Greaves Cotton Q2 Revenue Rises 44% To Rs 1,176 Cr, EBITDA Up 43%

The company’s electric mobility business Greaves Electric Mobility more than doubled its revenue, while the core businesses recorded 24 per cent growth during the quarter

Greaves Cotton reported a 44 per cent year-on-year increase in consolidated revenue to Rs 1,176 crore in the second quarter of financial year 2026-27 (Q2 FY27), driven by growth across its core and investee businesses.

Consolidated earnings before interest, taxes, depreciation and amortisation (EBITDA) rose 43 per cent to Rs 73 crore, compared with Rs 51 crore in the corresponding quarter last year.

However, the company reported a consolidated loss before tax (PBT) of Rs 16 crore, against a business PBT of Rs 44 crore, after accounting for exceptional and one-off items of Rs 60 crore during the quarter.

For the first half of FY27, consolidated revenue increased 38 per cent to Rs 2,150 crore, while EBITDA grew 20 per cent to Rs 130 crore.

Greaves Cotton’s core businesses, spanning energy solutions, mobility solutions and industrial solutions, recorded 24 per cent revenue growth in Q2 FY27. Growth in the energy solutions segment was supported by demand for diesel generator sets, with revenue increasing 36 per cent during the quarter.

The mobility solutions business grew 23 per cent year on year. Its automotive engines segment strengthened its portfolio with the launch of the G470 diesel engine, while the engineered components business reported 30 per cent growth, supported by domestic and export demand.

The company also secured export orders, including from Tata Motors Indonesia.

Greaves Electric Mobility Revenue More Than Doubles

Greaves Electric Mobility Limited (GEML) reported consolidated revenue of Rs 410 crore in Q2 FY27, up 106 per cent from Rs 199 crore in the year-ago period. Its EBITDA losses reduced by half year on year.

Ampere electric two-wheeler registrations through the VAHAN portal grew 114 per cent during the quarter, while the electric three-wheeler business recorded 74 per cent growth. GEML reported a 4.8 per cent market share in the electric two-wheeler segment during H1 FY27.

The company expanded its distribution network to more than 600 touchpoints, with dealer count increasing 31 per cent year on year.

New Products And EV Financing

During the quarter, Greaves introduced the Ampere Nexus EX+ and Magnus G-Max electric two-wheelers, alongside new products for its core businesses, including a 750 horsepower firefighting engine.

Greaves Finance Limited reported a 65 per cent year-on-year increase in assets under management to Rs 630 crore. It also launched an electric three-wheeler leasing product and raised Rs 110 crore in debt to support growth.