Greaves Cotton Delivers Strong FY26 Growth Across Businesses

11 May 2026 CW Team

Greaves Cotton Limited (Greaves) reported audited results for the quarter and year ended 31 March 2026, registering consolidated Q4 revenue of Rs 10 bn, up 22 per cent year on year, and standalone Q4 revenue of Rs 6,980 mn, also up 22 per cent. The company credited execution under Greaves.Next for the performance.

On a consolidated basis for FY26 revenue rose to Rs 34,370 mn, an increase of 18 per cent, with EBITDA of Rs 2,390 mn and operating profit before tax of Rs 1,540 mn. Q4 consolidated EBITDA was Rs 680 mn and operating PBT was Rs 440 mn.

Standalone FY26 revenue reached Rs 23,650 mn, up 19 per cent, with EBITDA of Rs 3,200 mn and operating PBT of Rs 3,120 mn, and margins expanding by 40 basis points. The international business increased its contribution to core revenue from nine per cent to 13 per cent.

Segment performance was broad based. Energy Solutions grew 17 per cent in Q4 and 20 per cent for FY26, with aftermarket rising 35 per cent. Mobility Solutions recorded 20 per cent Q4 growth and 16 per cent for the year, while Industrial Solutions rose six per cent for FY26 and 15 per cent in Q4.

Greaves Electric Mobility reported E-2W VAHAN registrations of 61,597 units in FY26, a 51 per cent increase, and an improved market share of four point four per cent following the launch of the Magnus six point zero platform. Greaves Finance scaled assets under management to over Rs 5,210 mn from Rs 4,450 mn.

Entering FY27 the company said it holds strategic clarity and will focus on strengthening execution, enhancing margins and disciplined capital allocation while monitoring macroeconomic conditions. Operational upgrades at CSN and Nagpur and stronger international customer relationships were cited as foundations for disciplined, high quality growth and new opportunities.

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