Minerva Capital Research Solutions

Carraro India

NSE: CARRAROBSE: 544320
Compare with peers
₹ 496.00▼ 6.2 (−1.23%)28 Oct, 03:29 pm IST
Market cap
₹ 2,675 Cr.
P/E
20.4x
P/B
4.87x
52-week range
416 – 667.55
ROE
26%
ROCE
29%
Dividend yield
1.4%
Debt / equity
0.27
Sector
Auto Components
Industry
Auto Components & Equipments
Listed on
NSE, BSE

About

Carraro India Limited is an India-based engineering components company, which is a technology driven integrated supplier that develops complex engineering products and solutions for its original equipment manufacturer (OEM) customers. The Company is an independent tier 11 solution provider of axles, transmission systems and gears for the agricultural tractor and construction vehicle industries in India. It supports the full value chain of services as a solution provider for axles, transmission systems, gears and other related components with in-house product design manufacturing capabilities. It primarily manufactures axles and transmission systems for agricultural tractors and construction vehicles, such as backhoe loaders, soil compactors, cranes, self-loading concrete mixers and small motor graders. The Company's products are mission critical for its customers, as its products constitute important components of its customers' final products.

Quick check

The five things to look at first. Open one for more.

Compared with its industry

Auto Components & Equipments: 155 companies →

Carraro India against the typical company in its industry. The rank is out of the companies that report each figure; green means the better quarter of the pack, red the worse quarter.

  • Valuation (P/E)20.4 against a typical 27.4: cheaper than most peers (1st = cheapest).58th of 153
  • Sales growth+10.4% against a typical +20.7% from a year earlier.112th of 142
  • Profit growth+6.9% against a typical +15.3% from a year earlier.79th of 127
  • Share price, 3 months−6.4% against a typical −4.4%.81st of 142
  • Size₹ 2,674.9 Cr. market value against a typical ₹ 728 Cr. (1st = largest).42nd of 138

Credit ratings

Every rating action on file, newest first, including reaffirmations. Open a row for the agency's reasoning. All credit rating updates

Adequate safety

Rated A+ by India Ratings
A+
DefaultRiskyModerateSafeVery safe
  • No warnings from the agency.
AgencyCurrent ratingOutlookAs of
India RatingsIND A+; IND A1+Positive13 Jul 2026
Credit rating actions
RatingDetails
13 Jul 2026
Rating action
IND A+—India Ratings₹ 371.62 Cr.

Board meetings

Results dates and other board meetings. Full calendar

Details
6 Nov 2026UpcomingFinancial ResultsTo consider and approve the unaudited financial results for the quarter and half year ended September 30, 2026
6 Aug 2026Financial ResultsTo consider and approve the unaudited financial results (both standalone and consolidated), for the quarter ended on 30th June, 2026 ( financial results )
26 May 2026Financial Results/DividendTo consider and approve the audited financial results for the financial year ended 31st March, 2026 and recommendation of final dividend, if any for the financial year ended 31st March, 2026.
11 Feb 2026Financial ResultsTo consider and approve the unaudited financial results (both standalone and consolidated), for the quarter ending on 31st December, 2025 ( financial results ).
14 Nov 2025Financial ResultsTo consider and approve the unaudited financial results, both standalone and consolidated, for the quarter and six-month period ending on September 30, 2025
5 Aug 2025Other business mattersTo consider and approve unaudited financial results, both standalone and consolidated, for the quarter ending 30th June, 2025 and closure of trading window.
27 May 2025Financial ResultsTo consider and approve audited financial results (both standalone and consolidated), for the quarter and financial year ended 31st March, 2025.

Share price

1Y change +1.28%
Volume (shares)Price (₹)
Close price

Financials

Consolidated figures in ₹ crore.

Quarterly results
₹ Cr.Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales431389470437445441489582565603540
Expenses393352421395414397443531511541498
Operating Profit3737494231444751546242
OPM %9%10%10%10%7%10%10%9%10%10%8%
Other Income52454477−2814
Interest66575555454
Depreciation1110101111111111111111
Profit before tax2624372919313841375441
Tax %25%26%26%25%26%26%24%25%24%24%25%
Net Profit1918272214232931284131
EPS in Rs3.393.094.813.82.494.065.015.384.97.225.39

Growth and returns

Compounded yearly rates over each period.

Compounded Sales Growth
10 Years
—
5 Years
16%
3 Years
10%
TTM
26%
Compounded Profit Growth
10 Years
—
5 Years
98%
3 Years
43%
TTM
56%
Stock Price CAGR
10 Years
—
5 Years
—
3 Years
—
TTM
—
Return on Equity
10 Years
—
5 Years
18%
3 Years
21%
TTM
—

Shareholding

Latest: Jun 2026.

Promoters
68.77%
0 pts in a year
FIIs
2.91%
−0.78 pts in a year
DIIs
16.1%
−0.52 pts in a year
Public
12.22%
+1.29 pts in a year

P/E and EPS over time

Daily P/E and trailing 12-month EPS. EPS updates with each result.

P/E 20.4xEPS (12 months) ₹ 24.55Median P/E 28.1x
P/E (times)EPS (₹)

Peers

Listed companies in the same business.

Peer comparison
Carraro India₹ 496.00₹ 2,675 Cr.20.4x4.9x26%—
Samvardhana Motherson International₹ 151.00₹ 1,59,367 Cr.35.1x3.7x10.2%3.2%
Cummins India₹ 4,338.90₹ 1,20,274 Cr.62.3x17.8x29.5%19.5%
Bosch₹ 44,045.85₹ 1,29,918 Cr.51.3x8.1x19.4%13.8%
UNO Minda₹ 1,052.00₹ 60,749 Cr.54.8x9.8x19.1%6.5%
Sona Blw Precision Forgings₹ 752.80₹ 46,984 Cr.64.6x7.3x11.2%14.1%

Management

Davide Grossi
Whole Time Director, Chief Financial Officer
Sudhendra Sharad Mannikar
Chief Operating Officer, Whole Time Director
Mohith Kumar Khandelwal
Compliance Officer, Company Secretary
Balaji Gopalan
Managing Director, Executive Director

Prices are delayed and for information only. Nothing on this page is investment advice.