Financial Performance
Greaves Cotton Limited reported consolidated revenue of INR 974 crore for the quarter ended 30 June 2026, reflecting a 31 percent year‑on‑year increase. Standalone revenue reached INR 629 crore, up 16 percent YoY. Consolidated EBITDA was INR 56 crore and operating profit before tax (PBT) stood at INR 27 crore. On a standalone basis, EBITDA amounted to INR 71 crore and operating PBT was INR 67 crore.
Business Highlights
Energy Solutions delivered a 21 percent revenue rise, driven by demand in infrastructure, manufacturing and industrial applications, with domestic Medium Horsepower genset sales up 32 percent YoY and a battery‑energy‑storage‑system (BESS) pilot commissioned. Mobility Solutions posted an 18 percent revenue increase; automotive engines grew 36 percent YoY and engineered components rose 14 percent YoY, supported by domestic demand and steady export momentum, including Euro V+ compliant engine sales. The engineered‑components domestic unit secured new orders from Caterpillar UK and TAFE. Industrial Solutions saw continued demand across defence, marine and agriculture segments, contributing to a 13 percent share of total revenue from international operations.
International Expansion
The company incorporated Greaves International Trading FZE in Dubai, United Arab Emirates, establishing a regional hub to enhance customer engagement and distribution across the Middle East and Africa.
Electric Mobility
Greaves Electric Mobility reported that VAHAN two‑wheelers volumes more than doubled, climbing 101 percent YoY, and market share rose from 4.3 percent in FY26 to 5.6 percent in June 2026. In the three‑wheeler segment, L5 VAHAN volumes grew 39 percent YoY, with electric L5 volumes nearly doubling, indicating strong demand and deeper market penetration.
Capital Allocation and Shareholding
The company’s INR 530 crore rights issue was fully subscribed. Greaves Cotton subscribed to its full entitlement of approximately INR 331 crore, maintaining a 62.48 percent stake in Greaves Electric Mobility Ltd (GEML). Additionally, Greaves Cotton subscribed to a INR 50 crore rights issue of another entity to support its next growth phase. Greaves Finance’s assets under management (AUM) crossed INR 560 crore, up from INR 521 crore in March 2026, and the business expanded to 12 additional locations.
Outlook
Management, led by MD & Group CEO Parag Satpute, reaffirmed confidence in the Greaves.Next strategy, emphasizing disciplined capital allocation, portfolio diversification and technology investment. The company expects to continue leveraging its strong balance sheet to drive organic growth, invest in portfolio companies and capitalize on emerging opportunities while navigating an evolving macro‑economic environment.