Shriram Pistons & Rings To Acquire TGPEL Precision Engineering for ₹220 crore

Strategic Acquisition

Shriram Pistons & Rings Ltd (SPRL) announced its plan to acquire TGPEL Precision Engineering Ltd, formerly Timex Group Precision Engineering Ltd, at an enterprise value of ₹220 crore on a debt-free, cash-free basis. The acquisition will be executed through SPRL’s wholly-owned subsidiary, SPR Engenious Ltd (SEL), with the transaction expected to close by December 2024.

Founded in 2008, TGPEL specialises in high-precision injection moulds and moulded components, catering to automotive, electrical, consumer goods, and medical sectors globally. The acquisition aligns with SPRL’s long-term strategy to move beyond internal combustion engine (ICE) powertrains, focusing on high-precision component manufacturing to serve domestic and international markets.

Strengthening Capabilities in Precision Manufacturing

TGPEL operates two advanced manufacturing facilities in Noida and supplies injection-moulded products and moulds to leading OEMs. Its robust growth trajectory and financial performance are expected to complement SPRL’s consolidated financials.

Commenting on the acquisition, Krishnakumar Srinivasan, MD & CEO of SPRL, highlighted its strategic importance. “With TGPEL’s state-of-the-art mould development facility and expertise in precision injection moulding, SPRL aims to expand its product portfolio and better serve domestic and global customers in the automotive and industrial sectors,” he said.

Shriram Pistons & Rings Share Performance

As of December 10, 2024, 2:13 PM, shares of Shriram Pistons & Ltd. are locked at an upper circuit price of ₹2204.00 per share with a decline of 1.97% from its previous day’s closing price. Over the last month, the stock has seen a surge of 10.45%. The stock has a 52-week high and 52-week low of ₹2,399.00 per share and ₹994.15 per share respectively.

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