Carraro India Ltd
Incorporated in 1997, Carraro India Ltd manufactures axles and transmission systems for agricultural tractors and construction vehicles[1]
- Market Cap ₹ 2,989 Cr.
- Current Price ₹ 525
- High / Low ₹ 668 / 401
- Stock P/E 22.2
- Book Value ₹ 101
- Dividend Yield 0.87 %
- ROCE 28.7 %
- ROE 25.7 %
- Face Value ₹ 10.0
Pros
- Company has reduced debt.
- Company is expected to give good quarter
- Company has delivered good profit growth of 97.8% CAGR over last 5 years
Cons
* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| 993 | 1,062 | 1,500 | 1,695 | 1,770 | 1,792 | 2,239 | |
| 938 | 1,007 | 1,430 | 1,594 | 1,642 | 1,626 | 2,026 | |
| Operating Profit | 55 | 55 | 70 | 101 | 128 | 166 | 213 |
| OPM % | 6% | 5% | 5% | 6% | 7% | 9% | 10% |
| 10 | 3 | 3 | 20 | 17 | 16 | 20 | |
| Interest | 18 | 18 | 16 | 20 | 22 | 22 | 19 |
| Depreciation | 32 | 33 | 34 | 38 | 41 | 43 | 44 |
| Profit before tax | 15 | 7 | 24 | 63 | 82 | 116 | 169 |
| Tax % | 10% | 32% | 28% | 26% | 26% | 26% | 24% |
| 13 | 4 | 17 | 47 | 61 | 86 | 128 | |
| EPS in Rs | 2.37 | 0.78 | 3.00 | 8.23 | 10.66 | 15.16 | 22.51 |
| Dividend Payout % | 0% | 0% | 29% | 47% | 0% | 30% | 0% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 16% |
| 3 Years: | 10% |
| TTM: | 25% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 98% |
| 3 Years: | 43% |
| TTM: | 57% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| 1 Year: | 18% |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | 18% |
| 3 Years: | 21% |
| Last Year: | 26% |
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| Equity Capital | 57 | 57 | 57 | 57 | 57 | 57 | 57 |
| Reserves | 222 | 226 | 243 | 289 | 328 | 415 | 519 |
| 231 | 152 | 178 | 188 | 214 | 189 | 142 | |
| 352 | 448 | 509 | 512 | 458 | 452 | 555 | |
| Total Liabilities | 862 | 884 | 987 | 1,046 | 1,056 | 1,113 | 1,273 |
| 257 | 255 | 275 | 290 | 351 | 377 | 374 | |
| CWIP | 0 | 3 | 10 | 21 | 0 | 0 | 0 |
| Investments | 0 | 0 | 0 | 0 | 0 | 24 | 24 |
| 605 | 626 | 702 | 735 | 706 | 712 | 874 | |
| Total Assets | 862 | 884 | 987 | 1,046 | 1,056 | 1,113 | 1,273 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| 64 | 69 | 75 | 72 | 107 | 95 | 131 | |
| -46 | -34 | -59 | -64 | -84 | -76 | -31 | |
| 52 | -97 | 24 | -12 | -18 | -59 | -88 | |
| Net Cash Flow | 69 | -62 | 41 | -4 | 5 | -40 | 13 |
| Free Cash Flow | 16 | 33 | 17 | 565 | 22 | 43 | 99 |
| CFO/OP | 138% | 131% | 118% | 90% | 104% | 73% | 83% |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| Debtor Days | 71 | 92 | 61 | 64 | 49 | 58 | 60 |
| Inventory Days | 88 | 87 | 76 | 73 | 80 | 83 | 70 |
| Days Payable | 150 | 178 | 139 | 122 | 102 | 97 | 93 |
| Cash Conversion Cycle | 9 | 0 | -2 | 15 | 27 | 44 | 38 |
| Working Capital Days | -14 | 12 | -3 | 16 | 12 | 33 | 38 |
| ROCE % | 5% | 8% | 16% | 18% | 22% | 29% |
Insights
In beta| Mar 2020 | Mar 2021 | Mar 2022 | Dec 2023 | Mar 2025 | |
|---|---|---|---|---|---|
| Raw Material Localisation Level % |
|
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| Capacity Utilisation - Drivelines Plant % |
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| Market Share - Non-Captive Agriculture Tractor 4WD Axles (>40HP) % |
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| Market Share - Non-Captive Construction Vehicle Transmission % |
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| Axle Production Volume Units |
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| Capacity Utilisation - Gears Plant % |
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| Gears Production Volume Million Units |
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| Revenue Contribution - Agriculture Segment % |
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| Revenue Contribution - Construction Segment % |
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| Transmission Systems Production Volume Units |
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Extracted by Screener AI
Documents
Announcements
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Announcement under Regulation 30 (LODR)-Earnings Call Transcript
2d - Carraro India Limited has informed about transcript of earnings conference call held on Wednesday, 27th May, 2026
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Compliances-Reg.24(A)-Annual Secretarial Compliance
29 May - Carraro India filed FY26 secretarial compliance report; BSE fine of INR 9,440 for delayed shareholding pattern filing.
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Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Outcome
27 May - Audio recording of 27 May 2026 earnings call for Q4 and FY26 audited results available on website.
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Announcement under Regulation 30 (LODR)-Newspaper Publication
27 May - Carraro India Limited has informed about copy of newspaper publication of Audited Financial Results (both standalone and consolidated) for the quarter and financial ended on …
- Announcement under Regulation 30 (LODR)-Investor Presentation 26 May
Concalls
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Jun 2026Transcript PPT REC
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Feb 2026Transcript PPT
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Feb 2026TranscriptAI SummaryPPT
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Nov 2025Transcript PPT REC
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Aug 2025Transcript PPT
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Jun 2025Transcript PPT
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Feb 2025Transcript PPT
Business Profile[1]
Carraro India Limited (CIL) is a part of the Italy-headquartered Carraro Group (90+ years legacy) and operates as an independent Tier-1 supplier of axles, transmission systems, gears, and driveline solutions for off-highway vehicles. The company primarily caters to agricultural equipment and construction equipment OEMs.