CRAFTSMAN · Automobile and Auto Components
Craftsman Automation Ltd. reported revenue of ₹2,057 cr for October to December 2025, +30.5% on the year and +2.7% on the quarter. It is the highest quarterly revenue in the last 11 quarters on record. Over the last four quarters revenue comes to ₹7,592 cr, +50.5% on the four before.
Operating profit (EBITDA) was ₹312 cr, a margin of 15.2%, +254 bps on the year and +8 bps on the quarter. Over the last 8 quarters the margin has ranged from 12.6% to 18.7%, averaging 15.4%. Operating costs grew +26.7% against revenue growth of +30.5%, so more of each rupee of sales reached operating profit.
Net profit was ₹107 cr, +723.1% on the year and +17.6% on the quarter, with earnings per share of ₹44.90. Profit before other income, one-offs and tax grew 218.9%, so 504 points of the headline growth came from outside the core business. The tax rate of 25% is in line with its recent average. Profit over the last four quarters totals ₹335 cr, +63.4% on the four before.
A vehicle maker's revenue is volumes times average price, and its margin moves with steel, aluminium and rubber costs and with the share of exports and premium models. The quarterly statements do not carry volumes, realisation per vehicle and the export share; those come with the filing read.
On earnings per share of ₹140.16 over the last four quarters, the stock at ₹10,963.00 trades at 78.2 times trailing earnings.
Written from the quarterly statements. The filing read adds the balance sheet and cash flow, the auditor's review, segment results, one-off items line by line and what management said on the call.
Most of the profit growth did not come from the business. What lifted the gap?
Reported profit +723.1% on the year; profit before other income, exceptional items and tax +218.9%.
Source: Quarterly statements
Could not run on this quarter: Exceptional items that recur, Cash behind the profit, Receivables against sales, Inventory against sales, Borrowing while holding cash, Auditor's review or audit report, IPO money used as stated, Related-party transactions, Exits, postponements, restatements, Promoter pledges and allotments, Earlier promises against delivery, When the results were filed. Most need the filing read (balance sheet, cash flow, auditor, disclosures).
Net profit a year ago, each driver's change, and net profit now. Blue added profit, red took it away.
| Q3 FY24 | Q4 FY24 | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 | Q2 FY27 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | ₹1,130 cr | ₹1,105 cr | ₹1,151 cr | ₹1,214 cr | ₹1,576 cr | ₹1,749 cr | ₹1,784 cr | ₹2,002 cr | ₹2,057 cr | ₹2,226 cr | ₹2,432 cr | ₹2,945 cr |
| YoY | — | — | +11% | +3% | +39% | +58% | +55% | +65% | +31% | +27% | +36% | +47% |
| EBITDA margin | 19.5% | 18.7% | 17.1% | 15.9% | 12.6% | 14.0% | 14.9% | 15.1% | 15.2% | 16.1% | 15.8% | 13.3% |
| Other income, % of PBT | 4% | 6% | 6% | 9% | −19% | −7% | −3% | 7% | 17% | 11% | 12% | 10% |
| Exceptional items | — | — | — | — | — | — | — | — | — | — | — | — |
| Tax rate | 26% | 25% | 26% | 25% | 59% | 12% | 26% | 28% | 25% | 33% | 25% | 25% |
| Net profit | ₹81.0 cr | ₹71.0 cr | ₹59.0 cr | ₹62.0 cr | ₹13.0 cr | ₹67.0 cr | ₹70.0 cr | ₹91.0 cr | ₹107 cr | ₹116 cr | ₹151 cr | ₹153 cr |
| YoY | — | — | −27% | −40% | −84% | −6% | +19% | +47% | +723% | +73% | +116% | +68% |
| Core profit YoY | — | — | −26% | −42% | −65% | −8% | +28% | +55% | +219% | +90% | +82% | +59% |
| EPS | ₹34.61 | ₹29.50 | ₹22.30 | ₹25.86 | ₹5.42 | ₹27.99 | ₹29.18 | ₹38.09 | ₹44.90 | ₹48.80 | ₹57.56 | ₹58.57 |
| Flags | · | · | 1 | 1 | 1 | 3 | ✓ | 1 | 1 | ✓ | 1 | ✓ |
Each quarter is read with the same rules. Balance-sheet and cash checks run on half-year and annual quarters; filing-read checks run where a read exists.
Craftsman Automation Ltd. reported revenue of ₹2,057 cr (+30.5% on the year) and net profit of ₹107 cr (+723.1% on the year) for October to December 2025.
Profit before other income, exceptional items and tax moved +218.9% on the year, against +723.1% for reported profit.
1 check raised a question: Most of the profit growth did not come from the business. What lifted the gap?
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