SHRIPISTON
The company delivered strong financial performance in Q1 FY27 despite industry-wide challenges, with a 51% YoY increase in total income and 27% YoY growth in EBITDA. Elevated finance costs due to the Antolin acquisition were noted as temporary. Management highlighted strategic diversification efforts and operational efficiency improvements.
Growth by metric
Scale of reported figures
Key financials
| Total Income | ₹1,499 crore | +51% YoY |
| EBITDA | ₹283 crore | +26.6% YoY |
| PAT | ₹148 crore | +9.4% YoY |
Segment commentary
Consolidated Performance
Strong performance with 51% YoY increase in total income and 27% YoY increase in EBITDA despite supply chain disruptions.
Standalone Performance
Maintained EBITDA while absorbing a Rs. 300 million impact from industry-wide issues, showing resilience.
Guidance & outlook
- Anticipate normalization of elevated finance costs post-debt repayment.
- Expect continued growth through strategic diversification and operational excellence.
Key takeaways
- Strong Q1 FY27 performance despite industry challenges.
- Temporary elevated finance costs due to acquisitions.
- Focus on diversification and operational efficiency driving growth.
Risks flagged
- Geopolitical tensions affecting supply chain and commodity prices.
- Elevated finance costs impacting profitability temporarily.





Educational analysis only. Not investment advice. Consult a
SEBI-registered advisor before investing. Source: https://nsearchives.nseindia.com/corporate/SHRIPISTON_04082026220458_SPRINVESTORPRESENTATIONJUNE2026.pdf
Full transcript (8,760 words)
August 4, 2026
National Stock Exchange of India Limited (NSE) BSE Limited (BSE)
Exchange Plaza, Plot No. C/1, G Block Phiroze Jeejeebhoy Towers,
Bandra-Kurla Complex Dalal Street, Fort,
Bandra (East), Mumbai 400051 Mumbai 400001
NSE Symbol: SHRIPISTON BSE Scrip code: 544344
Sub: Investor Presentation on Unaudited Financial Results for the quarter ended on June 30, 2026
Dear Madam/Sir,
With reference to the captioned matter and in furtherance to our earlier intimation letter
submitted on July 21, 2026, regarding the schedule of the “Q1 FY27 Earnings Call” of SPR Auto
Technologies Limited (formerly Shriram Pistons & Rings Limited) (“Company”) to be held on
Wednesday, August 5, 2026 at 4:00 p.m. (IST) and in compliance with Regulation 30(6) of SEBI
(Listing Obligations and Disclosure Requirements) Regulations, 2015 (“SEBI Listing Regulations”),
please find enclosed herewith the Investor Presentation on the Unaudited Financial Results
(Standalone & Consolidated) of the Company for the quarter ended June 30, 2026.
The Investor Presentation shall also be made available on the Company’s website at
https://shrirampistons.com/financial-information/investor-presentation/.
Kindly take the above information on record and treat this as compliance with SEBI Listing
Regulations.
Thanking you.
Yours faithfully,
For SPR Auto Technologies Limited
(formerly Shriram Pistons & Rings Limited)
(Krishnakumar Srinivasan)
Managing Director & CEO
DIN: 00692717
Encl.: As above
SPR Auto Technologies Limited
(Formerly Shriram Pistons & Rings Limited)
Investor Presentation
Q1FY27
NSE : SHRIPISTON | BSE: 544344 https://shrirampistons.com/
Our Brands
SPR
Companies in Group
Sustainable Progressive Resilient
Safe Harbor
This Presentation and the accompanying slides (the “presentation”), have been prepared by SPR Auto Technologies Limited (formerly Shriram
Pistons & Rings Limited) (herein referred to as the “Company”), solely for information purposes and do not constitute any offer,
recommendation or invitation to purchase or subscribe for any securities, and shall not form the basis or be relied on in connection with any
contract or binding commitment whatsoever. No offering of securities of the Company will be made except by means of a statutory offering
document containing detailed information about the Company.
This presentation has been prepared by the Company based on information and data which the Company considers reliable, but the Company
makes no representation or warranty, express or implied, whatsoever, and no reliance shall be placed on the truth, accuracy, completeness,
fairness and reasonableness of the contents of this presentation. This presentation may not be all inclusive and may not contain all of the
information that you may consider material. Any liability in respect of the contents of, or any omission from this Presentation is expressly
excluded.
This presentation contains certain forward-looking statements concerning the Company’s future business prospects and business profitability,
which are subject to a number of risks and uncertainties and the actual results could materially differ from those in such forward-looking
statements. The risks and uncertainties relating to these statements include, but are not limited to, risks and uncertainties regarding fluctuations
in earnings, our ability to manage growth, competition (both domestic and international), economic growth in India and abroad, ability to
attract and retain highly skilled professionals, time and cost over runs on contracts, our ability to manage our international operations,
government policies and actions regulations, interest and other fiscal costs generally prevailing in the economy. The Company does not
undertake to make any announcement in case any of these forward-looking statements become materially incorrect in future or update any
forward-looking statements made from time to time by or on behalf of the Company.
2
Contents
01 02 03 04
Q1FY27
Company Targeted Strategic Industry
Performance
Overview Initiatives Overview
Highlights
05 06 07 08
Historical Historical
Standalone Consolidated Focus on Annexures
Performance Performance Sustainability
Highlights Highlights
Q1FY27 Key Financial Metrics
1,476
1,349
enoladnatS
(Rs. Million)
Total Income EBITDA & EBITDA Margin (%) * PAT & PAT Margin (%)
+51% YoY 14,992
2,828
9,917 2,235
* EBITDA includes Other Income
detadilosnoC
PBT & PBT Margin (%)
22.5% 18.9% 18.5% 13.0% 13.6% 9.8%
+27% YoY
+7% YoY Q1FY26
+9% YoY
1,952
Q1FY27
1,830
Total Income EBITDA & EBITDA Margin (%) * PBT & PBT Margin (%) PAT & PAT Margin (%)
23.5% 21.0% 20.2% 15.7% 15.1% 11.6%
+12% YoY 9,627 (0.2%) YoY (14%) YoY
(14%) YoY
2,024 2,020 Q1FY26
8,622 1,298
1,119
1,743
Q1FY27
1,507
(cid:127) In Q1FY27, geopolitical tensions created an adverse operating environment for the industry; the resulting supply chain disruptions and strain on commodity prices, affected EBITDA by
Rs. 300Million.Undertheabove external environment, theCompany has performed strongly with 51%YoY increase inTotal income&27%YoY increase inEBITDA
(cid:127) Elevated Finance Costs by Rs. 252 Million (Consolidated) and Rs. 229 Million (Standalone) to fund the Antolin acquisition – a temporary effect which shall be normalised once the debt is
repaid
5
Q1FY27 P&L Statement – SPR Consolidated
(Rs. Million)
Particulars Q1FY27 Q1FY26 YoY FY26 FY25 YoY
Revenue from Operations 14,744 9,633 44,587 35,498
Other Income 248 284 1,126 1,114
Total Income 14,992 9,917 51.2% 45,713 36,612 24.9%
Total Operating Expenses 12,164 7,682 35,829 28,256
EBITDA* 2,828 2,235 26.6% 9,884 8,357 18.3%
EBITDA* Margin 18.9% 22.5% 21.6% 22.8%
Depreciation and Amortization 534 315 1,486 1,197
Finance costs 342 90 622 344
PBT before Exceptional Items 1,952 1,830 6.7% 7,776 6,816 14.1%
PBT Margin before Exceptional Items 13.0% 18.5% 17.0% 18.6%
Exceptional Items ^ - - 271 -
PBT after Exceptional Items 1,952 1,830 6.7% 7,505 6,816 10.1%
PBT Margin after Exceptional Items 13.0% 18.5% 16.4% 18.6%
Tax Expense 476 481 1,891 1,661
PAT 1,476 1,349 9.4% 5,614 5,155 8.9%
PAT Margin 9.8% 13.6% 12.3% 14.1%
Cash PAT 2,011 1,663 7,100 6,352
(cid:127) In Q1FY27, the Company delivered a strong performance, demonstrating resilience while navigating an industry-wide environment ofsupply chain and
commodity price movements linked to the wider geopolitical environment
(cid:127) Elevated Finance Costs by Rs. 252 Million to fund the Antolin acquisition –a temporary effect which shall be normalised once the debt is repaid
* EBITDA includes Other Income ^Non-recurring expensepertaining tostatutory impactofNewLabourCode 6
Q1FY27 P&L Statement – SPR Standalone
(Rs. Million)
Particulars Q1FY27 Q1FY26 YoY FY26 FY25 YoY
Revenue from Operations 9,416 8,356 35,266 31,795
Other Income 211 266 995 1,032
Total Income 9,627 8,622 11.7% 36,261 32,827 10.5%
Total Operating Expenses 7,608 6,598 27,823 25,034
EBITDA* 2,020 2,024 (0.2%) 8,438 7,794 8.3%
EBITDA* Margin 21.0% 23.5% 23.3% 23.7%
Depreciation and Amortization 219 217 888 865
Finance costs 293 64 495 248
PBT before Exceptional Items 1,508 1,743 (13.5%) 7,055 6,680 5.6%
PBT Margin before Exceptional Items 15.7% 20.2% 19.5% 20.3%
Exceptional Items ^ - - 237 - -
PBT after Exceptional Items 1,507 1,743 (13.5%) 6,818 6,680 2.1%
PBT Margin after Exceptional Items 15.7% 20.2% 18.8% 20.3%
Tax Expense 388 445 1,681 1,702
PAT 1,119 1,298 (13.8%) 5,137 4,978 3.2%
PAT Margin 11.6% 15.1% 14.2% 15.2%
Cash PAT 1,338 1,515 6,025 5,844
(cid:127) In Q1FY27, the Company delivered 11.7% YoY growth in Total Income and maintained EBITDA, demonstrating resilience while absorbing a Rs. 300
Millionimpactfrom industry-widesupply chain and commodityprice movementslinked tothewider geopoliticalenvironment
(cid:127) Elevated Finance CostsbyRs.229 MilliontofundtheAntolin acquisition –atemporaryeffect which shall benormalised once thedebtis repaid
* EBITDA includes Other Income ^Non-recurring expensepertaining tostatutory impactofNewLabourCode 7
SPR Auto Technologies Consistently Outgrowing the Industry
Industry * SPR Auto Technologies
Q1FY27
Production Domestic Sales Consolidated
v/s
Volumes Volumes Total Income
Q1FY26
+22% +21% + 51%
YoY YoY YoY
9.7 7.7 Rs. 14,992
Million Units Million Units Million
The Automotive industry delivered record Q1 performance, with a strong
double-digit sales growth across all segments
* Source: SIAM and TMA 8
SPR Auto Technologies at a Glance
Proven Industry Leader Global Network
More than 5 decades of Industry presence Presence in 30+ countries across 5
backed by strong leadership continents
Leading manufacturer of pistons, piston pins, Preferred choice of global automotive
piston rings & engine valves customers
Long-standing Technology
Diversified Business Model
Partnerships
(cid:127) Caters to both Automotive & Non-
Automotive* segments Tie-ups with global majors of our
(cid:127) Diversified Revenue stream with presence in segments/products
OEM, Exports & Aftermarket
(cid:127) Diversifying & strengthening product
portfolio through targeted acquisitions
Robust financials^ with Strong
Credit Profile
Manufacturing Excellence
Total Income & PAT grew at a 15% & 33%
#14 Manufacturing Plants
CAGR (from FY22-26)
#8 Assembly Units catering to specific
Strong Return Ratios
requirements of major customers
Consistent cash generation driving long-
#1 World Class Technology Centre
term growth
Strong Credit Rating
(upgraded to AA+ from India Ratings)
* Tractors & Off-highway, Industrials and Gensets ^ Standalone Financials 10
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 rolein shaping the Indian industry
Driven by his relentless pursuit of excellence, he meticulously built up several successful
companies, including SPR Auto Technologies, DCM, Usha International and Shriram Industrial
Enterprises Ltd. (SIEL)
Dr. Charat Ram made history by bringing the Honda Genset and Honda Car to India under joint
ventures
Building upon Dr. Charat Ram’s legacy, SPR Auto Tech has emerged as a prominent Indian
Dr. Charat Ram
manufacturer of automotive components, renowned for its commitment to innovation and
(1918-2007)
excellence
With a rich heritage spanning over 50 years, SPR Auto Technologies continues to embrace new
and cutting-edge technologies in the auto components industry
11
Our Journey of Achieving Excellence over 5+ Decades
1972 1978 1987 1990 1993 1994
Foundation of SPRL; Technology Partnership Technology Partnership Technology Partnership Engine Valves Received ISO9001
Technology Partnership for
for Rings with Riken for Pistons with Honda for Engine Valves with manufacturing Certification
Pistons with Kolbenschmidt,
Corporation, Japan Foundry, Japan Fuji Oozx, Japan commenced
Germany
2010 2008 2007 2004 2001 1995
No. 1 Piston Rings (India) R&D Centre recognised Received TPM Special Received TPM Excellence Received ISO14001 Commencement of Steel
by DISR, Govt. of India Award (JIPM) Award (JIPM) Certification Rings Manufacturing
2011 2014 2016 2020 2021 2022
Incorporation of SPR
Established 3rd plant for SPR leads the Engenious Ltd. (SEL);
Established 2nd plant New Technological Listing on National Global surface treatment development of Piston SEL Acquired 66.42%
in Pathredi, Rajasthan Centre inaugurated Stock Exchange of facility at Ghaziabad, Uttar assembly for BS VI stake in SPR EMF
India Pradesh models in India Innovations Pvt. Ltd.
2026 2025 2024 2023 2022
SPR Auto Technologies acquired 100% stake in Listing on BSE Crosses Rs. 30,000 Million Total Income; SPR Engenious Ltd. (100% Crosses Rs. 20,000
(cid:127) SPR Auto Interior Lighting Solutions Pvt. Ltd. Commencement of Manufacturing subsidiary of SPR Auto Million Total Income;
(cid:127) SPR Auto Interior Solutions Pvt. Ltd. SPR Auto Tech o SE p L e ; rations in Pithampur, MP under Technologies) acquired
(cid:127) SPR Auto Interior Solutions Chakan Pvt. Ltd. acquired 100% stake in SEL (100% subsidiary of SPR Auto 62% stake in SPR Takahata TPM Excellence
Precision India Pvt. Ltd. Award (JIPM)
Karna Intertech Pvt. Technologies) acquired 100% stake
Technology Partnership with Antolin, Spain Ltd. in SPR TGPEL Precision Engineering Technology Partnership with
Company renamed to SPR Auto Technologies Ltd. Ltd. Takahata, Japan 12
State-of-the-art Manufacturing Infrastructure
Under SPR Auto Technologies
Under SEL
Karna SPR Auto Interior SPR SPR SPR
SEL
Intertech Solutions EMFi Takahata TGPEL
Ghaziabad, Pathredi, Bulandshahr Rd, Bahadurgarh, Chakan & Pune, Chennai, Pithampur, Coimbatore, Neemrana, Noida,
Uttar Pradesh Rajasthan Uttar Pradesh Haryana Maharashtra Tamil Nadu Madhya Tamil Nadu Rajasthan Uttar Pradesh
(1 facility) (1 facility) (1 facility) (1 facilities) (4 facilities) (1 facility) Pradesh (1 facility) (1 facility) (2 facilities)
(1 facility)
(cid:127) Pistons (cid:127) Pistons (cid:127) Pistons (Surface Modern CNC Headliner Substrates, Modular EngineValves Motors & Controllers Precision Injection Precision Injection
(cid:127) PistonRings (cid:127) PistonRings coating of top machines and Headliners, Sunvisors, Door for EV Segment Moulded parts for Moulded parts, Air
(cid:127) PistonPins (cid:127) PistonPins (cid:127) g Pi r s o to o n ve R ) ings CAD/CAM P P a ill n a e r ls, Tr C im en , tr F a r l on F t l - o e o n r d C C on ar s r o ie le r s s , , vehicles Vents, Speaker Grills,
(cid:127) EngineValves (cid:127) EngineValves (Coating on top facilities for Exterior Plastic Parts, Overhead Manifolds, Medical
ring) manufacturing Consoles, Dome Lamps, Ambient Parts
die casting Lighting, Touch Panels and
moulds. Capacitive Pads
TThhee eeqquuiippmmeenntt iinn oouurr ffaacciilliittiieess pprroovviiddeess uuss tthhee aaddvvaannttaaggee ooff mmaannuuffaaccttuurriinngg aallll oouurr pprroodduuccttss oonn tthhee ssaammee lliinneess,, eennaabblliinngg uuss ttoo bbee aaggiillee iinn ccaatteerriinngg ttoo ddeemmaanndd ffoorr
ddiiffffeerreenntt pprroodduuccttss
#14
#8 #8 #22
Manufacturing
Offices Assembly Units Logistics Centers Globally
Facilities
13
Strengthening Resilience in a Dynamic Industry Environment
Industry Environment – What is Changing
Geopolitical & Trade Commodity & Input Cost Evolving Powertrain Mix Rising Customer Expectations
Volatility Swings xxxxx
Shifting tariffs and cross-border Movement in commodity prices EVs, Hybrids and tighter emission OEMs seek faster launches, higher
tensions are reshaping global calls for agile cost and pricing norms are reshaping demand precision and greater supply
sourcing routes and lead times management across product segments reliability
Our Response – Initiatives Building Structural Resilience
Efficiency & Cost Sourcing & Supply Automation Digitization Inventory & Logistics
Excellence Chain
Debottlenecking, productivity Streamlined supply base and Affordable low-cost Digitization of plants and Optimised inventory and
gains and cost optimisation closer partner integration, automation and interlinking processes for real-time logistics planning to release
sustaining industry-leading supported by backward of machinery to lift visibility and faster decision working capital and
margins integration, protect continuity productivity across plants making improve service levels
14
Seasoned Board Of Directors Providing Expert Oversight
Mr. Pradeep Dinodia Mr. Hari S. Bhartia Mr. Luv D. Shriram Ms. Meenakshi Dass
Chairman Independent Director Whole Time Director Non-Executive Director
(Non-Executive Non-
Independent Director)
On the board since 2003 Ontheboardsince2009 Ontheboardsince2009 On the board since 2009
Non-Executive Non-Independent Director of Hero Co-Chairman & NED of Jubilant Pharmova Ltd.; OneofthePromoters One of the Promoters
MotoCorp Ltd.,Hero FinCorpLtd., DCM Shriram Ltd., Co-Chairman&WTDofJubilantIngreviaLtd.and Also on the board of SPR Auto Interior Also on the board of SPR Auto Interior
SPR Auto Interior Lighting Solutions Pvt. Ltd., SPR Co-Chairman&NEDofJubilantFoodWorksLtd., Lighting Solutions Pvt. Ltd., SPR Auto Interior Lighting Solutions Pvt. Ltd., SPR Auto Interior
Auto Interior Solutions Pvt. Ltd., and SPR Auto Interior IDinGlobalHealthLtd. Solutions Pvt. Ltd., and SPR Auto Interior Solutions Pvt. Ltd., and SPR Auto Interior
Solutions Chakan Pvt. Ltd. SolutionsChakanPvt.Ltd. Solutions Chakan Pvt. Ltd.
Ms. Ferida Chopra Mr. Krishnakumar Srinivasan Ms. Tina Trikha
Independent Director Managing Director & CEO Mr. Yasunori Maekawa Independent Director
On the board since 2020 Non-Executive Director
Long and varied experience in leadership roles
On the board since 2019 with auto companies in India & abroad
Independent Legal Counsel in Supreme Court of India, Also on the board of the subsidiaries viz. SEL, On the board since 2022 Appointed w.e.f. from 13th May 2024
High Court of Delhi, CCI and various other Tribunals SPR EMFi, SPR Takahata, SPR TGPEL, SPR Auto Chairman & CEO of NPR-Riken Non-Executive & Independent Director of
Independent Director of SPR EMF Innovations Pvt. Ltd., Interior Lighting Solutions Pvt. Ltd., SPR Auto Corporation Hero MotocorpLtd. & Oberoi Realty Ltd.,
SPR Takahata Precision India Pvt. Ltd. & SPR TGPEL Interior Solutions Pvt. Ltd., and SPR Auto Interior and Director of C.E. Info Systems Ltd. &
Precision Engineering Ltd. Solutions Chakan Pvt. Ltd. SPR Auto Interior Solutions Pvt. Ltd.
Mr. Akihiro Ozaki Mr. Klaus Semke Mr. Shigeto Muno Mr. Arun Shukla
Independent Director Non-Executive Director Alternate Director to Director
Mr. Maekawa
On the board since 2023
Appointed w.e.f. from June 2025 On the board since June 2024 On the board since August 2026
Managing Director & CEO at
Vice President, Fuji Valve (Guangdong) Operating Officer -Sales at Executive Director –Projects at SPR
Kolbenschmidt Pistons
Corporation, Japan NPR-Riken Corporation Auto Technologies Ltd.
Management GmbH (Germany)
15
The Visionary Leaders Who Drive SPR Auto Technologies
Mr. Krishnakumar Mr. Arun Shukla Mr. Prem Rathi Mr. Rajan Nanda
Srinivasan Executive Director – Executive Director & Executive Director
Managing Director & CEO Projects CFO
34+ Years of experience
38+ Years of experience 38+ Years of experience 27+ Years of experience MBA Finance &
MBA, Diploma in Exports B. Tech FCA and B. Com (Hons). Operations and B.E.
and B.E. (Mechanical)
Mechanical
Ms. Poonam Bharati Mr. Rajnish Julka Mr. Sumantra Mukherjee
Mr. Atul K. Khanapurkar
Executive Director & Executive Director - Executive Director -
Executive Director -
CHRO Ghaziabad Pathredi
Pathredi
30+ Years of 35+ Years of experience 31+ Years of experience 39+Years of experience
experience MEP, MTE, B. Sc. BE (Procurement B.E. (Electronics).
B Sc., Masters in Engineering Engineering
HR & IR (Mechanical)
Mr. Ashok Sinha Mr. Prashant Khairnar Mr. Pankaj Jain
Dy. Executive Director, Dy. Executive Director Chief –Quality Control
ISCM & CDO
28+ Years of experience 28+ Years of experience 35+ Years of experience
MBA, PGDBM, B. Sc. B.E. Mechanical B.E. (Mechanical Engineering) and a
certified Six Sigma Black Belt
Engineering (Mechanical)
16
The SPR Group
Products are marketed to almost all
OEMs and Aftermarkets under
brandsSPR and USHA
100% 100% 100% 100%
SPR Auto Interior Lighting SPR Auto Interior Solutions Pvt.
SPR Engenious Ltd. (SEL) Karna Intertech Pvt. Ltd.
Ltd.
Solutions Pvt. Ltd.
Karna is a key supplier of gravity (Formerly Antolin Lighting India Pvt. Ltd.) (Formerly Grupo Antolin India Pvt.
Ltd.)
die casting moulds to SPR Auto Indian manufacturer of
Tech, which are utilised in the automotive interior lighting Supplying automotive interior
manufacturingofpistoncastings systemsforleadingOEMs components
100% 100%
62% 72.58%
SPR Takahata Precision India Pvt. Ltd. SPR EMF Innovations Pvt.Ltd. SPR TGPEL Precision Engineering Ltd. SPR Auto Interior Solutions Chakan
(Formerly Takahata Precision India Pvt. (Formerly EMF Innovations Pvt. Ltd.) (Formerly TGPEL Precision Engineering Pvt. Ltd.
Ltd.) Ltd.) (Formerly Grupo Antolin Chakan Pvt. Ltd.)
Technical collaboration with Takahata A young tech company having research Engaged in the manufacturing of high SPR Auto Interior Solutions Chakan
Japan, which is a leading precision base in Singapore and manufacturing precision injection moulds and Private Limited is focused on producing
injection moulded parts manufacturing operationsinIndia injectionmouldedcomponents vehicle interior systems for leading OEMs
companyglobally from its Chakan plant
17
Focusing on Strategic Diversification
DDiivveerrssiiffiiccaattiioonn SSttrraatteeggyy lleeaaddiinngg ttoo CChhaannggee iinn BBuussiinneessss MMiixx
Pre-FY20 FY24 FY26
Aftermarket
Aftermarket
ICE
ICE
Aftermarket
ICE Export Export
High-Precision
Export
Plastic
Engineering High-Precision
Tooling
Motors &
Plastic Engineering
Controllers
Motors &
Tooling
for EV Interior
Controllers for Electronics &
Solutions
EV Lighting
DDiivveerrssee pprreesseennccee aaccrroossss IICCEE ppoowweerrttrraaiinnss iinncclluuddiinngg CCNNGG,, LLNNGG,, PPNNGG ((SSPPRR AAuuttoo TTeecchhnnoollooggiieess SSttaannddaalloonnee)),, EElleeccttrriicc VVeehhiicclleess ((SSPPRR EEMMFFii)),, HHiigghh--pprreecciissiioonn IInnjjeeccttiioonn MMoouullddeedd
CCoommppoonneennttss ((SSPPRR TTaakkaahhaattaa && SSPPRR TTGGPPEELL)),, AAuuttoommoottiivvee IInntteerriioorr && LLiigghhttiinngg SSoolluuttiioonnss ((SSPPRR AAuuttoo IInntteerriioorr LLiigghhttnniinngg SSoolluuttiioonnss,, SSPPRR AAuuttoo IInntteerriioorr SSoolluuttiioonnss && SSPPRR AAuuttoo
IInntteerriioorr SSoolluuttiioonnss CChhaakkaann)) uunnddeerrssccoorreess oouurr ccoommmmiittmmeenntt ttoo aa ppoowweerrttrraaiinn ddee--rriisskkeedd bbuussiinneessss mmooddeell
Pie Charts are for Representative Purposes Only 18
Diversifying into Powertrain Agnostic Domains
BBuuiillddiinngg oonn iittss ddiivveerrssiiffiiccaattiioonn ssttrraatteeggyy,, SSPPRR AAuuttoo TTeecchhnnoollooggiieess iiss eexxppaannddiinngg iinnttoo hhiigghh--ggrroowwtthh PPoowweerrttrraaiinn AAggnnoossttiicc DDoommaaiinnss,,
bbrrooaaddeenniinngg tthhee bbuussiinneessss aanndd ddee--rriisskkiinngg ggrroowwtthh aaccrroossss tthhee AAuuttoommoottiivvee iinndduussttrryy
High-Precision
Motors & Automotive Interior
Plastic Moulded
Legacy Business
Controllers for EV Solutions
Components
Snowmobile Lawnmower
Applications Applications
Brake Units, ECU, Airbag, BLDC Motors, Mid Headliners, Door Panels,
Door Locks, Steering, Drive Motors, Motor Centre Consoles,
Speaker Grills, Air Vents, Controllers, etc. Instrument Panels,
Gensets Marine Electrical Parts, Medical Lighting Systems,
Applications Parts, etc. Electronic / Touch
Components, etc.
and other Industrial Applications
19
All Segments expected to Grow
Delayed Start to EV Penetration 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
PPrreesseennccee aaccrroossss ddiivveerrssee sseeggmmeennttss ppoossiittiioonnss SSPPRR AAuuttoo TTeecchhnnoollooggiieess iinn aa ccoommffoorrttaabbllee ppoossiittiioonn wwiitthh rreeggaarrddss ttoo eexxppeecctteedd cchhaannggee iinn mmaarrkkeett ddyynnaammiiccss,, tthheerreebbyy ddeerriisskkiinngg iittss
oovveerraallll bbuussiinneessss mmooddeell
20
A B
Building a Robust Driving Innovation
Targeted Business through by harnessing
Diversification Technology and
R&D
Strategic
C D
Initiatives
Accelerating Committed to
Growth through Efficiency &
Strategic Operational
Acquisitions Excellence
01 02 03
Building a Robust
Diversified Diversified Diversified Across
Business through
Across Industry Product Portfolio Customer
Segments Segments
Diversification
Diversified Across Industry Segments in Standalone Business
Manufacturing Facilities&Assembly Unitslocated at:
3
Domestic Revenue
Pathredi,
(Rs. Million) Gurugram, Manufacturing
Rajasthan
Haryana Facilities
30,312
Bhorakalan
26,481
23,901 Karsanpura,
20,758 (Gurugram), 5
Gujarat
16,224 Haryana
Assembly Units
Ghaziabad &
Bulandshahr Road,
Pune,
Uttar Pradesh 1,200+
FY22 FY23 FY24 FY25 FY26 Maharashtra
(2 facilities)
Business Partners
Hosur,
Tamil Nadu
Export Revenue FY26 Region-wise Exports Mix
(Rs. Million) #1
4,841 5,182 4,840 4,954 8% 2% Exporter of Pistons, Piston Rings,
Europe Pistons Pins & Engine Valves
4,010 46%
11% South America
Revenue Middle East 5
30+
Break-Up
North America
Continents
10% Countries
Asia Pacific
FY22 FY23 FY24 FY25 FY26
Africa
23%
23
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 Door Locks Steering Speaker Grills Air Vents Flange Cover Manifolds Bobbins
Tuff riding (Nitro Carbonizing)
Multiple head profiles
Seat Stellite Engine Valves
Plating & coating 16 groove profiles
Door Handles Fuse Box Covers Electrical Parts Industrial Parts Medical Parts
Motors & Controllers for EVs Automotive Interior Solutions
Ranging from 2kW to 250 kW
Headliners & Headliner Door Panels Trim Centre Consoles & Overhead & Console
Substrates Components Instrument Panels Systems
BLDC Motors Hub Motors PMSM Motors PMSM Erick Motor Lighting Systems (Interior Electronics /Touch
Floor Consoles
Motors Controllers & Functional) Components
24
Diversified Across Customer Segments
High-Precision Injection Moulded Components
Core / Legacy Products
Takahata
Automotive
Commercial Vehicles Passenger Vehicles
TGPEL
Two-Wheelers Tractors
Non-Automotive
Automotive Interior Solutions
Off-Highway, Industrial & Gensets Marine Railways & Defense
SPR Auto Interior Lighting Solutions, SPR Auto Interior Solutions,
SPR Auto Interior Solutions Chakan
25
Driving Innovation
by harnessing
Technology and R&D
Driving Innovation Through Our Ultra Modern Tech Centre
SSPPRR AAuuttoo TTeecchhnnoollooggiieess’’ SSttaattee--ooff--tthhee--aarrtt TTeecchh CCeennttrree iiss ffuullllyy eeqquuiippppeedd ttoo pprroovviiddee ccoommpplleettee aanndd ccoommpprreehheennssiivvee ssoolluuttiioonnss,, ccaatteerriinngg ttoo tthhee eexxaaccttiinngg nneeeeddss ooff tthhee hhii--tteecchh,,
nneeww ggeenneerraattiioonn eennggiinneess
With a state-of-the-art Technology Centre,
Recognized by Department of the Company has reinforced its self-
Scientific & Industrial sufficiency in end-to-end design,
Research, Government of India development, and testing; while holding
multiple patents
End-to-End Product Development Facility
Complete Setup for Testing of CNG
Simulation Rig Testing Lab Analysis and Multi-Fuel Applications
Concept Design Proto Line Engine Testing
27
Empowering Next-Gen Mobility Solutions
FFooccuusssseedd oonn ddeevveellooppiinngg vvaarriioouuss PPoowweerrttrraaiinn SSoolluuttiioonnss
Advanced CNG-compatible components, meeting
stringent emission norms and ensuring durability in
Hybrid Hydrogen
high-pressure environments
Hydrogen-based fuel solutions, including hydrogen
internal combustion engines (H2-ICE) and hydrogen-
LNG / PNG
enriched compressed natural gas (H-CNG)
Flex
Ethanol-blended fuel solutions, aligning with the
Indian government’s ethanol roadmap for a cleaner,
more sustainable fuel mix
CNG Electric
Electric vehicle (EV) components, strengthening the
product portfolio to cater to next-generation mobility
solutions
28
Time-Tested Technology Partnerships with Major Global Players
Since 2026
Since 1972 Since 1978 Since 1989 Since 1993 Since 2023
HIGH-PRECISION AUTOMOTIVE INTERIOR
PISTONS RINGS PISTONS ENGINE VALVES
INJECTION MOULDED SOLUTIONS
COMPONENTS
Kolbenschmidt, Germany Riken Corporation, Japan Honda Foundry, Japan Fuji Oozx, Japan
Antolin, Spain
21.3% Holding in SPR Auto Takahata, Japan
Technologies
R b su i a g p n g p k e l s i s e t r a s m w a o u o n t r o l g dw t i i h d n e e du 1 st 0 r 0 y F P In o r d e u o s n e n d n e e c s d e ia i , n in 19 U 2 S 7 A T , ha C il h a i n n d a, , F B M o e a u g n n a u n d f e a d ctu in ri 1 n 9 g 63 with E P s re ta s b en lis c h e e i d n i U n S 1 A 9 , 5 C 1 hina, E M s a ta n b u l f i a sh ct e u d r e in s 1984 E In s v ta e b n l t i e s d he r d u b in b e 1 r 9 - 5 m 0 etal
40 production plants in Europe,andIndia Piston, also Indonesia, Mexico, automobile parts; digital, steering joint, now
E Ja u p ro an p , e I , nd t ia he and A C m h e in ri a cas, M Rin a g nu s, fa O ct t u h r e e r s Autom P o is t t i o v n e m au a t n o u m fa o c b t i u le re p s arts and G M e a r n m u a fa n c y t u a r n e d s I v n a d r i i a ous o m p e t d ic ic a a l, l r e e q si u d i e p n m ti e a n l, t and m so a lu n t u io fa n c s t u u r n e d s e i r n t b e u r s io in r esses
Has three divisions – Parts, Piping, Marine & other aluminium alloy engine valves and other based on precision mold including overheads, doors
Mechatronics, Motor Industrial Components & parts engine-related parts and designs, and innovative and trim, cockpits, lighting,
Parts, Thermal automobile parts, etc. molding technology and electronic systems
service and Hard parts
Engineering products,
(includes pistons for cars
Aerospace Industrial
& CV, and other
Equipmentparts,etc.
products)
29
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
India had an installed generation capacity of ~540 GW The framework that has been a success in the West 200+ EVs per commercial charging point in India, Unlike traditional petrol or diesel cars, the
in 2026 and China cannot be applied to India due to the compared to ~20 in US and less than 10 in China resale value of electric vehicles is influenced
EV deployment in the 33% target scenario by 2030, will different demographics in India Very few charging stations in cities apart from few by factors such as battery health, software
result in 334 GW or a quarter of aggregate load India is also not as technologically matured as other Metros; Malls and Office spaces also lack updates, and technological advancements
capacities of electricity devices and equipment across countries which would make EV adoption much infrastructure making it challenging for daily Absence of standardised diagnostics for
all end-use sectors of the country slower than what these countries have witnessed commuters. battery health creates uncertainties for buyers
& insurers
Sustainability: Well-to-Wheels ICE vs. EV Higher Ownership Costs of EV makes it High Replacement Costs & Miniscule
unaffordable for majority of the Maintenance Network
60% thermal power being generated today is not fully sustainable population
India has committed to 50% of its installed power capacity by 2030 to The replacement costs of EV batteries are very
come from non-fossil sources with non fossil-fuel-based power capacity Initial Cost of owning an EV is 2x the cost of an high (up to Rs. 7 lakh for some vehicles)
to increase by 500GW ICE vehicle. Due to the high technology used in EVs, the repair
For a park of 100 Mn. vehicles (with 60% 2-Wheelers); the volume of Higher cost of EV technology and unavailability of technicians in India have little knowledge about
power required will be huge several components in India EV and it is highly risky to repair in local
The correct way of disposing off used batteries will be a challenge workshops
WWhhiillee tthhee EEVV IInndduussttrryy iiss wwiittnneessssiinngg ggrroowwtthh,, iitt iiss ffaacciinngg nnuummeerroouuss cchhaalllleennggeess aanndd ssttiillll hhaass aa lloonngg wwaayy ttoo ggoo.. IInn tthhee mmeeaannwwhhiillee,, IInntteerrnnaall CCoommbbuussttiioonn ((IICC)) EEnnggiinneess wwiillll
ccoonnttiinnuuee ttoo ggrrooww wwiitthh tthhee ggrroowwiinngg AAuuttoommoottiivvee IInndduussttrryy
30
Accelerating Growth
through
Strategic Acquisitions
Foray into ICE Agnostic Products (1/3)
HHiigghh--PPrreecciissiioonn IInnjjeeccttiioonn MMoouullddeedd PPrroodduuccttss
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 India Pvt. Ltd. (TPIPL) SPR TGPEL Precision Engineering Ltd. (TGPEL)
Acquisition completed on 16 October 2023 Acquisition completed on 24 December 2024
SPR TPIPL is a leading manufacturer of high- SPR TGPEL is a leading player in the field of
Company Profile
precision injection moulded parts for precision mould making and injection moulded
applications such as automotive, office parts, manufacturing parts including speaker
automation equipment, residential, medical
grills, air vents, manifolds, door handles, etc.
equipment, etc.
Technical Collaboration with Takahata Japan 30+ years of experience in mould making &
What They Bring
State of the art manufacturing facility in precision plastic components manufacturing
Neemrana, Rajasthan capable of developing 2 manufacturing facilities in Noida, Uttar
moulds from 20T – 350T Pradesh
Strategic Fit Diversification into High-Precision Injection Strengthens the company’s precision injection
Moulded Components moulded components business
Derisking of Business Model Further derisking of business model
32
Foray into ICE Agnostic Products (2/3)
EElleeccttrriicc MMoottoorrss && CCoonnttrroolllleerrss MMoouullddss && TToooolliinngg
SPR EMF Innovations Pvt. Ltd. Karna Intertech Pvt. Ltd.
SPR Engenious Ltd. (SEL) increased their stake in SPR
Transaction Details SPR Auto Technologies acquired 100% stake in
EMF Innovations Pvt. Ltd. (EMFi) from 66.42% to
Karna Intertech Pvt. Ltd. (Karna)
72.58% during Q2FY26
Acquisition completed on 01 April 2025
Acquisition completed on 11 January 2023
SPR EMFi is a young technology company involved in
Karna is a key supplier of gravity die casting
the designing & manufacturing of motors and
Company Profile moulds to SPR Auto Tech, which are utilised in
controllers for electric vehicles with research base in
manufacturing of gravity die casting moulds and
Singapore & manufacturing in India
other precision engineering products
Technology Agreement with Wuxi Lingbo
Technology Co. for controllers and Shenzhen High Level of quality and skilled workforce
What They Bring
Greatland Electrics Inc. for motors Tool Room in Bahadurgarh, Haryana
State of the art manufacturing facility in Coimbatore, Precision engineering capabilities
Tamil Nadu with design & manufacturing capabilities
Electrification of Product Portfolio Part of Backward Integration strategy of SPR
Strategic Fit Diversification of Business Model Auto Technologies
Developing grounds-up & complete system
solutions for EVs will allow SPR Auto
Technologies to capture a large market
33
Foray into ICE Agnostic Products (3/3)
AAuuttoommoottiivvee IInntteerriioorr SSoolluuttiioonnss
SPR Auto Interior Solutions SPR Auto Interior Solutions Chakan
SPR Auto Interior Lighting Solutions
Pvt. Ltd. Pvt. Ltd.
Pvt. Ltd.
(Formerly Antolin Lighting India Pvt. Ltd.) (Formerly Grupo Antolin India Pvt. Ltd.) (Formerly Grupo Antolin Chakan Pvt. Ltd.)
Transaction Details SPR Auto Technologies acquired SPR Auto Technologies acquired SPR Auto Technologies acquired
100% stake in SPR Auto Lighting 100% stake in SPR Auto Interior 100% stake in SPR Auto Interior
Solutions Pvt. Ltd. Solutions India Pvt. Ltd. Chakan Pvt. Ltd., a subsidiary of SPR
Acquisition completed on 08th Acquisition completed on 08th Auto Interior Solutions Pvt. Ltd.
January 2026 January 2026 Acquisition completed on 08th
January 2026
Leading suppliers of automotive interior solutions in India
Company Profile
Manufacture and sell products such as headliner substrates, modular headliners, sunvisors, door panels, central floor
consoles, pillar trims, ambient lighting, etc.
Long-term Technology Licensing Agreement with Antolin Global, ensuring continued access to cutting-edge technologies
What They Bring and support for new product development
5 manufacturing facilities – 2 each in Chakan and Pune, Maharashtra, and 1 in Chennai, Tamil Nadu
Post Acquisition, SPR Auto Technologies has become a multi-product and well-diversified organisation with powertrain
agnostic products contributing over 35% of the Consolidated Total Revenue
Strategic Fit
High synergies with other group Plastics companies driving enhanced growth and value creation.
High Asset Turnover Ratios resulting in good ROCE and Cash Retention
34
Committed to
Efficiency &
Operational Excellence
Committed to Efficiency & Operational Excellence
FFooccuussiinngg oonn ccaappiittaall eeffffiicciieennccyy wwhhiicchh wwaass eevviiddeenntt iinn ssiiggnniiffiiccaanntt ssttrreennggtthheenniinngg ooff iinndduussttrryy lleeaaddiinngg EEBBIITTDDAA mmaarrggiinnss ffrroomm 1155..99%% iinn FFYY2222 ttoo 2233..33%% iinn FFYY2266
Cost Optimization measures
Affordable low-cost automation
including Effective & Efficient and interlinking of machinery EBITDA* MARGIN (%)
utilization of resources
Increasing capacities by 23.7%
Backward Integration Initiatives (like 23.4% 23.3%
debottlenecking and setting up
recent acquisition of Karna)
new facilities
Productivity improvement across 19.2%
Streamlining of Supply Chain
products
15.9%
Focussed approach to meet
Digitization
customer requirements
FY22 FY23 FY24 FY25 FY26
Standalone Financials * EBITDA includes Other Income 36
India’s Growing Automobile Market
Automobile Domestic Production Volumes * Automobile Domestic Sales Volumes *
(in Million) (in Million)
FY25 FY26 36.0 FY25 FY26 29.5
32.0 26.6
26.7 21.7
23.9 19.6
5.1 5.5
4.3 4.6
1.0 1.2 1.0 1.2 1.1 1.3
1.0 1.3 1.0 1.1 0.7 0.8
Tractors CV 3W PV 2W Auto
Tractors CV 3W PV 2W Auto
Industry
Industry
(cid:127) The Indian automotive industry is witnessing steady demand recovery, especially in passenger vehicles and two-wheelers, driven by improving rural
sentiment, infrastructure spending, and stable financing availability
(cid:127) Premiumisation remains a major trend consumers are increasingly opting for SUVs, higher variants, and feature-rich vehicles, which is helping
automakers improve margins despite competitive pricing pressure
(cid:127) The auto component and export segments continue to strengthen, with Indian manufacturers benefiting from global supply-chain diversification and
rising localisation, positioning India as a key manufacturing and sourcing hub globally
* Source: SIAM and TMA 38
Internal Combustion Engine Market
Global ICE Market Size * Indian ICE Market Size ^
(USD Billion) (USD Billion)
6.3% CAGR
384.3
7.6% CAGR
8.3
283.1
5.4
2025E 2030P 2025E 2030P
(cid:127) Most car manufacturers are moving towards Hybrid, which requires ICE engines and Motors & Controllers. ICE demand expected to sustain and
increase
(cid:127) The increasing population and rising purchasing power has led to an upsurge in demand for vehicles especially two wheelers and four wheelers
among middle class population in India driving ICE market growth
(cid:127) Achieving emission norms, mandated by governments worldwide including India, through improvement of vehicle fuel efficiency have provided
significant impetus towards adoption of high performing IC engines.
* Source: Mordor Intelligence, ^Source: Mobility Foresights 39
Emerging EV Industry Landscape
EV Penetration in India (%) & EV Sales (in Thousand)* Category-wise EV Penetration in 2026^ (in %) *
1,025 1,525 1,927 2,250 1,487
39.1%
9.7%
8.0%
7.5%
6.4%
4.8%
8.6% 9.7%
4.7% 5.4%
2022 2023 2024 2025 2026^ CV 3W-P PV 2W Auto Industry
(cid:127) India’s EV sector is witnessing rapid growth in volumes, driven mainly by electric two-wheelers, fleet mobility, and increasing consumer
acceptance in urban markets.
(cid:127) Charging infrastructure and localisation are currently the biggest focus areas for the industry. The government is heavily investing in public
charging networks, battery manufacturing, and domestic supply chains toreduce import dependence and support long-term scalability.
(cid:127) Despite strong momentum, the sector still faces challenges around high upfront vehicle costs, uneven charging infrastructure outside metros,
and affordability concerns, which continue to slow mass adoption in certain segments.
* Source: EV Vahan Dashboard –Clean Mobility Shift ^Till Date 40
India Automotive Interior Solutions Industry
Auto Interior Solutions Market Size (Rs. Billion)
A flap attached to the top of a vehicle's interior above
8.7%-9.7% CAGR Sunvisors the windshield that can be swung down to block the
81.0-85.0 sun's glare and protect the eyes of the driver and
passengers
4.5-5.0
11.0-12.0
o Interior lighting products provides visibility inside
Interior a car’s cabin including products such as overhead
consoles,readinglamps,etc.
53.4 17.0-18.0 Lighting
o Also includes ambient lighting integrated with
2.9
dashboardanddoortrims inpremiumcars
7.3
o A fabric and foam material that covers the inside
11.8
ofa car's roof, providing insulation, reducing noise,
Headliners
andconcealingwiring andhardware
49.0-50.0 o It is made by joining a decorative fabric to a PU
foam
31.3
o Door trim are individual or assembly of parts that
Door Trims coverthe inside ofa car’sdoor
& Plastic o It maybe covered with materials such as fabric
FY26 FY31P Parts or leather, and houses components like sound
systems, ambientlighting,etc.
Door Trims Headliners Interior Lighting Sunvisors
Source: Industry Report 41
Historical Standalone
Performance Highlights
Key Standalone Ratios over the years
Debt-to-Equity Ratio (x) Interest Coverage Ratio (x)
0.59
27.9
24.8
21.4
20.3
15.3
0.19
0.17
0.15
0.11
FY22 FY23 FY24 FY25 FY26 FY22 FY23 FY24 FY25 FY26
Net Working Capital Cycle (Days) ROE & ROCE (%)
ROE ROCE
68
65 66
29.2%
58
54 27.0%
23.8% 22.9%
20.7%
16.9%
19.3% 17.8%18.5%
13.0%
FY22 FY23 FY24 FY25 FY26 FY22 FY23 FY24 FY25 FY26
In FY26, for the Antolin acquisition, the Company issued Non-Convertible Debentures worth Rs. 10,000 Million, which has increased the Debt. Post the increase
in Debt also, the Company remains with a Debt-to-Equity Ratio of only 0.59x, which also would get normalised with the repayment of the debentures.
Standalone Financials 43
Standalone P&L Statement
(Rs. Million)
Particulars FY22 FY23 FY24 FY25 FY26
Revenue from Operations 20,647 26,050 29,537 31,795 35,266
Other Income 292 462 813 1,032 995
Total Income 20,939 26,513 30,351 32,827 36,261
Total Expenses 17,602 21,416 23,237 25,034 27,823
EBITDA 3,337 5,097 7,114 7,793 8,438
EBITDA Margin 15.9% 19.2% 23.4% 23.7% 23.3%
Depreciation and amortization 1,020 933 874 865 888
Finance costs 114 194 252 248 495
PBT before Exceptional Items 2,202 3,969 5,989 6,680 7,055
PBT Margin before Exceptional Items 10.5% 15.0% 19.7% 20.3% 19.5%
Exceptional items - - - - 237
PBT after Exceptional Items 2,202 3,969 5,989 6,680 6,818
PBT Margin after Exceptional Items 10.5% 15.0% 19.7% 20.3% 18.8%
Tax Expense 566 1,014 1,521 1,702 1,681
PAT 1,636 2,956 4,468 4,978 5,137
PAT Margin 7.8% 11.1% 14.7% 15.2% 14.2%
Standalone Financials * EBITDA includes Other Income 44
Standalone Balance Sheet
(Rs. Million)
Assets Mar-25 Mar-26 Equity & Liabilities Mar-25 Mar-26
Non-Current Assets
Equity Share Capital 440 440
Property, Plant & Equipment 5,249 5,152
Other Equity 23,651 28,381
Capital Work in Progress 61 180
Total Equity 24,091 28,821
Goodwill & Other Intangible Assets 177 173
Liabilities
Right of Use Assets 604 797
Non-Current Liabilities
Financial Assets
Financial Liabilities
(i) Investments 6,131 23,765
(i) Borrowings 767 11,078
(ii) Loans 120 90
(ii) Lease Liabilities 194 382
(iii) Other Financial Liabilities 37 19
(iii) Other Financial Assets 1,184 1,295
Provisions 325 335
Other Non-Current Assets 144 163
Deferred Tax Liabilities (Net) 253 197
Total Non-Current Assets 13,669 31,615
Total Non-Current Liabilities 1,576 12,012
Current Assets
Current Liabilities
Inventories 4,200 4,541
Financial Liabilities
Financial Assets
(i) Borrowings 2,791 5,805
(i) Investments - 465
(ii) Lease Liabilities 55 53
(ii) Trade Receivables 5,127 5,667
(iii) Trade Payables 3,677 3,876
(iii) Cash & Cash Equivalents 278 131
(iv) Other Financial Liabilities 1,008 1,133
(iv) Other Bank Balances other than (iii) above 9,411 8,701
Other Current Liabilities 410 302
(v) Loans 30 30
Provisions 160 98
(vi) Other Financial Assets 459 487
Current Tax Liabilities (Net) 104 169
Other Current Assets 697 631
Total Current Assets 20,203 20,65 Total Current Liabilities 8,205 15,313
Total Assets 33,872 52,268 Total Equity & Liabilities 33,872 52,268
Standalone Financials 45
Standalone Abridged Cash Flow Statement
(Rs. Million)
Cash Flow Statement Mar-25 Mar-26
Cash Flow from Operating Activities
Profit Before Tax 6,680 6,818
Adjustment for Depreciation & Other Operating Items 271 449
Operating Profit before Working Capital Changes 6,951 7,267
Changes in Working Capital (1,070) (236)
Cash Generated from Operations 5,881 7,030
Income Tax Paid (1,688) (1,684)
Net Cash from Operating Activities 4,194 5,346
Cash Flow from Investing Activities (3,648) (17,786)
Cash Flow from Financing Activities 1,336 11,583
Net increase/ (decrease) in Cash & Cash Equivalents* 1,882 (857)
Cash & Cash Equivalents at the beginning of the period* 7,807 9,689
Cash & Cash equivalents at the end of the period* 9,689 8,832
Standalone Financials * Cash and Cash Equivalents comprises of Cash, Bank balance and Investments in Liquid Fixed Deposits up to 12 months 46
Historical Consolidated
Performance Highlights
Key Consolidated Ratios over the years
Debt-to-Equity Ratio (x) Interest Coverage Ratio (x)
0.62
20.3 21.4 20.3 20.8
13.5
0.23
0.19 0.19
0.11
FY22 FY23 FY24 FY25 FY26 FY22 FY23 FY24 FY25 FY26
Net Working Capital Cycle (Days) ROE & ROCE (%)
ROE ROCE
68
66
63
60
55 26.6%
25.5%
22.7%
21.7%
20.6%
18.7% 18.6%18.6%
16.9%
13.0%
FY22 FY23 FY24 FY25 FY26 FY22 FY23 FY24 FY25 FY26
In FY26, for the Antolin acquisition, the Company issued Non-Convertible Debentures worth Rs. 10,000 Million, which has increased the Debt. Post the increase
in Debt also, the Company remains with a Debt-to-Equity Ratio of only 0.62x, which also would get normalised with the repayment of the debentures.
Consolidated Financials 48
Consolidated P&L Statement
(Rs. Million)
Particulars FY22 FY23 FY24 FY25 FY26
Revenue from Operations 20,647 26,093 30,893 35,498 44,587
Other Income 292 467 853 1,114 1,126
Total Income 20,939 26,560 31,746 36,612 45,713
Total Expenses 17,602 21,490 24,473 28,256 35,829
EBITDA 3,337 5,070 7,273 8,357 9,884
EBITDA Margin 15.9% 19.1% 22.9% 22.8% 21.6%
Depreciation and amortization 1,020 947 1,077 1,197 1,486
Finance costs 114 193 305 344 622
PBT Before Exceptional Items 2,202 3,930 5,891 6,816 7,776
PBT Margin Before Exceptional Items 10.5% 14.8% 18.6% 18.6% 17.0%
Exceptional Items - - - - 271
PBT After Exceptional Items 2,202 3,930 5,891 6,816 7,505
PBT Margin After Exceptional Items 10.5% 14.8% 18.6% 18.6% 16.4%
Tax Expense 566 991 1,505 1,661 1,891
PAT 1,636 2,939 4,387 5,155 5,614
PAT Margin 7.8% 11.1% 13.8% 14.1% 12.3%
Consolidated Financials * EBITDA includes Other Income 49
Consolidated Balance Sheet
(Rs. Million)
Assets Mar-25 Mar-26 Equity & Liabilities Mar-25 Mar-26
Non-Current Assets Equity Share Capital 440 440
Property, Plant & Equipment 7,707 10,079 Other Equity 24,533 29,743
Capital Work in Progress 578 507 Total Equity 24,973 30,183
Goodwill & Other Intangible Assets 2,412 16,948 Liabilities
Right of Use Assets 1,914 3,186 Non-Current Liabilities
(i) Investments 100 107 Financial Liabilities
(ii) Other Financial Assets 1,502 2,189 (i) Borrowings 1,737 12,000
Other Non-Current Assets 273 423 (ii) Lease Liabilities 239 911
Total Non-Current Assets 14,486 33,439 (iii) Other Financial Liabilities 136 174
Current Assets Provisions 389 451
Inventories 4,723 6,237 Deferred Tax Liabilities (Net) 604 1,368
Financial Assets Other Non-Current Liabilities 0 22
(i) Investments 263 1,241 Total Non-Current Liabilities 3,104 14,925
(ii) Trade Receivables 5,837 8,330 Current Liabilities
(iii) Cash & Cash Equivalents 421 1,047 Financial Liabilities
(iv) Other Bank Balances other than (iii) above 10,095 9,311 (i) Borrowings 3,045 6,667
(v) Loans 30 30 (ii) Trade Payables 4,107 6,825
(vi) Other Financial Assets 492 554 (iii) Other Financial Liabilities 1,215 1,677
Other Current Assets 942 1,338 Other Current Liabilities 845 1,249
Total Current Assets 22,804 28,088 Total Current Liabilities 9,212 16,418
Total Assets 37,289 61,527 Total Equity & Liabilities 37,289 61,527
Consolidated Financials 50
Consolidated Abridged Cashflow Statement
(Rs. Million)
Cash Flow Statement Mar-25 Mar-26
Cash Flow from Operating Activities
Profit Before Tax 6,816 7,505
Adjustment for Depreciation & Other Operating Items 614 1,043
Operating Profit before Working Capital Changes 7,431 8,549
Changes in Working Capital (1,397) (595)
Cash Generated from Operations 6,034 7,954
Income Tax Paid (1,691) (1,704)
Net Cash from Operating Activities 4,344 6,250
Cash Flow from Investing Activities (3,847) (18,146)
Cash Flow from Financing Activities 1,399 12,054
Net increase/ (decrease) in Cash & Cash Equivalents* 1,896 158
Cash & Cash Equivalents at the beginning of the period* 8,620 10,516
Cash & Cash equivalents at the end of the period* 10,516 10,358
Consolidated Financials * Cash and Cash Equivalents comprises of Cash, Bank balance and Investments in Liquid Fixed Deposits up to 12 months 51
Huge Focus on Sustainability (1/2)
Environmental Social Governance
(cid:127) Implemented ISO 14001 Environmental Management
Implemented ISO 45001 Occupational Health and Steering Committee on ESGunder
Systemsat both manufacturing sites
Safety Management System across organization chairmanship of our MD & CEO
(cid:127) Zero Waste to Landfill certificationas per DIN -91436
Utmost importance to theHealth and Safety of Instated a broadEnterprise Risk Management
status “Bronze “ Medal.
workersat the plant/factory framework
(cid:127) Three plants haveZero Liquid Discharge (ZLD) status
Focus onInclusion and Gender Diversity– RobustEthics framework in place
& state of the art ETP & STP
employing women workers on shop floor
Introduced“KPMG” -a digital platform to
(cid:127) Special focus on Renewable energy (Solar power ):
Regulartrainings on Skill Upgradation and other enable access of relevant ESG related datato
(cid:127) 27 MW(~30% of total requirement) Solar Power aspects for all the employees authorized users.
through Group Captive at Ghaziabad
Ensuringno human rights get violated across Compliance management toolin place
(cid:127) Commissioned 1.9 MW(~5% of total requirement) operations
Innovation & intellectual property-oriented
Rooftop Solar Power Plantat Pathredi
Institutedspecial woman empowerment programs culturereflected in patents filled
(cid:127) Procured4 MW(~40% of total requirement) Solar including Self Defence
Won the“Golden Peacock“award from
Powerthrough Group Captive at Bulandshahr
Mobile medical van & charitable Dispensariesin Institute of Directors –London forGood
(cid:127) Commissioned 1 MWSolar Power Plantat Pithampur nearby area Corporate Governance in 2022 & 2025
(cid:127) Sustainability data published on global platforms Empowering women in rural communities earn
like CDP ECOVADIS & SAQ livelihood by acquiring Tailoring and Bakery skills
(cid:127) 95% of critical Suppliers on-boarded areenvironment
compliant
Awards & Commendation for Significant Achievement award for sustainability by CII GOLD” Category awarded by TVS for Sustainability
Accolades ESG rating 2 awarded by Dun & Bradstreet “A” Category awarded by Mahindra & Mahindra
Sustainability Excellence Award 2025 from Indian Chamber of Commerce “Bronze” recognition from ECOVADIS
Awarded “B” Rating by CDP in 2025 25thICSI National Awards for Excellence in Corporate Governance
53
Huge Focus on Sustainability (2/2)
Environmental Social Governance
Initiatives* Initiatives Initiatives
Voluntary disclosure of BRSR
21% of Total energy is from Renewable Improvements in Attrition Rate
Strong commitment of Board to good
100% Used water is recycled (ZLD) #2 days trainings on average per employee
corporate governance
98% reduction in waste to landfill over Skill & Competency upgradation programs
Golden Peacock Award for Good Corporate
base year 2021-22 for employees
Governance
Policy Framework on BRSR
Plants are ISO-45001 certified for Adoption of Human Rights policy
59% Reduction in Energy Health & Safety
Inclusion of ESG in EHS policy
Consumption
“Sword of Honour” by British Safety Anti-corruption and No Bribery policy
45% Reduction in Scope 1+2 Council
Code of Conduct & Ethics
Emissions
Zero Lost Time Accident (LTA) at plants No Child Labour
5% Reduction in Water Intensity
Freedom of Association
Equal & Fair Treatment practices
Promoting circular economy by 200% water positive by rainwater
reusing scrap and minimizing waste harvesting projects in nearby villages Supply Chain: Preference given to local
Elimination of Wooden Pallets & Focussed efforts to improve Health, & MSME vendors for procurement
Recycling of Packaging Material Hygiene/Sanitation, etc.
* Against Base Year 2021-22 54
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” Corporate
by Dun & Bradstreet
17029 Sustainability – 2025
by CII
Recognitions
(cid:127) Received its sustainability assurance certificate vide TUV audit
(cid:127) Accredited for ISO 14064 for greenhouse gas quantification, ISO 50001 for energy efficiency management, ISO 46001 for water efficiency management and ISO 27001
for information and cyber security
55
Awards and Accolades
From Customers From Industry Bodies
Institute of Directors, India -Golden Peacock Award for the second time for
Cummins India - Supplier of the Year Award – Direct Sourcing
“Excellence in Corporate Governance –2025”
Maruti Suzuki - Award for Part Design & Dev., Overall Automotive Component Manufacturers Assn. Of India (ACMA)
Performance – 2024-25
– `Platinum Award’ -Manufacturing Excellence
– `Gold Award’ -Excellence in Environment, Social & Governance (ESG)
Bajaj Auto - Received the “SUPER PLATINUM” Quality Award
– `Gold Award’ -Safety
from Bajaj Auto
– `Platinum Award’ - NPDD and Localization
Mahindra & Mahindra : Best Supplier Award -Mahindra – `Platinum Award’ for Excellence in Export
Farm Division Engine. Proprietary for FY25-26. CICU - `Gold Award’ -National Kaizen competition
CII – Winner in the CII Virtual Competition
Hyundai Motor India – Appreciation Award
– “Silver” Award in the CII National Kaizen Circle Competition
TAFE - Best Supplier Award for Quality Performance at the – “Platinum” Award in the 21stCII National Poka Yoke Competition
EEPC
TAFE Global Supplier Meet 2025
-Award for Special Contr. (Highest Growth in Exports)
Honda Motorcycle & Scooter– Delivery Management Award -Gold Trophy for Excellence in Exports (MEIS items)
Japan Institute Of Plant Maintenance (JIPM)
Honda Cars India - “Best Kaizen – Delivery – at the HCI
– TPM Excellence Award to Ghaziabad & PathrediPlants
Supplier’s Club National Level – Award For Excellence In Technology
– TPM Special Award For Excellence
Kirloskar Oil Engines- Platinum Award at the ESG competition Narayan Sewa Sansthan - Bharat Seva Ratan Award
Swaraj Tractors -Best Supplier award Safety &Quality Forum of the Inst.of Eng. -“Safety Innovation Award
ZF Global - Outstanding support to the ZF Group for its India (cid:127) Institute of Supply Chain Management (ISCM)-Title of `Auto Supply Chain
Champion’ in the Auto Components Industry (Large Companies)
Procurement Strategy
ICQCC 2025, Taiwan - Gold Award”at the Intl’ Convention on Quality Control Circles
Hero MotoCorp - Sustainability Award Quality Circle Forum of India - Gold Award” -QC Summit 2026
The Institute of Indian Foundrymen- Recognition for the esteemed support
Tata Motors - Outstanding Contribution Award -Q-Quest 2025
Dun & Bradstreet- Recognized as one of “India’s Leading ESG Entities” in latest
Yanmar – Delivery Excellence Award for 2025-26 edition of “ESG Horizons: Now and Next 2026”
Ideas India- SPR Pathrediteam won 13 awards under Kaizen Category
RReecceeiivveedd sseevveerraall ootthheerr aawwaarrddss ffrroomm OOEEMMss aaccrroossss PPaasssseennggeerr VVeehhiicclleess,, 22//33 WWhheeeelleerrss,, CCoommmmeerrcciiaall VVeehhiicclleess && TTrraaccttoorr sseeggmmeennttss 57
Delivering Value to the Shareholders
Shareholding as on 30th June 2026 Share Information as on 30th June 2026 (except Market Cap)
NSE Ticker SHRIPISTON
Promoters
Shares Outstanding (Million) 44.0
DII
33.9% Market Cap (Rs. Million)(as on 03rdAugust 2026) 1,98,665
43.8%
FII % Free Float 56.25%
Free Float Market Cap (Rs. Million) 10,375.6
Bodies Corporate (incl.
2.0%
overseas) 3M ADTV (Shares) 91,527
8.2%
Others
12.2% Industry Auto Components & Equipment
Total Equity Dividend Paid (Rs. Million) History of Bonus Issue of Shares
No. of Shares
440 440 440 As on No. of Shares Bonus Ratio post Bonus Issue
330 01 Aug 1991 4,66,144 1:1 9,32,288
220 26 Jul 1994 9,32,288 5:1 55,93,728
134
10 Nov 1997 55,93,728 1:1 1,11,87,456
01 Nov 2000 1,11,87,456 1:1 2,23,74,912
13 Jun 2023 2,20,24,912 1:1 4,40,49,824
FY21 FY22 FY23 FY24 FY25 FY26
58
Committed to Giving Back to the Society
Govt. Girls Sr. Sec. School, Tijara Tree Plantation Drive Awards from Rajasthan Govt.
Annual CSR Spend (Rs Million)
111
Before After
Education Environment Health & Education 81
Mobile Medical Van, Pathredi Work & Award in Prosthetics Dispensary In Bhiwadi 52
Healthcare Healthcare Healthcare
FY24 FY25 FY26
Some other activities under CSR: Beneficiaries of CSR Projects
% beneficiaries from
SetupSTEMLabs/SMART Classes in6GovernmentSchoolsinVillagesbenefitting1,500+children
vulnerable &
Self-Defence training(KarateClasses) to1,200+studentsinGhaziabad CSR Project No. of Beneficiaries marginalized
ProvidingfreeProstheticlimbsto350+peopleacross India groups
OrganisedHealthCampsProvidingEyeCare/ECG/Orthopaedic/Gynae- Paediatric carebesides
Environment Preservation 15,000+ 60%
generalCheck-up inGhaziabad inpartnershipwithhospitalsattendedby1,600+patients
Healthcare 3,00,000+ 90%
Shriram Bhartiya KalaKendra:InstitutiondedicatedtopromotingIndianclassical dance,music&theatre
Education 3,500 100%
ProjectSashakt:empowered 50womenbyprovidingthementrepreneurship &trainingsupport
Running5dispensariesinGhaziabad, 2inPathredi,1inNeemrana and1inNewDelhi Rural Development 2,000 80%
35BedHospital/OT/Medicines for400+oldage/Dementia/ Alzheimer'spatients Self-defence Training 1200 90%
TreePlantation Drive–20,000+treeswereplantedinGhaziabad,Neemrana, Pithampur andPathredi Vocational Skills Initiatives 200 100%
SetupFlooraccommodating Productionunit/FitmentCentreinProstheticHospitalprovidingfreeservice
Sanitation Initiatives 1,000 100%
to4,000+patientsfromacross India
Female Hygiene Camps 1,000+ 100%
59