Financial Results Updates

SPR Auto Technologies, recently renamed from Shriram Pistons & Rings, saw its board approve audited financial results for the quarter and financial year ended March 31. The company reported standalone profit of 513.7 Cr and consolidated profit of 561.4 Cr for the year.

A final dividend of Rs 5 per share was proposed, bringing the total for the year to Rs 10 per share, pending shareholder approval.

The board also cleared raising up to 1,000 Cr via Qualified Institutions Placement for debt repayment and capex.

Two directors are up for re-appointment, and a new cost auditor was appointed.