Greaves Cotton Limited has reported consolidated revenue of ₹1,176 crore for the second quarter of FY27, up 44% from a year earlier, supported by growth across its core businesses and investee companies. Revenue for the first half of FY27 rose 38% year-on-year to ₹2,150 crore.
Consolidated EBITDA increased 43% to ₹73 crore in Q2 FY27, compared with ₹51 crore in the corresponding quarter last year. First-half EBITDA stood at ₹130 crore against ₹108 crore a year earlier. Business profit before tax (PBT) was ₹44 crore for the quarter and ₹71 crore for the first half. After exceptional and one-off items of ₹60 crore, consolidated PBT for Q2 FY27 was a loss of ₹16 crore. First-half PBT stood at ₹11 crore.
On a standalone basis, revenue increased 24% year-on-year to ₹682 crore in Q2 FY27 and 20% to ₹1,312 crore in H1 FY27. EBITDA stood at ₹69 crore for the quarter and ₹140 crore for the first half, while PBT was ₹56 crore and ₹123 crore, respectively. Greaves Cotton’s core businesses across Energy Solutions, Mobility Solutions and Industrial Solutions grew 24% year-on-year in Q2 and 20% in H1 FY27.
Energy Solutions revenue increased 36% in the quarter, supported by demand for diesel generator sets. The medium- and high-power genset portfolio, covering 160–750 kVA, grew 35% in H1, while aftermarket revenue rose 15%. The business also expanded exports through deliveries of upgraded gensets to a Middle East market.
Mobility Solutions recorded 23% growth in Q2 and 22% in H1. The automotive engines business introduced the G470 diesel engine for three-wheeler applications. Engineered Components revenue grew 30%, supported by domestic and export demand, including new orders from Tata Motors Indonesia.
Greaves Electric Mobility Limited (GEML) reported consolidated revenue of ₹410 crore in Q2 FY27, up 106% from ₹199 crore a year earlier. H1 revenue reached ₹680 crore, an increase of 103%. Ampere electric two-wheeler registrations rose 114% year-on-year in Q2, while L5 electric three-wheeler registrations increased 74%. GEML held a 4.8% share of the electric two-wheeler market in H1 and reduced EBITDA losses by half year-on-year.
The company introduced new electric vehicle variants, including the Ampere Nexus EX+ and Magnus G-Max. GEML also expanded its dealer network by 31% to more than 600 touchpoints. Greaves Finance Limited’s assets under management rose 65% year-on-year to ₹630 crore. It launched an L5 electric three-wheeler leasing product and raised ₹110 crore in debt during the quarter.
Managing Director and Group CEO Parag Satpute said the company would focus on operating efficiency, product development, exports and higher-value customer solutions under its GREAVES.NEXT strategy. Priorities for the second half include margin recovery, disciplined capital allocation and stronger financial performance.
