Q1 2027 Carraro India Ltd Earnings Call Transcript
Key Points
- Revenue from operations grew 10% year-on-year to INR 5,447 million, driven by strong domestic demand.
- Domestic revenue increased approximately 26% year-on-year, with robust growth in agriculture and construction equipment segments.
- Backhoe loader driveline sales to OEMs grew 18% year-on-year, outperforming the broader market's 14% growth.
- Commenced serial production for a Turkish customer in the higher horsepower transmission business, with development for an Indian customer on track for FY28.
- Engineering services business gained momentum, with the Montra Electric project progressing and new customer discussions underway.
- Export revenue declined approximately 14% year-on-year due to geopolitical disruptions and supply chain challenges.
- EBITDA margin fell to 10.4%, impacted by higher energy and raw material costs and labor availability constraints.
- Raw material localization dropped to 74% due to temporary imports to address supplier shortages, though expected to normalize.
- Global markets face headwinds from geopolitical uncertainties, particularly in West Asia, affecting demand and logistics.
- Turkish market volatility and subdued European demand pose risks to export growth, with potential delays in cost pass-through affecting margins.
Ladies and gentlemen, thank you for your patience. The conference of Carraro India Limited will begin shortly. Please stay connected and do not disconnect. Ladies and gentlemen, thank you for your patience. The conference of Carraro India Limited will begin shortly. Please stay connected and do not disconnect. Thank you.
Ladies and gentlemen, good day and welcome to the Carraro India Limited Q1 FY27 earnings conference call. As a reminder, all participant lines will remain in the listen-only mode, and there will be an opportunity for you to ask questions after the presentation concludes. Should you need assistance during the conference call, please signal the operator by pressing star then zero on your touchtone telephone. Please note that this conference is being recorded.
Before we begin, a brief disclaimer. This conference call may contain forward-looking statements about the company, which are based on the beliefs, opinions, and expectations of the company as of date of this call. These statements are not a guarantee of future performance of the company, and it may involve risks and
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