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SHRIPISTON · price
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SPR Auto Technologies (formerly Shriram Pistons & Rings) reported record FY26 results with consolidated total income of INR 4,571 crores (25% YoY growth) and highest ever EBITDA of INR 989 crores (18% YoY growth). The company completed strategic acquisitions of Antolin Group (3 entities) and Karna Intertech during the year. Diversification is progressing well with 35% of Q4 revenue from powertrain-agnostic businesses and 60% of total business now not directly impacted by powertrain changes. Management announced plans to raise INR 1,000 crores via QIP for both organic growth and future acquisitions. The Antolin business had 9-10% EBITDA margins which management expects to improve toward standalone levels (20%+) through synergies, targeting improvement in under 3 years. Capex guidance is around INR 200 crores annually for the next 2-3 years.
Strong execution with diversification strategy showing results; raised capital provides flexibility for acquisitions while near-term margin pressure from acquired businesses but clear roadmap to improve profitability within 3 years.