Carraro India Limited has informed the Exchange regarding Notice of Postal Ballot
CARRARO · price
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Carraro India has issued a Postal Ballot notice seeking shareholder approval for a material related party transaction (RPT) with its Italian group entity Carraro Drive Tech Italia S.p.A. (CDTI) for FY 2026-27, with an aggregate limit of INR 10,129.49 million (about 56% of its annual consolidated turnover). The transactions mainly involve sale of goods like agricultural and construction equipment transmissions, axles and gears (INR 9,806.93 million), along with purchases, corporate service charges and warranty payments. Previous transactions with CDTI were INR 5,689.22 million in FY25 and INR 5,952.01 million in FY26 till Q3. E-voting runs from February 28 to March 29, 2026, with results to be announced by March 31, 2026. Promoter-director Mr. Tomaso Carraro and two other non-executive directors have an interest in CDTI and are excluded from the recommendation.
Since CDTI is Carraro India's parent group entity and these are recurring operational transactions (mostly contract manufacturing sales), the resolution is largely procedural and expected to pass. Approval provides the company with a continued revenue pipeline from its key group customer; however, the large value highlights significant promoter-group business dependence, which minority shareholders should note.