Craftsman Automation Ltd(CRAFTSMAN)

NSE: CRAFTSMANBSE: 543276

₹ 10,469.25-4.82%refreshed 23 Oct, 03:30 pm ISTMarket cap: ₹ 27,382 crNext results: 28 Oct 2026Website: www.craftsmanautomation.comUpdated: 24 Oct 2026

About

Craftsman Automation is an Indian auto-components and industrial manufacturer operating across three segments: Aluminium Products, Powertrain, and Industrial & Engineering. The company posted consolidated revenue of ₹8,069 crores in FY26, up 42% YoY, making it one of the larger diversified auto-component groups in India. Aluminium Products, built through organic expansion and the Sunbeam and DR Axion acquisitions, is now the largest segment at 59.3% of FY26 revenue.^[1][2][3]

Business segments

Aluminium Products: 59.3% of FY26 revenue (₹4,789 crores), EBIT margin 10.3%; covers HPDC automotive parts, alloy wheels, and structural aluminium castings across standalone, DR Axion, and Sunbeam entities.^[2][3]
Powertrain: 27.0% of FY26 revenue (₹2,179 crores), EBIT margin 16.6%; machines and assembles engine and transmission components for automotive and off-highway OEMs.^[2][3]

Manufacturing capacity and utilisation

Aluminium HPDC capacity across current plants running at >80% utilisation as of Q1FY27, prompting the Hosur Unit 3 greenfield HPDC facility.^[4]
Powertrain capacity utilisation was ~70% in Q1FY27; management characterises this as a return to normal after several muted quarters.^[4]
DR Axion's existing plant was at ~80 - 85% utilisation as of Q4FY26, triggering the Sriperumbudur greenfield expansion.^[3]
Craftsman is the second-largest player in India in static racking within its Industrial & Engineering business.^[5]

Key operating numbers

Q1FY27 consolidated revenue ₹2,432 crores (+36% YoY); Aluminium Products ₹1,479 crores (+38%), Powertrain ₹623 crores (+26%), Industrial & Engineering ₹330 crores (+53%).^[4]
Aluminium sales volume was 94,904 tonnes in FY26.^[3]
Powertrain mix in Q2FY26: commercial vehicles 46%, off-highway 21%, tractors 19%, SUVs 14%.^[6]
Alloy wheel volume target for FY27 is 4 million+ units from the 5.8 million unit installed base (~69% utilisation); Phase-2 expansion deferred until utilisation crosses 80%.^[4]
Stationary engine order book (Kothavadi): 5 of 6 target customers have placed orders; first 4 customers alone fill the USD 100 million FY29 - 30 revenue target.^[4]

Products and operations

Powertrain segment machines engine blocks, cylinder heads, transmission cases and other drivetrain components; product mix spans commercial vehicles, tractors, off-highway and passenger car SUVs.^[6]
Kothavadi foundry Phase-I is operational for industrial engineering castings including windmill customers; Phase-II for large stationary engine blocks (data-centre power) targets commercial revenue from 2029.^[6]
German subsidiary Fronberg Guss generated H1FY26 revenue of ₹158 crores, EBITDA of ₹14.87 crores; order book full, majority tied to large engines for data-centre power generation.^[6]
Aluminium content per vehicle in India is structurally growing via lightweighting and CAFE norms, but adoption pace lags Western markets and is linked to new platform cycles.^[5]

Customers and distribution

DR Axion's existing plant serves only three customers and was at full capacity as of Q2FY26; new cylinder-block orders from existing customers drove the Sriperumbudur capex decision.^[6]
Management states existing multinational OEM customers are planning ~50% capacity additions over the next three years across automotive, tractor, two-wheeler and power-generation verticals.^[6]
Export inquiries for aluminium 4-wheeler components are rising from both Europe and North America; company is selectively evaluating long-term viable business.^[3]
Sunbeam is targeting new business from premium 2-wheeler OEMs and export customers, with a threshold order size of $10 - 30 million per new customer.^[5]

Expansion and capex

FY27 consolidated capex guided at ~₹1,500 crores: standalone ~₹1,000 crores, DR Axion ~₹430 crores (approved), Sunbeam maintenance; Board may revise upward in Q3/Q4FY27.^[4]
Hosur Unit 3: new greenfield HPDC plant for automotive 2- and 4-wheeler parts to be built in phases over 4 - 6 quarters on a fill-as-orders-come model.^[4]
DR Axion Sriperumbudur greenfield: 50-acre site acquired at ~₹150 crores adjacent to SIPCOT; civil construction underway, commissioning targeted by December 2026.^[3]
Kothavadi stationary engine: 30% of $100M production targeted by FY28, 50% by FY29, full $100M annual run-rate by FY30; incremental orders from same customers may add revenue beyond $100M from FY30 - 31.^[4]
Gurgaon land sale is close to deal signing; proceeds earmarked to reduce consolidated debt at above ₹350 crores book value.^[4]

Aluminium entity restructuring

Scheme of arrangement filed to merge DR Axion, Suprash Developers and Srikara Technologies into Sunbeam Lightweighting, aiming to create a unified aluminium platform targeting ~₹6,500 crores revenue to compete with global peers.^[3]
Sunbeam restructuring is ~90% complete by December 2026 target; sequential margin improvement expected from Q1FY27, with mid-teens EBITDA margin targeted by Q4FY27 even if top-line declines 10 - 20%.^[4]
Sunbeam sold its aluminium piston asset (~₹30 crores revenue, 2 customers) to Shriram Pistons and is exiting ~10 customers contributing ~5% of its revenue.^[5]

Recent developments

Q1FY27 (Apr - Jun 2026): Industrial & Engineering EBIT surged to ₹30 crores from ₹5 crores in Q1FY26, driven by operating leverage on India's domestic capex cycle in material handling and storage.^[4]
Q1FY27: Aluminium HPDC utilisation exceeded 80%, prompting announcement of Hosur Unit 3 greenfield facility to be built in phases over 4 - 6 quarters.^[4]
FY26 full year: consolidated net debt-to-EBITDA stood at 2.43x; management targets below 2x in FY27 and ~1.5x thereafter.^[3]
Shoolagiri alloy wheel plant commenced operations in Q3FY26, causing ~200 bps EBIT margin contraction in standalone aluminium during the prove-out phase.^[5]

Market Cap

₹27,382 Cr

High / Low

₹11,990 / 6,252

Stock P/E

57.9

Price / Book

8.0

Book Value

₹1,368

EPS

₹161.0

No. of Shares

2.39 Cr

ROCE

14.3%

ROE

12.6%

OPM

10.5%

Debt / Equity

1.02

Sales

₹8,069 Cr

Net Profit

₹384 Cr

Promoter holding

42.4%

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Craftsman Automation Ltd(CRAFTSMAN)

About

Business segments

Manufacturing capacity and utilisation

Key operating numbers

Products and operations

Customers and distribution

Expansion and capex

Aluminium entity restructuring

Recent developments

Signal history

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