Chennai: Craftsman Automation Ltd, a manufacturer of auto components, plans to invest Rs 250 crore to expand its aluminium products manufacturing capacity at Hosur, Tamil Nadu, to meet rising demand from automotive original equipment manufacturers (OEMs) in southern India.The Coimbatore-headquartered company will undertake the capacity expansion in two phases, with Phase I involving an estimated investment of Rs 100 crore and Phase II requiring about Rs 150 crore. The expansion will be financed largely through term loans, with the remaining requirement to be met through internal accruals.The proposed facility is expected to be commissioned within six to eight months, the company said in a filing with the stock exchanges.The company said its existing aluminium products division is operating at around 85% capacity utilisation. With demand from two-wheeler and passenger vehicle OEMs continuing to grow and its current facilities nearing optimal utilisation, the company has decided to establish an additional manufacturing facility at Hosur.Meanwhile, the company posted a consolidated profit after tax of Rs 151 crore for the quarter ended June 2026, compared with Rs 70 crore in the corresponding quarter last year. Consolidated revenue from operations rose to Rs 2,432 crore from Rs 1,784 crore.During the quarter ended June 30, 2026, the company raised Rs 2,000 crore through a Qualified Institutions Placement (QIP). The proceeds will be used primarily to repay or prepay a part of the company’s borrowings and for general corporate purposes. By the end of the quarter, the company had utilised a portion of the funds, while the remaining Rs 912.08 crore will be deployed in the coming quarters.
