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.
CBD Life Sciences Inc. (OTC PINK:CBDL), along with its subsidiary The CBD Vault Inc., based in Scottsdale, Arizona, has expressed its support for the recent endorsement of cannabis legalization by the Harris-Walz presidential ticket. This unprecedented move by a major U.S. political ticket to...
Draganfly Inc. (NASDAQ: DPRO; CSE: DPRO; FSE: 3U8A), a renowned drone solutions and systems developer, is set to host a shareholder update call on August 13th, 2024, at 5:30 pm EST. The company's CEO, Cameron Chell, will lead the call, discussing key milestones, while CFO Paul Sun will delve...
Tesla's presence in Selangor, Malaysia, is set to grow as the state government welcomes the electric vehicle (EV) giant's plans for continued investment in research and development, as well as the opening of EV service centers. Menteri Besar Datuk Seri Amirudin Shari expressed enthusiasm for...
Vietnam's semiconductor industry is on the brink of significant growth, with FPT Semiconductor leading the charge. At the Vietnam-Korea Semiconductor Cooperation Conference, Chairman Tran Dang Hoa shared insights into the collaboration between Vietnam and South Korea. FPT Semiconductor, a...
Companies in the United States and Canada have been facing a wave of job cuts in 2024, adding to the thousands of layoffs that occurred last year. The uncertain outlook on potential interest rate cuts by the Federal Reserve has left businesses grappling with economic unpredictability, even as...
