737 23,247 Other Income 309 260 824 793 Total Income 8,960 7,956 12.6% 26,561 24,041 10.5% Total Operating Expenses 6,867 6,067 20,362 18,387 EBITDA* 2,093
Slide 10: 9M Trend over the years – SPR Consolidated
9M Trend over the years – SPR Consolidated (Rs. Million) Total Income EBITDA & EBITDA Margin (%) PBT & PBT Margin (%) ^ 9MFY26 vs 9MFY25 17% 16% 19% Growth : 16.0% 18.3% 22.9% 22.6% 22.5% 10.2% 14.0% 18.8% 18.2% 18.4% 30,905 6,957 26,455 22,951 5,980 5,696 5,264 19,387 4,806 4,312 14,964 3,557 2,718
Slide 11: 9M Trend over the years – SPR Standalone
9M Trend over the years – SPR Standalone (Rs. Million) Total Income EBITDA & EBITDA Margin (%) PBT & PBT Margin (%) ^ 9MFY26 vs 9MFY25 11% 10% 10% Growth : 14.7% 18.4% 23.3% 23.5% 23.3% 8.9% 14.1% 19.6% 20.1% 20.0% 26,561 24,041 22,321 6,199 19,385 5,654 5,208 5,320 4,822 14,964 4,372 3,563 2,724 2,
Slide 12: SPRL Consistently Outgrowing the Industry
SPRL Consistently Outgrowing the Industry Industry * SPRL Q3FY26 v/s Production Domestic Sales Consolidated Q3FY25 Volumes Volumes Total Income + 16.8% +17.8% + 20.7% YoY YoY YoY 9.1 Million 7.8 Million Rs. 10,563 Units Units Million After the implementation of GST 2.0, there has been a significant
Slide 13: Foray into Automotive Interior Solutions
Foray into Automotive Interior Solutions SPRL successfully signed and closed the acquisition of 100% stake in Antolin Lighting India Pvt. Ltd., Grupo Antolin India Pvt. Ltd., and Grupo Antolin Chakan Pvt. Ltd., the leading suppliers of Automotive Interior & Lighting Solutions in India 12
Slide 14: Acquisition Details
Acquisition Details About the Acquisition About the Business On 5th December 2025, SPRL entered into a definitive Products include headliner substrates, modular headliners, agreement to acquire 100% shareholding in : sunvisors, door panels, central floor consoles, pillar trim, • Antolin Lighting Ind
Slide 15: Grupo Antolin Product Range & Clientele
Grupo Antolin Product Range & Clientele Door Trims Electronics /Touch Components Floor Consoles Sun Visors Head Liners Major Clientele 14
Slide 16: Company Overview
2 Company Overview
Slide 17: Shriram Pistons & Rings at a Glance
Shriram Pistons & Rings at a Glance Proven Industry Leader Global Network More than 5 decades of Industry presence Presence in 45+ countries across 5 backed by strong leadership continents Leading manufacturer of pistons, piston pins, Preferred choice of global automotive piston rings & engine valve
Slide 18: Heritage of the Shriram Group, a Leading Industrial Powerhouse
Heritage of the Shriram Group, a Leading Industrial Powerhouse Founded by Dr. Charat Ram, a pillar, visionary and the face of the Indian business sector, who played a significant role in shaping the Indian industry Driven by his relentless pursuit of excellence, he meticulously built up several succ
Slide 19: Our Journey of Achieving Excellence over 5+ Decades
Our Journey of Achieving Excellence over 5+ Decades 1972 1978 1989 1993 1993 2008 Dr. Charat Ram, a leading Industrialist R&D centre recognized by Dept. took over Shama Pistons & Rings Ltd. Technology tie-up with Fuji Engine Valves of Scientific & Industrial Technology tie-up with Technology tie-up
Slide 20: State-of-the-art Manufacturing Infrastructure
State-of-the-art Manufacturing Infrastructure Under SPRL Under SEL Karna SPR SPR SPR Grupo Antolin India SEL Intertech EMFi Takahata TGPEL Ghaziabad, Pathredi, Bulandshahr Rd, Bahadurgarh, Chakan & Pune, Chennai, Pithampur, Coimbatore, Neemrana, Noida, Uttar Pradesh Rajasthan Uttar Pradesh Haryana M
Slide 21: Seasoned Board Of Directors Providing Expert Oversight
Seasoned Board Of Directors Providing Expert Oversight Mr. Pradeep Dinodia Mr. Hari S. Bhartia Ms. Ferida Chopra Ms. Meenakshi Chairman Independent Director Independent Director Dass (Non-Executive Non- Non-Executive Independent Director) Director ▪ On the board since 2003 ▪ On the board since 2009
Slide 22: The Visionary Leaders Who Drive SPRL
The Visionary Leaders Who Drive SPRL Mr. Krishnakumar Mr. Sandeep Agrawal Mr. Prem Rathi Mr. Arun Shukla Srinivasan Executive Director & Executive Director & CFO Executive Director – Projects Managing Director & CEO CMO ▪ 38+ Years of experience ▪ 38+ Years of experience ▪ 27+ Years of experience ▪
Slide 23: The SPRL Group
The SPRL Group Products are marketed to almost all OEMs and Aftermarkets under brands SPR and USHA (100% Subsidiary of SPRL) (100% Subsidiary of SPRL) (100% Subsidiary of SPRL) (100% Subsidiary of SPRL) Karna Intertech Private Limited Antolin Lighting India Private Limited Grupo Antolin India Privat
Slide 24: Focusing on Strategic Diversification
Focusing on Strategic Diversification Diversification Strategy leading to Change in Business Mix Aftermarket Aftermarket ICE ICE Aftermarket ICE Export Export Export High-Precision Plastic Engineering High-Precision Motors & Tooling Plastic Engineering Controllers Motors & Tooling for EV Controllers
Slide 25: All Segments expected to Grow
All Segments expected to Grow EV Penetration Delayed Start of EV Penetration Heavy Commercial Vehicles Railways Passenger 2-Wheelers Vehicles Exports Tractors & Off- Genset & Highway Industrials 3-Wheelers Also includes Aftermarkets and Defence Presence across diverse segments positions SPRL in a co
Slide 26: Targeted Strategic Initiatives
3 Targeted A Building a Robust Business through Diversification B Driving Innovation by harnessing Technology and R&D Strategic C D Initiatives Accelerating Committed to Growth through Efficiency & Strategic Operational Acquisitions Excellence
Slide 27: Building a Robust Business through Diversification
3A 01 02 03 Building a Robust Diversified Diversified Diversified Across Business through Across Industry Segments Product Portfolio Customer Segments Diversification
Slide 28: Diversified Across Industry Segments in Standalone Business
Diversified Across Industry Segments in Standalone Business Assembly Units located in: Domestic Revenue (Rs Million) Gurugram, 26,481 Haryana 5 23,901 20,758 Karsanpura, Assembly Units 16,224 12,918 Gujarat Bhorakalan (Gurugram), 1,200+ Pune, Haryana Business Partners FY21 FY22 FY23 FY24 FY25 Mahara
Slide 29: Diversified Product Portfolio
Diversified Product Portfolio Core / Legacy Products High-Precision Injection Moulded Components Pistons & Piston Pins FI – Components Throttle Unit Brake Unit ECU Air Bag FI – Connectors Thin walled KS Lite Crown Nanofriks DLC coating Anodizing on pins Piston Rings Engine Valves ▪ Chrome plating Do
Slide 30: Diversified Across Customer Segments
Diversified Across Customer Segments Core / Legacy Products High-Precision Injection Moulded Components Automotive Takahata Commercial Vehicles Passenger Vehicles TGPEL Two-Wheelers Tractors Non-Automotive Automotive Interior Solutions Off-Highway, Industrial & Gensets Marine Railways & Defense Grup
Slide 31: Driving Innovation by harnessing Technology and R&D
3B Driving Innovation by harnessing Technology and R&D
Slide 32: Driving Innovation Through Our Ultra Modern Tech Centre
Driving Innovation Through Our Ultra Modern Tech Centre SPRL Tech Centre is fully equipped to provide complete and comprehensive solutions, catering to the exacting needs of the hi-tech, new generation engines With a state-of-the-art Technology Centre, Recognized by Department of the Company has rei
Slide 33: Empowering Next-Gen Mobility Solutions
Empowering Next-Gen Mobility Solutions Focussed on developing components for Alternate Fuel Solutions for ICE, with a vision to service the last ICE engine globally Advanced CNG-compatible components, meeting stringent emission norms and ensuring durability in Hybrid Hydrogen high-pressure environme
Slide 34: Time-Tested Technology Partnerships with Major Global Players
Time-Tested Technology Partnerships with Major Global Players Since 1972 Since 1978 Since 1993 Since 2023 Since 2026 Since 1989 HIGH-PRECISION AUTOMOTIVE INTERIOR PISTONS RINGS PISTONS ENGINE VALVES INJECTION MOULDED SOLUTIONS COMPONENTS Riken Corporation, Japan Honda Foundry, Japan FUJI OOZX Fuji O
Slide 35: Internal Combustion Engines: Growth Story will continue
Internal Combustion (IC) Engines : Growth Story will continue Insufficient Power Grid capabilities to India is not comparable to the West & Lack of EV charging Infrastructure in Absence of Resale Market support India’s EV ambitions China the country ▪ According to a report by Brookings, in 2030, if
Slide 36: Accelerating Growth through Strategic Acquisitions
3C Accelerating Growth through Strategic Acquisitions
Slide 37: Foray into ICE Agnostic Products (1/3)
Foray into ICE Agnostic Products (1/3) High-Precision Injection Moulded Products SPR Takahata Precision India Pvt. Ltd. SPR TGPEL Precision Engineering Ltd. ▪ SPR Engenious Ltd. (SEL) acquired 62% stake in ▪ SPR Engenious Ltd. (SEL) acquired 100% stake in Transaction Details SPR Takahata Precision I
Slide 38: Foray into ICE Agnostic Products (2/3)
Foray into ICE Agnostic Products (2/3) Electric Motors & Controllers Moulds & Tooling SPR EMF Innovations Pvt. Ltd. Karna Intertech Pvt. Ltd. ▪ SPR Engenious Ltd. (SEL) increased their stake in SPR Transaction Details ▪ SPR acquired 100% stake in Karna Intertech Pvt. EMF Innovations Pvt. Ltd. (EMFi)
Slide 39: Foray into ICE Agnostic Products (3/3)
Foray into ICE Agnostic Products (3/3) Automotive Interior Solutions Antolin Lighting India Private Ltd Grupo Antolin India Private Ltd Grupo Antolin Chakan Private Ltd Transaction Details ▪ SPRL acquired 100% stake in ▪ SPRL acquired 100% stake in ▪ SPRL acquired 100% stake in Grupo Antolin Lightin
Slide 40: Committed to Efficiency & Operational Excellence
3D Committed to Efficiency & Operational Excellence
Slide 41: Committed to Efficiency & Operational Excellence
Committed to Efficiency & Operational Excellence Focusing on capital efficiency which was evident in significant strengthening of industry leading EBITDA margins from 14.5% in FY21 to 23.7% in FY25 Cost Optimization measures Affordable low-cost automation including Effective & Efficient and interlin
Slide 42: Industry Overview
4 Industry Overview
Slide 43: India's Growing Automobile Market
India’s Growing Automobile Market Automobile Domestic Production Volumes * Automobile Domestic Sales Volumes * (in Million) (in Million) FY24 FY25 32.0 FY24 FY25 29.4 26.6 24.8 23.9 21.5 19.6 18.0 4.9 5.1 1.1 1.0 4.2 4.3 1.0 1.0 1.0 1.1 1.0 1.0 1.0 1.0 0.7 0.7 Tractors CV 3W PV 2W Auto Tractors CV 3
Slide 44: Internal Combustion Engine Market
Internal Combustion Engine Market Global ICE Market Size * Indian ICE Market Size ^ (USD Billion) (USD Billion) 6.3% CAGR 7.6% CAGR 384.3 283.1 8.3 5.4 2025E 2030P 2025E 2030 • Most car manufacturers are moving towards Hybrid, which requires ICE engines and Motors & Controllers. ICE demand expected
Slide 45: Emerging EV Industry Landscape
Emerging EV Industry Landscape EV Penetration in India (%) & EV Sales (in Thousand)* Category-wise EV Penetration in FY25 (in %) * 143 459 1,183 1,662 1,952 57.3% 7.5% 6.8% 5.2% 2.5% 6.1% 7.8% 0.8% 0.9% 2.6% FY21 FY22 FY23 FY24 FY25 CV 3W PV 2W Auto Industry • EV market is growing rapidly, with ~2 m
Slide 46: New State-of-the-Art EV Plant started at Coimbatore
New State-of-the-Art EV Plant started at Coimbatore 45
Slide 47: Annual Financials
5 Annual Financials
Slide 48: Key Financial Metrics over the years
Key Financial Metrics over the years (Rs. Million) Total Income EBITDA & EBITDA Margin (%) PAT & PAT Margin (%) FY25 vs FY24 Growth : 8% 10% 11% 14.5% 15.9% 19.2% 23.4% 23.7% 5.5% 7.8% 11.1% 14.7% 15.2% 32,827 30,351 26,513 20,939 7,793 7,114 16,162 4,978 5,097 4,468 3,337 2,956 2,351 1,636 888 FY21
Slide 49: Key Ratios over the years
Key Ratios over the years Debt-to-Equity Ratio (x) Interest Coverage Ratio (x) 31.4 29.2 28.3 0.19 26.2 0.18 0.15 18.7 0.11 0.11 FY21 FY22 FY23 FY24 FY25 FY21 FY22 FY23 FY24 FY25 Net Working Capital Cycle (Days) ROE & ROCE (%) 71 68 65 ROE 58 29.2% 54 27.0% ROCE 23.8% 22.9% 19.3% 20.7% 16.9% 13.0% 1
Slide 50: P&L Statement
P&L Statement (Rs. Million) Particulars FY21 FY22 FY23 FY24 FY25 Revenue from Operations 15,966 20,647 26,050 29,537 31,795 Other Income 196 292 462 813 1,032 Total Income 16,162 20,939 26,513 30,351 32,827 Total Expenses 13,811 17,602 21,416 23,237 25,034 EBITDA 2,351 3,337 5,097 7,114 7,793 EBITDA
Slide 51: Balance Sheet
Balance Sheet (Rs. Million) Assets Mar-25 Sep-25 Equity & Liabilities Mar-25 Sep-25 Non-Current Assets Equity Share Capital 440 440 Property, Plant & Equipment 5,249 5,076 Other Equity 23,651 26,032 Capital Work in Progress 61 60 Total Equity 24,091 26,472 Goodwill & Other Intangible Assets 177 175
Slide 52: Abridged Cashflow Statement
Abridged Cashflow Statement (Rs. Million) Cash Flow Statement Mar-25 Sep-25 Cash Flow from Operating Activities Profit Before Tax 6,680 3,541 Adjustment for Depreciation & Other Operating Items 271 96 Operating Profit before Working Capital Changes 6,951 3,637 Changes in Working Capital (1,070) (339
Slide 53: Focus on Sustainability
6 Focus on Sustainability
Slide 54: Huge Focus on Sustainability (1/2)
Huge Focus on Sustainability (1/2) Environmental Social Governance ▪ Implemented ISO 14001 Environmental Management Systems at both manufacturing sites ▪ Utmost importance to the Health and Safety of ▪ Steering Committee on ESG under workers at the plant/factory chairmanship of our MD & CEO ▪ Three
Slide 55: Huge Focus on Sustainability (2/2)
Huge Focus on Sustainability (2/2) Environmental Social Governance Initiatives Initiatives Initiatives ▪ Voluntary disclosure of BRSR ▪ 20% Increase in mix of Renewable Energy ▪ Improvements in Attrition Rate ▪ Strong commitment of Board to good ▪ 30% Increase in use of Recycled Material ▪ #2 days t
Slide 56: Prestigious Recognitions for Sustainability Efforts
Prestigious Recognitions for Sustainability Efforts ESG Rating -2 Excellence in ESG Assurance of Green 2025 - Climate & Water 2025 – ECOVADIS Significant (Highest rating in Gold Award – 2025 House Gas disclosure awarded Bronze Medal achievement in India) by ACMA Emissions as per ISO rating “B” Corpo
Slide 57: Annexures
7 Annexures
Slide 58: Awards and Accolades
Awards and Accolades From Customers From Industry Bodies ▪ From Automotive Component Manufacturers Assn. Of ▪ Cummins India - honoured with the Supplier of the Year India (ACMA) Award – Direct Sourcing - at the Suppliers Conference 2025. – Gold Award in ESG & Safety Categories ▪ Maruti Suzuki - Supp
Slide 59: Delivering Value to the Shareholders
Delivering Value to the Shareholders Shareholding as on 31st December 2025 Share Information as on 31st December 2025 NSE Ticker SHRIPISTON Promoters Shares Outstanding (Million) 44.0 DII 34.2% Market Cap (Rs. Million) 1,42,717 43.8% FII % Free Float 56.25% Free Float Market Cap (Rs. Million) 80,188
Slide 60: Committed to Giving Back to the Society
Committed to Giving Back to the Society Govt. Girls Sr. Sec. School, Tijara Tree Plantation Drive Awards from Rajasthan Govt. Neemrana Annual CSR Spend (Rs Million) 81.07 Before After Education Environment Health & Education 51.96 Mobile Medical Van, Pathredi Dispensary in Tapukara Dispensary In Bhi
Slide 61: Thank You
Thank You Shriram Pistons & Rings Ltd. Ernst & Young LLP Prem Rathi Rohit Anand rohit.anand4@in.ey.com Executive Director & CFO Riddhant Kapur prem.rathi@shrirampistons.com riddhant.kapur@in.ey.com Pankaj Gupta Dy. Executive Director, Head Legal & Company Secretary pankaj.gupta@shrirampistons.com
Shriram Pistons & Rings — Q3 FY26 Earnings Presentation on 6ix