Shriram Pistons & Rings Ltd., India’s leading pistons, piston pins, piston rings and engine valves manufacturer, announced the financial results for the Q3 ended 31st December 2024.
Speaking about the performance and recent updates, Krishnakumar Srinivasan, Managing Director & CEO, said: “SPRL has maintained its strong growth pace and registered a consolidated total income growth of 11.5% YoY in Q3FY25 and 15.3% in 9MFY25 YoY. This is a testament to our strong positioning in the industry with a dominant presence in OEM market and a major foothold in aftermarkets.
We have continued to outgrow the overall automobile industry growth, which has grown marginally, by low-single digit in 9MFY25. The Passenger Vehicles segment witnessed nominal growth, while 2- wheelers segment continued growing in double-digits. We have been able to maintain the consolidated EBITDA margins at approximately 23.0% in Q3 & 9M FY25. On the profitability front, we have registered YoY growth of 12.3% and 13.0%, during Q3 & 9MFY25, respectively.
In line with our overall long-term growth strategy to diversify in areas agnostic to ICE Powertrain, we have acquired TGPEL Precision Engineering Limited (TGPEL), during the quarter. This acquisition will strengthen our position in manufacturing of high precision injection moulded components and complement our earlier acquisition of SPRL Takahata very well. TGPEL has two state-of-the-art manufacturing facilities located in Noida, Utar Pradesh for Automotive, Electrical, Consumer Goods and Medical segments both in India and abroad.
With the global automotive leaders downplaying their growth, and the domestic players facing reduced enthusiasm recently amidst slowdown, we are confident that this temporary setback will correct in the near term. Moreover, we remain optimistic about the long-term growth opportunities that the Indian Auto industry presents. We are well positioned to capture these growth opportunities and our various strategic initiatives to diversify our product portfolio, coupled with our leading position in the market will ensure long-term success for the company.”
Q3FY25
- Total Income grew by 5% YoY, to record Rs. 8,751 Million as against Rs 7,850 Million in Q3FY24
- EBITDA stood at 1,978 Million in Q3FY25, up by 9.6% YoY. EBITDA Margin was at 22.6% in Q3FY25
- PAT of 1,210 Million registered a growth of 12.3%, with PAT Margin at 13.8% in Q3FY25
9MFY25
- Total Income registered a growth of 15.3% YoY, at Rs. 26,454 Million as against Rs 22,951 Million in 9MFY24
- EBITDA recorded at Rs. 5,979 Million in 9MFY25, up by 13.6% YoY. EBITDA Margin stood at 22.6% in 9MFY25
- PAT of 3,640 Million up 13.0% YoY, with PAT Margin at 13.8%
Q3FY25
- Total Income at 7,956 Million, up by 9.4% YoY, from Rs. 7,271 Million in Q3FY24
- EBITDA grew by 8% to Rs. 1,889 Million in Q3FY25 from Rs. 1,736 Million in Q3FY24. EBITDA Margin stood at 23.7% in Q3FY25
- PAT of 1,204 Million registered a growth of 11.3%, with PAT Margin at 15.1%
9MFY25
- Total Income registered a growth of 7.7% YoY, at Rs. 24,041 Million as against Rs 22,321 Million in 9MFY24
- EBITDA recorded at 5,654 Million in 9MFY25, up by 8.6% YoY. EBITDA Margin stood at 23.5%
- PAT of 3,593 Million up 10.1% YoY, with PAT Margin at 14.9%
