Greaves Cotton Limited, one of India’s leading diversified engineering companies, reported healthy financial results for the period ending September 30, 2024, reflecting a resilient business model, effective strategic initiatives, and ongoing commitment to growth.
In Q2 FY25, Greaves Cotton achieved a consolidated revenue of Rs. 705 crore, while standalone revenue saw a growth of 2%, reaching Rs. 468 crore. Excel contributed Rs. 61 crore to the quarterly revenue.
For the first half of FY25, consolidated revenue reached Rs. 1,345 crore, with standalone revenue at Rs. 912 crore—a 7% year-over-year increase. EBITDA for H1 FY25 stood at Rs. 109 crore, with Profit Before Tax (PBT) reaching Rs. 106 crore on a standalone basis.
Akhila Balachandar, Chief Financial Officer, Greaves Cotton Limited, says, “Our Q2 FY25 results underscore the robustness of our diversification strategy and the momentum we are building across our businesses. Our performance in Retail, Engineering, and Excel, alongside the promising growth in Electric Mobility, reflects our agile approach to meeting diverse market demands. Our fuel-agnostic strategy continues to expand our reach and adaptability, reinforcing our confidence in the path we’ve charted. This momentum reaffirms our commitment to delivering consistent value for our stakeholders.”
The Engineering and Retail segments recorded growth of 6% and 7% in H1 FY2025. The integration of Excel has bolstered the company’s Engineering business, widening, and deepening reach and capabilities. Greaves standalone and Excel’s combined revenues stood at Rs. 1,036 crore for H1 FY2025. The EBITDA of the businesses stood at Rs 144 crore for the six months ended September 30, 2024.
The Electric Mobility division also performed well, posting Rs. 175 crore in Q2 and Rs. 302 crore in H1, supported by new product launch and a focused path to profitability.