Carraro India Limited — Investor Meet, 02-06-2025: Analysts/Institutional Investor Meet/Con. Call Updates

Carraro India reported flat FY25 revenue at INR1,823 Cr, with a 24% EBITDA rise to INR186 Cr and margin expansion to 10.2%. PAT jumped 41% to INR88 Cr. Q4 revenue grew 13% YoY to INR448 Cr, with 10.9% EBITDA margin and PAT of INR24 Cr. Agriculture and construction contributed 88% of revenue, with exports at 33%.

Management highlighted growing four-wheel drive tractor penetration (~20%) set to double in 2-3 years, and Teleboom handler exports ramping to INR300 Cr by FY28. Localization improving margins, targeting 86-88% in 3 years. Capex was INR51.5 Cr, with INR70 Cr planned for FY26 focusing on new products and expansion. Margins are expected to rise ~1% annually. The firm targets INR3,200 Cr revenue in the medium term, supported by cost control and OEM tie-ups.