BUSINESS

To obtain a complete understanding of our business, investors should read this section in conjunction with “Risk
Factors”, “Industry Overview”, “Financial Information” and “Management’s Discussion and Analysis of
Financial Condition and Results of Operations” on pages 22, 96, 225 and 288, respectively, as well as the
financial, statistical and other information contained in this Prospectus. Some of the information in the following
section, especially information with respect to our plans and strategies, includes certain forward-looking
statements that involve risks and uncertainties. You should read “Forward-Looking Statements” on page 15 for
a discussion of the risks and uncertainties related to those statements, and also the “Risk Factors” on page 22
for a discussion of certain risks that may affect our business, financial condition, or results of operations. Our
actual results may differ materially from those expressed in, or implied by, forward-looking statements.

    

The industry data in this chapter has been extracted from the report titled “Studying the Automotive and Industrial
Engineering Business in India” dated December 2020, prepared by CRISIL Research (the “CRISIL Report”).
Neither we, nor the BRLMs, nor any other person connected with the Offer has independently verified this
information. Industry sources and publications generally state that the information contained therein has been
obtained from sources generally considered to be reliable, but their accuracy, completeness and underlying
assumptions are not guaranteed and their reliability cannot be assured. Industry publications are also prepared
based on information as of specific dates and may no longer be current. For further information, see “Certain
Conventions, Use of Financial Information and Market Data and Currency of Presentation - Industry and
Market Data” and “Industry Overview” on pages 12 and 96, respectively.

Unless the context otherwise requires, references to “our Company” are to Craftsman Automation Limited on a
standalone basi: * ”

while references to “we”, “us” or “our” are to Craftsman Automation Limited on a
consolidated basis.

 

Our Financial Year ends on March 31 of each year, and references to a particular Financial Year are to the
twelve-month period ended March 31 of that year. Unless otherwise stated, or the context otherwise requires, the
financial information used in this section is derived from our Restated Financial Information included on page
225.

Overview

We are a diversified engineering company with vertically integrated manufacturing capabilities, engaged in three
business segments, namely powertrain and other products for the automotive segment (“Automotive -
Powertrain and Others”), aluminium products for the automotive segment (“Automotive — Aluminium
Products”), and industrial and engineering products segment (“Industrial and Engineering”). We are the largest
player involved in the machining of cylinder blocks and cylinder heads in the intermediate, medium and heavy
commercial vehicles segment as well as in the construction equipment industry in India. We are among the top
three-four component players with respect to machining of cylinder block for the tractor segment in India.
(Source: CRISIL Report). We are present across the entire value chain in the Automotive-Aluminium Products
segment, providing diverse products and solutions. Our strong in-house engineering and design capabilities help
us offer comprehensive solutions and products to our long standing domestic and international customers in each
of the segments in which we operate.

Our comprehensive solutions include design, process engineering and manufacturing including foundry, heat
treatment, fabrication, machining and assembly facilities. Our core competence in machining and assembly of
industrial and engineering products has helped us to first establish ourselves as a significant player in the
Automotive - Powertrain and Others segment. Our key products in this segment are highly engineered and include
engine parts such as cylinder blocks and cylinder heads, camshafts, transmission parts, gear box housings, turbo
chargers and bearing caps. The end users for our products include OEMs producing commercial vehicles, special
utility vehicle, tractors and off-highway vehicles. Additionally, we also provide machining services within our
Automotive — Powertrain and Others segment. Over the years, we have been instrumental in import substitution
for critical powertrain parts.

 

We have leveraged our long-term presence in developing aluminium products for precision components to also
establish and grow the Automotive - Aluminium Products segment. Within our Automotive — Aluminium
Products segment, we are equipped with an array of processes including the high pressure die casting, low pressure
die casting and gravity die casting machines to manufacture components, machining tools for machining and
assembly lines. Our key products are highly engineered and include crank case and cylinder blocks for two

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