Carraro
Carraro (CARRARO) share price was ₹500.05 at the 28 Oct 2026 close; market capitalisation ₹2,843 Cr; P/E (TTM) 21.85; sector Automobiles. The share price rose 3.6% over the year to 28 Oct 2026 (adjusted for splits and bonuses). In the Jun 2026 quarter, revenue rose 10.4% year on year to ₹540.2 Cr and net profit rose 7.9% year on year to ₹31.4 Cr (compared with Jun 2025). Promoters held 68.77% of Carraro in Sep 2026, unchanged from Jun 2026. Its Tapetide Score is 49/100 (Average) as of 28 Oct 2026.
Key Fundamentals
MicrocapAuto ComponentsConsumer DiscretionaryPrice-based figures as of 28 Oct 2026, 15:31 IST · EPS basis: Standalone · TTM
Peer Comparison
Consumer Discretionary › Automobiles › Auto Components › Auto Components & Equipments
| ₹160.33 | 38.63 | 1,69,219 Cr | 4.00 | 0.38% | 9.36% | 11.82% | 1,30,935 Cr | 4,556 Cr | |
| ₹47,625.00 | 59.44 | 1,40,475 Cr | 9.46 | 0.59% | 18.66% | 24.28% | 21,880 Cr | 2,363 Cr | |
| ₹1,760.00 | 119.16 | 86,006 Cr | 7.43 | 0.48% | 11.40% | 15.70% | 17,749 Cr | 715 Cr | |
| ₹1,099.90 | 52.83 | 63,526 Cr | 9.31 | 0.24% | 17.69% | 20.72% | 21,003 Cr | 1,291 Cr | |
| ₹3,635.60 | 44.02 | 56,826 Cr | 9.24 | 0.95% | 19.02% | 25.68% | 11,315 Cr | 1,292 Cr | |
| ₹879.45 | 73.29 | 54,889 Cr | 8.55 | 0.40% | 10.26% | 13.26% | 5,430 Cr | 746 Cr | |
| ₹2,135.00 | 68.12 | 41,328 Cr | 5.33 | 0.17% | 7.86% | 12.81% | 23,518 Cr | 1,109 Cr | |
| Carraro (this company) | ₹500.05 | 21.85 | 2,843 Cr | 5.04 | 1.34% | 23.12% | 25.81% | 2,343 Cr | 131 Cr |
| Median 8 companies | ₹1,429.95 | 56.14 | 60,176 Cr | 7.99 | 0.44% | 14.55% | 18.21% | 19,376 Cr | 1,200 Cr |
Comparable companies in the same industry. Market cap, P/E and P/B use the live 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. How it works →
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Category scores
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%
Technical Indicators
Oscillators
Bearish
Overall
Bearish
Moving Averages
Bearish
Growth Rate
change over 1 year
change over 1 year
change over 1 year
change over 1 year Operating margin 8% · Jun 2026
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
- PE of 24.1x trades at a discount to the industry PE of ~37x, suggesting relative valuation comfort versus sector peers
- 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
- 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.
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.
Quarterly Results
| 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
| 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
| 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
| 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
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62 extracted metrics + investor summaries across FY13–FY27.
Documents
Frequently Asked Questions about Carraro
What does Carraro India Ltd do?
Where is Carraro India Ltd (CARRARO) listed?
Which sector does Carraro India Ltd belong to?
What is the market capitalisation of Carraro India Ltd?
What is the PE ratio of Carraro India Ltd?
What is the 52-week high and low of Carraro India Ltd?
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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[1]
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