Carraro India Limited, a leading Tier-I supplier of axles, transmission systems, gears and related components for agricultural and construction equipment, has reported healthy growth for the first quarter ended June 30, 2026. The company’s performance was driven by strong domestic demand, continued progress in new product programmes and investments to expand manufacturing capacity.
For the quarter, total income increased 12 percent year-on-year to ₹5,587 million. EBITDA, including other income, rose 6 percent to ₹579 million, while profit after tax (PAT) grew 8 percent to ₹314 million. EBITDA margin stood at 10.4 percent, while PAT margin was 5.6 percent.
Revenue from operations reached ₹5,447 million, registering a 10 percent increase over the same period last year. Domestic business remained the key growth driver, with revenue rising 26 percent to ₹3,795 million. Export revenue declined 14 percent to ₹1,652 million, reflecting challenging global market conditions and geopolitical uncertainties. The agricultural equipment business recorded revenue of ₹2,559 million, up 15 percent, while the construction equipment segment grew 4 percent to ₹2,264 million. Revenue from other businesses increased 17 percent to ₹624 million.
Commenting on the results, Dr Balaji Gopalan, Managing Director of Carraro India Limited, said the company delivered a resilient performance despite global challenges. He noted that strong domestic demand, particularly in the agricultural equipment segment, supported revenue growth, while disciplined cost management helped improve profitability despite higher raw material and energy costs.
During the quarter, Carraro continued to strengthen its position in the construction equipment market. Production of the new range of tele-boom handler axles for a leading international original equipment manufacturer gathered momentum, while new projects with domestic customers progressed as planned. The company’s driveline business for backhoe loaders also outperformed the overall market, supported by higher demand from Indian OEMs.
The engineering services business continued to expand with growing customer interest in advanced transmission technologies. The company’s e-transmission engineering project with Montra Electric moved ahead with prototype validation, while new engineering assignments secured during and after the quarter are expected to support future revenue growth.
Carraro also reported steady progress in its higher-horsepower agricultural transmission programmes. Production for a customer in Turkey commenced during the quarter, while a similar programme for an Indian customer remains on track for commercial production in FY28.
To support future growth, the company continued investing in manufacturing infrastructure. Construction of a new paint shop began during the quarter, while new production lines and advanced machinery were commissioned to increase capacity for portal axles and differential components.
Established in 1997, Carraro India Limited is an integrated engineering solutions provider with in-house design, development, and manufacturing capabilities that support the entire value chain. The company is part of the global Carraro Group, known for designing and producing transmission systems—axles, drives, and gear assemblies—primarily for agricultural, construction, and off-highway vehicles. Carraro’s products play a vital role in OEM equipment, serving critical applications across tractors, backhoe loaders, compact wheel loaders, telehandlers, cranes, forklifts, and aerial work platforms.
The company’s operations include two advanced manufacturing plants in Pune equipped with robust R&D infrastructure and proprietary technologies. Its driveline facility handles casting, machining, assembly, prototyping, testing, and painting, while the gears plant specializes in precision machining and heat treatment processes such as carburizing, induction hardening, and nitriding. Supported by a strong network of 220 domestic suppliers across eight Indian states and 58 international partners, Carraro India continues to strengthen its leadership in delivering world-class engineering and manufacturing solutions for the mobility and off-highway equipment sectors.
