Shriram Pistons & Rings Limited — Important, 05-12-2024: Arrangements for strategic, technical, manufacturing, or marketing tie up

Shriram Pistons & Rings Ltd. has executed a renewal of its Technical Collaboration Agreement with Fuji Oozx Inc., Japan, valid for five years. This ongoing collaboration, which has been in place for over three decades, focuses on utilizing the latest technology to manufacture and sell engine and poppet valves for internal combustion engines, aligning with current emission norms in the automotive industry. Key aspects include a royalty payment based on sales made by Shriram Pistons to Fuji for access to their know-how and patents. This agreement enhances the company's technological capabilities, aiding its competitiveness by enabling the delivery of advanced products in India that meet global standards. This collaboration bodes well for Shriram Pistons as it positions them to capture new business opportunities and maintain a positive outlook in the automotive market.