Greaves Cotton Reports Strong Q1 FY27 Growth, Expands Global Presence With Dubai Unit

Greaves Cotton Limited, one of India's leading diversified engineering companies, has announced its financial results for the quarter ended June 30, 2026, delivering a steady performance across its diversified businesses. During the quarter, the company continued executing its Greaves.Next strategy by strengthening its core businesses, expanding its international footprint, and making strategic investments to support future growth. The company said these initiatives reflect its commitment to prudent capital allocation, portfolio diversification, and building a globally relevant engineering enterprise positioned for sustainable long-term value creation.

On a consolidated basis, revenue for Q1 FY27 stood at INR 974 crore, registering a 31 percent year-on-year increase. EBITDA stood at INR 56 crore, while Operating Profit Before Tax (PBT) was reported at INR 27 crore.

On a standalone basis, revenue for Q1 FY27 stood at INR 629 crore, up 16 percent year-on-year. EBITDA was reported at INR 71 crore, while Operating PBT stood at INR 67 crore.

Parag Satpute, MD & Group CEO, Greaves Cotton Limited, said, "We have begun FY27 on a strong note, delivering a solid performance on the back of disciplined execution across our businesses, while strengthening our strategic foundations under Greaves.Next. During the quarter, we expanded our international footprint with the establishment of a subsidiary in Dubai, UAE, enhanced our manufacturing capabilities through advanced automation, and continued to grow across our domestic and international businesses despite commodity price and supply chain pressures. We also reaffirmed our commitment to future-ready businesses through investments in Greaves Electric Mobility and Greaves Finance. Supported by a strong balance sheet, we are well positioned to drive organic growth, invest in our portfolio companies, and capitalise on emerging growth opportunities. Demand across segments remains encouraging and we remain focused on executing our strategy with discipline to build a stronger, more future-ready Greaves."

The company's Energy Solutions business maintained its growth momentum during the quarter, recording revenue growth of 21 percent year-on-year, supported by healthy demand across infrastructure, manufacturing, and industrial applications. Domestic sales of the Medium Horsepower (MHP) genset portfolio increased 32 percent year-on-year, while the company also commissioned a Battery Energy Storage System (BESS) pilot to strengthen its integrated solutions portfolio.

The Mobility Solutions business recorded 18 percent year-on-year revenue growth, supported by strong performance across key segments. Automotive engines registered 36 percent year-on-year growth, while the Engineered Components business grew 14 percent year-on-year, driven by healthy domestic demand and steady export momentum. Demand for Euro V+ compliant engines remained encouraging in export markets. The Engineered Components domestic business also secured new orders from major OEMs, including Caterpillar UK and TAFE.

The Industrial Solutions business continued to witness sustained demand across defence, marine, and agriculture applications, further strengthening engagement with OEM customers across specialised industrial applications.

The company's international business contributed 13 percent to core business revenue during the quarter. Greaves Cotton also incorporated Greaves International Trading FZE in Dubai, UAE, establishing a regional hub aimed at strengthening customer engagement and distribution capabilities across the Middle East and Africa.

Greaves Electric Mobility continued to strengthen its market position through sustained network expansion and portfolio enhancements. In the electric two-wheeler segment, VAHAN volumes more than doubled, growing 101 percent year-on-year during Q1 FY27, while market share increased from 4.3 percent in FY26 to 5.6 percent in June 2026. In the three-wheeler segment, L5 VAHAN volumes grew 39 percent year-on-year, with electric L5 volumes nearly doubling, reflecting strong demand and continued market penetration across key segments.

The company also informed that the INR 530 crore rights issue of Greaves Electric Mobility has been fully subscribed, with its Board approving the allotment of equity shares to all eligible shareholders. Greaves Cotton Limited subscribed to its full entitlement of approximately INR 331 crore, and its shareholding in Greaves Electric Mobility Limited remains unchanged at 62.48 percent.

Greaves Finance continued its growth trajectory during the quarter, with Assets Under Management crossing INR 560 crore, increasing from INR 521 crore in March 2026. The company also expanded its presence by 12 additional locations. During the quarter, Greaves Cotton subscribed to the INR 50 crore rights issue to support the company's next phase of growth.

Looking ahead, Greaves Cotton said it remains focused on strengthening execution across its core businesses while continuing investments in technology, international expansion, and future-ready opportunities under the Greaves.Next strategy. Supported by a strong balance sheet, disciplined capital allocation, and a diversified engineering portfolio, the company said it remains well positioned to deliver sustainable long-term growth while navigating an evolving macroeconomic environment. It added that it will continue focusing on operational excellence, innovation, and customer-centric solutions to create long-term value for all stakeholders.