Craftsman Automation | The company terminated joint venture agreement with Mitsubishi Corporation Tokyo, MC Machinery Systems Inc USA, Mitsubishi Corporation India, and Mitsubishi Corporation Technos Japan. The company reported consolidated profit at Rs 24.07 crore in Q1FY22 against loss of Rs 16.23 crore in Q1FY21, revenue climbed to Rs 435.19 crore from Rs 163 crore YoY.
PRO Only Highlights
- Quarterly performance largely backed by improved realisations
- Medium-term triggers China plus and protectionist measures for tyre industry
- Valuations not inexpensive; but improved medium-term outlook
- Quarterly performance largely backed by improved realisations
- Medium-term triggers China plus and protectionist measures for tyre industry
- Valuations not inexpensive; but improved medium-term outlook
Craftsman Automation Ltd (CAL; CMP: Rs 2087.9; M Cap: Rs 4,410 crore), the largest player in the machining of cylinder blocks and cylinder heads, used in the commercial vehicle (CV) segment, has posted a decent set of numbers for the first quarter of FY22. Though the impact of the second wave of COVID-19 is clearly visible in the Q1FY22 numbers, the company offers significant growth opportunities, going forward. Its leadership position in its segments, coupled with encouraging CV segment demand outlook,...