Weakness in underlying industries dents overall performance

Company
30 Jan 2024
5 Min read 
  • Craftsman Automation reported weak 3QFY24 results due to lower revenue and cautious outlook for FY25.
  •  FY25 growth in underlying industries expected to remain flat, impacting Craftsman Automation's performance.
  •  EPS estimates for FY24 and FY25 reduced by 11% and 15% respectively.
  •  Despite weak industry outlook, Craftsman Automation expected to outperform due to superior capabilities and new capacities.
  •  Reiterate BUY rating with a target price of INR5,395.
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