Financial Performance

Consolidated Results

  • Q2 FY27 Revenue: ₹1,176 crore (44% YoY growth)
  • H1 FY27 Revenue: ₹2,150 crore (38% YoY growth)
  • Q2 FY27 EBITDA: ₹73 crore (43% YoY growth from ₹51 crore in Q2 FY26)
  • H1 FY27 EBITDA: ₹130 crore (compared to ₹108 crore in corresponding period last year)
  • Q2 FY27 Business PBT: ₹44 crore
  • H1 FY27 Business PBT: ₹71 crore
  • Q2 FY27 Exceptional and one-off items: ₹60 crore
  • Q2 FY27 PBT: ₹-16 crore
  • H1 FY27 PBT: ₹11 crore

Standalone Results

  • Q2 FY27 Revenue: ₹682 crore (24% YoY growth)
  • H1 FY27 Revenue: ₹1,312 crore (20% YoY growth)
  • Q2 FY27 EBITDA: ₹69 crore
  • H1 FY27 EBITDA: ₹140 crore
  • Q2 FY27 PBT: ₹56 crore
  • H1 FY27 PBT: ₹123 crore

Business Segment Performance

Core Businesses Performance

  • Q2 FY27 Growth: 24% YoY
  • H1 FY27 Growth: 20% YoY
  • International Business contribution: 13% of Core Business revenue during H1FY27

Energy Solutions

  • Q2 FY27 Revenue Growth: 36% YoY
  • H1 FY27 Revenue Growth: 28% YoY
  • MHP genset portfolio (160-750 kVA) growth: 35% YoY in H1 FY27
  • Aftermarket business growth: 15% YoY
  • Expanded export footprint with deliveries to Middle East market

Mobility Solutions

  • Q2 FY27 Growth: 23% YoY
  • H1 FY27 Growth: 22% YoY
  • Engineered Components business growth: 30% YoY
  • Secured new export orders including from Tata Motors Indonesia
  • Launched G470 diesel engine for 3W applications

Investee Companies Performance

Greaves Electric Mobility Limited (GEML)
  • Q2 FY27 Consolidated Revenue: ₹410 crore (106% YoY growth from ₹199 crore in Q2 FY26)
  • H1 FY27 Consolidated Revenue: ₹680 crore (103% YoY growth)
  • Ampere electric two-wheeler VAHAN registrations: 114% YoY growth in Q2 FY27
  • Market share: 4.8% during H1 FY27
  • L5 three-wheeler VAHAN registration growth: 74% YoY
  • EBITDA losses reduced by half year-on-year
  • Dealer count: 31% YoY increase
  • Dealer throughput: 39% improvement
  • Distribution network: 600+ touchpoints
  • Developed patented rare-earth-free motor architecture
Greaves Finance Limited (GFL)
  • AUM: ₹630 crore (65% YoY growth)
  • Debt raised: ₹110 crore during the quarter
  • Launched E3W L5 leasing product

Product Launches

  • Electric Mobility: Ampere Nexus EX+ and Magnus G-Max
  • Core Businesses: 750 HP firefighting engine, 470 cc diesel engine for 3W applications

Strategic Initiatives

  • Advanced GREAVES.NEXT strategy focusing on Energy Solutions, Mobility Solutions and Industrial Solutions
  • Focus on international market expansion and technology-enabled service offerings
  • Emphasis on engineering-led differentiation and value addition
  • Priority on margin recovery, operational excellence and disciplined capital allocation
  • Expansion of distribution network and customer reach

Management Commentary

Parag Satpute, MD & Group CEO, stated that the performance reflects disciplined execution across diversified portfolio with strong growth across Core Businesses and progress on GREAVES.NEXT priorities. The company is focused on driving operational excellence through pricing discipline, value engineering, productivity enhancements and cost optimization while investing in strategic growth opportunities. Priorities for second half include sustaining growth, strengthening operating performance, expanding international footprint and building higher-value customer solutions.

Outlook

The company remains focused on building higher-value customer solutions across Energy Solutions, Mobility Solutions and Industrial Solutions while continuing to invest in technology, exports, engineering capabilities and customer-centric innovation. Emphasis on increasing engineering-led differentiation and value addition across portfolio to improve competitiveness and create sustainable long-term growth opportunities.