For the fourth quarter of FY26, the company reported consolidated revenue of Rs. 1,000 crore, reflecting a year-on-year growth of 22 percent. Standalone revenue for the same period stood at Rs. 698 crore, also registering 22 percent growth year-on-year. Consolidated EBITDA for the quarter was Rs. 68 crore, while operating profit before tax stood at Rs. 44 crore.
For the full financial year FY26, consolidated revenue reached Rs. 3,437 crore, marking an 18 percent increase over the previous year. EBITDA stood at Rs. 239 crore, with operating profit before tax at Rs. 154 crore. The company reported a margin expansion of 210 basis points at the operating profit level. On a standalone basis, FY26 revenue stood at Rs. 2,365 crore, up 19 percent year-on-year, with EBITDA of Rs. 320 crore and operating profit before tax of Rs. 312 crore, reflecting a margin expansion of 40 basis points.
International operations emerged as a key growth driver, increasing their contribution to core revenue from 9 percent to 13 percent during FY26, supported by rising demand across Energy, Mobility, and Industrial businesses.
Energy Solutions delivered sustained momentum, with 17 percent growth in Q4 FY26 and 20 percent growth for the full year. The segment was significantly supported by a 35 percent year-on-year rise in aftermarket business following integration of sales and service operations. Mobility Solutions recorded 20 percent growth in Q4 and 16 percent growth for FY26, driven by strong demand in international markets, particularly for Euro V+ compliant diesel engines, alongside robust domestic demand. Industrial Solutions grew 15 percent in Q4 and 6 percent for FY26, supported by demand from agriculture, firefighting, and defence applications.
Greaves Electric Mobility recorded 61,597 electric two-wheeler VAHAN registrations in FY26, registering 51 percent annual growth. The company strengthened its position in the top six players in the segment and achieved a 4.4 percent market share in Q4. It also introduced the Magnus 6.0, the next-generation flagship platform aimed at competing in the internal combustion engine scooter category.
Greaves Finance reported growth in its managed assets under management, which increased to Rs. 521 crore from Rs. 445 crore in December. The business expanded its ecosystem by partnering with OEMs including Simple Energy, Suzuki, and Ultraviolette, while also launching new financial products.
Operational improvements included enhanced capacity and efficiency at the CSN and Nagpur facilities, including a dual conveyor system at the single-cylinder engine plant in CSN.
Managing Director and Group Chief Executive Officer Parag Satpute stated that FY26 marked a transition from strategy to execution under Greaves.Next, highlighting strong demand, improved profitability, and disciplined execution across businesses. He emphasized the company’s strengthened international partnerships and the transition of Energy Solutions into a solutions-led model.
For FY27, the company stated that it enters the year with strong momentum and strategic clarity, focusing on execution discipline, margin enhancement, and sustainable growth while exploring adjacent opportunities.
Founded over 165 years ago, Greaves Cotton Limited operates across Energy Solutions, Mobility Solutions, and Industrial Solutions, with a strategic focus on engineering innovation and sustainable technologies. The company continues to position itself as a key contributor to India’s industrial and mobility ecosystem, including applications in defence and infrastructure sectors.
Its subsidiary Greaves Electric Mobility Limited has filed a draft red herring prospectus with the Securities and Exchange Board of India for a proposed initial public offering, subject to regulatory approvals and market conditions. The offering is not registered in the United States and is intended for qualified institutional buyers and offshore investors under applicable regulations.
Greaves Cotton continues to emphasize long-term value creation through disciplined capital allocation, technological advancement, and expansion across core and emerging business segments.
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