Spr Auto Technologies Ltd · NSE:SHRIPISTON
Spr Auto Technologies — Shriram Pistons & Rings — Q2 & H1 FY26 Earnings Presentation
55 slides from Spr Auto Technologies's earnings presentation, Nov 4, 2025
Slide 1: Exchange filing cover letter for investor presentation
November 4, 2025 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 Q2 & H1 FY26
Investor Presentation Q2 & H1 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 Q2 & H1FY26 Performance Company Targeted Strategic Industry Highlights Overview Initiatives Overview 05 06 07 Historical Performance Focus on Annexures Highlights Sustainability
Slide 5: Q2 & H1 FY26 Performance Highlights
1 Q2 & H1 FY26 Performance Highlights
Slide 6: H1FY26 Key Financial Metrics
H1FY26 Key Financial Metrics (Rs. Million) Total Income EBITDA * & EBITDA Margin (%) PAT & PAT Margin (%) 22.6% 22.5% 13.7% 13.6% Consolidated +15% YoY H1FY25 +14% YoY +14% YoY 20,344 4,570 H1FY26 17,703 4,001 2,770 2,430 Total Income EBITDA * & EBITDA Margin (%) PAT & PAT Margin (%) 23.4% 23.3% 14.
Slide 7: Q2FY26 Key Financial Metrics
Q2FY26 Key Financial Metrics (Rs. Million) Total Income EBITDA * & EBITDA Margin (%) PAT & PAT Margin (%) 23.0% 22.4% 13.9% 13.6% Consolidated +15% YoY Q2FY25 10,427 +12% YoY 9,069 +13% YoY 2,335 Q2FY26 2,083 1,421 1,259 Total Income EBITDA * & EBITDA Margin (%) PAT & PAT Margin (%) 23.8% 23.2% 15.1
Slide 8: Q2 & H1FY26 P&L Statement – SPR Consolidated
Q2 & H1FY26 P&L Statement – SPR Consolidated (Rs. Million) Particulars Q2FY26 Q2FY25 YoY H1FY26 H1FY25 YoY Revenue from Operations 10,165 8,765 19,798 17,136 Other Income 261 304 546 567 Total Income 10,427 9,069 15.0% 20,344 17,703 14.9% Total Operating Expenses 8,091 6,986 15,774 13.702 EBITDA* 2,
Slide 9: Q2 & H1FY26 P&L Statement – SPR Standalone
Q2 & H1FY26 P&L Statement – SPR Standalone (Rs. Million) Particulars Q2FY26 Q2FY25 YoY H1FY26 H1FY25 YoY Revenue from Operations 8,730 7,940 17,086 15,552 Other Income 249 290 515 533 Total Income 8,979 8,230 9.1% 17,601 16,085 9.4% Total Operating Expenses 6,898 6,272 13,497 12.320 EBITDA* 2,080 1,
Slide 10: H1 Trend over the years
H1 Trend over the years (Rs. Million) Total Income EBITDA & EBITDA Margin (%) PAT & PAT Margin (%) H1FY26 vs H1FY25 9% 9% 10% Growth : 15.0% 17.6% 23.1% 23.4% 23.3% 7.7% 9.9% 14.5% 14.9% 15.0% 17,601 16,085 15,050 12,910 9,789 4,104 3,472 3,765 2,389 2,637 2,270 2,181 1,469 1,276 467 H1FY22 H1FY23 H
Slide 11: SPRL Consistently Outgrowing the Industry
SPRL Consistently Outgrowing the Industry Industry * SPRL H1FY26 v/s Production Domestic Sales Standalone Consolidated H1FY25 Volumes Volumes Total Income Total Income + 6.1% 1.3% + 9.4% + 14.9% YoY YoY YoY YoY 17.2 Million 13.7 Million Rs. 17,601 Rs. 20,344 Units Units Million Million * Source: SIA
Slide 12: Company Overview
2 Company Overview
Slide 13: 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 14: 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 15: Our Journey of Achieving Excellence over 5+ Decades
Our Journey of Achieving Excellence over 5+ Decades 1972 1978 1989 1993 1993 Dr. Charat Ram, a leading Industrialist took over Shama Pistons & Rings Ltd. Technology tie-up with Technology tie-up with Technology tie-up with Fuji Engine Valves and renamed it to Shriram Pistons & Riken Corporation, Jap
Slide 16: State-of-the-art Manufacturing Infrastructure
State-of-the-art Manufacturing Infrastructure Under SPRL Under SEL Karna SPR SPR SPR SPR Intertech Engenious EMFi Takahata TGPEL Noida, Ghaziabad, Pathredi, Bulandshahr Rd, Bahadurgarh, Pithampur, Coimbatore, Neemrana, Uttar Pradesh Uttar Pradesh Rajasthan Uttar Pradesh Haryana Madhya Pradesh Tamil
Slide 17: 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 18: The Visionary Leaders Who Drive SPRL
The Visionary Leaders Who Drive SPRL Mr. Krishnakumar Mr. Sandeep Agrawal Mr. Rajan Nanda Mr. Prem Rathi Mr. Arun Shukla Srinivasan Executive Director & Executive Director Executive Executive Director Managing Director & CMO Director & CFO – Projects CEO ▪ 27+ Years of ▪ 38+ Years of ▪ 34+ Years of
Slide 19: 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) Karna Intertech Private Limited SPR Engenious Limited (SEL) Karna is a key supplier of gravity die casting moulds to SPRL, which are utilised in the
Slide 20: Focusing on Strategic Diversification
Focusing on Strategic Diversification FY21 Consolidated Total Income FY25 Consolidated Total Income Rs. 16,160 Million Rs. 36,612 Million Aftermarket Aftermarket Export ICE ICE Export High-Precision Plastic Engineering Motors & Controllers for Tooling EV Diverse presence across ICE powertrains inclu
Slide 21: 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 22: 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 23: 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 24: Diversified Across Industry Segments
Diversified Across Industry Segments 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 Maharashtra Hosur, Tamil Nadu
Slide 25: Diversified Product Portfolio
Diversified Product Portfolio Core / Legacy Products High-Precision Injection Moulded Components Pistons & Piston Pins Takahata FI – Components Throttle Unit Brake Unit ECU Air Bag FI – Connectors Thin walled KS Lite Crown Nanofriks DLC coating Anodizing on pins Door Locks Steering TGPEL Piston Ring
Slide 26: Diversified Across Customer Segments
Diversified Across Customer Segments Core / Legacy Products High-Precision Injection Moulded Components Automotive Takahata Commercial Vehicles Passenger Vehicles Two-Wheelers Tractors TGPEL Non-Automotive Off-Highway, Industrial & Gensets Marine Railways & Defense 25
Slide 27: Driving Innovation by harnessing Technology and R&D
3B Driving Innovation by harnessing Technology and R&D
Slide 28: 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 29: 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 30: Time-Tested Technology Partnerships with Major Global Players
Time-Tested Technology Partnerships with Major Global Players Since 1972 Since 1978 Since 1989 Since 1993 Since 2023 HIGH-PRECISION PISTONS RINGS PISTONS ENGINE VALVES INJECTION MOULDED COMPONENTS Kolbenschmidt, Germany Riken Corporation, Japan Honda Foundry, Japan FUJI OOZX Fuji Oozx, Japan Takahat
Slide 31: Internal Combustion (IC) 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 32: Accelerating Growth through Strategic Acquisitions
3C Accelerating Growth through Strategic Acquisitions
Slide 33: Foray into ICE Agnostic Products (1/2)
Foray into ICE Agnostic Products (1/2) 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 34: Foray into ICE Agnostic Products (2/2)
Foray into ICE Agnostic Products (2/2) Electric Motors & Controllers Gravity Die Casting Moulds 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. L
Slide 35: Committed to Efficiency & Operational Excellence
3D Committed to Efficiency & Operational Excellence
Slide 36: 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 37: Industry Overview
4 Industry Overview
Slide 38: 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 39: 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 slowing down strategy towards EV and moving towards Hybrid, which requires ICE engines and enabl
Slide 40: 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 41: Annual Financials
5 Annual Financials
Slide 42: 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 43: 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 44: 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 45: 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 46: Abridged Cashflow Statement
Abridged Cashflow Statement (Rs. Million) Cash Flow Statement FY25 H1FY26 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 47: Focus on Sustainability
6 Focus on Sustainability
Slide 48: 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 49: 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 50: Prestigious Recognitions for Sustainability Efforts
Prestigious Recognitions for Sustainability Efforts Verification of Green 2024 - Climate & Water ESG Rating -2 ESG Gold Award – Excellence in Safety Significant House Gas disclosure awarded (Highest rating in 2024 Gold Award – 2024 achievement in Emissions as per ISO rating “C” India) by ACMA by ACM
Slide 51: Annexures
7 Annexures
Slide 52: 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 53: Delivering Value to the Shareholders
Delivering Value to the Shareholders Shareholding as on 30th September 2025 Share Information as on 30th September 2025 NSE Ticker SHRIPISTON Promoters 13.5% Shares Outstanding (Million) 44.0 DII Market Cap (Rs. Million) 1,187,35 43.8% 23.5% FII % Free Float 56.25% Free Float Market Cap (Rs. Million
Slide 54: Committed to Giving Back to the Society
Committed to Giving Back to the Society Govt. Girls Sr. Sec. School, Tijara Adop. of Village Kunheda, Ghaziabad Awards from Rajasthan Govt. Annual CSR Spend (Rs Million) 81.07 Before After Education Environment Health & Education 51.96 Mobile Medical Van, Pathredi Dispensary in Tapukara Dispensary I
Slide 55: 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 — Q2 & H1 FY26 Earnings Presentation on 6ix