Craftsman Automation Ltd Q2 FY26 Results — Aluminium Dreams, German Schemes, and the Coimbatore Machine Factory That Ate 7,000 Crores in Sales

1. At a Glance

Ladies and gentlemen, meetCraftsman Automation Ltd, the Coimbatore-born engineering wizard that decided “machining” meansmachining everything from India to Germany. With a market cap of ₹16,151 crore, and a price tag of ₹6,770 per share (as of 7 November 2025), this is no small-town lathe shop anymore.

Q2 FY26 numbers? Brace yourself —Revenue ₹2,002 crore, up64.9% YoY,PAT ₹91.2 crore, up47.8% YoY, and an operating profit margin of 15%. It’s like the company’s CNC machine started printing cash instead of metal chips.

The aluminium segment, once the underdog, now rules the house with 47% revenue contribution (up from 20% in FY22). Post-acquisitions ofDR Axion,Sunbeam Lightweighting, and two shiny German foundries, Craftsman now has a European accent too.

But wait — debt sits heavy at ₹3,311 crore (Debt/Equity 1.09x). So while profits grew, interest costs have become the office villain nobody can fire. Promoters hold 48.7%, foreign investors 15.4%, and domestic institutions a chunky 24.4%.

If you think “automation” sounds sexy, remember — at 62x P/E, you’re paying for a Lamborghini, not a Maruti.

2. Introduction

Once upon a time in Coimbatore, someone decided that instead of makingidli plates, they’d makeengine blocks. Thus, Craftsman Automation was born in 1986 — a humble precision shop that grew up to be the most talked-about manufacturing player in India’s auto component sector.

Fast forward nearly four decades, and it’s a beast of₹7,111 crore in FY25 revenue,₹260 crore PAT, and an expanding empire from Hosur to Germany. This is not your uncle’s lathe workshop — this is a 12-plant, 10-satellite-unit, multinational machine with aluminium in its veins and debt in its bloodstream.

What makes Craftsman spicy is not just growth — it’showthey’re doing it. A string of acquisitions, capex explosions, and QIP fundraises make it feel like a Bollywood montage of “small-town boy goes global.”

But here’s the catch: while revenue went from ₹3,183 crore in FY23 to ₹7,111 crore in FY25 (a 2.2x jump), margins went the other way — from 21% to 14%. Why? Because aluminium’s heavy, Germans are expensive, and expansion eats profit like pac-man.

Still, in a manufacturing landscape that’s either sleepy or shady, Craftsman is that one player actually building things — literally.

3. Business Model – WTF Do They Even Do?

Let’s decode the Craftsman menu card before we choke on acronyms:

(1) Aluminium Products – 47% of H1 FY25 revenue (vs 20% in FY22)They make crankcases, cylinder blocks, and engine parts that go inside your car, tractor, or truck. After gobbling upDR AxionandSunbeam, this segment went full Fast & Furious. It’s now the company’s star child, growing 380% between FY22–FY24.

(2) Powertrain – 36% (vs 52% in FY22)This is old-school Craftsman — machining heavy components for M&HCVs, gearboxes, and transmission systems. Think of it as the iron heart that keeps the automotive sector running, but it’s slowly losing share to the shinier aluminium sibling.

(3) Industrial & Engineering – 17% (vs 28% in FY22)Includesstorage systemsandindustrial sub-assemblies. So yes, Craftsman also builds racks and shelves. If your Amazon parcel reached you on time, there’s a chance it rested on a Craftsman shelf before leaving the warehouse.

The company runs16 facilities across India, including new ones atBhiwadi (Rajasthan)andKothavadi (Coimbatore), plus a greenfield setup atShoolagiri, Hosur(started operations in October 2025).

So basically:

• They cast aluminium, machine steel, and store your boxes.
• It’s like Godrej met Bharat Forge and had a Coimbatore baby.

4. Financials Overview

Annualized EPS = 38.1 ×