Carraro India Limited (CARRARO) — Announcement | 12 August 2026

Carraro India reported Q1 FY27 revenue of INR5,447 million, up 10% YoY, driven by 26% domestic growth and 15% growth in agricultural vehicle sales, while export revenue fell 14% due to Turkey and Latin America volatility. PAT rose 8% to INR314 million with a 5.6% margin, supported by strong four-wheel drive demand and engineering services. Management reaffirmed a FY30 revenue target of INR3,500-4,000 crores, citing infrastructure tailwinds and localization progress at 74%, though supply chain disruptions temporarily impacted localization rates. EBITDA margin stood at 10.4%, with a target of 10.5%-11% for FY27 as inflation pressures are expected to ease by year-end.