Carraro India Q2 Revenue Rises 19% to ₹705.8 Crore as Net Profit Increases 11%
PUNE, India, November 6, 2026, ZEX PR WIRE, Carraro India Limited reported a 19% year-over-year increase in consolidated total income for the September quarter, supported by stronger demand across its agricultural and construction equipment businesses. The company recorded total income of ₹705.8 crore in the second quarter of FY27, compared with ₹593.1 crore in the corresponding period of the previous financial year.
Consolidated profit after tax increased 11% to ₹35.1 crore from ₹31.7 crore. EBITDA, including other income, rose 10% to ₹65.2 crore, although the EBITDA margin declined to 9.2% from 10% a year earlier. The results were disclosed in the company’s November 6 press release submitted to the stock exchanges.
Agricultural and Construction Equipment Support Growth
Carraro India supplies axles, transmission systems, gears and related components to manufacturers of agricultural and construction equipment. Its quarterly operating performance reflected growth across both major equipment categories.
Revenue from the agricultural equipment segment increased 29% year over year to ₹330 crore. The construction equipment segment recorded 12% growth, reaching approximately ₹297.9 crore. Other business activities contributed ₹68.6 crore, representing an increase of 9%.
The company’s operating performance indicates that agricultural equipment was the stronger contributor to growth during the quarter. Demand in domestic markets and higher sales volumes can influence component manufacturers because their businesses are closely connected to equipment production and customer manufacturing schedules.
Domestic Business Expands While Exports Decline
Domestic revenue increased 33% to ₹485.9 crore, compared with ₹366.2 crore in the year-ago quarter. Export revenue, however, declined 4% to ₹210.6 crore from ₹220.1 crore.
The divergence highlights the importance of domestic demand in the latest quarterly performance. Although the company’s overall income increased, the reduction in export revenue suggests that international operations faced a less favourable comparison.
Investors will monitor whether domestic demand can continue supporting growth and whether export activity improves in subsequent quarters.
Margin Performance Remains Important
Although net profit and EBITDA increased, the EBITDA margin declined from 10% to 9.2%, while the profit margin fell from 5.3% to 5%.
This distinction is important because faster revenue growth does not automatically translate into equivalent improvements in operating profitability. Manufacturing companies must manage raw-material expenses, production costs, labour and other operating expenses to protect margins.
The company’s first-half FY27 results also showed total income of ₹1,264.4 crore, up 16% year over year. First-half profit after tax increased 9% to ₹66.5 crore, while EBITDA including other income grew 8% to ₹123.2 crore.
Engineering Projects and Future Capacity
Carraro India said its e-transmission engineering project with Montra Electric was progressing, with a prototype order received for field validation. It also reported ongoing development programmes for tele-boom handler axles and domestic agricultural equipment components.
The company is increasing capacity to address demand in its domestic four-wheel-drive axle and gears business. These projects could contribute to future activity, although their eventual financial impact will depend on customer programmes, production schedules and market demand.
