Greaves Cotton reports strong Q2, H1 FY26 performance on broad-based growth

Greaves Cotton Limited reported a 16% year-on-year increase in consolidated revenues for Q2 FY26, reaching INR 815 crore. For H1 FY26, consolidated revenue grew by the same percentage to INR 1,561 crore, reflecting broad-based growth and improved profitability. Standalone revenue for Q2 FY26 was INR 552 crore with an EBITDA of INR 78 crore and PBT of INR 75 crore. H1 FY26 standalone revenue stood at INR 1,092 crore with an EBITDA of INR 152 crore and PBT of INR 151 crore, showing a 44% year-on-year growth in PBT and a 210 bps expansion in EBITDA margins.

The Engineering businesses saw a 31% year-on-year growth in Q2 with INR 406 crore revenue, while the Automotive business surged by 48% year-on-year. Greaves Retail reported INR 146 crore in revenue, expanding across Tier 2 and 3 markets. Excel Controlinkage, with GCL's shareholding now at 80%, recorded INR 57 crore in Q2 revenues and INR 117 crore in H1. The Electric Mobility division delivered INR 199 crore in Q2 revenue and INR 336 crore in H1.

GCL outlined its "GREAVES.NEXT" strategy, focusing on accelerating its core, building new muscle, and expanding into new horizons through M&A and partnerships. The company aims for a sustained revenue growth of 16% to 20% CAGR for its core businesses over the next 4 to 5 years. ROCE remains healthy at over 30%, and the company maintains a net cash positive financial position.