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IP Rings was established in 1991 in technical collaboration with Nippon Piston Rings Company Ltd., Japan (NPR) - a world leader in piston ring technology. IP Rings manufactures a wide range of sophisticated piston rings. IP Rings Ltd (IPRL), part of the Amalgamations Group, is the leading player in the piston ring segment. The company has a technical collaboration with Nippon Piston Rings Company of Japan through which it has succeeded in retaining a technological edge over its competitors. The company posted a rise of 12.3%yoy in net sales in FY2000 largely due to improved offtake in the automotive segment. However, as opposed to other ancillary firms, the company has been able to cut operating costs in the form of lower raw material costs and selling expenses. As a result, net profit has risen by 37.3%yoy.
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