Shriram Pistons & Rings Limited disclosed the reorganization of technical collaborator Riken Corporation, effective April 1, 2026. Riken Corporation has been renamed NPR-RIKEN Nigata Corporation, with business divisions transferred to NPR-RIKEN Corporation. All technical agreements have been successfully transferred to NPR-RIKEN Corporation, ensuring continuity of four-decade-old partnerships. The reorganization maintains the 21.30% equity holding and keeps technical agreements valid until February 2028.

Shriram Pistons & Rings Announces Reorganization of Technical Collaborator Riken Corporation

Shriram pistons & rings Limited has announced the reorganization of its technical collaborator Riken Corporation, effective from April 1, 2026. The company disclosed this development under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, highlighting the seamless transition of technical partnerships and agreements.

Key Reorganization Details

The reorganization involves significant structural changes to Riken Corporation's business operations. The company has been renamed NPR-RIKEN Nigata Corporation, while certain business divisions and contractual rights/obligations have been transferred to NPR-RIKEN Corporation under Japanese law.

Parameter: Details Effective Date: April 1, 2026 Original Entity: Riken Corporation New Entity Name: NPR-RIKEN Nigata Corporation Agreement Successor: NPR-RIKEN Corporation Shareholding Impact: None

Technical Agreement Continuity

All Technical Assistance Agreements, Technical Collaboration Agreements, and related contracts with Shriram Pistons & Rings have been successfully transferred to NPR-RIKEN Corporation. A confirmation has been executed between the company and NPR-RIKEN Corporation acknowledging the transfer of all existing agreements with effect from April 1, 2026.

The technical agreements focus on the use of know-how, patents, and trademarks to manufacture and sell specific types of piston rings for internal combustion engines. These arrangements involve royalty payments calculated on sales made by the company.

Shareholding and Business Impact

The reorganization maintains stability in ownership structure, with NPR-RIKEN Nigata Corporation continuing to hold 21.30% equity in Shriram Pistons & Rings Limited. The company manufactures in India and continues operations in both domestic and export markets.

Aspect: Current Status Equity Holding: 21.30% (unchanged) Agreement Validity: Until February 2028 Market Operations: Domestic and Export Technology Focus: Piston rings for internal combustion engines

Long-term Partnership Benefits

The Technical Agreements have been operational for over four decades, supporting the domestic automotive industry with advanced technology products. These partnerships enable Shriram Pistons & Rings to:

Access latest manufacturing technology and know-how

Serve domestic and export markets effectively

Secure new business opportunities with advanced technology

Meet prevailing emission norms in India with global standard products

The current agreements remain valid until February 2028, ensuring continued technical collaboration and business continuity. The reorganization represents a structural change in the collaborator's corporate framework while maintaining the established technical and commercial relationships that have supported the company's operations in the automotive components sector.

Shriram Pistons & Rings Limited has successfully concluded its postal ballot proceedings, with shareholders approving significant corporate changes including a name change to SPR Auto Technologies Limited. The company announced the completion of the postal ballot process through minutes dated April 1, 2026, signed by Company Secretary Pankaj Gupta.

Postal Ballot Results and Shareholder Participation

The postal ballot process, which concluded on March 12, 2026, at 5:00 PM, saw substantial shareholder participation. The company engaged NSDL for e-voting services and appointed Ms. Preeti Grover (FCS 5862) as the scrutinizer to ensure a fair and transparent process.

Parameter Details Total Shareholders (Cut-off Date) 50,077 Total Shares Held 44,049,824 Total Votes Polled 33,711,340 E-voting Period February 11, 2026 to March 12, 2026

Resolution-wise Voting Results

All three special resolutions received overwhelming shareholder support, demonstrating strong confidence in the company's strategic direction.

Resolution Votes in Favor % in Favor Votes Against % Against Name Change Approval 33,711,146 99.9994% 194 0.0006% Memorandum Alteration 33,711,306 99.9999% 34 0.0001% Articles Alteration 33,632,788 99.7670% 78,552 0.2330%

Company Name Change Details

The first resolution approved the change of company name from "Shriram Pistons & Rings Limited" to "SPR Auto Technologies Limited." This change will be reflected across all corporate documents, agreements, and the common seal upon receipt of the fresh certificate of incorporation from the Registrar of Companies.

Expanded Business Objects

The second resolution involved significant expansion of the company's business objects through memorandum alteration. The new objects include:

Traditional Manufacturing: Continued focus on pistons, piston rings, cylinder liners, engine valves, transmission gears, and automotive components

Electric Mobility: New emphasis on traction motors, permanent magnet synchronous motors, e-drive systems, battery management systems, and electric vehicle components

Advanced Technologies: Addition of radar systems, telematics, ADAS components, precision moldings, and automotive lighting solutions

Regulatory Compliance and Next Steps

The company followed all regulatory requirements under the Companies Act, 2013, and SEBI Listing Regulations. Public notices were published in Financial Express (English) and Jansatta (Hindi) newspapers on February 6, 2026. The Managing Director & CEO, Chief Financial Officer, and Company Secretary have been authorized to complete all necessary formalities with regulatory authorities, including filing required forms with the Registrar of Companies.

The postal ballot proceedings were concluded on March 31, 2026, in New Delhi, with Chairman Pradeep Dinodia signing the official minutes. The results will be disseminated as required under SEBI regulations and posted on the company website.

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