Commercial Vehicles company Carraro India announced Q3FY25 results Total Income: Rs 4,528 million compared to Rs 4,397 million during Q3FY24, change 3%. EBITDA: Rs 365 million compared to Rs 429 million during Q3FY24, change -15%. EBITDA margin: 8.1% for Q3FY25. PAT: Rs 148 million compared to Rs 194 million during Q3FY24, change -24%. PAT margin: 3.3% for Q3FY25. Balaji Gopalan, Managing Director, Carraro India, said: “In the first nine months of FY25, total income declined by ~3% YoY, mainly due to lower export offtake. While our domestic business remains strong, driven by robust demand for locally sold products, overall performance has been affected by weak exports (incl. indirect exports) through Indian OEMs. Domestic revenues (excl. indirect exports) grew strongly, while total domestic revenue saw a marginal increase of 1%. We anticipate sustained growth in the domestic market with an exception of the indirect exports business. The recovery in overall export business is expected to take a little longer. On the profitability front, EBITDA for 9MFY25 stood at Rs 1,375 million, compared to Rs 1,091 million, a growth of 26% y-o-y basis, with margins expanding by 227 bps to 10.0%. This improvement was driven by operational efficiencies, strong emphasis on technology-led products and significantly lower royalties paid to the parent company. PAT for the period stood at Rs 645 million compared to Rs 444 million, a growth of 45% YoY basis, with margins expanding by 155 bps to 4.7%. We remain committed to long-term profitability, supported by continued investments in innovation and technology. Turning to Q3FY25, total income for the quarter stood at Rs 4,528 million compared to Rs 4,397 million in the same period last year. EBITDA for the quarter stood at Rs 365 million, compared to Rs 429 million in the same period last year. EBITDA margin was lower for this quarter, mainly due to reduced turnover discounts from suppliers, and the evolving nature of our technologies. PAT for the quarter stood at Rs 148 million, compared to Rs 194 million in the same period last year FY25 & Beyond…. Despite ongoing challenges, we remain confident in achieving strong domestic business growth in the current and upcoming financial years. We have initiated a supply of pilot batch of axles for teleboom handlers, expanding our product portfolio, and have added two new customers, further strengthening our clientele. Additionally, we are collaborating with two electric tractor OEMs on drivelines to stay future-ready while actively monitoring emerging technologies. Our deep expertise in driveline requirements allows us to swiftly meet industry demands. By diversifying and localizing our supplier base, we aim to enhance our cost structure and margin profile. With strong R&D; and manufacturing capabilities, we are focused on achieving our medium-term target of mid-teen EBITDA margin.” Result PDF