Shriram Pistons & Rings Limited Reports Earnings Results for the Third Quarter and Nine Months Ended December 31, 2023
January 30, 2024 at 06:41 am EST
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Shriram Pistons & Rings Limited reported earnings results for the third quarter and nine months ended December 31, 2023. For the third quarter, the company reported sales was INR 7,657.4 million compared to INR 6,360 million a year ago. Revenue was INR 7,849.9 million compared to INR 6,477.1 million a year ago. Net income was INR 1,073.6 million compared to INR 748.6 million a year ago. Basic earnings per share from continuing operations was INR 24.37 compared to INR 16.99 a year ago. Diluted earnings per share from continuing operations was INR 24.37 compared to INR 16.99 a year ago.
For the nine months, sales was INR 22,337.7 million compared to INR 19,083.2 million a year ago. Revenue was INR 22,951.1 million compared to INR 19,386.9 million a year ago. Net income was INR 3,229.6 million compared to INR 2,025 million a year ago. Basic earnings per share from continuing operations was INR 73.32 compared to INR 45.97 a year ago. Diluted earnings per share from continuing operations was INR 73.32 compared to INR 45.97 a year ago.
Shriram Pistons & Rings Limited is an India-based company, which is engaged in the manufacturing of various products, such as pistons and piston pins, piston rings, and engine valves. The Company caters to both domestic and international markets. The Company is principally engaged in assembling of automobile pistons. It operates through the automotive components segment. The Company has a diverse product portfolio, across various market segments, including original equipment manufacturers (OEMs), after market and export markets, and across various vehicle segments, including commercial vehicles, passenger vehicles, two/three wheelers, and tractors. It offers a range of Pistons and Piston Pins, including thin-walled piston, diamond-like carbon (DLC) coating on pins, groove anodizing, forged piston, crown anodizing, cooling gallery piston, nano friks, and piston pin bore bushing. Its additional product line includes cylinder liners, crankshafts, connecting rods, filters, and gaskets.
SHRIRAM PISTONS & RINGS LIMITED 
