Read the quarter in context.
A source-linked quarter view: reported numbers, management language, guidance, and the risks that should carry forward.
ConCallIQ research layer
Signal, with the source still visible.
Use the controls below to narrow the view, then follow the evidence into the next layer of context.
Revenue
₹1,456 Cr
verified against source
Revenue YoY
25%
reported change
EBITDA
₹989 Cr
latest reported figure
Source
screener in
record provenance
Actual signal trajectory
Where this quarter sits.
Quarter read
What the record says.
SPR Auto Technologies (formerly Shriram Pistons & Rings) reported a record FY26 with consolidated revenue of ₹4,571 crore (+25% YoY) and EBITDA of ₹989 crore (+18% YoY), driven by strong automotive demand across all segments and contributions from the Antolin acquisition (closed Jan 2026). The legacy business grew ~11% YoY, outpacing the market. Power-train-agnostic businesses now contribute 35% of revenue, with 60% of total business not directly impacted by powertrain shifts. Management guided for continued capex of ~₹200 crore annually over the next 2-3 years and aims to improve Antolin's margins from ~10% to near-standalone levels within 3 years via synergies. A ₹1,000 crore QIP is planned for organic and inorganic growth. Key risk: commodity price pass-through has a one-quarter lag, which could temporarily pressure margins if input costs continue rising.
Colored figures show movement against the previous available record.
Guidance to track
- Management expects to maintain similar capex levels as FY26 (~₹200 crore) over the next 2-3 years for capacity expansion across businesses.
- Management aims to improve Antolin's EBITDA margins from ~10% to near standalone levels (20%+) within 3 years through synergies and insourcing.
- Company plans to raise ₹1,000 crore via QIP to fund both organic capacity expansion and potential acquisitions.
Risks flagged
- Commodity price increases (e.g., aluminium up 40%) are passed through to customers but with a one-quarter lag, potentially squeezing margins temporarily.
- Exports remained flat due to ongoing conflicts in Ukraine and Middle East, with no immediate recovery visibility.
- While management targets margin improvement within 3 years, customer approvals and synergy realization could delay the timeline.
Key quotes
- All the strategic initiatives that the company has taken in the past few years are yielding good results on a sustainable basis.
- We are confident that this positive trajectory will continue as we leverage our strengths and scale our operations.
- We have got excellent contacts with all the customers and we have been working on various programs for the customers.
Research modules