Shriram Pistons & Rings Limited has announced a significant credit rating upgrade from India Ratings & Research Private Limited, enhancing its financial standing in the market. The rating agency upgraded the company's issuer rating to IND AA+/Stable from IND AA while resolving the Rating Watch with Positive Implications.

Rating Upgrade Details

India Ratings & Research Private Limited communicated the rating upgrade through letters dated February 11, 2026, which the company received on the same day at 8:00 PM. The comprehensive upgrade covers multiple financial instruments and facilities.

Bank Facilities Breakdown

The upgraded bank loan facilities worth INR 5,738.61 million are distributed across multiple leading financial institutions. The facilities include both fund-based and non-fund-based working capital limits along with term loans.

Commercial Paper Programme

The rating agency affirmed the company's commercial paper programme rating at IND A1+ for instruments with maturity up to 365 days. The programme size remains at INR 10,000 million, providing the company with short-term funding flexibility.

Regulatory Compliance

Shriram Pistons & Rings Limited informed both the National Stock Exchange of India Limited and BSE Limited about the rating upgrade on February 12, 2026. The communication was made pursuant to Regulation 30 read with Schedule III of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company has also placed this information on its website at www.shrirampistons.com for stakeholder access.

Key Highlights

The rating upgrade reflects several positive developments:

• Enhanced creditworthiness with IND AA+/Stable rating
• Removal from Rating Watch with Positive Implications
• Comprehensive coverage across all major financial instruments
• Maintained short-term rating strength at IND A1+
• Diversified banking relationships across leading institutions

The upgrade positions the company favorably for future financing requirements and demonstrates improved financial metrics that warranted the enhanced credit assessment by India Ratings & Research Private Limited.

Shriram Pistons & Rings Limited has announced a comprehensive postal ballot process to seek shareholder approval for strategic corporate changes, including a proposed name change that reflects the company's evolution in the automotive technology sector.

Key Resolutions for Shareholder Approval

The company has outlined three special resolutions for consideration through the postal ballot process:

E-Voting Timeline and Process

The remote e-voting facility has been structured with specific timelines to ensure comprehensive shareholder participation:

Strategic Rationale for Name Change

The proposed name change to "SPR Auto Technologies Limited" represents the company's strategic evolution beyond its traditional pistons and rings manufacturing heritage. The company has expanded its presence within the automotive sector through strategic acquisitions and investments in allied automotive businesses, including precision plastic injection moulding, automotive interior and exterior solutions, automotive lighting systems, electric controllers and motors, and other automotive components.

The expanded product portfolio now encompasses liners, seat inserts, bearings, electric water pumps, and plastic fuel control devices. These activities complement the company's core operations and reflect a progressive shift towards higher value-added, technology-driven automotive systems supporting multiple vehicle platforms across ICE, hybrid, and Electric Vehicle (EV) segments.

Regulatory Compliance and Documentation

The company has obtained necessary regulatory clearances for the proposed changes:

• Central Registration Centre (CRC), Registrar of Companies (ROC), Ministry of Corporate Affairs has conveyed no-objection to the proposed name "SPR Auto Technologies Limited" through its letter dated February 5, 2026
• Compliance certificate from Practising Chartered Accountant confirming adherence to Regulation 45(1) of SEBI Listing Regulations has been secured
• All documentation is available on the company's website at https://shrirampistons.com

Corporate Governance Framework

The postal ballot process follows strict compliance protocols under the Companies Act, 2013, and SEBI regulations. Ms. Preeti Grover (FCS 5862), Practicing Company Secretary, has been appointed as Scrutinizer for the postal ballot process, with M/s Shabnam Kapoor & Co. (FCS 4258) as alternate.

The voting results will be declared within two working days from the conclusion of e-voting and will be communicated to stock exchanges BSE and NSE, along with publication on the company's website and NSDL's platform.