Home-grown auto and parts manufacturer Greaves Cotton’s PAT stood at INR 14 crore in Q4FY21 as against INR1 crore in the same period previous year. The company has reported continued growth momentum with revenue at 35% at INR 520 crore in Q4FY21 as against INR 386 crore in Q4FY20, contributed mainly by the new electric vehicle that accounted for over 30% of the total business.
In a regulatory filing, the company said its EBIDTA was at INR 42 crore in Q4FY21 as against INR 24 crore in Q4FY20.
The company said its Diversification strategy bearing fruits for the organisation.
Home-grown auto and parts manufacturer Greaves Cotton’s PAT stood at INR 14 crore in Q4FY21 as against INR1 crore in the same period previous year. The company has reported continued growth momentum with revenue at 35% at INR 520 crore in Q4FY21 as against INR 386 crore in Q4FY20, contributed mainly by the new electric vehicle that accounted for over 30% of the total business.
In a regulatory filing, the company said its EBIDTA was at INR 42 crore in Q4FY21 as against INR 24 crore in Q4FY20.
The company said its Diversification strategy bearing fruits for the organisation.
Greaves E-mobility segment has seen higher growth momentum, with Ampere gaining popularity due to rise in demand for its electric two-wheelers (electric scooters) and electric three-wheelers (electric rickshaws).
The non-auto business segment has also seen significant growth and expected to do well in the coming quarter, especially agriculture equipment, due to the favourable monsoon ahead.
Nagesh A Basavanhalli, Group CEO and Managing Director, Greaves Cotton, said, “Overall we saw growth in Q4 owing to our diversification strategy, new business initiatives like e-mobility, aftermarket solutions, non-automotive engines. We are continuously looking at investing in sustainable growth areas in order to enhance our capabilities, our commitment to investing in Ranipet EV facility is a testament of the same.”
“With the second wave of COVID-19 pandemic, Business Continuity Planning has become critical, and we are prioritising our efforts to safeguard our employees and provide them a safe working environment,” he added.
The non-auto business segment has also seen significant growth and expected to do well in the coming quarter, especially agriculture equipment, due to the favourable monsoon ahead.
Nagesh A Basavanhalli, Group CEO and Managing Director, Greaves Cotton, said, “Overall we saw growth in Q4 owing to our diversification strategy, new business initiatives like e-mobility, aftermarket solutions, non-automotive engines. We are continuously looking at investing in sustainable growth areas in order to enhance our capabilities, our commitment to investing in Ranipet EV facility is a testament of the same.”
“With the second wave of COVID-19 pandemic, Business Continuity Planning has become critical, and we are prioritising our efforts to safeguard our employees and provide them a safe working environment,” he added.