Commercial Vehicles company Carraro India announced Q4FY25 & FY25 results Q4FY25 Financial Highlights: Total Income up by 13%, from Rs 3,963 million to Rs 4,479 million. EBITDA (incl. Other Income) up by 19%, from Rs 409 million to Rs 489 million. EBITDA Margin improved from 10.3% to 10.9%. PAT (Profit After Tax) up by 30%, from Rs 182 million to Rs 237 million. PAT Margin increased from 4.6% to 5.3%. FY25 Financial Highlights: Total Income stood at Rs 18,234 million; marginal increase of 1% on YoY basis EBITDA (incl. other income) stood at Rs 1,864 million; growth of 24% YoY basis with margins at 10.2% PAT stood at Rs 881 million; growth of 41% YoY basis with margins at 4.8% The Board of Directors have recommended a final dividend of Rs 4.55 (45.5%) per equity share of Face Value Rs 10 each, subject to the approval of ShareholdeRs Commenting on the results Balaji Gopalan, Managing Director, Carraro India said “We concluded FY25 on a positive note, having met our topline and EBITDA guidance. While total income remained flat year-over-year, EBITDA grew by 24% YoY, primarily driven by an improved product mix, increased localization, and effective cost control measures. On the EBITDA margin front, we exceeded our guidance of 10%+, with a year-over-year expansion of 192 basis points, reaching 10.2% by end of FY25. As expected, our domestic business (excluding indirect exports) continues to show strength, recording a noteworthy double digit YoY revenue increase, driven by sustained demand for locally sold products and increasing 4WD technology adoption. Overall revenue growth was achieved in spite of weak export markets. We expect continued growth in the domestic market, excluding the indirect exports segment. We also foresee growth in our export segment, driven by new business acquisition, despite the persistent uncertainty at global level. During the year, we added 6 new customers, including 2 in the last quarter. We also developed over 9 prototypes, underscoring our strong focus on technology-driven product development. Of these, 5 prototypes moved into production within the year. While revenue conversion from these efforts takes time, this is primarily part of our market seeding strategy. We have been honored with several recognitions from customers, including Mahindra & Mahindra, Caterpillar and Escorts Kubota, to name a few. Such prestigious recognitions are proud moments for us, as they not only elevate our brand’s reputation, but also reinforce our team’s unwavering commitment to delivering excellence to our customeRs We remain committed to long-term profitability, supported by continuous investment in innovation and technology. FY26 & Beyond…. Supported by encouraging signs in the domestic market—such as stronger-than-expected adoption of 4WD vehicles/tractor—we are confident in achieving our FY26 revenue growth target. On the export front, the market outlook remains uncertain for now, though we anticipate recovery to start in the second half of the year. Nevertheless, growth will be accelerated and achieved by the offtake of the newly acquired tele-boom handler business. Within the above scenario, we expect our topline to grow in the range of approximately 8% to 12%. We continue to collaborate closely with our existing customers, expanding our product offerings to meet evolving needs. Our engineering services business is witnessing a growing number of enquiries for higher horsepower and advanced technology configurations. Some of these are currently under active negotiation. We anticipate this business to contribute some revenue in FY26. Additionally, we are working proactively with several OEMs on driveline solutions to remain future-ready, while closely tracking emerging technologies. Our deep expertise in driveline systems enables us to respond swiftly to industry demands. By diversifying and localizing our supplier base, we aim to further optimize our cost structure and strengthen our margin profile. Supported by robust R&D; and manufacturing capabilities, we remain focused on achieving our medium-term goal of reaching mid-teen EBITDA margins.” Result PDF
Conference Call with Carraro India Management and Analysts on Q4FY25 & Full Year Performance and Outlook. Listen to the full earnings transcript.