Archive · 21 Jul 2026
Goldman Sachs Bets on Sansera, Craftsman for Growth
Goldman Sachs has started covering four Indian companies that make car parts.
They think two of them, Sansera Engineering and Craftsman Automation, are good buys because they are moving into making parts for computers and aeroplanes, which could make them more money.
The other two, Samvardhana Motherson and Bharat Forge, got a neutral rating because their growth might not be as strong or their prices are already high.
The report says the whole industry is changing and could grow a lot in the next few years.
Goldman Sachs initiated coverage on four Indian auto component manufacturers: Sansera Engineering, Craftsman Automation, Samvardhana Motherson, and Bharat Forge.
Sansera Engineering and Craftsman Automation received 'Buy' ratings with 28% and 27% upside respectively, due to diversification into semiconductor and aerospace precision machining and global data center build-out.
Samvardhana Motherson and Bharat Forge received 'Neutral' ratings with 2% and 3% upside respectively, due to slower-growing markets and already high valuations.
The Indian precision machining and auto parts industry is expected to deliver a 10% revenue CAGR and 15% EBITDA CAGR between FY26 and FY30.
Key growth drivers include electrification, exports, global supply-chain diversification, and opportunities in defence, aerospace, and semiconductors.
- Who
- Goldman Sachs
- What
- Initiated coverage on four Indian auto component manufacturers with varying ratings and target prices.
- When
- Current fiscal year and projections for FY26 to FY29.
- Where
- India
- Why
- To capitalize on the transformation phase of the Indian precision machining and auto parts industry into higher-value precision engineering businesses.
Buy Ratings
Neutral Ratings
Sansera Engineering
Buy Ratings
Buy rating with 28% upside, diversifying into semiconductor and aerospace precision machining.
Neutral Ratings
Craftsman Automation
Buy Ratings
Buy rating with 27% upside, benefiting from global data center build-out and higher-value precision engineering.
Neutral Ratings
Samvardhana Motherson
Buy Ratings
Neutral Ratings
Neutral rating with 2% upside, due to slower-growing developed markets and current valuations.
Bharat Forge
Buy Ratings
Neutral Ratings
Neutral rating with 3% downside, as expected growth is already reflected in the stock’s valuation.
- Sansera Engineering
- Buy rating, 28% upside, diversifying into semiconductor and aerospace precision machining.
- Craftsman Automation
- Buy rating, 27% upside, benefiting from global data center build-out and higher-value precision engineering.
- Samvardhana Motherson
- Neutral rating, 2% upside, due to slower-growing developed markets and current valuations.
- Bharat Forge
- Neutral rating, 3% downside, as expected growth is already reflected in the stock’s valuation.
- Indian Precision Machining and Auto Parts Industry
- Expected 10% revenue CAGR and 15% EBITDA CAGR between FY26 and FY30.