Craftsman Automation (CRAFTSMAN) Q4 23/24 earnings summary

Executive summary

• FY24 consolidated revenue reached ₹4,451.73 crore vs ₹3,182.60 crore; PAT rose to ₹337.33 crore from ₹250.96 crore, with the DR Axion acquisition contributing to the comparison gap.

• Growth was led by Aluminium Products, while Powertrain and Industrial & Engineering were broadly steady; investment focused on capacity, backward integration and diversification.

• Consolidated EBITDA increased to ₹896.92 crore from ₹696.63 crore; standalone PAT and EBITDA declined YoY amid higher finance costs and depreciation.

Financial highlights

• Consolidated revenue ₹4,451.73 crore vs ₹3,182.60 crore; EBITDA ₹896.92 crore vs ₹696.63 crore; PAT ₹337.33 crore vs ₹250.96 crore.

• Consolidated EPS ₹144.11 vs ₹117.56; net worth ₹1,752 crore vs ₹1,438 crore.

• Standalone revenue ₹3,207.79 crore vs ₹2,980.24 crore; EBITDA ₹656.17 crore vs ₹671.33 crore; PAT ₹197.59 crore vs ₹237.76 crore.

• Standalone PBT fell to ₹265.50 crore from ₹339.45 crore; finance costs rose to ₹154.62 crore from ₹116.91 crore.

Outlook and guidance

• Two greenfield facilities in South India and North India were under development; added capacity was expected to begin operations in FY25.

• Powertrain plans to serve off-highway, power-generation and large-engine demand through large-part machining and an integrated foundry; management cited customer engagements and some commitments.

• Aluminium capacity expansion and a North India facility target growing northern demand; new customer engagements and a South Korea export order were expected to contribute commercial volumes in FY25.

• Storage Solutions entered FY25 with a strong order book; strategy targets broader sectors, geographies and automated product offerings.

• Medium-term growth priorities include acquisition synergies, deeper customer engagement, aligned capacity additions and specialised large ferrous castings.