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Dolat Capital Report
Craftsman Automation Ltd. is the largest player involved in the machining of critical parts like cylinder blocks and cylinder heads for the medium and heavy commercial vehicle segment.
The company’s business can be categorized in three segments-
1. Powertrain and other products for the automotive segment;
2. Aluminum products for the automotive segment and
3. Industrial and engineering products segment- non automotive.
We see sharp earning growth ahead at 51% compound annual growth rate over FY21-23E led by-
sharp recovery in the M&HCV segment,
increased shift towards the use of casting parts of lightweight aluminum and
fall in interest cost due to deleveraging balance sheet.
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