Shriram Pistons & Rings hosted a conference call on Feb 3, 2026. In the conference call, the company was represented by Mr. Krishnakumar Srinivasan – Managing Director & Chief Executive Officer, and Mr. Prem Rathi – Executive Director & Chief Financial Officer.

Key takeaways of the call

During the quarter, the Company’s Consolidated revenue grew by 21% YoY, driven by strong broad-based demand across segments and the company’s continued focus on productivity, cost optimization and operational efficiencies.

The growth was supported by a strong operating environment in the automotive industry post GST 2.0 reforms, driven by robust festive demand and record production & sales volumes across the major segment.

Exports have risen significantly, especially in two-wheelers and passenger vehicles, reflecting strong global demand.

Management stated that Union Budget 2026-27 will support automotive manufacturing and EV ecosystem, emphasizing rare earth mining and infrastructure development to boost industry demand.

Management expects growth momentum to continue this coming quarters.

On 5th December 2025, the company entered into a definitive agreement to acquire 100% shareholding in the Indian entities of Grupo Antolin, namely Antolin Lighting India, Grupo Antolin India and Grupo Antolin Chakan, for an aggregate enterprise value of €159 million or approximately Rs 16,700 Million. The transaction was successfully completed on 8th January 2026. This acquisition represents a transformational step in the company’s growth journey, expanding its ICE-agnostic portfolio into automotive interiors & lighting solutions and significantly enhancing its addressable market across passenger vehicles and emerging mobility platforms.

With the takeover of Antolin’s India operations, the powertrain agnostic products would contribute over 35% of the consolidated revenue.

The Company also entered into an Asset Purchase Agreement and subsequently closed the first tranche as per the agreement, with Sunbeam Lightweighting Solutions (a wholly owned subsidiary of Craftsman Automation) to acquire piston manufacturing lines with related machinery and assets, on a piecemeal basis, which will further enhance the capacities in the legacy business.

The company inaugurated a new assembly center at Bhora Kalan (Gurugram) and a motors & controllers facility in Coimbatore, with manufacturing already commenced.

Q3 FY26 includes a non-recurring one-time exceptional expense of Rs 25.2 crore pertaining to statutory impact of the New Labour Code.

Over the past few quarters, the company has made steady progress in strengthening its manufacturing systems, enhancing automation and improving throughput, all of which are now contributing positively to profitability.

The company proposes to change its name from “Shriram Pistons & Rings” to “SPR Auto Technologies”, subject to approvals from the Ministry of Corporate Affairs, shareholders and the Registrar of Companies, along with consequential amendments to the MOA and AOA.

The Company proposes to adopt a revised Memorandum of Association (MOA) to align with the Companies Act, 2013 and update the Object Clause to reflect business diversification and expansion. The Company also proposes to adopt a revised Articles of Association (AOA) to replace the existing AOA and bring it in line with the Companies Act, 2013.

The board declared an interim dividend of Rs 5 per share on face value of Rs 10 per share for the Financial Year 2025-26. The record date for the purpose is February 6, 2026.

The company plans to issue up to 100,000 secured, rated, listed and redeemable NCDs of face value Rs 1 lakh each, aggregating up to Rs 1,000 crore, via private placement in one or more tranches.

Management commentary: Mr. Krishnakumar Srinivasan, Managing Director & CEO, said: “Q3FY26 was a very eventful quarter for the Company, as we delivered the highest-ever Total Income in a quarter, along with the successful completion of SPRL’s 100% acquisition of Grupo Antolin’s three Indian entities. During the quarter, the Company’s Consolidated Total Income and EBITDA each grew by 21% YoY, driven by strong broad-based demand across segments and the company’s continued focus on productivity, cost optimisation and operational efficiencies. The growth was supported by a strong operating environment in the automotive industry post GST 2.0 reforms, driven by robust festive demand and record production & sales volumes across the major segment. Passenger vehicles and Commercial vehicles segment sales recorded the highest growth of more than 20% YoY during the quarter, while Two-wheeler and Three-wheeler segments grew by 17% YoY and 14% YoY respectively. During the quarter, the Company achieved a significant strategic milestone with the signing of a definitive agreement to acquire 100% shareholding in the Indian entities of Grupo Antolin, namely Antolin Lighting India Private Limited, Grupo Antolin India Private Limited and Grupo Antolin Chakan Private Limited, for an aggregate enterprise value of €159 million or approximately Rs. 16,700 Million. The transaction was successfully completed on 8th January 2026. This acquisition represents a transformational step in SPRL’s growth journey, expanding its ICE-agnostic portfolio into automotive interiors & lighting solutions and significantly enhancing its addressable market across passenger vehicles and emerging mobility platforms. With the takeover of Antolin’s India operations, the powertrain agnostic products would contribute over 35% of the consolidated revenue. Further on the inorganic front, the Company entered into an Asset Purchase Agreement and subsequently closed the first tranche as per the agreement, with Sunbeam Lightweighting Solutions Private Limited (a wholly owned subsidiary of Craftsman Automation Limited) to acquire piston manufacturing lines with related machinery and assets, on a piecemeal basis, which will further enhance the capacities in the legacy business. Looking ahead, supported by a strong industry outlook, diversified product portfolio, expanding customer relationships and disciplined execution, the Company remains confident of sustaining growth momentum and creating long-term value for all stakeholders.”