Shriram Pistons gains after acquiring Karna Intertech

Shriram Pistons & Rings (SPRL) advanced 1.05% to Rs 1883.85 after the company said it acquired 100% stake in Karna Intertech (Karna) for total consideration of Rs 5 crore.

Karna has a sophisticated tool room located in industrial area of Bahadurgarh, Haryana. The tool room is equipped with modern CNC machine tools & the latest CAD/CAM facilities to manufacture a range of die casting moulds. Its revenue was Rs 4.99 crore in FY24.

Karna is a key supplier of gravity die casting moulds to SPRL, which are utilised in the manufacturing of piston castings. It can produce high-precision items to the greatest levels of quality because of its highly skilled workforce.

The company has acquired Karna to leverage synergies catering to the future requirements of its existing plants. This acquisition is expected to benefit the companys long-term growth.

The company has acquired 100% ownership of Karna, making it a wholly owned subsidiary.

Shriram Pistons & Rings is engaged in the manufacturing of various products, such as pistons and piston pins, piston rings, and engine valves for various automotive companies in the domestic and exports markets.

The companys consolidated net profit jumped 11.7% to Rs 119.91 crore in Q3 FY25 as compared with Rs 107.36 crore in Q3 FY24. Net sales increased 10.7% YoY to Rs 847.89 crore in Q3 FY25.

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