CRISIL has reaffirmed its ‘CRISIL AA-/Stable/CRISIL A1+’ ratings for Craftsman Automation and its wholly-owned subsidiary, DR Axion India Private Limited. The ratings apply to bank facilities, reflecting the credit agency’s confidence in the company’s financial stability and operational performance. This decision underlines the continued strength and reliability of both Craftsman Automation and its subsidiary in the competitive automotive sector.
CRISIL Reaffirms Credit Ratings
CRISIL Ratings Limited has reaffirmed the credit ratings for both Craftsman Automation Limited (CAL) and its wholly-owned subsidiary, DR Axion India Private Limited, in a release dated December 12, 2025. The long-term rating for both entities remains at ‘CRISIL AA-/Stable’, and the short-term rating is reaffirmed as ‘CRISIL A1+’. These ratings apply to the companies’ bank loan facilities.
Rating Rationale for Craftsman Automation
The reaffirmation of Craftsman Automation’s ratings reflects a strong uptick in its business risk profile, particularly within the aluminum segment. The ratings also factor in expectations of continuous improvement in operating profitability over the near to medium term. Consolidated operating revenues increased to ₹3786 crore during the first half of fiscal 2025.
DR Axion India Private Limited Rating Rationale
The rating reaffirmation for DR Axion India Private Limited reflects the strong parentage of Craftsman Automation and a healthy business risk profile, supported by its position as a supplier to passenger vehicle OEMs. Revenues for DR Axion grew by ~36% in the first half of fiscal 2026, driven by continued demand and increased exports. Operating margin was reported as 18.2% for the first half of the current fiscal year.
Key Financial Highlights
Some key financial indicators for Craftsman Automation, on a consolidated basis, include revenues of ₹5693 crore in fiscal year 2025 and ₹4452 crore in fiscal year 2024. The adjusted debt to adjusted net worth stood at 0.78 times in fiscal 2025. For DR Axion, revenue was ₹1299 crore in fiscal year 2025 and ₹1246 crore in fiscal year 2024.
Source: BSE
