Motilal Oswal's research report on Craftsman Automation
CRAFTSMA reported weak 3QFY24 results across the board as lower revenue at INR8.2b (vs. est. INR8.6b) impacted overall profitability. Moreover, the management remains cautious about the FY25 growth outlook as most of the underlying industries are expected to witness flat growth YoY. To factor in weak growth, we cut FY24E/25E EPS by 11%/15%. While the near-term industry outlook remains weak, we expect the company to continue to outperform the underlying industry, led by superior capabilities, the addition of new capacities, and expected benefits of import substitution.
Outlook
Reiterate our BUY rating on the stock with a TP of INR5,395 (premised on 22x Dec’25E consolidated EPS).
For all recommendations report, click here
Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
Find the best of Al News in one place, specially curated for you every weekend.
Stay on top of the latest tech trends and biggest startup news.
