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Swing Capital

Shriram Pistons & Rings Ltd

NSE: SHRIPISTON BSE: 544344

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]

₹3,347
52W: ₹2275 — ₹3767
PE 27.8 · Book ₹654 · +412% vs book
Market Cap₹14,742 Cr
Stock P/E27.8Price to Earnings
ROCE20.4%Return on Capital
ROE20.1%Return on Equity
Div. Yield0.3%Face Value ₹10

Strengths

  • +Company has delivered good profit growth of 43.3% CAGR over last 5 years

Shareholding Pattern

Promoters43.75%
FIIs7.65%
DIIs12.89%
Public35.71%
CategoryJun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Promoters46.75%43.75%▼3.043.75%43.75%43.75%43.75%43.75%43.75%
FIIs1.99%4.27%▲2.34.5%▲0.25.3%▲0.85.88%▲0.65.99%▲0.16.62%▲0.67.65%▲1.0
DIIs11.8%12.74%▲0.913.06%▲0.313.15%▲0.113.34%▲0.213.23%▼0.113.14%▼0.112.89%▼0.3
Public39.46%39.24%▼0.238.69%▼0.637.78%▼0.937.02%▼0.837.01%▼0.036.48%▼0.535.71%▼0.8

Financial Statements

MetricDec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Sales708781761794770855836873865953
Expenses553612605627607665660690687746
Operating Profit155169156167163190176183178207
OPM %22%22%21%21%21%22%21%21%21%22%
Net Profit108121114125120138130134115135
EPS ₹24.5527.3725.9528.2927.3131.4429.4730.426.0830.67

AI Insights

Revenue Trend

Mar 2026 revenue at ₹3,527Cr, up 10.9% YoY. OPM at 21%.

Debt Position

Borrowings at ₹1,732Cr. Debt-to-equity ratio: 0.61x. Moderate leverage.

Capex Cycle

CWIP at ₹18Cr (3% of fixed assets). Moderate ongoing capital expenditure.

Institutional Flow

DIIs: 12.89% (+3.30pp change). FIIs: 7.65% (+7.62pp change). Promoters hold 43.75%.

Margin & Efficiency

ROCE improving from 12% (Mar 2015) to 20% (Mar 2026). Working capital days: 4.

Valuation

PE 27.8x with 20.4% ROCE. Price is 412% above book value of ₹654. Dividend yield: 0.3%.

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