Buy Craftsman Automation; target of Rs 2655: Anand Rathi

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26 Aug, 2025 12:21

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Anand Rathi's research report on Craftsman Automation

Dominance in machining critical power-train components, versatility in aluminium die-casting along with growth augur well for Craftsman in posting strong growth for the next 2-3 years. Also, growth being a function of capital formation in the country, Craftsman’s industrial and engineering division is expected to grow strong, driven by the expected increase in capex. We maintain a Buy, at a target price of Rs.2,655 (20x FY23e).

Outlook

We expect a 19% revenue CAGR over FY21-23; and 70%earnings growth, leading to an EPS of Rs133. We maintain a Buy rating, with a target price of Rs2,655 (20x FY23e). Risks: Decline in the underlying OEM business.

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