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.
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.
Read More