CARRARO / Q1-FY26 / claim-ledger

Audit the questions that mattered.

Carraro India · Analyst questions, management answers, and the quality of the response where the ledger is available.

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PositiveQ1-FY26 · 2025-08-07Back to quarter ↗

Questions audited

11

Answered directly

64%

Numeric claims

3

Consistency

mixed

Question ledger

What was answered, and how?

Shiram · Research desk

direct

Contribution of 4WD to numbers and market size

the market the pie of the four-wheel drive tractor in the domestic market is increasing... last year... 20 to 22%... this year... 23 to 25%... Karo India's 20 25% of our turnover is now... in the four-wheel drive segment.

Shiram · Research desk

direct

Market size including captive and non-captive

the tractor domestic market last year was almost 950 50,000 tractors... this year... should cross 1 million... 240,000 to 260,000 tractors should be converted into the four-wheel drive

Shiram · Research desk

declined

Ballpark value of 4WD market

Value is because it's very very difficult because we are talking about a this market which is between 20 horsepower or 15 horsepower up to 75 80 horsepower. Putting a value would be very very unjustified

Prrenav Dhi · Arao Asset Management

partial

Reasons for gross margin volatility and outlook

volatility was probably seen in Q3 of last year... variation in the range of one to two points... no specific reasoning other than a variation of the mix of sales... structural improvement... will be able to appreciate it when you look at the full year results.

Prrenav Dhi · Arao Asset Management

direct

Strategic importance of India unit within group

Karo India is one of the largest plants... center of excellence for agriculture transmission... contributing close to about 20 to 25% of the global revenue... IPS transferred... royalty has become zero.

Prrenav Dhi · Arao Asset Management

direct

Growth levers beyond FY26 and capacity alignment

target... touching 315 million euro by 2029... roughly 3,300 cr to 3,400 cr... driven by projects... protos... 1% enhancement in EBITDA year on year for next two to three years.

Sonel Gupta · HSBC Mutual Fund

direct

Seasonality impact on Q1 agri revenue decline

agree was actually increasing by five%... on the domestic market... construction equipment we are flat... pure domestic business is actually growing... partially offset by cooling down on indirect export front.

Sonel Gupta · HSBC Mutual Fund

direct

Non-captive share in 4WD tractor segment

in the total market it should be around 35% should be the 35 to 40% would be non-captive from 41 horsepower to 40 41 horsepower and above.

Sonel Gupta · HSBC Mutual Fund

evasive

Magnitude of high horsepower transmission orders

we haven't actually bifurcated exactly between higher horsepower versus the other products... not talking about gigantic numbers... products which can help us to improve our overall profitability.

Mahesh Bendre · LIC mutual fund

partial

Export outlook for next year

we should be more or less even though dropping market we should be stable or slightly higher in the export side in the next three to four quarters... net effect will be we will have higher exports.

Mahesh Bendre · LIC mutual fund

evasive

Feasibility of double-digit growth in FY27

it's very very difficult to predict... many variables... as Dr. Bali said as a next three to four years we have a project in hand which will take us to the growth