SPR Auto Technologies LimitedQ1 FY27 Results & Financial Update
SPR Auto Technologies Limited: Q1 FY27 consolidated results and company financials – total income ₹1,499.20 Cr, PAT ₹147.60 Cr. Explore reported YoY/QoQ movements, margins, business drivers and management commentary. This page does not provide a rating, target price or investment recommendation.
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Quarterly Results AnalysisExplore SPR Auto Technologies Q1 FY27 quarterly results and earnings: revenue, profit (PAT), EBITDA, margins, YoY and QoQ growth, order book or business updates where reported, financial performance and management commentary. Reported figures and Nivata calculations are shown separately; no buy, sell or hold recommendation is provided.
Quarter overview
Quarterly earnings analysis
SPR Auto Technologies delivered a strong performance in Q1 FY27, maintaining robust business momentum despite an adverse operating environment marked by heightened geopolitical tensions, supply chain disruptions, and upward pressure on commodity prices.
On a consolidated basis, Total Income grew by 51.2% year-on-year to Rs. 14,992 million (Rs. 1,499.2 crore), supported by strong performance across legacy businesses and the consolidation of newly acquired auto interior solutions and lighting businesses.
Consolidated EBITDA reached Rs. 2,828 million (Rs. 282.8 crore), reflecting a 26.6% year-on-year growth and an EBITDA margin of 18.9%. Geopolitical disruptions and commodity price movements impacted EBITDA by an estimated Rs. 300 million during the quarter.
Standalone Total Income grew by 11.7% year-on-year to Rs. 9,627 million, while standalone EBITDA remained resilient at Rs. 2,020 million with an EBITDA margin of 21.0%.
Finance costs increased significantly due to borrowings raised to fund the Antolin acquisition (elevated by Rs. 252 million on a consolidated basis and Rs. 229 million on a standalone basis), which management noted is a temporary effect expected to normalize upon debt repayment.
Consolidated Profit Before Tax (PBT) before exceptional items grew by 6.7% year-on-year to Rs. 1,952 million, and Consolidated Profit After Tax (PAT) increased by 9.4% year-on-year to Rs. 1,476 million, resulting in a PAT margin of 9.8%.
The company advanced its strategic capacity expansion during the quarter by completing the acquisition of piston manufacturing lines from Sunbeam Lightweighting Solutions, bolstering manufacturing capacity and operating efficiency.
01 · Business model
What does SPR Auto Technologies do?
SPR Auto Technologies Limited (formerly known as Shriram Pistons & Rings Limited) is a leading Indian automotive component manufacturer with over five decades of operational history.
The company specializes in manufacturing core legacy products such as pistons, piston pins, piston rings, and engine valves, serving both domestic and international OEMs and aftermarket channels across commercial vehicles, passenger vehicles, farm equipment, off-highway, and industrial applications.
SPR operates a manufacturing footprint comprising 14 plants, 8 assembly units, and a state-of-the-art research and development technology centre approved by the Department of Scientific and Industrial Research (DSIR).
Through strategic acquisitions including SPR EMF Innovations, SPR Takahata, SPR TGPEL, Karna Intertech, and recent additions in automotive interior and lighting solutions, the company has diversified into powertrain-agnostic domains like EV motors and controllers, high-precision plastic injection moulded parts, and automotive interior systems.
02 · Historical context
What shaped the business before this quarter
Founded in 1972 with a technology partnership for pistons with Kolbenschmidt, Germany, the company built long-standing technology tie-ups with global leaders such as Riken Corporation, Honda Foundry, and Fuji Oozx.
The company was previously listed on the National Stock Exchange of India (NSE) in 2016 and expanded its stock exchange presence by listing on BSE in 2025.
In FY26, the company expanded significantly by acquiring 100% stakes in Karna Intertech, SPR Auto Interior Lighting Solutions, SPR Auto Interior Solutions, and SPR Auto Interior Solutions Chakan, and subsequently changed its name to SPR Auto Technologies Limited.
03 · Financial snapshot
Current-quarter financial snapshot
| Metric | Q1 FY27 |
|---|---|
| Total income | ₹1,499.20 Cr |
| EBITDA | ₹282.80 Cr |
| Profit before tax | ₹195.20 Cr |
| Profit after tax | ₹147.60 Cr |
| EPS | ₹32.78 |
| EBITDA margin | 18.90% |
04 · Why it moved
Why the quarter looked the way it did
What drove revenue
Consolidated total income expansion was driven by strong underlying performance across core automotive businesses as well as the successful consolidation of newly acquired automotive interior solutions and lighting operations.
Standalone total income grew by 11.7% year-on-year to Rs. 9,627 million, supported by healthy domestic automotive sales volumes and sustained market leadership in legacy engine components.
What drove margins
Geopolitical tensions and commodity price fluctuations created cost headwinds, impacting consolidated EBITDA by approximately Rs. 300 million during the quarter.
Consolidated finance costs rose to Rs. 342 million (from Rs. 90 million in Q1 FY26) due to debt raised to finance the Antolin acquisition, temporarily compressing profit margins before exceptional items.
05 · Demand, customers & order book
Where demand is coming from
The company maintained robust relationships with over 1,200 business partners and major global automotive original equipment manufacturers across commercial vehicles, passenger vehicles, farm equipment, and two-wheelers.
06 · Segments, products & geography
Which parts of the business are doing the work
Segments and products
Powertrain-agnostic products, including high-precision plastic components, EV motors and controllers, and automotive interior solutions, now contribute over 35% of consolidated total revenue.
Geography and market mix
The company maintained its leading position in export markets across 30+ countries, driven by increased penetration into new segments and geographies.
07 · Capacity, projects & execution
What is being built, commissioned or delivered
Projects, capex and execution
The company continued to advance its capacity expansion initiatives and integration processes across recently acquired entities to capture long-term synergies.
08 · Strategy & new businesses
How the company is trying to change its growth mix
Management reported strong progress in integrating the acquired Auto Interior Solutions and Lighting businesses, implementing key operational processes and driving synergies.
09 · Reported developments
What changed operationally
Delivered a 51.2% year-on-year increase in consolidated total income to Rs. 14,992 million and a 26.6% increase in consolidated EBITDA despite adverse macroeconomic conditions.
10 · Pressure points & risks
What is not going smoothly
Heightened geopolitical tensions, supply chain disruptions, and rising commodity prices exerted pressure on operating margins and created an adverse operating environment.
11 · Cash flow & balance sheet
Profit is one thing. Cash and funding tell another part of the story.
Capital allocation & funding
Borrowings increased in prior periods to fund strategic acquisitions such as the Antolin business via non-convertible debentures, leading to higher interim finance costs.
12 · Beyond the numbers
What changed beyond the numbers
Reported update
Name Change
The company formally operates under its new name, SPR Auto Technologies Limited, following approval reflecting its expanded technological scope beyond pistons and rings.
13 · Key Q&A
The quarter, answered directly
What does SPR Auto Technologies do?
SPR Auto Technologies Limited (formerly known as Shriram Pistons & Rings Limited) is a leading Indian automotive component manufacturer with over five decades of operational history.
What is the clearest takeaway from Q1 FY27?
SPR Auto Technologies delivered a strong performance in Q1 FY27, maintaining robust business momentum despite an adverse operating environment marked by heightened geopolitical tensions, supply chain disruptions, and upward pressure on commodity prices.
What drove revenue or demand?
Consolidated total income expansion was driven by strong underlying performance across core automotive businesses as well as the successful consolidation of newly acquired automotive interior solutions and lighting operations.
What mattered most for margins or profitability?
Geopolitical tensions and commodity price fluctuations created cost headwinds, impacting consolidated EBITDA by approximately Rs. 300 million during the quarter.
What changed operationally beyond the headline numbers?
The company continued to advance its capacity expansion initiatives and integration processes across recently acquired entities to capture long-term synergies.
What are the main pressure points disclosed for the quarter?
Heightened geopolitical tensions, supply chain disruptions, and rising commodity prices exerted pressure on operating margins and created an adverse operating environment.
14 · Scenario calculator
Earnings sensitivity: what if growth and margins change?
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15 · Next filing checkpoints
What the next disclosure can confirm or change
- 01
Debt Normalization: Monitor the pace of debt repayment and the subsequent normalization of elevated finance costs arising from acquisition-related borrowings.
- 02
Integration Synergy: Track the realization of operational synergies and financial contributions from the newly integrated automotive interior solutions and lighting subsidiaries.
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