Carraro India Limited IPO

Incorporated in 1997, Carraro India Ltd is engaging in manufacturing components ranging from the smallest gear to complete tractor manufacturing.

The company designs, manufactures, and sells transmission systems (axles, transmissions, and drives) primarily for agricultural and construction equipment for off-highway vehicles. It also offers a wide range of gears for various sectors, including automotive, trucks agricultural, and construction vehicles.

The company owns and operates two manufacturing plants in Pune, Maharashtra, India. The driveline manufacturing plant occupies a plot area of approximately 84,000 square meters, while the gear manufacturing plant covers an area of approximately 78,000 square meters.

The driveline plant has technologies including casting, machining, assembly, prototyping, testing, and painting. The gears plant features machining and heat treatment technologies such as carburizing, induction, hardening, and nitriding.

Products:

  • Agricultural tractors: They manufacture axles and transmission systems for agricultural tractors which include special requirements on technical specifications, use cases, and mechanical and structural design.
  • Construction vehicles: They manufacture gears and transmission systems for backhoe loaders, compact wheel loaders, telehandlers, cranes, forklifts, aerial working platforms, etc.
  • Others: They manufacture a diverse range of products beyond their core offerings of axles and transmissions for agricultural and construction equipment, which include additional products such as gears, shafts, and ring gears for industrial and automotive vehicles.

The company has developed expertise in the agricultural tractor and construction vehicle industry in India and has established a network of 220 suppliers across eight states in India, along with 58 suppliers internationally.

As of September 30, 2024, the company’s local quality and after-sales team consisted of 87 full-time employees and 53 contractual temporary employees.

Competitive Strengths:

  • Tier 1 suppliers of transmission systems and a key supplier of axles in India’s agricultural tractor and construction vehicle industries with competitive moats for mission-critical and complex driveline components.
  • Customer-centric offering of customized solutions to a longstanding OEM customer base
  • Longstanding relationships with marquee local and international supplier base
  • Strong, in-house R&D capabilities with proprietary IP rights to facilitate innovation of future-ready products
  • Technologically advanced manufacturing plants with large production capacities and in-house gear production capabilities

Carraro India Limited Financial Information (Restated Consolidated)

Carraro India Limited’s revenue increased by 4% and profit after tax (PAT) rose by 29% between the financial year ending with March 31, 2024 and March 31, 2023.

Period Ended30 Sep 202431 Mar 202431 Mar 202331 Mar 2022
Assets1,093.411,072.891,072.391,012.44
Revenue922.741,806.551,733.31,520.05
Profit After Tax49.7362.5648.4622.43
Net Worth419.44369.82337.38292.49
Total Borrowing195.78212.55188.33178.14
Amount in ₹ Crore

Key Performance Indicator

The market capitalization of Carraro India IPO is Rs 4002.35 Cr.

KPI as of Sun, Mar 31, 2024.

KPIValues
ROE17.69%
ROCE19.35%
Debt/Equity0.58
RoNW16.92%
PAT Margin3.50

 

Objects of the Issue (Carraro India IPO Objectives)

The Company will not receive any proceeds from the Offer and all the Offer Proceeds will be received by the Promoter Selling Shareholder after deduction of Offer related expenses and relevant taxes thereon, to be borne by the Promoter Selling Shareholder.

Carraro India IPO Details

IPO DateDecember 20, 2024 to December 24, 2024
Listing Date[.]
Face Value₹10 per share
Price Band₹668 to ₹704 per share
Lot Size21 Shares
Total Issue Size1,77,55,680 shares
(aggregating up to ₹1,250.00 Cr)
Offer for Sale1,77,55,680 shares of ₹10
(aggregating up to ₹1,250.00 Cr)
Issue TypeBook Built Issue IPO
Listing AtBSE, NSE
Share Holding Pre Issue5,68,51,538 shares
Share Holding Post Issue5,68,51,538 shares

Carraro India IPO Promoter Holding

Tomaso Carraro, Enrico Carraro, Carraro S.p.A and Carraro International S.E are the company's promoters..

Share Holding Pre Issue100%
Share Holding Post Issue68.77%

SHARIAH SCREENING for - Carraro India Limited IPO

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BUSINESS SCREEN

FINANCIAL RATIOS

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