29-Oct-2026 16:53:46

GREAVES COTTON Q2 : CONS REVENUE UP 44% AT RS 110 CR (YOY); PBT AT RS -16 CR AFTER RS 60 CR ONE-OFFS. GOOD (ON 1ST LOOK)

• Revenue up 44% at ₹1,176 Cr (YOY); H1 FY27 revenue ₹2,150 Cr, up 38% (YOY). • EBITDA up 43% at ₹73 Cr (YOY) from ₹51 Cr; H1 FY27 EBITDA ₹130 Cr v ₹108 Cr; margins 6.2% v 6.2% (YOY). • Business PBT ₹44 Cr in Q2; reported PBT -₹16 Cr after exceptional and one-off items of ₹60 Cr; H1 FY27 PBT ₹11 Cr. • Standalone revenue up 24% at ₹682 Cr (YOY); standalone PBT ₹56 Cr; EBITDA ₹69 Cr. • GEML revenue up 106% at ₹410 Cr (YOY) from ₹199 Cr, EBITDA losses halved; Ampere 2W VAHAN registrations up 114% (YOY). • GFL AUM up 65% (YOY) at ₹630 Cr; raised ₹110 Cr debt in the quarter. • Caution: ₹60 Cr of exceptional and one-off items turned reported consolidated PBT negative in Q2 FY27.

Greaves Cotton Ltd

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