Shriram Pistons & Rings Limited has received regulatory approval from the Ministry of Corporate Affairs (MCA) for significant amendments to its Memorandum of Association. The MCA issued its approval letter on March 27, 2026, following shareholder consent obtained through a postal ballot special resolution.

Regulatory Approval and Compliance

The company informed the stock exchanges on March 28, 2026, about the MCA's approval for alterations in the Main Object Clause of its Memorandum of Association. This notification was made pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The MCA has issued a Certificate of Registration of Special Resolution confirming the alteration of object clauses under Section 13(1) of the Companies Act, 2013.

Key Amendments to Business Scope

The amendments involve substantial modifications to the company's main object clause, expanding its business activities across multiple sectors:

Enhanced Traditional Manufacturing Scope

The revised sub-clause (1) of Clause III(A) expands the company's traditional manufacturing capabilities to include a comprehensive range of automotive components. The amended scope covers pistons, piston rings, cylinder liners, engine valves, transmission gears, and various other components for vehicles and engines. The expansion extends to applications across diverse vehicle types including trucks, tractors, motorcycles, three-wheelers, buses, aircraft, and industrial engines.

Electric Mobility and Advanced Technologies

The newly inserted sub-clause (2) introduces significant expansion into electric mobility and advanced automotive technologies. The company can now engage in:

• Electric Motor Systems: Traction motors, permanent magnet synchronous motors, axial flux motors, and radial flux motors
• Electronic Components: Motor controllers, DC-DC converters, battery management systems, and e-drive systems
• Advanced Systems: Radars, telematics boxes, infotainment systems, and ADAS components
• Precision Manufacturing: High-pressure die casting components, lightweight composites, and precision molded parts

Comprehensive Component Manufacturing

The third new sub-clause (3) covers original equipment manufacturer products and jobbing industry operations, including:

• Automotive Lighting: LED lights, day running lights, charging indicators, and illuminated components
• Interior Systems: Intelligent steering systems, door panels, sun visors, and automotive interior decorative parts
• Specialized Components: EV water pumps, plastic fuel capture systems, and thermal cooling systems

Corporate Structure Modernization

The company has adopted a new Memorandum of Association format aligned with the Companies Act, 2013 requirements. The existing MOA, originally structured under the Companies Act, 1956, has been completely substituted and replaced to comply with current regulatory standards as prescribed in Table A to Schedule I of the Companies Act, 2013.

Official Documentation

The MCA certificate was issued by the Central Processing Centre, Manesar, Haryana, and digitally signed by the Assistant Registrar of Companies on March 27, 2026. The company's communication to stock exchanges was digitally signed by Company Secretary & Compliance Officer Pankaj Gupta on March 28, 2026.

Shriram Pistons & Rings has officially extended its Asset Purchase Agreement with Sunbeam Lightweighting Solutions Limited until June 30, 2026, as per regulatory filing dated March 27, 2026. The company has provided detailed updates on its ₹28 crore piston plant acquisition, structured as a multi-tranche transaction.

Extended Asset Purchase Agreement

The company has amended its original Asset Purchase Agreement with Sunbeam Lightweighting Solutions Limited, extending the long stop date from March 31, 2026 to June 30, 2026. This extension allows for completion of the proposed transaction in multiple tranches with better timeline management.

₹28 Crore Transaction Structure

The total consideration for the proposed transaction across all tranches amounts to ₹28 crore, exclusive of applicable GST. The payment structure demonstrates a phased approach with specific milestones already achieved.

Transaction Progress and Timeline

The first tranche of the proposed transaction was completed on December 31, 2025, with the seller receiving ₹10 crore for certain identified plant and machinery. The remaining identified assets forming part of piston manufacturing lines are expected to be transferred in one or more tranches by June 30, 2026.

Strategic Business Rationale

According to the regulatory filing, the asset purchase agreement relates to identified plant and machinery and related books and records forming part of piston manufacturing line. The objective is to strengthen and expand the company's existing piston manufacturing operations, enhance manufacturing capacity, and improve operational efficiencies. The transaction is conducted on an arm's length basis with no related party involvement.

Source: Company/INE526E01018/3472212b-f955-4b8e-8491-fa8f78df9afb.pdf