Craftsman Automation announced that its subsidiary, Sunbeam Lightweighting Solutions has been assigned the following credit ratings by CRISIL Ratings as under: Long term rating - CRISIL BBB-/ Stable Short term rating - CRISIL A3 Powered by Capital Market - Live

Net profit of Craftsman Automation declined 34.75% to Rs 61.69 crore in the quarter ended September 2024 as against Rs 94.54 crore during the previous quarter ended September 2023. Sales rose 2.96% to Rs 1213.95 crore in the quarter ended September 2024 as against Rs 1179.06 crore during the previous quarter ended September 2023. ParticularsQuarter EndedSep. 2024Sep. 2023% Var. Sales1213.951179.06 3 OPM %15.8820.14 - PBDT158.30200.88 -21 PBT82.15134.05 -39 NP61.6994.54 -35 Powered by Capital Market - Live

Consolidated profit before tax stood at Rs 82.15 crore in Q2 FY25, down 38.71% from Rs 134.05 crore posted in the corresponding quarter previous year. Total expenses rose 8.44% to Rs 1,138.64 crore in quarter ended 30 September 2024. Cost of sales and services was at Rs 701.65 crore (up 9.18% YoY) and employee benefit expenses stood at Rs 83.22 crore (up 15.21% YoY) during the quarter. The company's revenue from Powertrain stood at Rs 431.11 crore (up 9.47% YoY), revenue from Aluminium Products was at Rs 582.66 crore (down 1% YoY) and revenue from Industrial & Engineering stood at Rs 200.18 crore (up 1.77% YoY) in Q2 FY25. On half year basis, the company's consolidated net profit decreased 32.03% to Rs 114.88 crore on 6.69% rise in revenue to Rs 2,365.14 crore in H1 FY25 over H1 FY24. Craftsman Automation is a diversified engineering company with vertically integrated manufacturing capabilities, engaged in three business segments, namely automotive-powertrain and others, automotive'aluminum products, and industrial and engineering. Shares of Craftsman Automation added 1.58% to Rs 5,593.10 on the BSE.Powered by Capital Market - Live

Craftsman Automation will hold a meeting of the Board of Directors of the Company on 23 October 2024.Powered by Capital Market - Live

Craftsman Automation has received reaffirmation in credit ratings for bank facilities at 'CRISIL AA-;Stable/ CRISIL A1+'. Powered by Capital Market - Live

The domestic equity benchmarks traded with limited losses in the mid-morning trade. The Nifty traded below the 24,350 mark. Bank shares slipped for the third consecutive trading sessions. At 11:30 IST, the barometer index, the S&P BSE Sensex, was down 364.25 points or 0.43% to 79,802.63. The Nifty 50 index shed 81.50 points or 0.33% to 24,332.45. In the broader market, the S&P BSE Mid-Cap index shed 0.27% and the S&P BSE Small-Cap index rose 0.02%. The market breadth was positive. On the BSE, 1,936 shares rose and 1,754 shares fell. A total of 138 shares were unchanged. Buzzing Index: The Nifty Bank index fell 1.15% to 50,724.95. The index declined 2.97% in the three trading sessions. Axis Bank (down 6.36%), ICICI Bank (down 2.29%), AU Small Finance Bank (down 2.03%), IDFC First Bank (down 0.89%), State Bank of India (down 0.85%), Bank of Baroda (down 0.78%), IndusInd Bank (down 0.55%), Federal Bank (down 0.16%) edged lower. On the other hand, Kotak Mahindra Bank (up 0.81%) ,Punjab National Bank (up 0.71%) and HDFC Bank (up 0.46%) added. Axis Bank tumbled 6.36%. The bank reported 4.1% rise in standalone net profit to Rs 6,034.64 crore on 16.97% increase in total income to Rs 35,844.22 crore in Q1 FY25 over Q1 FY24. Stocks in Spotlight: Craftsman Automation slipped 2.68%. The company reported 28.6% fall in consolidated net profit to Rs 53.19 crore in Q1 FY25 from Rs 74.48 crore in Q1 FY24. Net sales increased by 10.9% year-over-year (YoY) to Rs 1,151.19 crore in the first quarter of 2024-25. JK Paper fell 6.99% after the company's consolidated net profit tumbled 54.73% to Rs 139.72 crore in Q1 FY25 as against Rs 308.67 crore posted in same quarter last year. Revenue from operations rose 8.16% year on year (YoY) to Rs 1,713.65 crore in the quarter ended 30 June 2024. Larsen & Toubro (L&T) added 1.44% after the EPC major's consolidated net profit rose 11.74% to Rs 2,785.72 crore on 15.12% increase in revenue from operations to Rs 55,119.82 crore in Q1 FY25 over Q1 FY24. Global Markets: Asian markets declined on Thursday as investors took a breather from the AI-fueled rally that has propelled stocks higher this year. Japan and South Korea both saw declines of over 2%, with chipmaker SK Hynix Inc. leading the downturn despite strong earnings. The US market suffered a significant setback, with the S&P 500 plunging 2.3% ' its worst day since December 2022. This marked the end of the longest period without a 2% drop since the 2008 financial crisis. The tech-heavy Nasdaq 100 plummeted 3.64%, dragged down by its largest components. Alphabet Inc. fell 5% after revealing higher-than-expected spending on its AI initiatives. Tesla Inc.'s stock plunged 12% following a disappointing profit report and delay of its robotaxi service. Nvidia Corp. also dropped 6.8%. The slump in the Magnificent Seven tech giants triggered a broad market sell-off. The Dow Jones Industrial Average also declined 1.25%. Powered by Capital Market - Live

Net sales increased by 10.9% year-over-year (YoY) to Rs 1,151.19 crore in the first quarter of 2024-25. Total operating expenditure rose by 15.8% to Rs 953.86 crore in Q1 FY25 over Q1 FY24, due to higher raw material costs (up 11.9% YoY), higher other expenses (up 9.5% YoY) and higher employee expenses (up 10.2% YoY). Interest payments and depreciation charges for Q1 FY25 were Rs 49.15 crore (up 15.9% YoY) and Rs 72.49 crore (up 6.2% YoY), respectively. Profit before tax in Q1 FY25 stood at Rs 80.71 crore, down by 24.9% from Rs 107.45 crore posted in Q1 FY24. Craftsman Automation is a diversified engineering company with vertically integrated manufacturing capabilities, engaged in three business segments, namely automotive-powertrain and others, automotive'aluminum products, and industrial and engineering. Powered by Capital Market - Live