Carraro India Ltd.
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ABOUT
AI Sector View
AI GENERATEDAutomobile and Auto Components
Domestic auto demand remains strong across categories, with total vehicles registered up 27% YoY (2026-07), passenger vehicle sales up 14% YoY (2026-06), 2-wheelers up 23% YoY (2026-06), and tractor sales up 18% YoY (2026-07). Core demand is reinforced by vehicle sales of 395199 units (Jul/26) and car registrations of 457810 units (Jul/26), outweighing FPI outflows of INR -11826 crore over 3 months to 2026-08-31. The stance stays positive because fundamentals are stronger than positioning.
PROS
- Company has a healthy return on capital (ROCE) of 23.7%
- Company has a good return on equity (ROE) track record: 3 Years ROE 21.5%
- Company has consistently been profitable over the last 5 years
- Strong cash generation - operating cash flow backs reported profits (CFO/PAT 1.15x)
- Company comfortably covers its interest (9.9x coverage)
- Company generates healthy free cash flow
CONS
- Promoter holding has decreased over last 2 years: -31.2pp
* The pros and cons are machine generated based on quantitative rules.
Peer comparison
| Name | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| MOTHERSON | 164.00 | 39.52 | 173092.86 | 0.37 | 1075.66 | 77.48 | 35243.77 | 17.70 | 13.63 | 8.86 |
| BOSCHLTD | 48602.60 | 60.66 | 143358.71 | 0.56 | 706.10 | -36.74 | 5841.90 | 22.00 | 25.60 | 14.08 |
| UNOMINDA | 1223.50 | 58.77 | 70653.11 | 0.22 | 315.51 | 2.10 | 5556.85 | 23.79 | 20.74 | 11.14 |
| TIINDIA | 2650.00 | 84.58 | 51296.66 | 0.13 | 293.96 | -3.04 | 6215.33 | 20.20 | 27.33 | 8.81 |
| SONACOMS | 803.10 | 72.02 | 50123.75 | 0.42 | 178.51 | 46.67 | 1301.20 | 52.38 | 14.75 | 22.55 |
| ENDURANCE | 2716.60 | 39.40 | 38212.47 | 0.42 | 244.52 | 8.03 | 4314.89 | 30.01 | 18.33 | 12.42 |
| CRAFTSMAN | 11852.65 | 66.68 | 30999.93 | 0.09 | 150.55 | 116.31 | 2431.58 | 36.30 | 14.65 | 15.81 |
| ZFCVINDIA | 2528.05 | 57.63 | 28770.60 | 0.03 | 1044.78 | 753.75 | 10661.76 | 992.89 | 20.23 | 12.93 |
| SANSERA | 4107.40 | 73.56 | 25631.64 | 0.10 | 87.36 | 38.71 | 1021.26 | 33.27 | 14.29 | 19.18 |
| MSUMI | 36.32 | 38.39 | 24086.20 | 1.60 | 1453.20 | 915.51 | 34072.60 | 1273.43 | 43.72 | 7.58 |
| GABRIEL | 1340.50 | 79.82 | 23757.68 | 0.37 | 1081.26 | 925.35 | 14256.83 | 1055.00 | 26.37 | 11.71 |
| CARRARO | 553.10 | 23.67 | 3144.46 | 1.22 | 31.39 | 7.81 | 544.68 | 10.50 | 28.71 | 8.07 |
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
| Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 435 | 393 | 474 | 441 | 449 | 444 | 493 | 586 | 570 | 607 | 545 | |
| 397 | 355 | 424 | 398 | 416 | 399 | 445 | 534 | 514 | 543 | 517 | |
| Operating Profit | 38 | 38 | 50 | 43 | 32 | 45 | 48 | 52 | 55 | 63 | 28 |
| OPM % | 8.74% | 9.62% | 10.57% | 9.73% | 7.21% | 10.19% | 9.71% | 8.94% | 9.70% | 10.45% | 5.15% |
| 5 | 3 | 4 | 5 | 4 | 4 | 7 | 7 | -2 | 8 | 14 | |
| Interest | 6 | 6 | 5 | 7 | 5 | 5 | 5 | 5 | 4 | 5 | 4 |
| Depreciation | 11 | 11 | 11 | 11 | 11 | 12 | 11 | 12 | 12 | 11 | 11 |
| Profit before Tax | 26 | 25 | 37 | 29 | 20 | 32 | 38 | 43 | 37 | 55 | 42 |
| Tax % | 24.91% | 25.82% | 25.89% | 25.40% | 25.50% | 25.99% | 24.25% | 25.44% | 23.97% | 24.05% | 25.31% |
| Net Profit | 0 | 0 | 0 | 22 | 15 | 24 | 29 | 32 | 28 | 42 | 31 |
| 3.41 | 3.20 | 4.88 | 3.86 | 2.58 | 4.17 | 5.12 | 5.58 | 4.94 | 7.33 | 5.52 |
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|
| 1,498 | 1,713 | 1,789 | 1,808 | 2,255 | 2,307 | |
| 1,437 | 1,608 | 1,657 | 1,637 | 2,037 | 2,108 | |
| Operating Profit | 60 | 105 | 132 | 171 | 219 | 199 |
| OPM % | 4.03% | 6.11% | 7.40% | 9.44% | 9.71% | 8.63% |
| 23 | 20 | 18 | 16 | 19 | 26 | |
| Interest | 16 | 20 | 22 | 23 | 19 | 19 |
| Depreciation | 36 | 39 | 43 | 45 | 46 | 46 |
| Profit before Tax | 31 | 66 | 84 | 119 | 173 | 176 |
| Tax % | 27.03% | 26.12% | 25.85% | 25.73% | 24.42% | 24.67% |
| Net Profit | 22 | 48 | 63 | 88 | 131 | 133 |
| EPS | 3.94 | 8.52 | 11.00 | 15.50 | 22.96 | — |
| Dividend Payout % | 0.00% | 10.32% | 35.18% | 29.36% | 29.39% | — |
COMPOUNDED SALES GROWTH
- 10 Years:
- —
- 5 Years:
- —
- 3 Years:
- 10%
COMPOUNDED PROFIT GROWTH
- 10 Years:
- —
- 5 Years:
- —
- 3 Years:
- 39%
STOCK PRICE CAGR
- 10 Years:
- —
- 5 Years:
- —
- 3 Years:
- —
- 1 Year:
- 20%
RETURN ON EQUITY
- 10 Years:
- —
- 5 Years:
- 18%
- 3 Years:
- 22%
- Last Year:
- 26%
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|
| Equity Capital | 57 | 57 | 57 | 57 | 57 |
| 236 | 281 | 313 | 401 | 508 | |
| 181 | 191 | 173 | 145 | 120 | |
| Trade Payables | 429 | 428 | 365 | 350 | 420 |
| 271 | 294 | 371 | 389 | 441 | |
| Total Liabilities | 1,174 | 1,250 | 1,279 | 1,342 | 1,546 |
| 281 | 307 | 354 | 380 | 376 | |
| Capital Work in Progress | 10 | 9 | 0 | 0 | 0 |
| 237 | 255 | 286 | 299 | 317 | |
| 0 | 0 | 243 | 291 | 375 | |
| Cash & Bank | 104 | 105 | 104 | 68 | 90 |
| 542 | 574 | 291 | 304 | 388 | |
| Total Assets | 1,174 | 1,250 | 1,279 | 1,342 | 1,546 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|
| 105 | 100 | 112 | 76 | 135 | |
| Cash from Investing | -59 | -62 | -85 | -51 | -30 |
| Cash from Financing | 9 | -15 | -30 | -60 | -89 |
| 45 | 3 | -3 | -34 | 15 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|
Documents
Corporate disclosures, annual reports, credit ratings, and concall transcripts
2026-09-11 - Carraro India Limited has submitted the Exchange a copy Srutinizers report of Annual General Meeting held on September 10, 2026. Further, the company has informed the Exchange regarding voting results.
2026-09-10 - Carraro India Limited has informed the Exchange regarding Proceedings of the 29th Annual General Meeting held on September 10, 2026
2026-09-04 - Carraro India Limited has informed the Exchange about receipt of Order-in-original from the Office of the Commissioner of Customs.
2026-08-19 - Carraro India Limited has informed the Exchange about Copy of Newspaper Publications regarding Notice of the Twenty Ninth ( 29th) Annual General Meeting ( AGM ) of the Company.
2026-08-18 - Carraro India Limited has informed the Exchange regarding Notice of the 29th Annual General Meeting to be held on September 10, 2026 through VC/OAVM
2026-08-13 - Carraro India Limited has informed the Exchange about Schedule of meet
2026-08-12 - Carraro India Limited has informed the Exchange about transcript of the Earnings Conference Call held on Friday, 07th August, 2026 in respect of the Company s Unaudited Financial Results for the quarter ended 30th June, 2026.
2026-08-07 - Carraro India Limited has informed the Exchange about Link of audio recording of the Earnings Conference call with analysts / investors held today i.e. Friday, 07th August, 2026, at 8.30 am (IST), pertaining to Company s Unaudited Financial Results for the quarter ended 30th June, 2026
2026-08-07 - Carraro India Limited has informed the Exchange about Copy of Newspaper Publication of the of unaudited financial results for the quarter ended 30th June, 2026.
News
Recent coverage and analyst commentary for CARRARO
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Carraro India Ltd.
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