SHRIRAM PISTONS AND RINGS

Shriram Pistons and Rings Ltd

Shriram Pistons is one of the largest manufacturers of engine components in India, supplying pistons, rings, and related parts to OEMs in the auto and industrial engine segment.

Role in the Auto Supply Chain

It plays a crucial role in the Indian auto manufacturing supply chain and is a beneficiary of Make in India, especially as global players look to de-risk China dependency. With upcoming BS-VI norms and EV shift, the company is undergoing technological modernization to remain relevant.

Challenges and Risks

The auto component industry is cyclical, and Shriram’s fortunes are tied to vehicle production volumes, especially commercial vehicles. Margin pressures due to raw material costs and evolving technology (shift to EVs) pose threats to legacy component makers.

Investment Perspective

However, with a clean balance sheet, long-term OEM relationships, and steady cash flow, Shriram Pistons remains a key industrial manufacturing bet—especially for investors looking at the broader India manufacturing and auto theme.