Shriram Pistons & Rings Limited (SPRL) stands as one of India's most distinguished industrial houses with over 50 years of excellence in automotive component manufacturing. Founded by Dr. Charat Ram, a former president of the industry chamber FICCI (1973-1974), the company has carved a remarkable legacy in the automotive sector. Originally incorporated as Shama Pistons and Rings Ltd. in 1963, the company underwent a management change in 1972 under Dr. Charat Ram's leadership and was subsequently renamed Shriram Pistons & Rings Ltd.
The company has established itself as the largest manufacturer of Pistons, Pins, Rings, and Engine Valves in India, operating from manufacturing units in Ghaziabad, Uttar Pradesh, and Pathredi, Rajasthan. Its products are marketed to almost all OEMs and aftermarkets under the renowned SPR and USHA brands, names that are synonymous with quality and reliability globally.
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. The company's comprehensive product portfolio extends beyond its core offerings to include cylinder liners, crankshafts, connecting rods, cylinder heads, lubricating oils, fuel, air, cabin, and hydraulic filters, and various types of gaskets including copper asbestos copper, aluminium asbestos aluminium, multilayer steel, asbestos steel asbestos, and cylinder head gaskets. Additionally, it offers electric motors and motor controllers, along with precision injection moulded parts.
SPR holds the distinction of being the largest exporter of Pistons and Rings from India. The company has established strategic partnerships with leading international technology providers, including Kolbenschmidt Germany, which are sole suppliers for BMW Mercedes Benz Volkswagen Ford Volvo Peugeot and other premium automotive manufacturers. Export remains at the core of SPR's business strategy, with the company developing and manufacturing the latest technology products for OEMs in Europe, USA, and other international markets.
As of the latest available data, Shriram Pistons & Rings has achieved a market capitalisation of ₹11,293 crores, representing a substantial 36.5% increase over the past year. For the full financial year FY25, the company reported a net profit rise of 14.49% to ₹506.68 crores on a 14.90% increase in revenue to ₹3,549.83 crores compared to FY24.
The company's quarterly performance for Q4 FY25 has been particularly strong:
- Revenue from operations jumped 15.52% to ₹988.37 crores in Q4 FY25
- Profit before tax (PBT) stood at ₹201.07 crores, up 27.33% compared to the same quarter last year
- Net profit increased by 22.52% to ₹146.55 crores in Q4 FY25
The company's revenue composition for FY25 shows a well-diversified business model with Original Equipment Manufacturers (OEMs) contributing 52% versus 51% in FY23, Aftermarket maintaining 26% similar to FY23, Exports at 17% compared to 20% in FY23, and Non-Automotive Applications growing to 5% from 3% in FY23.
The company maintains cutting-edge capabilities through its Tech Centre, which houses highly talented Design and Engineering Professionals specializing in Concept Design, FEA, Simulation, Rig Testing, Prototype Development and Engine Testing & Analysis. This technological prowess is supplemented with continuous Technology and Application Engineering support from international technology partners, ensuring advanced engineering and manufacturing processes.
The company has commenced phase 1 production of engine valves at the newly established facility of SPR Engenious Ltd, a subsidiary located in Pithampur, Madhya Pradesh. This phase 1 production serves both domestic and international customers. In a strategic move to strengthen its supply chain, SPRL has entered into a Share Purchase Agreement to acquire 100% equity stake in Karna InterTech for ₹5 crores. Karna is a key supplier of gravity die casting moulds to SPRL, which are utilized in the manufacturing of piston castings.
The company is currently led by Mr. Krishnakumar Srinivasan, who holds the position of Managing Director and CEO. Mr. Srinivasan's exceptional leadership has been recognized with the CEO of the Year award at the Business Leader of the Year awards, acknowledging his significant contributions and strategic decisions that have propelled the company to new heights.
The company has received numerous accolades from prestigious clients and industry bodies, including awards from Swaraj Tractors, Cummins India, VE Commercial Vehicles, Maruti Suzuki India Limited, and various excellence awards from Japanese and international organizations, demonstrating its commitment to quality and innovation across all business segments.
