Greaves Cotton registers highest ever quarterly consolidated revenue of Rs699 crore

15 Nov 2022 , 09:18 AM

Greaves Cotton Limited, one of India’s leading diversified engineering companies, has announced its consolidated revenues of Rs699 crore for the Q2FY23, recording a healthy growth of 87% over Q2FY22.

The Company has reported an improvement in margins with quarterly EBITDA at Rs43 crore. The electric mobility business of Greaves recorded highest ever quarterly revenues of Rs318 crore, and sales of ~33K units. This reflects the trust enjoyed by the ere brand and the growing adoption of electric mobility in India. Greaves Retail added over 40 new stores in YTD FY23, retailing 15+ brands and continued its growth momentum.

B2C businesses contributed 65% to the overall revenues in this quarter, reflecting success of the diversification strategy. ere the E 2-wheeler brand continued its leadership position and remained within top 3 players in e2W segment.

The auto applications business registered YoY growth of 109%. The non-auto applications registered YoY growth of 17%.

Company reported H1FY23 consolidated revenues of Rs1,359 crore with YoY growth of 126%.

Key Highlights:

• Consolidated EBITDA for Q2 FY23 stood at Rs43 crore
• E-2 Wheeler and E-3 Wheeler business has recorded highest ever quarterly revenues of Rs318 crore, and sales of ~33k units
• E-Mobility business continues its growth momentum with Y-o-Y growth of 256%
• B2C business contribution increased to 65%

At around 9:18 AM, Greaves Cotton Ltd is currently trading at Rs162.75 per share up by Rs14 or 9.41% from its previous closing of Rs148.75 per share on the BSE.

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