SPR Auto Technologies logo

SPR Auto Technologies

SHRIPISTON NSE

Key Fundamentals

SmallcapAuto ComponentsAutomobiles
Market Cap
₹20,982 Cr
Volatility
Moderate
P/E Ratio
35.1
EBITDA
₹989 Cr
Return on Equity
18.6%
Debt to Equity
0.68
Book Value
₹838.91
EPS
₹103.54
52W High
₹4,843
52W Low
₹2,525.8

Tapetide Score

Data-driven rating, 0–100. How it works →

Key Insights

Strengths

2
  • Company is expected to give good quarter
  • Company has delivered good profit growth of 45.1% CAGR over last 5 years

Weaknesses

2
  • Promoter holding has decreased over last quarter: -2.20%
  • Company might be capitalizing the interest cost

Growth Rate

Revenue Growth
24.86% higher than 3Y
Net Income Growth
8.88% lower than 3Y
Cash Flow Change
43.89% higher than 3Y
ROE
-9.88% lower than 3Y
ROCE
-29.33% higher than 3Y
EBITDA Margin (Avg.)
-5.3% higher than 3Y

AI Analysis — Bull vs Bear

5d ago
AI opinion · based on fundamentals
Risk medium

SPR Auto Technologies Ltd (SHRIPISTON) has a market capitalisation of about ₹21,131 Cr and trades at a P/E of 36.5 and a P/B of 5.4, with ROE of 21% last year and 23% on a 3-year average. Sales grew 35% on a TTM basis, but profit grew only 11% over the same period, compared with a 45% profit CAGR over 5 years. The stock has returned a 67% CAGR over 3 years and 79% over the past year, well ahead of its 3-year profit CAGR of 25%.

Bull Case 7
  • Profit has compounded at 45% CAGR over the last 5 years, well ahead of the 23% 5-year sales CAGR, which points to strong operating leverage and margin expansion over that period.
  • Returns on equity have been high and are improving: 23% over 3 years, 21% over 5 years and 18% over 10 years, with 21% in the last year.
  • Top-line growth is speeding up. TTM sales growth of 35% is above the 3-year sales CAGR of 20% and the 10-year CAGR of 12%.
  • Growth has held up over a long period, with 10-year profit CAGR at 20% and 10-year sales CAGR at 12%, which shows consistency beyond one cycle.
  • The 3-year profit CAGR of 25% is still above the 20% 3-year sales CAGR, so margins have improved over the medium term despite the recent slowdown.
  • The company is flagged as expected to post a good quarter, which could support near-term earnings momentum after the 11% TTM profit growth.
  • With a market cap of about ₹21,131 Cr, the company has the scale of a large mid-cap auto component supplier, which could support institutional participation and liquidity.
Bear Case 7
  • TTM profit growth of 11% lags far behind TTM sales growth of 35%, which suggests recent margin compression or rising costs such as acquisition integration, depreciation or interest.
  • Valuation is demanding: a P/E of 36.5 and P/B of 5.4 (another data point cites 7.21x book value) against TTM profit growth of just 11%.
  • The stock has run ahead of fundamentals. Its 3-year CAGR of 67% compares with a 3-year profit CAGR of 25%, and the 1-year return of 79% compares with 11% TTM profit growth, which points to a significant valuation re-rating.
  • Promoter holding fell by 2.20% over the last quarter, which is a governance and sentiment signal to monitor.
  • The company may be capitalising interest cost, which could flatter reported profit and understate the true cost of debt-funded expansion.
  • Dividend yield is low at 0.22%, so shareholder returns depend almost entirely on price appreciation.
  • The 5-year profit CAGR of 45% partly reflects a low base. The 10-year profit CAGR is lower at 20% and the 10-year sales CAGR is 12%, so the recent pace may be hard to sustain.

This is AI-generated analysis, not financial advice. Do your own due diligence.

AI News Digest

22h ago
Headwinds 4
  • EBITDA margin compression continues Sep 19

    Q1FY27 consolidated EBITDA margin fell to 19.2% from 22.5% a year earlier, after FY26 margin slipped to 19.6% from 20.4%. Management blamed supply-chain disruptions, higher commodity costs and a larger share of lower-margin subsidiaries like Antolin.

  • Leverage jumps after Antolin deal Sep 19

    ₹1,000 crore of NCDs raised to fund the Antolin acquisition took consolidated debt-to-equity to 0.62x in FY26 from 0.19x in FY25. Q1FY27 finance costs rose to ₹34.2 crore from ₹9 crore a year earlier.

  • Rich valuation at 36x earnings Sep 19

    The stock trades at about 36 times earnings, which already prices in better profitability from the diversified segments. That leaves little room for slips in execution or margins.

  • Equity dilution via ₹1,000 cr QIP Sep 19

    The August QIP allotted 23,36,448 shares at ₹4,280 each to raise ₹1,000 crore. This dilutes existing shareholders, though it strengthens the balance sheet.

Positives 5
  • Strong revenue growth momentum Sep 19

    FY26 consolidated revenue rose 25.6% to ₹4,458.7 crore and EBITDA grew 21% to ₹876.1 crore. Q1FY27 revenue grew 53.1% YoY to ₹1,474.4 crore, with EBITDA up 26.6% to ₹282.8 crore.

  • Powertrain-agnostic diversification gains scale Sep 19

    Powertrain-agnostic products now make up more than 35% of consolidated revenue. Subsidiaries' share reached 34.5% in Q4FY26, up from 15.5% in Q3FY26 and 13.5% a year earlier.

  • Antolin margins improving post-acquisition Sep 19

    Antolin added ₹337 crore of revenue in Q4FY26 at 9.6% EBITDA margin (₹32.2 crore). Management says margins of the acquired businesses have improved from 7-8% to the early and mid-teens.

  • EV business scaling up Sep 19

    SPR EMF Innovations doubled its turnover last year, and the Coimbatore facility should contribute for the full year in FY27. Technology tie-ups with Wuxi Lingbo (controllers) and Shenzhen Greatland (motors) support the EV push.

  • Sustained ₹200 cr capex plan Sep 19

    About ₹200 crore was invested in capacity expansion in FY26. The company plans similar annual investment over the next 2-3 years across its businesses.

Neutral 2
  • Shareholder vote on Shukla directorship Sep 22

    A postal ballot was filed to appoint Arun Kumar Shukla as Director. E-voting runs from September 23 to October 22, 2026.

  • NCD interest record date set Sep 7

    A record date was announced for interest on the listed Series I and II NCDs. Holders will be paid on September 30, 2026.

TL;DR: SPR Auto Technologies is growing fast, with FY26 revenue up 25.6% and Q1FY27 revenue up 53.1%, helped by the Antolin acquisition and a growing EV-components business that reduces its reliance on pistons. The main risks are falling margins (19.2% in Q1FY27 vs 22.5% a year earlier), finance costs that have nearly quadrupled, and a demanding 36x P/E. The ₹1,000 crore QIP should ease balance sheet pressure. The outlook depends on whether Antolin margins keep moving into the mid-teens and the Coimbatore EV facility delivers in FY27.

Quarterly Results

Particulars Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales
716
752
766
856
837
876
848
988
963
1,016
1,023
1,456
1,474
Expenses
570
594
604
679
672
699
677
778
768
809
817
1,188
1,216
Operating Profit
146
158
161
177
165
178
170
210
195
207
206
268
258
OPM %
20%
21%
21%
21%
20%
20%
20%
21%
20%
20%
20%
18%
18%
Other Income
19
23
19
24
26
30
27
27
28
26
8
23
25
Interest
6
7
8
9
9
9
8
8
9
8
12
33
34
Depreciation
23
22
29
34
30
31
31
28
32
33
33
52
53
PBT
136
151
143
158
154
168
159
201
183
192
169
206
195
Tax %
26%
25%
25%
26%
24%
25%
24%
25%
26%
26%
26%
23%
24%
Net Profit
101
113
108
116
117
126
121
152
135
142
126
159
148
EPS in Rs
23.17
25.8
24.37
27.15
26.22
28.33
27.2
33.26
30.35
31.76
27.92
35.48
32.78
Figures in ₹ Crores

Profit & Loss

Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales
1,244
1,393
1,463
1,729
1,955
1,607
1,597
2,065
2,609
3,089
3,550
4,459
4,970
Expenses
1,054
1,161
1,207
1,436
1,660
1,425
1,381
1,760
2,149
2,447
2,826
3,583
4,031
Operating Profit
190
232
255
293
295
182
216
304
460
642
724
876
939
OPM %
15%
17%
17%
17%
15%
11%
14%
15%
18%
21%
20%
20%
19%
Other Income
17
18
26
24
22
20
19
29
47
85
111
85
82
Interest
32
26
20
16
14
12
13
11
19
30
34
62
87
Depreciation
96
93
90
90
94
103
103
102
95
108
120
149
170
PBT
79
131
171
211
209
86
120
220
393
589
682
751
763
Tax %
28%
30%
31%
34%
34%
15%
26%
26%
25%
26%
24%
25%
—
Net Profit
57
92
118
139
138
73
89
164
294
439
516
561
575
EPS in Rs
12.82
20.5
26.42
31.07
30.97
16.34
19.85
37.18
66.7
100
115
125
128
Div. Payout %
14%
10%
13%
16%
16%
18%
15%
13%
11%
10%
9%
8%
—
Figures in ₹ Crores

Balance Sheet

Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital
22
22
22
22
22
22
22
22
22
44
44
44
Reserves
585
673
772
891
1,004
1,048
1,126
1,233
1,505
1,882
2,350
2,857
Borrowings
310
289
226
179
97
135
146
157
333
487
508
1,968
Other Liabilities
272
308
334
398
445
352
409
438
512
723
821
1,273
Total Liabilities
1,189
1,292
1,354
1,491
1,568
1,558
1,704
1,850
2,373
3,136
3,723
6,142
Fixed Assets
667
597
577
555
613
741
703
689
733
934
1,203
2,976
CWIP
4
6
9
11
17
19
8
6
5
31
58
96
Investments
0
18
8
20
6
61
34
32
72
115
36
135
Other Assets
518
672
760
904
934
737
959
1,124
1,563
2,056
2,425
2,935
Total Assets
1,189
1,292
1,354
1,491
1,568
1,558
1,704
1,850
2,373
3,136
3,723
6,142
Figures in ₹ Crores

Cash Flow

Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating
129
255
183
175
157
297
190
219
395
487
434
625
Investing
-45
-67
-55
-65
-157
-214
-10
-56
-209
-422
-385
-1,815
Financing
-111
-113
-89
-88
-61
-111
-28
-91
53
-42
-61
1,252
Net Cash Flow
-27
75
39
21
-62
-28
152
72
240
23
-11
63
Free Cash Flow
85
205
111
104
-18
126
145
158
273
340
266
437
CFO/OP
81
128
92
84
76
182
99
91
108
100
83
91
Figures in ₹ Crores

Ratios

Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days
63
58
59
68
66
54
74
63
55
56
60
68
Inventory Days
196
175
213
190
184
182
175
155
113
114
116
111
Days Payable
129
157
185
178
144
144
184
142
115
104
101
121
Cash Conversion Cycle
130
75
87
80
107
92
65
75
53
66
75
58
Working Capital Days
44
36
38
41
64
44
44
44
27
21
29
1
ROCE %
12%
16%
19%
21%
20%
8%
11%
17%
25%
28%
26%
21%

Insights

Beta

AI-extracted from concalls & annual reports · figures as reported, with sources

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Shareholding Pattern

FIIs8.21%Promot.43.75%Public10.99%DIIs12.17%Others24.88%As ofJun 2026

Documents

Frequently Asked Questions about SPR Auto Technologies

What does SPR Auto Technologies Ltd do?
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.[1]
Where is SPR Auto Technologies Ltd (SHRIPISTON) listed?
SPR Auto Technologies Ltd trades as SHRIPISTON on the NSE and under code 544344 on the BSE.
Which sector does SPR Auto Technologies Ltd belong to?
SPR Auto Technologies Ltd is classified under the Automobiles sector, in the Auto Components industry.
What is the market capitalisation of SPR Auto Technologies Ltd?
SPR Auto Technologies Ltd has a market capitalisation of ₹20,982 Cr, which places it in the Large Cap band.
What is the PE ratio of SPR Auto Technologies Ltd?
SPR Auto Technologies Ltd trades at a PE ratio of 35.10, on earnings per share of ₹103.54, against a book value of ₹838.91 per share.
What is the 52-week high and low of SPR Auto Technologies Ltd?
Over the last 52 weeks SPR Auto Technologies Ltd has traded between ₹2,525.8 and ₹4,843.
Does SPR Auto Technologies Ltd pay dividends?
SPR Auto Technologies Ltd has a dividend yield of 0.21%.
What is the Return on Equity (ROE) of SPR Auto Technologies Ltd?
SPR Auto Technologies Ltd reported a return on equity of 18.60%. Its debt-to-equity ratio is 0.68.

Company Information

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.[1]

Website shrirampistons.com
Listed 2016-06-02
Face Value ₹ 10
Issued Size 4,40,49,824

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