Greaves Cotton Limited, a diversified engineering company in India, has announced consolidated revenue of INR 705 crore in Q2FY25, with standalone revenue growing by 2% to INR 468 crore. Contributions from Excel, a recent acquisition, added INR 61 crore to the quarterly revenue. In H1FY25, the company reported consolidated revenue of INR 1,345 crore and standalone revenue of INR 912 crore, reflecting a 7% year-over-year increase. EBITDA for the first half stood at INR 109 crore, while standalone Profit Before Tax (PBT) reached INR 106 crore.
Chief Financial Officer Akhila Balachandar stated, “Our Q2 results reflect the resilience of our diversification strategy and the growth momentum across our businesses. Performance in Retail, Engineering, and Excel, alongside Electric Mobility, underscores our adaptable approach to market demands and our commitment to delivering stakeholder value.”
The Engineering and Retail segments grew by 6% and 7%, respectively, in H1FY25. The integration of Excel has strengthened Greaves’ Engineering business, broadening its capabilities. Combined revenue for its standalone operations and Excel reached INR 1,036 crore in H1, with an EBITDA of INR 144 crore for the period.
The Electric Mobility division also saw strong growth, reporting INR 175 crore in revenue for Q2 and INR 302 crore for H1, driven by new product launches and a focus on profitability.
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