Crisil revises outlook to Positive for Craftsman Automation and DR Axion
CRAFTSMAN · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Crisil revised the outlook on Craftsman Automation's long-term bank facilities from Stable to Positive, while reaffirming its AA- and A1+ ratings. The same positive outlook revision applies to wholly owned subsidiary DR Axion India. Another subsidiary, Sunbeam Lightweighting, continues on Rating Watch with Positive Implications (BBB+ and A2). The upgrade reflects 42 percent revenue growth to Rs 8,082 crore in FY26, doubling of profit to Rs 346 crore, and a recent Rs 2,000 crore QIP with Rs 1,500 crore earmarked for debt reduction. Gearing is expected to fall below 0.7 times by March 2027.
Positive outlook signals potential future rating upgrade. Strong growth, healthy margins and planned debt reduction strengthen the credit profile and are favourable for shareholders.