Craftsman Automation Subsidiary Acquires Land Assets for ₹145.85 Crore Chennai Plant
Craftsman Automation's subsidiary DR Axion India has acquired two companies - Suprash Developers and its subsidiary Srikara Technologies - for ₹145.85 crore to secure 52.83 acres of industrial land in Kancheepuram District. This strategic acquisition directly supports the company's previously announced ₹280 crore Chennai manufacturing plant expansion, which aims to add 15% capacity to address growing demand in aluminium products for automotive and industrial sectors.
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Craftsman Automation Limited , a prominent player in the Indian manufacturing sector, has made significant progress in its Chennai expansion plans through a strategic acquisition by its wholly-owned subsidiary, DR Axion India Private Limited.
Major Acquisition for Land Procurement
DR Axion India has entered into a Share Purchase Agreement on December 19, 2025, to acquire 100% equity shares of Suprash Developers Private Limited along with its wholly-owned subsidiary, Srikara Technologies Private Limited. This acquisition provides access to crucial land assets for the previously announced Chennai manufacturing plant.
| Acquisition Details: | Specifications |
|---|---|
| Total Investment: | ₹145.85 crore |
| Land Area: | 52.83 acres |
| Location: | Araneri Village, Sriperumbudur Taluk, Kancheepuram District |
| Acquisition Date: | December 19, 2025 |
| Completion Timeline: | On or before December 31, 2025 |
Strategic Land Assets
The acquired Special Purpose Vehicles (SPVs) collectively own 52.83 acres of strategically located industrial land at Araneri Village, Sriperumbudur Taluk, Kancheepuram District. Both companies are primarily engaged in developing, leasing, and licensing of industrial projects, making them ideal vehicles for DR Axion's manufacturing expansion plans.
| Company Profile: | Suprash Developers | Srikara Technologies |
|---|---|---|
| Authorized Capital: | ₹10.00 lakh | ₹10.00 lakh |
| Paid-up Capital: | ₹2.29 lakh | ₹2.43 lakh |
| Business Focus: | Industrial project development | Industrial project development |
| Registered Office: | Chennai, Anna Nagar | Chennai, Egmore |
Original Expansion Plan Context
This acquisition directly supports the company's earlier announced expansion plan for establishing a new manufacturing plant in the Chennai Metropolitan Area with an estimated investment of ₹280.00 crore. The original expansion details include:
| Original Plan Parameters: | Details |
|---|---|
| Total Plant Investment: | ₹280.00 crore |
| Capacity Addition: | 15% increase |
| Implementation Timeline: | 12-24 months |
| Financing Structure: | 90% term loan, 10% internal accruals |
Corporate Structure Impact
Upon completion of the transaction, Suprash Developers will become a wholly-owned subsidiary of DR Axion India, while Srikara Technologies will become a step-down subsidiary. Consequently, both entities will fall under Craftsman Automation's corporate umbrella as step-down subsidiaries.
Industry Significance
This acquisition represents a crucial milestone in Craftsman Automation's capacity expansion strategy, addressing the full utilization of its existing Othappai facility in Thiruvallur. The secured land assets provide the necessary foundation for the company's anticipated growth in aluminium products demand across automotive and industrial sectors. The strategic location in Sriperumbudur, known for its robust industrial infrastructure and automotive manufacturing ecosystem, positions the company advantageously for future operations.
Historical Stock Returns for Craftsman Automation
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| +3.03% | +6.27% | -5.76% | +48.64% | +69.60% | +353.17% |
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