Shriram Pistons & Rings share price extended rally for the third consecutive session to hit another 52-week high on Monday after the company announced the acquisition of Antolin Group’s Indian operations. The smallcap stock rallied as much as 5.70% to a fresh high of ₹2,999.00 apiece on the BSE.
The rally in Shriram Pistons share price was supported by robust volumes. Around 7 lakh equity shares changed hands on December 8 as against its one month average trading volume of 2 lakhs shares. Shriram Pistons share price has gained 14% in the past three sessions.
Shriram Pistons & Rings, on December 5, 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 ₹1,670 crore on a debt-free, cash-free basis, marks Shriram Pistons & Rings’ diversification beyond the traditional ICE powertrain components and entering the fast-growing automotive interiors segment.
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, Shriram Pistons & Rings said in a release.
They serve major OEMs across India and contribute annual revenues of approximately ₹1,179.1 crore, and are expected to immediately be value-accretive to Shriram Pistons & Rings’ consolidated results, it added.
The transaction is expected to be completed by January 2, 2026, subject to customary approvals and conditions outlined in the Share Purchase Agreement.
Analysts View
Chirag Jain, Deputy Head of Research at Emkay Global Financial Services Ltd expects the acquisition drives a >30% upgrade in FY27E and FY28E topline and a ~3-7% upgrade in EPS by FY27E and FY28E, led by scale-up and customer diversification of the Antolin portfolio.
“The financial aspect of the deal also appears attractive. The acquisition is priced 1.4x FY25 EV/Sales and ~15.5x FY25 EV/EBITDA – reasonable for a business that delivered EBITDAM of ~9% in FY24,” Jain said.
Shriram Pistons & Rings share price trades at about 16x its estimated Sep-27 earnings, which is roughly a 57% discount compared to its peers. This is despite strong expected growth — revenue, EBITDA, and EPS are all projected to grow around 23–26% annually between FY26E and FY28E, including the Antolin India acquisition. Its RoCE is also expected to improve significantly, rising to about 24% by FY28E from 17% in FY22.
Should you buy Shriram Pistons & Rings shares?
With accelerating diversification into the non-ICE portfolio and sustaining strong growth and profitability in the core ICE portfolio, Emkay Global raised its target multiple to 25x from 20x earlier.
The brokerage firm has a ‘Buy’ call on Shriram Pistons shares and raised the target price by 37% to ₹4,650 on roll-forward basis to Dec-27E from Sep-27E target price of ₹3,400 earlier.
Technical View
Shriram Pistons & Rings share price has gained 15% in one month and more than 11% in three months. The smallcap stock has rallied 21% in the past six months.
According to Anshul Jain, Head of Research at Lakshmishree Investments, Shriram Pistons share price has completed a powerful base on base formation on the monthly chart, marked by four months of tight closes followed by another three-month squeeze that set up a high energy breakout.
“The current month shows an open low structure with a clean surge through the pattern. Friday’s breakout came with extraordinary participation, jumping nearly ₹5,500 percent above its 50-day average volumes, confirming strong institutional demand. Both the 10 and 20 month and 10 and 20 week moving averages are rising in sync, reinforcing trend strength across timeframes,” said Jain.
With momentum firmly aligned, he believes Shriram Pistons stock price now appears on track toward the ₹3,250 zone.
At 10:15 AM, Shriram Pistons share price was trading 5.33% higher at ₹2,988.45 apiece on the BSE.
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
