Craftsman Automation Ltd Completes First Tranche of Asset Purchase Agreement with Shriram Pistons & Rings Ltd

Craftsman Automation Ltd, a company listed on the stock exchange, has completed the first tranche of the asset purchase agreement (APA) with Shriram Pistons & Rings Ltd (SPRL). The APA involves the transfer of identified plant and machinery and other related assets forming part of a piston manufacturing line. The first tranche, which was completed on 31st December 2025, saw the transfer of certain identified plant and machinery and the related books and records for INR 10 Crores, exclusive of applicable GST. The sale of the remaining identified plant and machinery and the related books and records forming part of an Aluminium piston manufacturing line is expected to be consummated by 31st March, 2026. The aggregate consideration for the Proposed Transaction is Rs. 28 Crores, exclusive of applicable GST, and shall be paid by SPRL in cash in accordance with the terms and conditions of the asset purchase agreement. SPRL does not form part of the Promoter, Promoter Group, or Group Companies and the transaction is not considered a related party transaction.