EBITDA (including other income) stood at Rs 59.3 crore, registering the growth of 25% compared with Rs 47.5 crore posted in corresponding quarter last year. EBITDA margin fell to 10% in Q2 FY26 from 10.7% in Q2 FY25.

Revenue from agricultural equipment rose 16% YoY to Rs 254.1 crore, construction equipment jumped 57% YoY to Rs 266.5 crore and others segment increased 24% yoY to Rs 65.7 crore in Q2FY26.

In Q2 FY26, domestic sales stood at Rs 366.2 crore, up 19% YoY, while export sales climbed sharply 65% YoY to Rs 220.1 crore.

Balaji Gopalan, managing director, Carraro India, said, “The first half of FY26 has been both steady and encouraging for Carraro India. Revenue from operations grew 18% year-on-year, supported by healthy volume growth across both domestic and export markets.

Our domestic business grew by 11% year-on-year, driven by strong demand for 4WD axles in the agriculture segment and a stable performance in the construction equipment segment. Exports delivered an even stronger growth of 31% year-on-year, led primarily by Tele Boom Handler (“TBH”) axels. While indirect exports of agricultural drivelines remained soft, resilient domestic demand helped maintain our overall volume trajectory.

A noteworthy development during H1 was our engineering services agreement with Montra Electric for the industrialization and supply of e-transmissions for electric-powered agricultural tractors Revenue from our engineering services business stood at INR 50 million in Q2, compared to INR 17 million in the same period last year.

We developed six prototypes during the half year, three of which have already moved into production. We also dispatched two units of the new T100 EVO prototype to a large Indian tractor OEM.

On the manufacturing front, we progressed on our capacity-expansion roadmap. We installed two Sealed Quenched Furnace units at the gear plant. The 800-pallet MAZAK machining centre commissioned in June has boosted throughput and flexibility. Additionally, the arrival of the TLB test bench in July and the installation of a robotic washing machine in September further enhance our readiness to meet future demand. Further strengthening our after-sales network, we partnered with authorized service centers, one in North India and two in South India – a step towards boosting our presence in aftermarket/ spare parts segment.”

Carraro India is a technology-driven integrated supplier specializing in complex engineering products and solutions for OEMs. It designs, manufactures, and sells transmission systems (axles, transmissions, and drives) primarily for agricultural tractors and construction equipment.

The scrip jumped 2.03% to settle at Rs 541.55 on the BSE.