Investor Presentation

06th November, 2026 The Manager, The Manager, BSE Limited, National Stock Exchange of India Limited, Phiroze Jeejeebhoy Towers, Exchange Plaza, Bandra-Kurla Complex, Dalal Street, Bandra (E), Mumbai - 400 001 Mumbai - 400 051 BSE Scrip Code: 544320 NSE Symbol: CARRARO Sub.: Investor presentation on the unaudited financial results for the quarter and half year ended 30th September, 2026. Ref.: Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“Listing Regulations”). Dear Sir/Madam, Pursuant to above referred Listing Regulations, please find enclosed, a copy of the Investor Presentation on the unaudited financial results for the quarter and half year ended 30th September, 2026. This Investor Presentation may also be accessed on the website of the Company at https://www.carraroindia.com/investors/investor-information/investor-presentation. You are requested to take this intimation on record. Thanking you, Yours faithfully, For Carraro India Limited Mr. Mohith Kumar Khandelwal Company Secretary and Compliance Officer Membership No.: F11243 Encl.: As above. Carraro India Limited Investor Presentation November 2026 Safe harbour This presentation and the accompanying slides (the “Presentation”), which have been prepared by Carraro India Limited (the “Company”), have been prepared solely for information purposes and do not constitute any offer, recommendation or invitation to purchase or subscribe for any securities, and shall not form the basis or be relied on in connection with any contract or binding commitment whatsoever. No offering of securities of the Company will be made except by means ofa statutory offeringdocument containing detailed informationabout the Company. This Presentation has been prepared by the Company based on information and data which the Company considers reliable, but the Company makes no representation or warranty, express or implied, whatsoever, and no reliance shall be placed on, the truth, accuracy, completeness, fairness and reasonableness of the contents of this Presentation. This Presentation may not be all inclusive and may not contain forward-looking the information that you may consider material. Any liability in respect of the contents of,or any omissionfrom,this Presentation is expressly excluded. This presentation contains certain forward-looking statements concerning the Company’s future business prospects and business profitability, which are subject to a number of risks and uncertainties and the actual results could materially differ from those in such forward-looking statements. The risks and uncertainties relating to these statements include, but are not limited to, risks and uncertainties regarding fluctuations in earnings, our ability to manage growth, competition (both domestic and international), economic growth in India and abroad, ability to attract and retain highly skilled professionals, time and cost over runs on contracts, our ability to manage government policies and actions regulations, interest and other fiscal costs generally prevailing in the economy. The Company does not undertake to make any announcement in case any of these forward-looking statements become materially incorrect in future or update any forward-lookingstatements made from time to time by or on behalf of the Company. H1 & Q2 FY27 Highlights Management Commentary Commenting on the performance Dr. Balaji Gopalan, Managing Director said: “Carraro India delivered healthy growthduringH1FY27, demonstratingthe resilienceofour business andsustainedmomentum despite globalmarket uncertainties.Revenue from operations grew by 15% year-on-year during H1FY27, with Q2 recording healthy growth of 19%. Domestic revenues increased by 30% year-on-year, primarily driven by strong demandforagricultural4WDaxlesandencouragingperformanceinconstructionequipment.Whileinternationalmarketscontinuedtofacegeopoliticalandsupply-chainchallenges, ourdomesticbusinessremainedakeygrowthdriver,reinforcingthestrengthofourbalancedbusinessmodelinmitigatingfluctuationsacrosssegmentsandgeographies. Profitability improved in absolute terms, with EBITDA and PAT growing by 8% and 9%, respectively, during the first half. Margins continued to reflect the impact of higher raw- material, energy, transportation and conversion costs. We are working towards recovering these additional costs from customers, although the process involves a time lag. Our continuedfocusoncostoptimization,productivityenhancementsandoperationalefficienciesisexpectedtosupportgradualmarginimprovement. The domestic agricultural segment remains an important growth opportunity for us. The transition towards 4WD tractors is progressing as expected, with demand continuing to outpacetheoveralltractorindustry.Webelievethisstructuralshiftofferssustainedgrowthopportunities,andourongoingcapacityexpansionisalignedwithanticipateddemand. In construction equipment, our Tele-boom Handler axle programmes continue to gain traction, with programmes already in series production and several additional projects undergoing prototype and field validation. The domestic BHL segment has demonstrated encouraging demand trends, with further traction emerging during the festive season, whileBHLdrivelineexportsthroughIndianOEMscontinuetoperformwell. Wearealsomakingprogressinourhigher-horsepowertransmissionportfoliodespitethecurrentdownturnintheglobalmarkets,whileprogrammesfordomesticOEMscontinueto advance through field validation. Our R&D efforts remain focused on translating engineering capabilities into business opportunities. During H1FY27, we developed seven prototypes,withonesuccessfullyprogressingtoproduction. On the engineering services front, our engagement with Montra Electric continues to progress through prototype development and field validation. We are also working on an additionalassignmentsecuredduringtheyear,alongsideongoingdiscussionsforadvancedtechnologysolutions.Inthegearssegment,thesecuredbull-gearnominationwithalarge globalOEMandongoingcustomerdevelopmentprogrammesareexpectedtosupportbusinessimprovementoverthecomingperiods. Operationally, we continue to strengthen our manufacturing capabilities through targeted investments in capacity, technology and process improvements. Progress on the new paint-shopfacility,higherlocalizationlevelsandcontinuedexpansionofouraftermarketservicenetworkwillfurthersupportourlong-termgrowthplans.Wearealsopleasedwith ourrecognitionamongIndia'sMostAdmiredExportEnterprises2026byETNow,reflectingourcommitmenttomanufacturingexcellenceandglobalcompetitiveness. Lookingahead,weremainpositiveabouttheunderlyingdemandenvironmentandopportunitiesacrossourkeyproductsegments.Ourrevenueperformanceremainsencouraging andbroadlyalignedwithourgrowthoutlookforFY27.Whilemarginrecoveryisexpectedtobemoregradual,ourfocusremainsonimprovingprofitabilityinabsolutetermsthrough highervolumes,progressivecostrecoveryandoperatingefficiencies.Webelieveourexpandingproductportfolio,customerrelationshipsandongoingcapacityinvestmentsprovide astrongfoundationforsustainablegrowthoverthemediumterm.” Key Highlights Key highlights for quarter & half year ended September 2026 Tele-boomHandler(TBH)-ConstructionEquipment: DomesticAG4WDaxle&Gearsbusinessupdate: • The ramp-up of the new TBH axle range for a major international OEM continued as planned, • Domestic 4WD axle demand continues to outperform the overall tractor industry, with alongwithotherexportprogrammes. sustained growth momentum expected. Carraro India is ramping up capacity to cater to future • The domestic TBH market grew to approximately 800 machines in H1FY27, presenting further demand. growth opportunities. Against this backdrop, new TBH driveline projects with Indian OEM • The gears business showed positive traction during H1FY27, although performance is expected customers in the domestic market are expected to strengthen the Company’s presence in this to remain flat for the full year. Ongoing business development [Showing first 8,000 characters — download PDF for full document]