Synopsis:
Carraro India Limited has secured a ₹17.50 crore engineering services contract from Montra Electric to develop and industrialise E-Transaxles for electric-powered agricultural tractors, marking a significant milestone in its expansion into electric mobility solutions.
This company, which manufactures axles and transmission systems for agricultural tractors and construction vehicles is now in the spotlight after securing an order worth Rs. 17.5 cr.
With market capitalization of Rs. 2,860 cr, the shares of Carraro India Limited are currently trading down at Rs. 503.30 per share, from its previous close of Rs. 506.45 per share.
Fresh order
On 14th October 2025, Carraro India Limited announced that it has secured an engineering services contract from TI Clean Mobility Private Ltd – Montra Electric for the development and industrialisation of E-Transaxles for electric-powered agricultural tractors. The agreement, executed under a Product Industrialization and Supply framework, is valued at ₹17.50 crore and is expected to be completed by March 2027.
The contract focuses on detailed feasibility studies and the industrialisation of the E-Transaxle, positioning Carraro as a key technology supplier for the Indian tractor industry. Carraro emphasized that none of its promoters or group companies have any interest in Montra Electric, and the contract does not qualify as a related-party transaction.
The company issued an interim press release highlighting this strategic milestone, with Dr. Balaji Gopalan, Managing Director, stating that the contract underscores Carraro’s commitment to innovation, efficiency, and sustainability in the agricultural tractor segment.
About the company
Carraro India Limited established in 1997, is technology driven integrated supplier that develops complex engineering products and solutions for original equipment manufacturer (“OEM”) customers. The Company is an independent Tier-I solution provider for axles, transmission systems, gears and other related components with in-house product design manufacturing capabilities which support the full value chain of services.
The company’s sales rose from ₹441 crore in Q4 FY25 to ₹489 crore in Q1 FY26. Operating profit increased to ₹47 crore from ₹44 crore, while net profit grew from ₹23 crore to ₹29 crore over the same period.
Written by Manideep Appana
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