Carraro India Q3 PAT Jumps 91%; 9M Revenue Up 21%

Carraro India Limited reported total income of INR 16,698 million for the nine months ended December 31, 2025, registering a 21% year-on-year increase over INR 13,755 million in the corresponding period last year.

EBITDA (including other income) stood at INR 1,765 million, up 28% year-on-year, with margins improving to 10.6% from 10.0% in 9M FY25. Profit after tax rose 38% to INR 889 million compared to INR 644 million last year, with margins at 5.3% versus 4.7%. The PAT includes the impact of the New Labor Code amounting to INR 95 million.

For Q3 FY26, total income increased 27% to INR 5,768 million from INR 4,528 million in Q3 FY25. EBITDA rose sharply by 71% to INR 624 million, with margin expanding to 10.8% from 8.1%. PAT grew 91% to INR 281 million compared to INR 147 million in the year-ago quarter.

Agricultural equipment revenue in 9M FY26 stood at INR 7,408 million, up 13% year-on-year, while construction equipment revenue rose 30% to INR 7,224 million. Revenue from the ‘Others’ segment stood at INR 1,856 million, reflecting 21% growth. Domestic revenue increased 17% to INR 10,461 million, while export revenue grew 29% to INR 6,027 million.

During the period, ramp-up of Tele Boom Handler (TBH) axles for a major international OEM continued, and new TBH axle projects with a domestic customer remain on track. Sales of drivelines to CE Indian customers rose approximately 4% despite a 5% market decline, while domestic BHL driveline sales grew around 5% against a broader market contraction of approximately 12%.

Dr. Balaji Gopalan, Managing Director, Carraro India Limited, said,
“For nine months FY26, Carraro India delivered a strong and encouraging performance. Revenue from operations grew 21% YoY, supported by healthy momentum across both domestic and export markets. Domestic revenues increased 17% Year on Year, led by robust demand for 4WD axles in the agriculture segment, while exports grew 29% Year on Year.”