Craftsman Q1: consolidated PAT doubles to ₹151 Cr, revenue up 36% on aluminium ramp
PAT +116.3% YoY · revenue +36.3% · margins expanding
₹2,431.58 Cr
+36.3% YoY
₹150.55 Cr
+116.3% YoY
6.13%
+2.2pp YoY
₹62.25
Craftsman Automation reported a strong Q1 FY27 (quarter ended 30 June 2026). Consolidated revenue rose 36.3% YoY to ₹2,431.58 Cr and 9.2% QoQ, while net profit more than doubled to ₹150.55 Cr from ₹69.60 Cr a year ago (+116% YoY, +29% QoQ). With no exceptional item this quarter against an ₹8.2 Cr exceptional loss in the year-ago base, adjusted PAT growth is still ~93% — a genuinely strong print, not an accounting artefact. Basic EPS was ₹62.25 versus ₹29.18. Net margin expanded to 6.19% from 3.89% YoY, though EBITDA margin held roughly flat near 15.8%, so the bottom-line jump is driven by operating leverage and a lower relative cost base rather than gross-margin expansion; finance cost rose to ₹86.2 Cr from ₹66.3 Cr as the balance sheet grew.
Q1 FY-2027 vs prior quarters
The growth is led by Aluminium Products, where segment revenue surged ~38% YoY to ₹1,479 Cr, alongside Industrial & Engineering (+52%) and Powertrain (+25%). A material caveat: consolidated numbers are not fully comparable to Q1 FY26 because the Sunbeam and DR Axion subsidiaries were consolidated during FY26, so part of the 36% topline is acquisition-led. The standalone entity — which strips out those acquired units — grew even faster, PAT +136% YoY to ₹93.93 Cr on revenue up 42% to ₹1,483.53 Cr, showing the core Craftsman business is expanding strongly on its own. Standalone and consolidated tell the same directional story (both PAT up well over 100%), so neither number contradicts the other.
The stock went into the print at ₹9,804, up 3.7% over the past month of trading.
For context: this is the highest quarterly PAT in the last 6 quarters on our records; PAT has now risen for 5 consecutive quarters; revenue is at a 6-quarter high.
Management guides for mid-teens revenue growth in FY27, driven by double-digit growth in the powertrain segment and expansion in the aluminum business. Near-term margins are expected to remain under pressure due to a significant capex cycle, restructuring activities at the Sunbeam acquisition, and rising inflationary c
— This quarter: beat
Against management's own guidance from the Q4 concall — mid-teens FY27 revenue growth with near-term margins expected to stay under pressure from the capex cycle, Sunbeam restructuring and inflation — this quarter runs ahead on both counts: reported revenue growth is well above mid-teens (aided by acquisitions) and margins expanded rather than compressed, confirming the confident tone management struck in May. No published Q1 FY27 street PAT consensus was found ahead of the 30 July earnings call; the read on the Street was centred on margin recovery and the ramp-up of new aluminium casting capacity, both of which the print addresses. During the quarter the company completed a ₹2,000 Cr QIP at ₹8,700/share for debt repayment (₹912 Cr of proceeds still undeployed), directly serving its stated deleveraging goal of net debt/EBITDA below 2.0x, and commenced operations at a new Ludhiana plant.
W1
Margin trajectory through the guided capex cycle and Sunbeam restructuring — whether the ~15.8% EBITDA margin and 6.19% net margin hold, versus management's caution on near-term margin pressure
W2
Deployment of the remaining ₹912 Cr QIP proceeds and progress toward the net-debt/EBITDA <2.0x deleveraging target
W3
Durability of organic growth as new aluminium capacity and the Ludhiana plant ramp — standalone +42% shows the core is growing, but consolidated 36% is acquisition-flattered until the base normalises
Source in Lakhs, converted to Cr (÷100). No exceptional item this quarter; year-ago Q1 had ₹8.2 Cr exceptional loss (raw PAT +116% YoY, adjusted ~+93%). Consolidated NOT fully comparable to Q1FY26 — Sunbeam & DR-Axion subsidiaries consolidated during FY26 (note 6). Consol PBT includes ₹0.62 Cr JV profit share. Two EPS lines shown (line 10: 62.25; line 14: 62.12) — used standard P&L EPS 62.25. ₹2,000 Cr QIP at ₹8,700/share completed during the quarter (note 4). Consol tax = current 41.20 + deferred 9.27.