Craftsman Automation Limited has informed the Exchange about Credit Rating
CRAFTSMAN · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Crisil Ratings has reaffirmed its credit ratings for Craftsman Automation Limited (Long-term AA-/Stable, Short-term A1+) on Rs. 3,950 crore of bank facilities, and similarly reaffirmed ratings for its wholly owned subsidiary DR Axion India Limited on Rs. 525 crore of facilities. Separately, Crisil has upgraded the ratings of another wholly owned subsidiary, Sunbeam Lightweighting Solutions Limited (SLSL), with long-term rating moving from BBB-/Positive to BBB+/Watch Positive, and short-term from A3 to A2/Watch Positive. The company also announced that its board has approved a scheme to merge DRAIL and SLSL into a combined aluminum business entity effective April 1, 2026. The rating reaffirmation reflects strong revenue growth in the aluminum segment, with consolidated 9M FY26 revenue rising to Rs. 5,843 crore from Rs. 3,941 crore a year ago, supported by healthy operating margins around 15%.
The rating reaffirmation at AA-/Stable for the parent company signals continued strong credit quality, while the upgrade of SLSL reflects improving business profile of that subsidiary, which is generally positive for shareholders. Investors should note that debt levels are expected to temporarily rise to around Rs. 3,500 crore by end of FY26 due to capex, though debt metrics are expected to improve from next fiscal onwards.