Date: 30th June, 2026
Transaction Completion
Craftsman Automation Limited announced the completion of the sale of certain identified plant and machinery and related assets pertaining to the Piston Manufacturing Business. The transaction was executed by Sunbeam Lightweighting Solutions Limited (formerly Sunbeam Lightweighting Solutions Private Limited), a Wholly Owned Subsidiary of the Company, with SPR Auto Technologies Limited (formerly Shriram Pistons & Rings Limited).
The transaction was governed by an Asset Purchase Agreement (APA) dated 19th December, 2025, and an Amendment Agreement to the APA dated 27th March, 2026. The closing formalities for the second and final tranche were completed on 30th June, 2026, making the transaction fully completed as of this date.
Financial Terms
The aggregate consideration for the entire transaction was INR 28 Crores, exclusive of applicable GST. The payment was received in two tranches:
- First tranche: INR 10 Crores (exclusive of applicable GST) received on 31st December, 2025
- Second tranche: INR 18 Crores (exclusive of applicable GST) received on 30th June, 2026
The consideration was payable by SPR in cash in accordance with the terms and conditions of the APA read with the Amendment Agreement.
Transaction Structure
The sale was executed on a piecemeal basis, transferring identified plant and machinery along with related books and records:
- First tranche completed on 31st December, 2025: Transfer of certain identified plant and machinery with related books and records
- Second tranche completed on 30th June, 2026: Transfer of the remaining identified plant and machinery with related books and records
Related Party Status
SPR Auto Technologies Limited does not form part of the Promoter, Promoter Group, or Group Companies of Craftsman Automation Limited. SPR is not a related party as defined under Section 2(76) of the Companies Act, 2013, Regulation 2(zb) of the SEBI (LODR) Regulations, and the applicable Accounting Standards. The transaction was conducted at arm's length.
Not Applicable Sections
The following regulatory disclosure items were marked as not applicable:
- Turnover/revenue/income and net worth contribution details (as sale is of assets, not a business unit)
- Whether transaction falls under Scheme of Arrangement (not applicable)
- Slump sale disclosures (not applicable)