Geojit IPO report on Craftsman Automation
Craftsman Automation Ltd. (CAL) is a diversified engineering company with vertically integrated manufacturing capabilities, engaged in three business segments, (i) Automotive-powertrain and other products (ii) Automotive- Aluminium products and(iii) Industrial and engineering products segment. They are the largest player involved in the machining of cylinder blocks and cylinder heads in the intermediate, medium and heavy commercial vehicles segment as well as in the construction equipment industry in India. They are present across the entire value chain in the Automotive-Aluminium products segment, providing diverse products and solutions.
Valuation and Outlook
We assign a Subscribe rating, with a long term perspective, on the back of healthy growth in the OEM segment due to lower base and reduction in debt.
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