Craftsman Automation is Gearing up to Lead India’s Futuristic Auto Industry
auto sector has witnessed a series of technological advancements and shifts in customer preferences over the years. From the dominance of geared scooters to the rise of automatic scooters, the industry has been evolving. Now, with the emergence of electric vehicles (EVs), there's a notable shift toward sustainable and eco-friendly transportation.
This dynamic landscape presents both, challenges and opportunities for auto ancillary companies. While some companies may face massive risks due to their limited ability to adapt, others like Craftsman Automation have demonstrated high-skill and prowess to transform themselves from traditional auto component manufacturers to automotive technology solutions providers. Craftsman Automation is a leading auto ancillary and engineering company in India.
It manufactures precision components for the automotive, industrial, and engineering sectors. The company operates in three primary business segments, two of which cater to the automobile segment. The largest (51% revenue for financial year 2023) is the powertrain segment that manufactures precision components for powertrains, such as gears, shafts, and bearings.
This is followed by the aluminium product segment (25% of financial year 2023 revenues), which manufactures aluminium components for automotive applications, such as engine blocks, cylinder heads, and transmission housings. The third is the industrial and engineering segment (24% of financial year 2023 revenues), which manufactures a wide range of precision components for industrial and engineering applications, such as gearboxes, storage solutions, and special-purpose machines. The well-diversified business has allowed the company to support growth and sustain profit
. Read more on livemint.com
