Shriram Pistons and Rings aspires to maintain its commitment to traditional powertrain solutions while expanding into cutting-edge technology as the mobility ecosystem shifts from ICE to EVs, finds out N. Balasubramanian in this exclusive interaction with Krishnakumar Srinivasan, MD & CEO of the company
Product Showcase at Auto Expo 2023
A comprehensive selection from Shriram Pistons and Rings’ piston, rings and engine valve products was on display at Auto Expo 2023. Every solution, from two-wheelers to large trucks, was highlighted at the show. “We are happy to announce that we have created a 170 diameter piston for use in large generator sets. Moreover, we offer pistons for applications involving hydrogen and CNG. The hydrogen pistons require an entirely new design, mostly due to the fact that hydrogen requires a greater compression ratio. Also, as you can see, the ball body must be made with a very deep type of machining and the product as a whole is one of a kind,” said Krishnakumar Srinivasan, Managing Director and CEO, Shriram Pistons and Rings Ltd.
He also added that this product is currently undergoing testing with a few customers and is progressing admirably. “These have all been designed locally since we have done so using our in-house research and development capabilities that we have built up over the years. The fact that our team of engineers was able to create these products for the Indian market makes us very proud,” he said. The electrical products highlighted at the show included motors, controllers and other types of motors ranging in power from 250 watts up to 150 kilowatts for use in various transit applications. “Our product line offers a wide variety and we also have forced cooling and glycol cooling ranges,” Krishnakumar said.
“They have been customised for Indian conditions so that we can truly maintain the motor at a very good operating temperature. As such, the magnets maintain a very excellent life and the efficiency stays at the plus 94-95 level,” he added. The company boasts of having products created especially for use in the Indian markets. A variety of controller applications, including those that have been built especially for some of the Indian customers, are undergoing various stages of testing, and the company is optimistic that this business will expand in the near future. “We have a motor with the IP 67 application. These are used underwater so that the industry can rest easy knowing that they will function flawlessly during various seasons, including the monsoon, for various water-based solutions,” Krishnakumar said.
New Growth Engine
While Shriram Pistons and Rings (SPR) will continue to be the growth engine for IC engines, SPR Engenious Ltd. (SEL) will be the company’s future growth engine. The company is convinced that IC engines won’t vanish very soon and it will continue to service them while also considering SEL’s future commercial opportunities. SEL is what the corporation uses to invest in various projects. “We will provide maintenance for the final pistons and IC engines produced worldwide. We are aiming to invest in SEL for further growth. Meanwhile, a company called EMF Innovations (EMFI) is one of the projects in which we have most recently made an investment. This Singapore-based corporation is supporting our Coimbatore-based business. It will help expand our presence in the market for electric motors and controllers,” Krishnakumar informed.
Bright Outlook Ahead
Following the pandemic, Shriram Pistons and Rings was delighted to exhibit at the event. In order to show the kind of transition the company is undergoing, such an involvement was essential to the company. “We find it difficult to accomplish this through one particular medium and so it is crucial that we participate in a show of this nature because it helps us reach a sizeable audience at once. This gives us reach, and reach is crucial especially when a company is going through a significant change in its overall portfolio,” Krishnakumar said. The business hopes to be recognised as a multi-product organisation and is optimistic about its future expansion. Although it is believed that the growth may be a little muted, it anticipates the markets to experience healthy growth.
“We still anticipate that this year’s GDP growth will be close to 6.86% and that of next year will be near to 5%. The geopolitical environment is the primary source of this change and because of the ongoing conflict between Ukraine and Russia and the industry’s developing inflationary trends, there is a lot of pressure to maintain cost levels, which could put pressure on volume. However, the market never fails to surprise us,” he said. “Even with increasing bank interest rates over the past quarter, we have continued to experience growth. We anticipate that this year it will be about 30% to 35% better than last year and if we have to predict how the following year will go, we anticipate that it will be at least 10% to 15% better,” he concluded.