Greaves Cotton Limited, a leading diversified engineering company in India, has reported robust results for the first quarter of FY25. The company's standalone revenues grew by 12% year-on-year to INR 445 crore, with quarterly EBITDA reaching INR 50 crore, also up by 12% year-on-year. On a consolidated basis, the revenue stood at INR 640 crore, showing a 13% increase.
During Q1 FY25, Greaves Cotton Limited witnessed significant growth, particularly in the automotive engines segment, which saw a 31% increase. The company's market share also rose to 57%. Greaves Cotton introduced new alternate fuel engines and transitioned to CPCB IV+ gensets, which received a positive response from the market. The company's commitment to a fuel-agnostic approach has led to the expansion of its product range and global reach, with exports now accounting for 12% of the Engineering revenue. There has been a substantial increase in exports to the United States and the European Union, along with the development of e-powertrains.
Greaves Retail, a division of the company, has expanded its original equipment partnerships with large conglomerates and multinational corporations. It has also piloted an e-commerce delivery model for selling its 2WMB parts and ventured into new businesses in areas such as construction equipment. At GEMPL, 2W volumes increased by 10% and 3W volumes by 19% quarter-on-quarter, driven by the launch of Nexus, a high-performance family scooter, and enhancements in the supply chain for ELTRA.
Ms. Akhila Balachandar, the CFO of Greaves Cotton Limited, highlighted the success of the company's diversification strategy in Q1 FY25. The strong revenue growth reflects the company's commitment to expanding its product offerings and reaching a broader global audience. With a focus on innovation and market responsiveness, Greaves Cotton Limited is poised for continued success in the upcoming quarters.
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