The company presently operates aluminium product manufacturing facilities in Southern India, catering primarily to leading two-wheeler and passenger vehicle OEMs
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Craftsman Automation
Craftsman Automation Ltd is setting up a new manufacturing facility in Hosur, Tamil Nadu, at a total cost of ₹250 crore. This expansion aims to meet the incremental demand from automotive OEM customers in Southern India, the company informed the stock exchanges.The Coimbatore-based manufacturer of aluminium casting products and powertrain components in the automotive and industrial engineering sectors stated that, in the first phase, the investment is expected to be around ₹100 crore and, in the second phase, around ₹150 crore. The proposed facility is expected to be commissioned within 6 to 8 months, according to the filing.The company presently operates aluminium product manufacturing facilities in Southern India, catering primarily to leading two-wheeler and passenger vehicle OEMs. The aluminium products division’s existing capacity utilisation is around 85 per cent.With existing capacities nearing optimal utilisation levels and in view of the growing demand from customers in the region, the Board has approved the establishment of an additional manufacturing facility at Hosur, Tamil Nadu. The proposed location provides strategic proximity to key OEM customers and is expected to enhance operational efficiency, improve logistics and support future business growth.Q1 profit doublesMeanwhile, the company’s consolidated net profit in Q1 FY27 more than doubled to ₹151 crore, up from ₹70 crore in the corresponding quarter last year. Revenue was 36 per cent higher at ₹2,432 crore (₹1,784 crore). All three segments — powertrain, aluminium products and industrial and engineering — reported significant growth during the quarter, according to the company’s statements.QIP raise aggregating ₹2,000 croreDuring the quarter ended June 30, 2026, the company issued 22,98,850 equity shares of face value ₹5 each through Qualified Institutions Placement at an issue price of ₹8,700 per share (including securities premium of ₹8,695 per share) aggregating ₹2,000 crore.The objects of the QIP, as per the placement document, are repayment / pre-payment, in full or in part, of certain borrowings of the company and general corporate purposes. A part of the proceeds were utilised till the end of the quarter towards these objects and the balance proceeds will be utilised in the subsequent period, the filing said.Published on July 29, 2026
