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. It operates through the automotive components segment. The Company provides end-to-end solutions which include design, develop, validate, and manufacture products for its customers at its tech center with design and engineering professionals in concept design, FEA, simulation, rig testing, prototype development, and engine testing & analysis. The Companyâs products include piston rings, pistons and piston pins, and engine valves. It catering to wide range of new generation BS VI Bi-wheelers, 3 wheelers, Passenger Cars, GDI & MPFI engines, and others. The Company offers wide range of piston rings manufactured using high quality cast iron and steel materials like cast iron, alloyed grey cast iron, spheroidal graphite cast iron and more.