Craftsman Automation climbs over 6% on strong Q2FY23 earnings

Shares of auto components and equipment firm Craftsman Automation rallied 6% in Monday's trade to hit day’s high at Rs 2,953 per share after the firm posted strong quarterly results.

For the quarter ended September, the company posted a consolidated profit of Rs 62.48 crore as against Rs 49.96 crore during the same period last year.

Consolidated revenue from operations also increased to Rs 776 crore as against Rs 571 crore during the same period last year.


At 1:30 pm, shares of the company pared some of their initial gains and traded higher by 3% at Rs 2,849.

Out of the six analyst recommendations on the stock, five have a strong buy rating, while one has a sell call on the counter, Trendlyne data shows.

The highest estimated target price for the stock is Rs 3,600, while the average estimated price is Rs 3,212 apiece.

Craftsman Automation is a smallcap company engaged in the manufacture of precision components with an m-cap of around Rs 6,020 crore.