Carraro India Limited , a prominent Tier-I solution provider for axles, transmission systems, and gears, has announced a significant milestone in its journey towards sustainable agricultural technology. The company has secured an engineering services contract worth Rs 17.50 crore from TI Clean Mobility Private Ltd - Montra Electric for the development of E-Transaxles for electric-powered agricultural tractors.

Contract Details

The agreement outlines the following key points:

Strategic Significance

Dr. Balaji Gopalan, Managing Director of Carraro India Limited, emphasized the strategic importance of this contract, stating, "This significant milestone marks a pivotal moment for our company as a technology product supplier for the Indian tractor industry. We are confident that this innovative technology will greatly enhance the capabilities of tractors, providing superior efficiency and sustainability."

About Carraro India Limited

Established in 1997, Carraro India Limited has positioned itself as a technology-driven integrated supplier developing complex engineering products for OEM customers. The company operates two manufacturing plants in Pune, specializing in:

1. Driveline plant: Featuring technologies for casting, machining, assembly, prototyping, testing, and painting.
2. Gears plant: Equipped with machining and heat treatment technologies such as carburizing, induction hardening, and nitriding.

Carraro India's product portfolio extends beyond its core offerings of axles and transmissions for agricultural and construction equipment, including gears, shafts, and ring gears for industrial and automotive vehicles.

Market Impact

This contract positions Carraro India as a key player in the evolving electric agricultural machinery sector. As the agricultural industry moves towards more sustainable and efficient solutions, Carraro's expertise in E-Transaxle technology could play a crucial role in shaping the future of electric-powered tractors in India and potentially global markets.

The development of E-Transaxles for electric tractors aligns with the growing trend of electrification in the automotive and agricultural sectors, potentially opening new avenues for growth and innovation for Carraro India Limited.

Conclusion

The Rs 17.50 crore contract marks a significant step for Carraro India in the electric agricultural machinery space. As the project progresses towards its 2027 completion date, industry observers will be keen to see how this development influences the broader adoption of electric technologies in the agricultural sector and Carraro's position in this evolving market.

Carraro India Limited , a prominent player in the Indian manufacturing sector, has successfully resolved a significant tax matter with the Goods and Services Tax (GST) authorities. The company recently received a closure report from the Assistant Commissioner, CGST Division VII Shirur, concluding proceedings in its favor.

Case Background

The case stemmed from a notice dated February 21, 2022, issued by the Office of the Superintendent, Central GST, Division VII (Shirur), Pune. The notice alleged a discrepancy of ₹196.60 million in input tax credit between the company's Form GSTR-2A records and its Form GSTR-3B filings for the period from April 2021 to December 2021.

Resolution and Closure

Carraro India Limited made satisfactory submissions to the GST authorities, addressing the concerns raised in the original notice. As a result, on October 13, 2025, at 5:32 PM, the company received a closure report from the Assistant Commissioner, CGST Division VII Shirur, Pune-I Commissionerate.

Key Details of the Closure

Implications for Carraro India

The favorable conclusion of this case represents a significant relief for Carraro India Limited. The closure report effectively grants the company complete relief from the alleged discrepancy in input tax credit. This resolution eliminates potential financial liabilities and regulatory complications that could have arisen from an adverse ruling.

Transparency and Compliance

In line with regulatory requirements, Carraro India Limited promptly disclosed this development to the stock exchanges. The company filed an intimation under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, demonstrating its commitment to transparency and corporate governance.

This favorable outcome not only resolves a pending regulatory issue but also reinforces Carraro India's standing as a compliant and responsible corporate entity in the Indian market.