Carraro India
- P/E
- 21.53
Key Fundamentals
MicrocapAuto ComponentsConsumer DiscretionaryPrice-based figures as of · EPS basis: Standalone · TTM
- ROCE
- 28.20%
- Debt to Equity
- 0.27
- EPS (TTM)
- ₹22.89
- Book Value
- ₹99.31
- Market Cap
- —
- P/E (TTM)
- 21.53
- P/B
- 4.96
- ROE
- 25.60%
- Dividend Yield
- 1.39%
- EBITDA
- ₹248 Cr
- 52W High
- ₹667.55
- 52W Low
- ₹416.00
- Day Range
- ₹484.90 – ₹499.00
- Volume
- 90,701
Peer Comparison
Consumer Discretionary › Automobiles › Auto Components › Auto Components & Equipments
| ₹159.49 | 38.43 | ₹1,68,660 Cr | 3.98 | 0.37% | 11.20% | 13.40% | ₹1,31,135 Cr | ₹4,556 Cr | |
| ₹50,925.00 | 63.56 | ₹1,48,351 Cr | 10.11 | 0.54% | 14.60% | 21.50% | ₹21,088 Cr | ₹2,363 Cr | |
| ₹1,812.80 | 122.74 | ₹86,739 Cr | 7.65 | 0.48% | 12.00% | 12.60% | ₹17,543 Cr | ₹715 Cr | |
| ₹1,196.90 | 57.49 | ₹67,494 Cr | 10.13 | 0.24% | 19.30% | 19.60% | ₹20,725 Cr | ₹1,291 Cr | |
| ₹893.70 | 74.48 | ₹56,293 Cr | 8.70 | 0.38% | 11.70% | 15.10% | ₹4,514 Cr | ₹746 Cr | |
| ₹3,507.20 | 42.47 | ₹55,555 Cr | 8.92 | 0.99% | 20.80% | 27.90% | ₹10,192 Cr | ₹1,292 Cr | |
| ₹2,250.50 | 71.81 | ₹42,644 Cr | 5.62 | 0.16% | 9.95% | 17.10% | ₹23,754 Cr | ₹1,109 Cr | |
| Carraro (this company) | ₹492.80 | 21.53 | ₹2,795 Cr | 4.96 | 1.39% | 25.60% | 28.20% | ₹2,290 Cr | ₹131 Cr |
| Median 8 companies | ₹1,504.85 | 60.53 | ₹61,893 Cr | 8.18 | 0.43% | 13.30% | 18.35% | ₹19,134 Cr | ₹1,200 Cr |
Comparable companies in the same industry. Market cap, P/E and P/B use the latest price; other metrics are as reported in filings. A dash means the figure is not published for that company.
Tapetide Score
Data-driven rating, 0–100, as of . How it works →
Overall score
Data confidence 100/100
Category scores
- Quality
- 63
- Good
- Returns, margins, earnings quality 22% weight
- Valuation
- 57
- Good
- Cheap vs sector & own history 24% weight
- Growth
- 75
- Strong
- Sales & profit trajectory 9% weight
- Financial Health
- 65
- Good
- Solvency, leverage, coverage 9% weight
- Momentum
- 30
- Poor
- Trend strength, vol-adjusted 12% weight
- Ownership
- 17
- Poor
- FII/DII/promoter flows 24% weight
The Tapetide Score is data analysis, not investment advice. Tapetide is not a SEBI-registered research analyst or investment adviser.
Key Insights
Strengths
2- Company has delivered good profit growth of 97.6% CAGR over last 5 years
- Company has been maintaining a healthy dividend payout of 20.0%
No weaknesses listed
Technical Indicators
| Group | Signal | Bearish | Neutral | Bullish |
|---|---|---|---|---|
| Overall | Strong Bearish | 10 | 6 | 3 |
| Oscillators | Bearish | 2 | 6 | 1 |
| Moving Averages | Strong Bearish | 8 | 0 | 2 |
Oscillators
Bearish
Overall
Strong Bearish
Moving Averages
Strong Bearish
Key readings
- RSI (14)
- 46.18
- Neutral
- MACD (12,26,9)
- −9.44
- Bullish
- SMA (50)
- 519.19
- Bearish
- SMA (200)
- 527.65
- Bearish
As of
Growth Rate
From the financial statements below. 5Y, 3Y: compound annual growth to Mar 2026; 1Y: fiscal year to Mar 2026 against Mar 2025; TTM: four quarters to Jun 2026 against Jun 2025.
Revenue
| 5Y | +16.09% |
|---|---|
| 3Y | +9.72% |
| 1Y | +24.94% |
| TTM | +26.38% |
Net profit
| 5Y | +100.00% |
|---|---|
| 3Y | +39.65% |
| 1Y | +48.84% |
| TTM | +48.86% |
Operating cash flow
| 5Y | +13.68% |
|---|---|
| 3Y | +22.08% |
| 1Y | +37.89% |
| TTM | — |
TTM: Reported once a year, so there is no trailing-twelve-month figure.
Operating margin· change in pp
| 5Y | +4.33 pp |
|---|---|
| 3Y | +3.55 pp |
| 1Y | +0.25 pp |
| TTM | +0.08 pp |
Revenue by year
| Mar 2020 | ₹993 Cr |
|---|---|
| Mar 2021 | ₹1,062 Cr |
| Mar 2022 | ₹1,500 Cr |
| Mar 2023 | ₹1,695 Cr |
| Mar 2024 | ₹1,770 Cr |
| Mar 2025 | ₹1,792 Cr |
| Mar 2026 | ₹2,239 Cr |
Net profit by year
| Mar 2020 | ₹13.00 Cr |
|---|---|
| Mar 2021 | ₹4.00 Cr |
| Mar 2022 | ₹17.00 Cr |
| Mar 2023 | ₹47.00 Cr |
| Mar 2024 | ₹61.00 Cr |
| Mar 2025 | ₹86.00 Cr |
| Mar 2026 | ₹128 Cr |
AI Analysis — Bull vs Bear
Carraro India Ltd is a ₹3,109 Cr market-cap auto-components company that reported FY26 revenue of ₹2,255 Cr (25% YoY growth) and PAT of ₹130.6 Cr (48% YoY growth), trading at a PE of 24.1x with a debt-to-equity ratio of 0.27 and ROE of 26%.
- Strong profit growth: 5-year compounded profit CAGR of 98% and TTM profit growth of 57% demonstrate sustained earnings momentum
- Healthy return on equity at 26% (last year) and 21% over 3 years, indicating efficient capital deployment
- Revenue scaled from ₹1,713 Cr in FY23 to ₹2,255 Cr in FY26, a 10% 3-year sales CAGR accelerating to 25% TTM growth
- Operating profit margin expanded from 6.04% in FY23 to 9.59% in FY26, showing improving operational efficiency
- Low debt-to-equity ratio of 0.27 with the company actively reducing debt, providing financial flexibility
- Consistent dividend payout of ~20-29% over recent years with current yield of 0.82%, signalling cash generation confidence
- EPS grew from ₹8.52 in FY23 to ₹22.96 in FY26, nearly tripling in three years
- Market cap of ₹3,109 Cr on FY26 PAT of ₹130.6 Cr implies a PE of 24.1x, leaving limited room for execution misses
- Operating margin of 9.59% remains thin for a manufacturing business, vulnerable to raw material cost inflation
- Interest expense of ₹19.5 Cr in FY26 on a relatively small PAT base means even modest rate increases can compress earnings
- Heavy dependence on the agricultural and off-highway vehicle segment exposes revenue to cyclical farm-economy downturns
- Limited 10-year historical data availability (sales and profit CAGR not reported) makes long-term track record assessment difficult
- Parent Carraro S.p.A holds majority stake, limiting free float and potentially constraining liquidity for investors
- Current liabilities rose from ₹454 Cr in FY25 to ₹524 Cr in FY26, a 15% increase that warrants working capital monitoring
This is AI-generated analysis, not financial advice. Do your own due diligence.
AI News Digest
TL;DR: A quiet period for Carraro India with no major positive catalysts. The resignation of the Purchase & Supply Chain head is a mild operational risk that bears watching for procurement disruptions. No bullish developments surfaced in recent news. The outlook is neutral pending Q1FY26 results and clarity on leadership replacement.
- Purchase Head resigns Jun 19
Vijay Raman resigned as Director of Purchase & Supply Chain Management effective June 19, 2026, to pursue external opportunities. Loss of a key supply chain leader could disrupt procurement continuity.
- Trading window closed for Q1FY26 Jun 23
Carraro India shut its trading window from July 1, 2026, until 48 hours after Q1FY26 results are announced. Standard regulatory compliance ahead of quarterly earnings.
Quarterly Results
₹ Cr| Particulars | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 431 | 389 | 470 | 437 | 445 | 441 | 489 | 582 | 565 | 603 | 540 |
| Expenses | 393 | 352 | 421 | 395 | 414 | 397 | 443 | 531 | 511 | 541 | 498 |
| Operating Profit | 37 | 37 | 49 | 42 | 31 | 44 | 47 | 51 | 54 | 62 | 42 |
| OPM % | 9% | 10% | 10% | 10% | 7% | 10% | 10% | 9% | 10% | 10% | 8% |
| Other Income | 5 | 2 | 4 | 5 | 4 | 4 | 7 | 7 | −2 | 8 | 14 |
| Interest | 6 | 6 | 5 | 7 | 5 | 5 | 5 | 5 | 4 | 5 | 4 |
| Depreciation | 11 | 10 | 10 | 11 | 11 | 11 | 11 | 11 | 11 | 11 | 11 |
| PBT | 26 | 24 | 37 | 29 | 19 | 31 | 38 | 41 | 37 | 54 | 41 |
| Tax % | 25% | 26% | 26% | 25% | 26% | 26% | 24% | 25% | 24% | 24% | 25% |
| Net Profit | 19 | 18 | 27 | 22 | 14 | 23 | 29 | 31 | 28 | 41 | 31 |
| EPS (₹) | 3.39 | 3.09 | 4.81 | 3.8 | 2.49 | 4.06 | 5.01 | 5.38 | 4.9 | 7.22 | 5.39 |
Profit & Loss
₹ Cr| Particulars | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM |
|---|---|---|---|---|---|---|---|---|
| Sales | 993 | 1,062 | 1,500 | 1,695 | 1,770 | 1,792 | 2,239 | 2,290 |
| Expenses | 938 | 1,007 | 1,430 | 1,594 | 1,642 | 1,626 | 2,026 | 2,081 |
| Operating Profit | 55 | 55 | 70 | 101 | 128 | 166 | 213 | 209 |
| OPM % | 6% | 5% | 4.7% | 6% | 7% | 9% | 10% | 9% |
| Other Income | 10 | 3 | 3 | 20 | 17 | 16 | 20 | 27 |
| Interest | 18 | 18 | 16 | 20 | 22 | 22 | 19 | 19 |
| Depreciation | 32 | 33 | 34 | 38 | 41 | 43 | 44 | 44 |
| PBT | 15 | 7 | 24 | 63 | 82 | 116 | 169 | 173 |
| Tax % | 10% | 32% | 28% | 26% | 26% | 26% | 24% | — |
| Net Profit | 13 | 4 | 17 | 47 | 61 | 86 | 128 | 130 |
| EPS (₹) | 2.37 | 0.78 | 3 | 8.23 | 10.66 | 15.16 | 22.51 | 22.89 |
| Div. Payout % | 0% | 0% | 29% | 47% | 0% | 30% | 30% | — |
Balance Sheet
₹ Cr| Particulars | 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 |
| Borrowings | 231 | 152 | 178 | 188 | 214 | 189 | 155 |
| Other Liabilities | 352 | 448 | 509 | 512 | 458 | 452 | 542 |
| Total Liabilities | 862 | 884 | 987 | 1,046 | 1,056 | 1,113 | 1,273 |
| Fixed Assets | 257 | 255 | 275 | 290 | 351 | 377 | 374 |
| CWIP | 0 | 3 | 10 | 21 | 0 | 0 | 0 |
| Investments | 0 | 0 | 0 | 0 | 0 | 24 | 24 |
| Other Assets | 605 | 626 | 702 | 735 | 706 | 712 | 874 |
| Total Assets | 862 | 884 | 987 | 1,046 | 1,056 | 1,113 | 1,273 |
Cash Flow
₹ Cr| Particulars | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|
| Operating | 64 | 69 | 75 | 72 | 107 | 95 | 131 |
| Investing | −46 | −34 | −59 | −64 | −84 | −76 | −24 |
| Financing | 52 | −97 | 24 | −12 | −18 | −59 | −88 |
| Net Cash Flow | 69 | −62 | 41 | −4 | 5 | −40 | 20 |
| Free Cash Flow | 16 | 33 | 17 | 565 | 22 | 43 | 99 |
| CFO/EBITDA | 138 | 131 | 118 | 90 | 104 | 73 | 83 |
Ratios
| Particulars | 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% | 28% |
Insights
BetaAI-extracted from concalls & annual reports · figures as reported, with sources
Log in to view Carraro insights
62 extracted metrics across FY20–FY27.
Documents
- Q1 FY27 concall · Aug 2026Transcript PPT Recording
- Q4 FY26 concall · Jun 2026Transcript PPT Recording
- Concall · Feb 2026PPT
- Q3 FY26 concall · Feb 2026Transcript PPT
- 6 Aug 2026
- 26 May 2026
- 11 Feb 2026
- 15 Apr 2025
- 17 Oct 2022
- 3 Aug 2021
- 18 Jun 2020
- 29 Mar 2019
- General announcements 3 Nov 2026
- General announcements 16 Oct 2026
- General announcements 7 Oct 2026
Frequently Asked Questions about Carraro India
What does Carraro India Ltd do?
Where is Carraro India Ltd (CARRARO) listed?
Which sector does Carraro India Ltd belong to?
What is the PE ratio of Carraro India Ltd?
What is the 52-week high and low of Carraro India Ltd?
Does Carraro India Ltd pay dividends?
What is the Return on Equity (ROE) of Carraro India Ltd?
Company Information
Incorporated in 1997, Carraro India Ltd manufactures axles and transmission systems for agricultural tractors and construction vehicles
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