Craftsman Automation (CRAFTSMAN) Q2 26/27 earnings summary

Executive summary

• FY27 H1 consolidated revenue reached ₹5,376.78 crore, up 42% YoY; EBITDA rose 41% to ₹820 crore and PAT increased 90% to ₹303.73 crore.

• Growth is expected through H2 and the next two financial years, supported by new orders, approvals and capacity coming on stream; management reiterated a 15% real-term CAGR commitment.

• Capacity ramp-up, working capital and input-cost volatility weigh on margins, while customer-specific price resets are expected to support recovery.

Financial highlights

• FY27 Q2 consolidated revenue was ₹2,945.20 crore versus ₹2,001.59 crore YoY; net profit was ₹153.18 crore versus ₹90.86 crore.

• FY27 H1 consolidated revenue was ₹5,376.78 crore versus ₹3,785.59 crore; net profit was ₹303.73 crore versus ₹160.46 crore.

• FY27 Q2 EBITDA was ₹412 crore; FY27 H1 EBITDA was ₹820 crore, up 41% YoY.

• Standalone real-term growth was cited at 35% on a larger base; absolute growth was described as 50% before discounting commodity effects.

Outlook and guidance

• Management reiterated a 15% real-term CAGR commitment, with growth expected through H2 and the next two financial years; H2 revenue and EBITDA are expected to exceed H1.

• Stationary-engine revenue is expected to reach a ~$100m run rate by Q3/Q4 FY2030, with 30% attainment by FY2028 and 50% by FY2029.

• Consolidated net debt/EBITDA is expected at 1.7–1.8x for FY2027; price corrections are expected to benefit results over the next two quarters.

• Sunbeam expects Q3/Q4 improvement after exiting low-margin products and smaller customers; revenue may decline, but absolute margins are expected to improve.