About Carraro India Limited

Carraro India Limited is a global leader in driveline systems, designing and manufacturing axles, transmission systems, and gears for off-highway vehicles. The company, which is a subsidiary of the Italy-based Carraro Group, was incorporated on October 12, 1995. Its equity shares were listed on NSE and BSE on December 30, 2024, following a successful Initial Public Offering. The company’s manufacturing facilities and registered office are located in Ranjangaon, Pune, Maharashtra.

The company’s product portfolio is extensive, including axles and transmission systems for agricultural tractors and construction vehicles, as well as gears, shafts, and ring gears for industrial, automotive, and material handling applications. It has a strong reputation as a Tier-I supplier to major Original Equipment Manufacturers (OEMs). As of the latest report, the company has 1 subsidiary and is a part of the global Carraro Group network.

Carraro India Limited’s Business Segments

The company operates in a single business segment, which is the manufacturing and sale of automotive components. The key product segments and their contribution to consolidated revenue for the financial year 2024-25 were:

• Agricultural Vehicles: 47.4%
• Construction Equipment: 41.4%
• Others (Gears & tools etc.): 11.2%

From a geographical perspective, the consolidated revenue split for FY 2024-25 was:

• Domestic: 67%
• Export: 33%

Carraro India Limited’s Key Management

• Mr. Ettore Francesco Sequi – Chairman & Independent Director
• Mr. Tomaso Carraro – Vice Chairman & Non-Executive Director
• Dr. Balaji Gopalan – Managing Director
• Mr. Sudhendra Mannikar – Whole-time Director & Chief Operating Officer
• Mr. Davide Grossi – Whole-time Director & Chief Financial Officer
• Mr. Enrico Gomiero – Non-Executive Director
• Mr. Andrea Conchetto – Non-Executive Director
• Mrs. Uma Mandavgane – Independent Director
• Mr. Kishore Saletore – Independent Director
• Mr. Nakul Shivaji Patil – Company Secretary & Compliance Officer

Latest Updates on Carraro India Limited

• Public Listing: The company successfully completed its IPO and listed its equity shares on NSE and BSE on December 30, 2024.
• Capital and Borrowing: In a meeting held on August 20, 2024, the shareholders approved enhancing the company’s borrowing powers up to 1000 Crore.
• Product Innovation: The company successfully developed and piloted a high-horsepower (>100 HP) transmission for a global OEM. It also made a strategic entry into the tele-boom handler market by developing a new axle platform.
• Acquisition: The company acquired Carraro Technologies India Private Limited on June 28, 2024, making it a subsidiary. This acquisition strengthened the company’s in-house R&D capabilities.
• Leadership Changes: Mr. Davide Grossi was appointed as the Whole-time Director and Chief Financial Officer, effective August 9, 2024. Mr. Nakul Shivaji Patil was appointed as the Company Secretary and Compliance Officer, effective December 2, 2024.
• Financial Performance: For the fiscal year 2024-25, the company’s consolidated total income was 18,233.79 Million, with a profit after tax of 881.36 Million. The company also achieved an EBITDA margin of 10.23%.
• Dividend: The Board has recommended a final dividend of Rs. 4.55 per equity share for FY 2024-25.