CARRARO / Q4-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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PositiveQ4-FY26 · 2026-05-15Back to quarter ↗

Questions audited

Answered directly

65%

Numeric claims

Consistency

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Question ledger

What was answered, and how?

Ragu Nandan NL · Noama Research

partial

Exports outlook and revenue from major global OEM for PBH and BH in FY26 and FY27.

When we talk about the export market... the guidance remains same level... on the TBH we mentioned flat in the next 2 to 3 years... maybe by 29 we will have that 30 million revenue from the PBH business...

Ragu Nandan NL · Noama Research

direct

Reason for raw material cost increase in Q4 and pass-through lag.

The major driver of that increment of the material percentage on total sales is actually the adverse mix that we have faced during the quarter... usually as majority of our agreements with customer foresee an adjustment over a period of 3 months.

Ragu Nandan NL · Noama Research

evasive

Growth outlook for FY27 and margin expansion range.

We in normal condition... reinforces our earlier guidance of 8 to 12%... but in current situation it is going to be a speculation... 8 to 12 can become probably 4 to 8 but these are all speculation.

Sonel Gupta · HSBC Asset Management India

evasive

Margin improvement trajectory and ability to achieve 100 bps annual improvement.

When it comes to questions like the EBITDA guidance in a situation like this... I feel a little uncomfortable to give any number... we reach 10.8 we will move upward... whether we reach 11.5 11.7 11.2 that is again dependent on the revenue...

Sonel Gupta · HSBC Asset Management India

direct

Size of domestic four-wheel drive tractor market and outsourcing share.

This year we have closed almost by 24% as a four-wheel drive market above 40 HP... it is 60-65% is outsource and 30-35% is with OEMs today.

Ashok Sha · Aklavia Invesco Family Office

direct

Incentives for four-wheel drive adoption and growth outlook.

The government indirectly has given incentives... GST reduction... the differential between the cost of a two-wheel drive and a four-wheel drive has now almost vanished... we expect that it will continue.

Ragu Nandan NL · Noama Research

direct

FY27 capex plan and range.

We confirmed that that amount more on 130 than 140 but we will be in that range as of now everything is confirmed.

Ragu Nandan NL · Noama Research

direct

Breakdown of other income: export incentives portion.

Out of the 285 rightly 83 were a provision that we reversed. So out of the 200 which are remaining more or less 75% is export incentives. So roughly 150.

Ragu Nandan NL · Noama Research

partial

Export geography mix.

Europe remains our main market... Turkey has become more relevant... Latin America is another 10%... US 9 to 10%... Europe represent 50% or less... China another 8 to 10%.

Mustafa Arif · Nine Reverse Capital

evasive

Contribution to largest domestic OEM's new transmission platform and shift to outsourcing.

It's very difficult to comment on the ambiguous question because you have referred an unknown OEM... from Caro point of view we can say that today we produce up to 150 HP range of transmissions...

Mustafa Arif · Nine Reverse Capital

direct

Clarification on gross margin decline: product mix within agri or between agri and CE.

It is between our range of products our range of axles and mostly if we refer to agriculture range... we had to compromise a little bit on cost efficiency to maintain continuity of supply.

Shirram · Individual Investor

declined

Absolute sales figure of four-wheel drive for Q4 and full year.

It's very difficult in terms of informing because we have a mix of the turnover... we don't give the breakup as a guidance... our revenue has also grown by those 30%...