Greaves Cotton Reports 31% YoY Revenue Growth in Q1 FY27 at INR 974 Crore
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Company expands international operations, strengthens Greaves Electric Mobility and advances its GREAVES.NEXT strategy
Greaves Cotton Limited, one of India's diversified engineering companies, has announced its financial results for the quarter ended June 30, 2026, reporting growth across its businesses while continuing to implement its Greaves.Next strategy.
The company said its focus during the quarter included strengthening its core businesses, expanding internationally and making investments in businesses intended to support future growth.
Consolidated Revenue Rises to INR 974 Crore
Greaves Cotton reported the following financial performance for Q1 FY27:
Consolidated
- Revenue: INR 974 crore, up 31 percent YoY
- EBITDA: INR 56 crore
- Operating PBT: INR 27 crore
Standalone
- Revenue: INR 629 crore, up 16 percent YoY
- EBITDA: INR 71 crore
- Operating PBT: INR 67 crore
Parag Satpute, MD & Group CEO, Greaves Cotton Limited, said:
"We have begun FY27 on a strong note, delivering a solid performance on the back of disciplined execution across our businesses, while strengthening our strategic foundations under Greaves.Next. During the quarter, we expanded our international footprint with the establishment of a subsidiary in Dubai, UAE, enhanced our manufacturing capabilities through advanced automation, and continued to grow across our domestic and international businesses despite commodity price and supply chain pressures. We also reaffirmed our commitment to future-ready businesses through investments in Greaves Electric Mobility and Greaves Finance. Supported by a strong balance sheet, we are well positioned to drive organic growth, invest in our portfolio companies, and capitalise on emerging growth opportunities. Demand across segments remains encouraging and we remain focused on executing our strategy with discipline to build a stronger, more future-ready Greaves."
Energy Solutions Revenue Grows 21%
The Energy Solutions business recorded 21 percent YoY revenue growth during the quarter, supported by demand from infrastructure, manufacturing and industrial applications.
Domestic sales of the Medium Horsepower (MHP) genset portfolio increased 32 percent YoY. During the quarter, the company also commissioned a BESS pilot as part of its integrated solutions portfolio.
Mobility Solutions Records 18% Revenue Growth
The Mobility Solutions business reported 18 percent year-on-year revenue growth, supported by performance across its key segments.
Automotive engines recorded 36 percent YoY growth, while Engineered Components grew 14 percent YoY, supported by domestic demand and export activity.
Demand for Euro V+ compliant engines remained encouraging in export markets. The domestic Engineered Components business also secured new orders from major OEMs including Caterpillar UK and TAFE.
Industrial Solutions Maintains Demand Across Key Applications
The Industrial Solutions business continued to see demand across defence, marine and agriculture applications.
The business also strengthened its engagement with OEM customers across specialised industrial applications.
International Business Expands with Dubai Subsidiary
The international business contributed 13 percent to core business revenue during the quarter.
Greaves Cotton incorporated Greaves International Trading FZE in Dubai, UAE, establishing a regional hub intended to strengthen customer engagement and distribution capabilities across the Middle East and Africa.
Greaves Electric Mobility Expands Market Position
Greaves Electric Mobility continued to expand its market presence through network growth and portfolio enhancements.
In electric two-wheelers, VAHAN volumes more than doubled, increasing 101 percent year-on-year in Q1 FY27. Market share increased from 4.3 percent in FY26 to 5.6 percent in June '26.
In three-wheelers, L5 VAHAN volumes grew 39 percent year-on-year, while electric L5 volumes nearly doubled.
The company said its INR 530 Crore rights issue was fully subscribed, with the Board approving the allotment of equity shares to all eligible shareholders.
Greaves Cotton subscribed to its full entitlement of approximately INR 331 Crore, while its shareholding in GEML remained unchanged at 62.48 percent.
Greaves Finance Assets Under Management Cross INR 560 Crore
Greaves Finance continued its growth during the quarter, with Assets Under Management crossing INR 560 crore, compared with INR 521 crore in Mar'26.
The business also expanded its network by 12 locations during the quarter.
Greaves Cotton subscribed to a INR 50 crore rights issue to support the company's next phase of growth.