Craftsman built a precision-machining business across three end markets, and is now adding a fourth. The commercial-vehicle cycle gave it the original platform, the industrial cycle gave it scale, and the storage business added a new category just as warehousing took off. A picks-and-shovels manufacturer can compound through more than one cycle if it earns the right capabilities. Here is the journey, year by year.
- Founded in Coimbatore in 1986, machining powertrain components for commercial vehicles and tractors.
- It became a leading Tier-1 supplier of cylinder blocks, heads and transmission housings, then diversified into industrial machining.
- It listed in 2021 and added aluminium die-casting (DR Axion) and EV components.
- By FY25 revenue topped ₹5,500 crore with three engines contributing and EV adding a fourth.
- FY25 Revenue tops ₹5,500 crore, with three engines contributing.
1986 S. Ravi founds Craftsman in Coimbatore, machining powertrain components for commercial vehicles and tractors.
2000 It becomes a leading Tier-1 supplier of cylinder blocks, cylinder heads and transmission housings.
2010 It diversifies into industrial machining beyond auto, compressed-air systems, hydraulic components and high-pressure die-casting.
Mar 2021 Craftsman lists at ₹1,490.
2022 Its industrial-machining business expands and aluminium die-casting capacity scales.
2023 It picks up DR Axion, expanding its aluminium die-casting business.
2024 It adds EV-component capability with new orders for motor housings and battery enclosures.
2025 The stock compounds across multiple cycles, EV-component revenue scales, and EV and aluminium die-casting are flagged as medium-term drivers.
2026 Three growth engines compound together, auto powertrain, industrial machining and storage, with EV adding a fourth.
The pattern is the point
Craftsman built a precision-machining business across three end markets and is adding a fourth: the commercial-vehicle cycle gave it a platform, the industrial cycle gave it scale, and the storage business arrived just as warehousing took off. A picks-and-shovels manufacturer can compound through more than one cycle, provided it keeps earning the right capabilities.
