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Swing Capital

Carraro India Ltd

NSE: CARRARO BSE: 544320Infra

Incorporated in 1997, Carraro India Ltd manufactures axles and transmission systems for agricultural tractors and construction vehicles[1]

₹553
52W: ₹401 — ₹668
PE 27.1 · Book ₹88.7 · +523% vs book
Market Cap₹3,145 Cr
Stock P/E27.1Price to Earnings
ROCE21.8%Return on Capital
ROE20%Return on Equity
Div. Yield0.81%Face Value ₹10

Strengths

  • +Company has reduced debt.
  • +Company has delivered good profit growth of 45.2% CAGR over last 5 years

Shareholding Pattern

Promoters68.77%
FIIs3.01%
DIIs17.53%
Public10.68%
CategoryDec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Promoters68.77%68.77%68.77%68.77%68.77%68.77%
FIIs3.52%4.02%▲0.53.69%▼0.33.59%▼0.12.72%▼0.93.01%▲0.3
DIIs17.53%17.03%▼0.516.62%▼0.417.05%▲0.417.11%▲0.117.53%▲0.4
Public10.18%10.18%10.93%▲0.810.59%▼0.311.39%▲0.810.68%▼0.7

Financial Statements

MetricDec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Sales431389470437445441489582565
Expenses393352421395414397443531511
Operating Profit373749423144475154
OPM %9%10%10%10%7%10%10%9%10%
Net Profit191827221423293128
EPS ₹3.393.094.813.82.494.065.015.384.9

AI Insights

Revenue Trend

TTM revenue at ₹2,077Cr, up 15.9% YoY. OPM at 9%.

Debt Position

Borrowings at ₹170Cr. Debt-to-equity ratio: 0.38x. Healthy balance sheet.

Institutional Flow

DIIs: 17.53% (+0.00pp change). FIIs: 3.01% (-0.51pp change). Promoters hold 68.77%.

Margin & Efficiency

ROCE improving from 0% (Mar 2020) to 22% (Mar 2025). Working capital days: 33.

Valuation

PE 27.1x with 21.8% ROCE. Price is 523% above book value of ₹88.7. Dividend yield: 0.81%.

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