Shriram Pistons & Rings Limited has entered into an agreement to purchase identified plant and machinery forming part of an aluminium piston manufacturing line from Sunbeam Lightweighting Solutions Private Limited for a consideration of INR 280 million, as part of its plans to expand piston manufacturing capacity. The proposed transaction is structured as an asset purchase on a piecemeal basis and is intended to strengthen the company’s existing manufacturing operations.
The company said in a stock exchange filing that it has signed an Asset Purchase Agreement with Sunbeam Lightweighting Solutions Private Limited, a wholly owned subsidiary of Craftsman Automation Limited. The transaction relates to the acquisition of specified plant and machinery along with related books and records and does not involve the acquisition of the seller entity, its business as a going concern, or any equity interest or control.
Sunbeam Lightweighting Solutions operates dedicated piston manufacturing facilities centred on a gravity die casting (GDC) cell for pistons production, supported by 17 customised GDC machines and eight CNC machining lines. The facilities have an annual production capacity of more than five million pistons and manufacture over 30 piston variants, covering diameters ranging from 41 millimetres to 82 millimetres.
The operations utilise two specialised aluminium alloys developed for strength, thermal stability, and durability, with in-house capabilities that include T6 heat treatment, moly resin coating, and titanium–aluminium coating processes. The company also collaborates with Art Metal Japan, drawing on its piston design expertise and validation systems to support the development and production of components for engine platforms across global markets.
According to the filing, the total consideration for the purchase of the identified assets is INR 280 million, plus applicable goods and services tax, and will be paid in cash in accordance with the terms of the agreement. The acquisition is aligned with Shriram Pistons & Rings Limited’s principal line of business and is expected to enhance manufacturing capacity and improve operational efficiencies within its piston operations.
The transaction is structured to be completed in two tranches and is subject to the fulfilment of customary conditions precedent, including representations, warranties, indemnities, and non-compete obligations. Transfer of possession of the identified plant and machinery and related records will occur upon completion of each tranche. The completion of the transaction is expected on or before 31 March 2026.
From the seller’s perspective, Craftsman Automation Limited disclosed in its stock exchange filing that the shareholders of Sunbeam Lightweighting Solutions Private Limited approved the sale of the identified aluminium piston manufacturing assets on 19 December 2025, following a recommendation from its board of directors. The Asset Purchase Agreement was entered into on the same date.
Craftsman Automation Limited further stated that, as the proposed transaction involves only the sale of certain identified assets, details relating to turnover, revenue, income, or net worth contribution are not applicable. The company also clarified that the disposal does not constitute a slump sale and is not part of any scheme of arrangement under the SEBI (Listing Obligations and Disclosure Requirements) Regulations.
Both Shriram Pistons & Rings Limited and Craftsman Automation Limited confirmed that the transaction does not qualify as a related party transaction and is being undertaken on an arm’s length basis. The promoter, promoter group, and group companies of Shriram Pistons & Rings Limited do not have any interest in Sunbeam Lightweighting Solutions Private Limited.
Shriram Pistons & Rings Limited is engaged in the manufacture of pistons, piston rings, and related engine components for automotive and industrial applications, with a focus on capacity expansion and operational efficiency across its manufacturing operations.
