Shriram Pistons & Rings Ltd announces Definitive Agreement to acquire 100% stake in Antolin Group's Indian Operations

Shriram Pistons & Rings Limited (herein referred to as "SPRL"), India's leading pistons, piston pins, piston rings and engine valves manufacturer; and a prominent player in high-precision injection moulded components and EV motors & controllers, today announced a definitive agreement to acquire 100% shareholding in Antolin Lighting India Private Limited (ALIPL), Grupo Antolin India Private Limited (GAIPL), and Grupo Antolin Chakan Private Limited (GACPL), a subsidiary of GAIPL, subject to terms and conditions in the Share Purchase Agreement (SPA). Collectively, these companies represent some of the leading providers of advanced interior solutions to the automotive industry.

This acquisition, valued at approximately Rs. 16,700 Million on a debt-free, cash-free basis, marks a pivotal step in SPRL's long-term strategy to diversify beyond the traditional ICE powertrain components. By entering the fast-growing automotive interiors segment, SPRL strengthens its leadership position and future-proofs its portfolio against evolving industry trends.

The Target Companies bring a robust portfolio of interior solutions, including headliner substrates, modular headliners, sunvisors, door panels, centre floor consoles, pillar trims, front-end carriers (exterior plastic parts), overhead consoles, dome lamps, and ambient lighting systems, touch panels, capacitive pads, etc.

With five state-of-the-art manufacturing facilities across Chakan (2), Pune (2), and Chennai (1), the Target Companies serve major OEMs across India and contribute annual revenues of approximately Rs. 11,791 Million. Their strong financial performance and established customer base are expected to immediately be value-accretive to SPRL's consolidated results.

As part of the transaction, SPRL will enter into a long-term Technology Licensing Agreement with Grupo Antolin, ensuring continued access to cutting-edge technologies, global best practices, and support for new product development. This collaboration will enable SPRL to deliver world-class quality and innovation to its customers while seamlessly integrating Antolin's proven expertise.

The transaction is expected to be completed by January 2, 2026, subject to customary approvals and conditions outlined in the Share Purchase Agreement.

Speaking about the acquisition, Mr. Krishnakumar Srinivasan, Managing Director & CEO, said: "I am delighted to announce that the Company has entered into a Share Purchase Agreement to acquire 100% stake in the Antolin Group's companies in India. These acquisitions present a strategic opportunity for SPRL to mark its foray into the automotive interior solutions segment and significantly enhance its competitive edge in auto components industry.

This acquisition builds on SPRL's recent string of strategic investments to diversify its business, including investments in TGPEL, EMFi, and Takahata, which are all companies focused on manufacturing powertrain agnostic products in the automotive industry and beyond.

Furthermore, the acquisition positions SPRL to leverage synergies in operations and technology, ultimately driving efficiency and profitability. Overall, this strategic growth initiative is expected to strengthen SPRL's long-term sustainability and success in a rapidly evolving landscape."

Shares of Shriram Pistons & Rings Limited was last trading in BSE at Rs. 2837.25 as compared to the previous close of Rs. 2621.55. The total number of shares traded during the day was 154758 in over 9951 trades.

The stock hit an intraday high of Rs. 2880.45 and intraday low of 2639.00. The net turnover during the day was Rs. 436387524.00.

Source : Equity Bulls

Keywords

ShriramPistonsandRings INE526E01018 Acquisition AntolinGroup IndiaOperations