Craftsman Automation Ltd

- The company recently raised equity through a Qualified Institutional Placement (QIP) totaling INR 1,200 crores, in addition to earlier capital infusions of INR 150 crores each via private equity and IPO, marking substantial equity fundraising. - Regarding debt, the consolidated net debt is around INR 1,800-1,900 crores with an interest cost of about 9%-10%. - Debt repayment is planned to be linear over 5 to 6 years with a significant reduction expected next year, partly due to the planned sale of the Gurgaon land valued at around INR 300 crores. - There is no specific mention of new fundraising through debt or equity beyond the recent QIP and existing debt management plans. - Capex for the current and next year suggests internal funding, with no explicit announcement of additional fundraising.

- Current year investments totaled INR 1,015 crores: - DR Axion: INR 250 crores for 24% stake balance - Sunbeam: INR 606 crores as optionally convertible debentures (OCD) - Craftsman Germany: INR 154 crores (INR 94 crores acquisition + INR 60 crores working capital) - Greenfield capex: - Total INR 700 crores till date - Bhiwadi plant: INR 219 crores (excluding land) - Kothavadi plant: INR 91 crores - Capex done at stand-alone Craftsman: INR 700 crores + INR 150 crores expected in next quarter, approx. INR 850 crores for current year - Next year's capex guidance: expected to be less than half of current year including maintenance capex - Strategic focus on capacity expansion, especially: - Greenfield plants at Bhiwadi and Kothavadi - Modernization plans for subsidiaries like Sunbeam under consideration

- Consolidated revenue expected to grow from INR 5,500 crores to around INR 7,000 crores in next financial year, indicating ~27% growth. - EBITDA projected to increase from around INR 850 crores to northwards of INR 1,100 crores (approx. 29% growth). - EBIT expected to rise from INR 500 crores to about INR 700 crores (40% growth). - Bhiwadi alloy wheel plant expected to generate over INR 300 crores revenue, with peak combined capacity of Bhiwadi and Hosur alloy wheel plants at INR 800 crores by FY '27. - Kothavadi plant to contribute around INR 150 crores. - Stationary engines segment targeting $100 million revenue by FY '29, with initial revenues expected to start post approval gestation. - Export of castings (currently imported) to increase, facilitated by machining facilities in India. - Automated storage business to reach around INR 500 crores revenue, becoming a top player in India. - Overall, growth driven by capacity expansion, new acquisitions, and entry into high-growth segments like stationary engines and alloy wheels.

- Craftsman Automation targets consolidated revenue growth from around INR 5,500 crores to approximately INR 7,000 crores in FY '26, indicating ~27% increase. - EBITDA is expected to rise from about INR 850 crores to over INR 1,100 crores (~29% growth). - EBIT projected to increase by 40%, from INR 500 crores to INR 700 crores. - Powertrain segment growth is expected, with significant acceleration likely from FY '27 onwards. - Bhiwadi plant to achieve EBIT neutrality starting Q1 FY '26, with positive EBIT by year-end. - Sunbeam subsidiary to become EBIT positive by Q2 FY '26 and EBIT neutral for the full year. - Depreciation expected around INR 400 crores for FY '26, with interest cost around 9%-10%. - Tax rate expected to remain at normal corporate rates (~25%) except for Sunbeam subsidiary, which may gain INR 100 crores tax benefit over 2-3 years. - The company is investing in capacity expansion, indicating short-term leverage but aiming for strong medium-term profit growth.

- Automated storage order book is full as per the latest update. - For automated storage, revenues are from orders received over a year ago due to long gestation (~1+ year) involving new building sites and complex integration. - Automated storage year-to-date revenue stands at INR 142 crores for 9 months. - Static storage segment revenue is around INR 250 crores for 9 months. - Total storage segment revenue approximates INR 400 crores for 9 months, with expected closure at around INR 500 crores for the financial year. - Stationary engine business has received orders from 5 of the top 10 global customers. - Target revenue for stationary engine segment is approx. $100 million (~INR 800+ crores) by FY '29. - Casting and machining orders in stationary engine segment are progressing with customer validations underway, with sample machining started. - Alloy wheel plants at Bhiwadi and Hosur fully booked with existing orders.