Greaves Cotton Limited, a prominent diversified engineering company in India, has announced its robust performance for Q1 FY25. The company reported a 12% year-on-year revenue growth, reaching INR 445 crore on a standalone basis. Additionally, the quarterly EBITDA stood at INR 50 crore, marking a 12% increase from the previous year. On a consolidated basis, the revenue for the quarter reached INR 640 crore, reflecting a 13% increase.
During Q1 FY25, Greaves Cotton witnessed significant growth in its automotive engines segment, which saw a remarkable 31% increase. The company's market share also rose to 57%, indicating a strong position in the industry. Greaves Cotton introduced new alternate fuel engines and transitioned to CPCB IV+ gensets, receiving positive feedback from the market. The company's commitment to a fuel-agnostic approach has expanded its product range and global reach, with exports now accounting for 12% of the Engineering revenue.
Greaves Retail, a division of the company, expanded its original equipment partnerships with large conglomerates and multinational corporations. The introduction of a new e-commerce delivery model for selling 2WMB parts and the establishment of new businesses in sectors like construction equipment have further diversified the company's portfolio. GEMPL, another segment of Greaves Cotton, experienced a 10% increase in 2W volumes and a 19% increase in 3W volumes quarter-on-quarter, driven by the successful launch of Nexus, a high-performance family scooter.
Ms. Akhila Balachandar, the CFO of Greaves Cotton Limited, emphasized the success of the company's diversification strategy in Q1 FY25. The strong revenue growth and expansion into new markets reflect Greaves Cotton's commitment to innovation and sustainable growth. With a positive market response and continued focus on product development, Greaves Cotton Limited is well-positioned for future success in the engineering industry.
Vietnam's semiconductor industry is on the rise, with FPT Semiconductor at the forefront of this technological wave. Chairman Tran Dang Hoa shared insights at the Vietnam-Korea Semiconductor Cooperation Conference on the potential for collaboration between Vietnam and South Korea. FPT firmly...
EyeROV, a marine robotics deep-tech startup, has successfully secured INR 10 Crore ($1.2 million) in a Pre-Series A funding round led by Unicorn India Ventures. This funding will play a crucial role in strengthening EyeROV's presence in international markets and advancing the development of...
FPT Semiconductor, a subsidiary of FPT Corporation, is gearing up for collaboration with Korean enterprises to capitalize on the 'Semiconductor Wave' in Vietnam. At the Vietnam-Korea Semiconductor Cooperation Conference in Hanoi, Mr. Tran Dang Hoa, Chairman of FPT IS and FPT Semiconductor,...
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...
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...
