Shriram Pistons & Rings Ltd (SPRL) has announced plans to acquire a 100% stake in TGPEL Precision Engineering Ltd, formerly Timex Group Precision Engineering Ltd, for ₹220 crore. The acquisition, conducted through SPRL’s subsidiary SPR Engenious Ltd (SEL), will be executed on a debt-free, cash-free basis and is expected to close by December 2024.
TGPEL, a specialist in high-precision injection moulds and moulded components, caters to industries such as automotive, electrical, consumer goods, and medical, both in India and abroad. This strategic move aligns with SPRL’s vision to diversify beyond internal combustion engine (ICE) powertrains and expand into precision component manufacturing.
Established in 2008, TGPEL operates two advanced manufacturing facilities in Noida and supplies to original equipment manufacturers (OEMs) across various sectors. SPRL’s Managing Director and CEO, Krishnakumar Srinivasan, stated that this acquisition would enhance the company’s portfolio, enabling TGPEL to cater to domestic and global demands for high-precision injection moulded parts in automotive and industrial applications.
Shriram Pistons & Rings Ltd (SPRL) is a leading Indian manufacturer of automotive components, specializing in pistons, piston rings, engine valves, and other critical powertrain parts. With decades of engineering expertise and a strong focus on innovation, SPRL caters to a diverse clientele, including original equipment manufacturers (OEMs) in the automotive, industrial, and agricultural sectors.
The company has expanded its portfolio to include components for electric powertrains, emphasizing its commitment to sustainability and future-ready technologies. Known for its state-of-the-art facilities and rigorous quality standards, SPRL continues to strengthen its position as a trusted partner for precision-engineered solutions, both domestically and globally.
