Shriram Pistons and Rings

What Shriram Pistons and Rings does

Shriram Pistons and Rings, now rebranded to SPR Auto Technologies Limited, is India's largest manufacturer and exporter of pistons, piston rings and engine valves, supplying Indian and international automotive OEMs across passenger vehicles, two/three-wheelers, commercial vehicles, tractors, locomotives and industrial engines. Founded in 1963 (originally as Shama Pistons and Rings) and taken over in 1972 by Dr. Charat Ram, the company is publicly listed on Indian exchanges under the ticker SHRIPISTON (formerly SPRL) and operates 8 manufacturing plants across Ghaziabad, Pathredi, Neemrana, Coimbatore, Pithampur, Noida and Bahadurgarh. Its core technology stack centres on a DSIR-recognised in-house Tech Centre that uses 3D finite element analysis, MAGMA casting simulation, RINGPACK ring dynamic simulation and a transient dynamometer engine-testing facility to enable BS-6 and future-emission-norm-compliant piston, ring and valve design.

The business model is enterprise OEM-direct: long-term negotiated supply contracts with customers including Tata Motors, Maruti Suzuki, Bajaj Auto, Cummins India, Ashok Leyland, VECV, Ford, Nissan, Suzuki, Mitsubishi Heavy Industries, Kirloskar and Swaraj Tractors, generating revenue almost entirely from hardware sales. Diversification has accelerated since 2022: SPR Engenious and EMF Innovations add electric motors and motor controllers from 250W to 300KW for EV applications; Takahata Precision and TGPEL add precision injection moulded parts and metal moulds into electrical, consumer goods and medical segments; the December 2025 acquisition of three Grupo Antolin Indian entities (₹1,670 crore) extends the portfolio into automotive lighting and interior components. Quarterly consolidated revenue reached ₹1,023.20 crore in Q3 FY26 (up 20.67% YoY) on a 20.39% operating margin, supported by ₹1,000 crore of NCD financing in early 2026 and an IND AA+ credit rating.

Name

Shriram Pistons and Rings

Legal name

SPR Auto Technologies Limited

Website

http://www.shrirampistons.com

Company type

Public

Founded year

1963

Operating status

Operating

Headcount range

5,001–10,000 employees

Short description

Shriram Pistons and Rings (rebranded SPR Auto Technologies Limited) is India's largest manufacturer and exporter of pistons, piston rings and engine valves, supplying Indian and international automotive OEMs across passenger vehicles, two/three-wheelers, commercial vehicles, tractors and industrial applications, with growing diversification into EV motors, precision moulded parts and automotive interiors.

Ownership category

akta.pro rank

Product category

Automotive Components Manufacturing

NAICS

Motor Vehicle Transmission and Power Train Parts Manufacturing (336350), Motor Vehicle Electrical and Electronic Equipment Manufacturing (336320)

SIC

Motor Vehicle Parts & Accessories (3714)

akta.pro primary industry

Engine Components & Subsystems Manufacturing (Blocks/Heads/Valvetrain/Pistons) (IMACAHAB)

akta.pro secondary industry

Passenger Vehicle Engine Systems Manufacturing (ICE) (IMACAAAF)

Keywords

• Automotive components manufacturing
• Pistons and piston rings
• Engine valves
• Electric vehicle motors
• Precision injection moulded parts

Headquarters

HQ city

New Delhi

HQ country

India

HQ region

Asia

Offices10 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Supply Chain, Operations, Personnel, Technology or R&D, Infrastructure

Revenue model

1. ICE Powertrain Components: Manufacturing and supply of pistons, piston pins, piston rings, and engine valves to automotive OEMs. Revenue from long-term supply contracts with vehicle manufacturers across passenger, commercial, two-wheeler, and tractor segments.
2. Electric Vehicle Components: Electric motors, motor controllers, and EV powertrain components through subsidiaries SPR Engenious Limited and SPR EMF Innovations. Covers 250W to 300KW range for various EV applications.
3. Precision Moulded Parts: Precision injection moulded parts and metal moulds through SPR Takahata and SPR TGPEL, serving automotive, electrical, consumer goods, and medical segments.
4. Automotive Interiors: Lighting and interior components from acquired Antolin India entities, expanding portfolio beyond traditional powertrain into automotive interiors segment.

Go-to-market motion2 records

Distribution channels3 records

Marketing channels6 records

Core offering

Shriram Pistons and Rings (now SPR Auto Technologies Limited) manufactures and supplies pistons, piston pins, piston rings, and engine valves for internal combustion engines across passenger vehicles, two/three wheelers, commercial vehicles, tractors, and industrial applications. The company has diversified into electric vehicle motors and controllers (250W to 300KW range), precision injection moulded parts, and automotive interior components through subsidiaries and acquisitions.

Product overview

SPR Auto Technologies Limited (formerly Shriram Pistons and Rings Ltd.) is an Indian auto components manufacturer operating a diversified product portfolio across traditional internal combustion engine (ICE) components and emerging electric vehicle (EV) technology. The core ICE product lines include Pistons and Piston Pins, Piston Rings, and Engine Valves — which form the company's traditional foundation. The company has strategically expanded into EV components through its subsidiary SPR EMF Innovations, offering Electric Motors and Motor Controllers (250W to 300KW range). Additional precision engineering products include Precision Injection Moulded Parts and Metal Moulds manufactured by subsidiaries SPR Takahata and SPR TGPEL. The portfolio is rounded out by extended product lines including Cylinder Liners, Crankshafts, Connecting Rods, Cylinder Heads, Filters, and Gaskets. The company rebranded from Shriram Pistons and Rings Limited to SPR Auto Technologies Limited to reflect its transition from a pure-play ICE components supplier to a diversified automotive technology company serving both ICE and EV markets.

Differentiator

Problem solved

Functional benefit

Products and services

• Pistons and Piston Pins Pistons and piston pins designed using 3D finite element analysis for passenger vehicles, two/three wheelers, commercial vehicles, tractors, and industrial engines.
• Piston Rings Piston rings developed using materials and metal matrix technologies for gasoline and diesel engines, including steel and cast iron variants with various ring configurations.
• Engine Valves Engine valves manufactured to international standards using magnetic and non-magnetic steel, designed to overcome thermal and corrosive loads in ICE applications.
• Electric Motors and Motor Controllers BLDC hub motors, inner rotor motors, and motor controllers ranging from 250W to 300KW for electric vehicle applications, manufactured by subsidiary SPR EMF Innovations.
• Precision Injection Moulded Parts and Metal Moulds Precision moulded and assembled parts and precision metal moulds manufactured by subsidiaries SPR Takahata and SPR TGPEL, serving automotive, electrical, consumer goods, and medical segments.
• Cylinder Liners Cylinder liners for two-wheelers, cars, HCV, LCV, MUV, tractors, and industrial engines.
• Crankshafts Crankshafts for car, SCV, HCV, LCV, MUV, tractor, and industrial diesel engine applications.
• Connecting Rods Connecting rods as part of the expanded engine components portfolio.
• Cylinder Heads Cylinder heads as part of the expanded engine components portfolio.
• Filters Filters as part of the expanded engine components portfolio.
• Gaskets Gaskets as part of the expanded engine components portfolio.
• Clutch Plates Clutch plates for two-wheelers, three-wheelers, and auto rickshaw applications.

Quantifiable outcome

• 636% stock price appreciation from December 2022 to June 2023 reflecting EV pivot market approval
• +3 more outcomes

Named customers13 records

Segments6 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature6 records

Partnerships

Seven partnerships are on record, tiered core.

• Grupo AntolincoreStrategic or Co-development Partner · 1 December 2024Acquisition of three Grupo Antolin Indian entities (Antolin Lighting India, Grupo Antolin India, Grupo Antolin Chakan) for €159 million (₹1,670 crore). Diversifies portfolio from powertrain to automotive interiors including lighting and interior components. Includes technology licensing agreement.
• TGPEL Precision Engineering LimitedcoreStrategic or Co-development Partner · 1 December 2024Acquired 100% shareholding in TGPEL Precision Engineering Limited for ₹220 crore. Added two manufacturing facilities in Noida, Uttar Pradesh. Expands into automotive, electrical, consumer goods, and medical segments.
• Takahata Precision IndiacoreStrategic or Co-development Partner · 1 February 2023SPR Engenious Limited acquired 75% stake in Takahata Precision India Private Limited for ₹222 crore through subsidiary SPR Engenious. Japanese injection moulding company specializing in precision injection moulded parts.
• EMF InnovationscoreStrategic or Co-development Partner · 1 December 2022SPR Engenious Ltd acquired majority stake in EMF Innovations (electric motor designer and manufacturer) in December 2022 to enter the EV space. EMF designs and manufactures BLDC hub motors, inner rotor motors, and motor controllers ranging from 250W to 300KW.
• SPR Engenious Limited (SEL)coreOthersWholly-owned subsidiary of SPR Auto Technologies focused on EV and new technology investments
• SPR Takahata Precision India Pvt. Ltd.coreOthers75% owned subsidiary manufacturing precision injection moulded parts
• SPR EMF Innovations Pvt. Ltd.coreOthersSubsidiary specializing in electric motors and motor controllers (250W to 300KW)

Scale indicators19 records

Recent moves9 records

Expansion highlights6 records

Direct peers

• Sansera Engineering: Indian precision engineering auto components manufacturer focused on connecting rods, crankshafts, rocker arms and engine components for two-wheelers and passenger vehicles. Highly comparable product overlap in engine sub-components serving similar OEMs.
• Endurance Technologies: Indian auto component manufacturer with strong presence in aluminium die-castings, suspension, transmission and engine components, supplying Indian and global OEMs. Closely comparable product mix and customer base to SPR's ICE components business.
• Varroc Engineering: Indian Tier-1 automotive component supplier offering powertrain, lighting, electronics and interior products to global OEMs. Comparable diversification pattern into lighting/interiors and similar customer base following acquisition-led growth.
• Bharat Forge: India-headquartered Tier-1 automotive component manufacturer producing powertrain and engine-related forged and machined components for global OEMs. Directly comparable as a large Indian auto-ancillary with diversified component portfolio and EV transition underway.
• Sundaram Fasteners: Indian automotive fastener and precision components manufacturer supplying OEMs across two-wheelers, passenger and commercial vehicles. Comparable as an Indian Tier-1 auto ancillary serving similar OEM customers with similar manufacturing depth.
• Mahindra CIE Automotive: Indian-listed automotive component manufacturer (part of Spain's CIE Automotive group) producing forgings, stampings, castings and powertrain components. Directly comparable Indian auto ancillary with diversified component portfolio and global OEM footprint.

Broad incumbents

• Bosch India (Bosch Limited): Subsidiary of Robert Bosch supplying automotive technology including fuel injection, powertrain, and EV solutions to Indian OEMs. Larger incumbent serving the same OEM customers with broader technology portfolio spanning ICE and EV.
• Tata AutoComp Systems: Indian automotive component manufacturer with joint ventures across multiple categories including powertrain, interior and EV components, serving domestic and global OEMs. Broad incumbent with similar Indian OEM footprint and EV diversification.
• Motherson Sumi Systems (Samvardhana Motherson): One of India's largest automotive component manufacturers with a broad portfolio spanning wiring harnesses, vision systems, interior modules and polymer products for global OEMs. Broader incumbent serving overlapping OEM customers with wider category mix.

Emerging players

• Pricol: Indian manufacturer of driver information systems, sensors and automotive components serving two-wheeler, commercial vehicle and tractor OEMs. Comparable as a listed Indian auto-ancillary targeting OEMs in similar segments with adjacent electronics/EV exposure.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat6 records

Key risks6 records

Key highlights6 records

Customer concentration

• YouTubeyoutube.com/@shrirampistonsandringsltd
• Facebookfacebook.com/ShriramPistonsAndRingsLtd
• LinkedInin.linkedin.com/company/shriram-pistons-rings-ltd-

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Subsidiaries8 records

Funding overview

Funding rounds1 record

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Shriram Pistons and Rings