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Shares of Craftsman Automation surged as much as 6.5% after the company reported a rise in earnings for the quarter ended June, with consolidated net profit more than doubling year-on-year, aided by a healthy growth in revenue and operating profit.
The company's consolidated net profit stood at ₹151 crore for the June quarter, compared with ₹70 crore a year earlier. Revenue from operations rose by 36.3% to ₹2,431.6 crore from ₹1,784 crore in the corresponding quarter last year.
Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA) increased 45% year-on-year to ₹384 crore, while the EBITDA margin expanded to 15.8% from 15% a year ago.
Also read: Devyani International share price jumps 9% after Q1 profit surges four-fold, margin improves
Separately, the board approved the setting up of a new manufacturing facility at Hosur, Tamil Nadu, to expand capacity in its aluminium products division. The proposed project will be executed in two phases with an estimated investment of ₹250 crore. The investments will be divided by ₹100 crore in Phase I and ₹150 crore in Phase II.
The company said the facility is expected to be commissioned within 6-8 months, subject to regulatory approvals, and will be funded largely through term loans along with internal accruals.
Craftsman Automation said the new plant will cater to incremental demand from automotive original equipment manufacturers (OEMs) in southern India. The company added that its existing aluminium products capacity is operating at around 85% utilisation, and the Hosur location will improve proximity to key customers, enhance logistics and support future growth.
Having made an intraday high above ₹10,000 after the results announcement, shares of Craftsman Automation are trading 5% higher at ₹9,750. The stock is up 26% so far this year.
The company's consolidated net profit stood at ₹151 crore for the June quarter, compared with ₹70 crore a year earlier. Revenue from operations rose by 36.3% to ₹2,431.6 crore from ₹1,784 crore in the corresponding quarter last year.
Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA) increased 45% year-on-year to ₹384 crore, while the EBITDA margin expanded to 15.8% from 15% a year ago.
Also read: Devyani International share price jumps 9% after Q1 profit surges four-fold, margin improves
Separately, the board approved the setting up of a new manufacturing facility at Hosur, Tamil Nadu, to expand capacity in its aluminium products division. The proposed project will be executed in two phases with an estimated investment of ₹250 crore. The investments will be divided by ₹100 crore in Phase I and ₹150 crore in Phase II.
The company said the facility is expected to be commissioned within 6-8 months, subject to regulatory approvals, and will be funded largely through term loans along with internal accruals.
Craftsman Automation said the new plant will cater to incremental demand from automotive original equipment manufacturers (OEMs) in southern India. The company added that its existing aluminium products capacity is operating at around 85% utilisation, and the Hosur location will improve proximity to key customers, enhance logistics and support future growth.
Having made an intraday high above ₹10,000 after the results announcement, shares of Craftsman Automation are trading 5% higher at ₹9,750. The stock is up 26% so far this year.
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