Carraro India Share Price

Indian arm of italian driveline maker bets big on electric tractors and farm tech shift

• Business Line
• 2 months 3 weeks ago

Commercial Vehicles company Carraro India announced Q3FY26 results Revenue: Rs 5,768 million against Rs 4,528 million during Q3FY25, change 27%. EBITDA: Rs 624 million against Rs 365 million during Q3FY25, change 71%. EBITDA Margin: 10.8% for Q3FY26. PAT: Rs 281 million against Rs 147 million during Q3FY25, change 91%. PAT Margin: 4.9% for Q3FY26. Balaji Gopalan, Managing Director, Carraro India, said: 9MFY26 Performance Overview “For nine months FY26, Carraro India delivered a strong and encouraging performance. Revenue from operations grew 21% YoY, supported by healthy momentum across both domestic and export markets. Domestic revenues increased 17% YoY, led by robust demand for 4WD axles in the agriculture segment, while exports grew 29% YoY, driven by higher offtake of Tele Boom Handler (TBH) axles. In line with our guidance, we continued to deliver strong volumes, reinforcing our confidence in the sustainability of our operating performance. Profitability improved meaningfully, with EBITDA up 28% YoY, supported by operating leverage, disciplined cost management and execution efficiencies, even as product mix remained dynamic across quarters. Our engineering services business gained further traction, with revenues of Rs 50 million in Q3FY26 and Rs 100 million in 9MFY26, supported by steady customer enquiries and progress in key development programmes, including e-transmissions for electric agricultural tractors, CVT pilot units, and new prototype development. With positive off-highway market sentiment and strong execution momentum, we remain confident of scaling Carraro India beyond our earlier guidance in revenues by FY30, surpassing our earlier ambition, while continuing to focus on disciplined execution and value-driven growth. On the manufacturing front, we strengthened capability through key equipment additions to improve throughput, flexibility and quality. Importantly, the Board has approved a capex outlay of Rs 623 million to expand axle capacity from 1,34,028 to up to 1,54,160, to be completed over the next 18 months, funded through a mix of internal accruals and debt. This expansion is aligned with our strong demand outlook, with the plant currently operating at over 90% utilization. We also inaugurated our first Authorized Service Centre in Faridabad and remain on track to establish four centers across India in 2026, strengthening our aftermarket and customer support ecosystem. Carraro India is not just performing – it is transforming, innovating and leading across markets and technologies.” Result PDF

• Trendlyne
• 3 months 1 week ago

Conference Call with Carraro India Management and Analysts on Q3FY26 Performance and Outlook. Listen to the full earnings transcript.

• Trendlyne
• 3 months 1 week ago