Anand Rathi's research report on Craftsman Automation
For Craftsman Automation, strong y/y growth across divisions was the highlight of the quarter. Value addition across the powertrain and aluminium business has sustained in percentage terms; we expect the pace to continue in the near term. Demand for M&HCVs is robust, PVs were good while 2Ws were tepid after the festival season, but are expected to return to normalcy in the long term.
We maintain a Buy, at a revised TP of Rs3,891 (19x FY25e).