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Last Updated: April 2, 2026, 3:40 am
Author: Getaka|Social: XLinkedIn
Stock Ticker - BSE: | NSE:

Shriram Pistons & Rings Ltd: Intrinsic Value & Share Price Analysis

Fair Value

₹2,643.53Overvalued by 12.61%vs CMP ₹3,025.00

P/E (23.7) × ROE (23.2%) × BV (₹599.00) × DY (0.33%)

₹1,772.27Overvalued by 41.41%vs CMP ₹3,025.00
MoS: -70.7% (Negative)Confidence: 58/100 (Moderate)Models: 1 Under, 1 Fair, 7 Over
ModelCategoryValueWeightSignal
PE-ROEEarnings₹3,359.7623%Under (+11.1%)
Graham NumberEarnings₹1,289.0517%Over (-57.4%)
Earnings PowerEarnings₹687.1011%Over (-77.3%)
DCFCash Flow₹2,963.4811%Fair (-2%)
Net Asset ValueAssets₹598.607%Over (-80.2%)
EV/EBITDAEnterprise₹1,410.809%Over (-53.4%)
Earnings YieldEarnings₹1,232.907%Over (-59.2%)
ROCE CapitalReturns₹629.237%Over (-79.2%)
Revenue MultipleRevenue₹805.856%Over (-73.4%)
Consensus (9 models)₹1,772.27100%Overvalued
Key Drivers: EPS CAGR 27.1% lifts DCF — verify sustainability. | Wide model spread (₹599–₹3,360) — high uncertainty.

PE-ROE · Graham · EPV · DCF · NAV · EV/EBITDA · DDM · Earnings Yield · ROCE Capital · Revenue Multiple | CoE: 12% · Terminal: 4% · EPS CAGR: 27.1%

*Investments are subject to market risks

Investment Snapshot

78
Shriram Pistons & Rings Ltd scores 78/100 (Strong)
Based on 5 dimensions: health, institutional flow, earnings quality, momentum, and peer comparison
Stock Health92/100 · Strong
ROCE 25.7% ExcellentROE 23.2% ExcellentD/E 0.08 Low debtInterest Coverage 0.0x RiskyProfitable 5/5 years Consistent
Smart Money70/100 · Strong
FII holding up 1.32% (6mo) AccumulatingPromoter holding at 43.8% Stable
Earnings Quality65/100 · Strong
OPM expanding (17% → 21%) Improving
Quarterly Momentum68/100 · Strong
Revenue (4Q): +17% YoY GrowingProfit (4Q): +16% YoY Positive
Industry Rank90/100 · Strong
P/E 23.7 vs industry 50.7 Cheaper than peersROCE 25.7% vs industry 16.5% Above peersROE 23.2% vs industry 14.3% Above peers3Y sales CAGR: 20% Moderate

Weights: Health 30% · Earnings Quality 25% · Momentum 20% · Industry Rank 15% · Smart Money 10%. Scores are computed from reported financials and recalculated daily. Not investment advice.

Shriram Pistons & Rings Ltd Investor Signals

Computed from valuation, cash flow, balance sheet, ownership and quarterly trend data already available in this stock page.

Value Trap Score
30/100
Low
Derived from: Cheapness + weak quality + weak cash support
Current data: P/E 23.7 vs Ind 50.7 | ROCE 25.7% | ROE 23.2% | CFO/NP N/A
Balance Sheet Stress
0/100
Comfortable
Derived from: Leverage + debt servicing + liquidity + debt trend
Current data: D/E 0.08x | IntCov 0.0x | Current 2.10x | Borrow/Reserve 0.21x
Cash Flow Reliability
14/100
Weak
Derived from: Cash backing of earnings + working capital pressure
Current data: CFO ₹0 Cr | NP ₹516 Cr | CFO/NP N/A
Ownership Accumulation
0
Neutral
Derived from: FII + DII + promoter direction, adjusted by crowding
Current data: FII +0.63 pp | DII -0.09 pp | Prom 0.00 pp
Business Momentum
-13
Watch closely
Derived from: Latest quarter sales + profit + OPM change
Current data: Q Sales +0.7% | Q NP -11.3% | Q OPM 0.0 pp
Derived FieldValueHow it is derived
Valuation Gap %-41.4%((Fair Value - CMP) / CMP) × 100
Borrowings / Reserves0.21xLatest borrowings divided by latest reserves
CFO / Net ProfitN/ALatest operating cash flow divided by latest net profit
FII Change+0.63 ppLatest FII% minus previous FII%
DII Change-0.09 ppLatest DII% minus previous DII%
Promoter Change0.00 ppLatest promoter% minus previous promoter%
Shareholder Count Change-2,064Latest shareholder count minus previous count
Quarterly Sales Change+0.7%Latest quarter sales vs previous quarter sales
Quarterly Profit Change-11.3%Latest quarter net profit vs previous quarter net profit
Quarterly OPM Change0.0 ppLatest quarter OPM minus previous quarter OPM

Share Price and Basic Stock Data

Last Updated: April 2, 2026, 3:40 am

Market Cap 13,326 Cr.
Current Price 3,025
Intrinsic Value₹1,772.27
High / Low 3,416/1,556
Stock P/E23.7
Book Value 599
Dividend Yield0.33 %
ROCE25.7 %
ROE23.2 %
Face Value 10.0
PEG Ratio0.87

Stock P/E, Current Price, and Intrinsic Value Over Time

View Share Price Target for Shriram Pistons & Rings Ltd

Competitors

Stock Name ⇩Market Cap ⇩Current Price ⇩High / Low ⇩Stock P/E ⇩Book Value ⇩Dividend Yield ⇩ROCE ⇩ROE ⇩Face Value ⇩
Shriram Pistons & Rings Ltd 13,326 Cr. 3,025 3,416/1,55623.7 5990.33 %25.7 %23.2 % 10.0
Sundram Fasteners Ltd 15,821 Cr. 753 1,080/74028.0 1930.96 %17.1 %14.9 % 1.00
Banco Products (India) Ltd 7,719 Cr. 540 880/30516.2 1142.78 %32.4 %32.2 % 2.00
Federal-Mogul Goetze (India) Ltd 2,326 Cr. 418 622/32012.2 2440.00 %19.6 %14.0 % 10.0
GNA Axles Ltd 1,625 Cr. 378 471/27014.6 2190.79 %14.3 %12.5 % 10.0
Industry Average11,137.67 Cr3,051.2150.72554.760.77%16.53%14.30%7.25

All Competitor Stocks of Shriram Pistons & Rings Ltd

Quarterly Result

MetricDec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Sales 6367017167527668568378768489889631,0161,023
Expenses 519566570594604679672699677778768809817
Operating Profit 117135146158161177165178170210195207206
OPM % 18%19%20%21%21%21%20%20%20%21%20%20%20%
Other Income 1216192319242630272728268
Interest 56678999889812
Depreciation 23242322293430313128323333
Profit before tax 100121136151143158154168159201183192169
Tax % 25%25%26%25%25%26%24%25%24%25%26%26%26%
Net Profit 7591101113108116117126121152135142126
EPS in Rs 17.0120.6723.1725.8024.3727.1526.2228.3327.2033.2630.3531.7627.92

Last Updated: February 4, 2026, 5:16 am

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: February 25, 2026, 8:16 pm

MetricMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025TTM
Sales 1,1701,2441,3931,4631,7291,9551,6071,5972,0652,6093,0893,5503,991
Expenses 9401,0541,1611,2071,4361,6601,4251,3811,7602,1492,4472,8263,173
Operating Profit 229190232255293295182216304460642724819
OPM % 20%15%17%17%17%15%11%14%15%18%21%20%21%
Other Income 101718262422201929478511190
Interest 38322620161412131119303438
Depreciation 101969390909410310310295108120125
Profit before tax 1017913117121120986120220393589682746
Tax % 31%28%30%31%34%34%15%26%26%25%26%24%
Net Profit 7057921181391387389164294439516554
EPS in Rs 15.5812.8220.5026.4231.0730.9716.3419.8537.1866.70100.47115.02123.29
Dividend Payout % 11%14%10%13%16%16%18%15%13%11%10%9%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2014-20152015-20162016-20172017-20182018-20192019-20202020-20212021-20222022-20232023-20242024-2025
YoY Net Profit Growth (%)-18.57%61.40%28.26%17.80%-0.72%-47.10%21.92%84.27%79.27%49.32%17.54%
Change in YoY Net Profit Growth (%)0.00%79.97%-33.14%-10.46%-18.52%-46.38%69.02%62.35%-5.00%-29.95%-31.78%

Shriram Pistons & Rings Ltd has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 11 years from 2014-2015 to 2024-2025.

Growth

Compounded Sales Growth
10 Years:11%
5 Years:17%
3 Years:20%
TTM:15%
Compounded Profit Growth
10 Years:24%
5 Years:48%
3 Years:46%
TTM:15%
Stock Price CAGR
10 Years:%
5 Years:56%
3 Years:86%
1 Year:17%
Return on Equity
10 Years:17%
5 Years:20%
3 Years:23%
Last Year:23%

Last Updated: September 5, 2025, 1:31 pm

Balance Sheet

Last Updated: December 4, 2025, 1:58 am

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Sep 2025
Equity Capital 22222222222222222222444444
Reserves 5385856737728911,0041,0481,1261,2331,5051,8822,3502,593
Borrowings 38131028922617997135146157333487508537
Other Liabilities 253272308334398445352409438551723821855
Total Liabilities 1,1941,1891,2921,3541,4911,5681,5581,7041,8502,4123,1363,7234,029
Fixed Assets 7136675975775556137417036897729341,2031,215
CWIP 9469111719865315864
Investments 001882066134327211536206
Other Assets 4725186727609049347379591,1241,5632,0562,4252,545
Total Assets 1,1941,1891,2921,3541,4911,5681,5581,7041,8502,4123,1363,7234,029

Reserves and Borrowings Chart

Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Cash from Operating Activity + 180129255183175157297190219395487434
Cash from Investing Activity + -65-45-67-55-65-157-214-10-56-476-422-385
Cash from Financing Activity + -101-111-113-89-88-61-111-28-9193-42-61
Net Cash Flow 14-27753921-62-28152721223-11
Free Cash Flow 11085205111104-18126145158273340266
CFO/OP 92%81%128%92%84%76%182%99%91%108%100%83%

Free Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Free Cash Flow-152.00-120.00-57.0029.00114.00198.0047.0070.00147.00127.00155.00216.00

Free Cash Flow = Income Generated from Operational Activities - Borrowings - Capital Work in Progress (CWIP)

Consistent positive free cash flow is crucial for businesses as it indicates their ability to generate cash from their core operations. It provides financial flexibility, allowing companies to invest in growth opportunities, pay dividends to shareholders, reduce debt, and weather economic downturns more effectively.

Free Cash Flow Chart

Financial Efficiency Indicators

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Debtor Days 566358596866547463555660
Inventory Days 197196175213190184182175155113114116
Days Payable 14912915718517814414418414297104101
Cash Conversion Cycle 104130758780107926575716675
Working Capital Days 334436384164444444272129
ROCE %15%12%16%19%21%20%8%11%17%24%28%26%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthMar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Promoters 46.75%46.75%46.75%46.75%46.75%46.75%43.75%43.75%43.75%43.75%43.75%43.75%
FIIs 0.00%0.03%0.08%1.07%1.35%1.99%4.27%4.50%5.30%5.88%5.99%6.62%
DIIs 10.05%9.59%9.29%13.07%12.55%11.80%12.74%13.06%13.15%13.34%13.23%13.14%
Public 43.20%43.63%43.88%39.11%39.35%39.46%39.24%38.69%37.78%37.02%37.01%36.48%
No. of Shareholders 3,0434,6728,21822,62736,29240,41947,01346,34843,80846,03951,29049,226

Shareholding Pattern Chart

No. of Shareholders

Shriram Pistons & Rings Ltd: Intrinsic Value & Share Price Analysis - Shareholder trend analysis

Mutual Fund Holdings

Fund NameNo of SharesAUM (%)Amount Invested (Cr)Previous Number of SharesPrevious DatePercentage Change
DSP Small Cap Fund 1,081,165 2 336.99553,5332025-12-08 01:32:2895.32%
Mahindra Manulife Small Cap Fund 254,261 1.94 79.25231,2612026-03-23 11:11:179.95%
Tata ELSS Fund 220,000 1.47 68.57N/AN/AN/A
Mahindra Manulife Equity Savings Fund 11,149 0.63 3.48N/AN/AN/A

ROCE Trend

EPS Trend

Key Financial Ratios

MonthMar 25Mar 24Mar 23Mar 22Mar 21
FaceValue 10.0010.0010.0010.0010.00
Basic EPS (Rs.) 115.02100.47133.4374.2639.67
Diluted EPS (Rs.) 115.02100.47133.4374.2639.67
Cash EPS (Rs.) 144.21124.03176.43120.6085.50
Book Value[Excl.RevalReserv]/Share (Rs.) 540.54455.83695.48565.40508.79
Book Value[Incl.RevalReserv]/Share (Rs.) 542.75458.04699.90569.82513.14
Revenue From Operations / Share (Rs.) 805.86701.321184.71937.42713.56
PBDIT / Share (Rs.) 189.72165.11230.20151.50105.07
PBIT / Share (Rs.) 162.55140.66187.20105.1759.23
PBT / Share (Rs.) 154.75133.74178.4499.9853.62
Net Profit / Share (Rs.) 117.0499.58133.4374.2639.66
NP After MI And SOA / Share (Rs.) 115.02100.47133.2474.2639.66
PBDIT Margin (%) 23.5423.5419.4316.1614.72
PBIT Margin (%) 20.1720.0515.8011.218.30
PBT Margin (%) 19.2019.0615.0610.667.51
Net Profit Margin (%) 14.5214.1911.267.925.55
NP After MI And SOA Margin (%) 14.2714.3211.247.925.55
Return on Networth / Equity (%) 21.2723.1319.3313.137.79
Return on Capital Employeed (%) 25.5026.5523.2116.8610.48
Return On Assets (%) 13.5814.1012.358.845.20
Long Term Debt / Equity (X) 0.070.100.090.030.04
Total Debt / Equity (X) 0.200.230.190.100.08
Asset Turnover Ratio (%) 1.031.121.241.160.97
Current Ratio (X) 2.482.432.512.312.10
Quick Ratio (X) 1.961.951.941.611.47
Inventory Turnover Ratio (X) 8.223.202.972.521.79
Dividend Payout Ratio (NP) (%) 8.697.4610.508.0715.12
Dividend Payout Ratio (CP) (%) 7.036.007.944.977.01
Earning Retention Ratio (%) 91.3192.5489.5091.9384.88
Cash Earning Retention Ratio (%) 92.9794.0092.0695.0392.99
Interest Coverage Ratio (X) 24.3323.8826.2829.2118.71
Interest Coverage Ratio (Post Tax) (X) 16.0115.4016.2315.328.06
Enterprise Value (Cr.) 7845.818324.481884.071334.911625.85
EV / Net Operating Revenue (X) 2.212.690.720.641.02
EV / EBITDA (X) 9.3911.453.724.006.92
MarketCap / Net Operating Revenue (X) 2.342.800.850.751.12
Retention Ratios (%) 91.3092.5389.4991.9284.87
Price / BV (X) 3.494.511.461.251.56
Price / Net Operating Revenue (X) 2.342.800.850.751.12
EarningsYield 0.060.050.130.100.04

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

About the Company - Qualitative Analysis

Shriram Pistons & Rings Ltd. is a Public Limited Listed company incorporated on 09/12/1963 and has its registered office in the State of Delhi, India. Company's Corporate Identification Number(CIN) is L29112DL1963PLC004084 and registration number is 004084. Currently Company is involved in the business activities of Manufacture of engines and turbines, except aircraft, vehicle and cycle engines. Company's Total Operating Revenue is Rs. 3179.51 Cr. and Equity Capital is Rs. 44.05 Cr. for the Year ended 31/03/2025.
INDUSTRYADDRESSCONTACT
Auto Ancl - Engine Parts3rd Floor, Himalaya House, 23, Kasturba Gandhi Marg, New Delhi Delhi 110001Contact not found
Management
NamePosition Held
Mr. Pradeep DinodiaChairman
Mr. Krishnakumar SrinivasanManaging Director & CEO
Mr. Luv D ShriramWhole Time Director
Mrs. Meenakshi DassDirector
Mr. Yasunori MaekawaDirector
Mr. Klaus SemkeDirector
Mr. Hari S BhartiaIndependent Director
Mrs. Ferida ChopraIndependent Director
Ms. Tina TrikhaIndependent Director
Mr. Shigeto MunoAlternate Director

FAQ

What is the intrinsic value of Shriram Pistons & Rings Ltd and is it undervalued?

As of 05 April 2026, Shriram Pistons & Rings Ltd's intrinsic value is ₹1772.27, which is 41.41% lower than the current market price of ₹3,025.00, suggesting the stock is overvalued. This is calculated using the PE ratio method factoring in ROE (23.2 %), book value (₹599), dividend yield (0.33 %), and 5-year EPS CAGR.

What is the current share price and 52-week range of Shriram Pistons & Rings Ltd?

Shriram Pistons & Rings Ltd is trading at ₹3,025.00 as of 05 April 2026, with a FY2026-2027 high of ₹3,416 and low of ₹1,556. The stock is currently near its 52-week high. Market cap stands at ₹13,326 Cr..

How does Shriram Pistons & Rings Ltd's P/E ratio compare to its industry?

Shriram Pistons & Rings Ltd has a P/E ratio of 23.7, which is below the industry average of 50.72. Trading at a steep discount to peers could signal a value opportunity or reflect concerns about the company's fundamentals.

Is Shriram Pistons & Rings Ltd financially healthy?

Key indicators for Shriram Pistons & Rings Ltd: ROCE of 25.7 % indicates efficient capital utilization; ROE of 23.2 % shows strong shareholder returns. Dividend yield is 0.33 %.

Is Shriram Pistons & Rings Ltd profitable and how is the profit trend?

Shriram Pistons & Rings Ltd reported a net profit of ₹516 Cr in Mar 2025 on revenue of ₹3,550 Cr. Compared to ₹164 Cr in Mar 2022, the net profit shows an improving trend.

Does Shriram Pistons & Rings Ltd pay dividends?

Shriram Pistons & Rings Ltd has a dividend yield of 0.33 % at the current price of ₹3,025.00. The company pays dividends, though the yield is modest.

Disclaimer: This article is for informational purposes only and should not be construed as financial advice. The author is not a SEBI registered financial advisor and does not have any vested interest in Shriram Pistons & Rings Ltd. Investors are advised to conduct their own due diligence and consult with a financial professional before making any investment decisions. The information provided in this article is based on publicly available data and the author's analysis, but it may not be comprehensive or up-to-date. The author and getaka.co.in are not responsible for any errors or omissions in the content. This article is not intended to promote any particular investment strategy or recommendation, and readers should consult with their own financial advisors before making any investment decisions. Data Source: NSE
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