Greaves Cotton Limited (GCL), an engineering company with a legacy spanning 165 years, has outlined an ambitious goal of achieving ₹15,000 crore in revenue by 2030. The company plans to accomplish this through a combination of organic growth and strategic acquisitions, as highlighted by its leadership on Tuesday.
Once known for its single-cylinder diesel engines, Greaves Cotton has transformed into a fuel-agnostic mobility solutions provider. Chairman Karan Thapar emphasized the company’s evolution, stating, “Over the past five years, we have built a strong foundation, enabling us to deliver comprehensive mobility solutions that connect consumers, partners, and service providers within a digitally integrated ecosystem. Despite external challenges, we remain committed to achieving our revenue aspirations and driving the transition to sustainable mobility.”
Addressing leadership changes, Thapar noted that Nagesh Basavanhalli, the current Non-Executive Vice Chairman, has expressed plans to transition from his role. To ensure continuity, he will remain in his position until a new leader is appointed.
Earlier the company ended in Q2 FY25, reported consolidated revenue of ₹705 crore, with standalone revenue increasing by 2% to ₹468 crore. Excel contributed ₹61 crore to the quarterly revenue. For the first half of FY25, consolidated revenue stood at ₹1,345 crore, while standalone revenue reached ₹912 crore, marking a 7% year-over-year growth.
The company’s EBITDA for H1 FY25 was ₹109 crore, and standalone Profit Before Tax (PBT) totaled ₹106 crore. The Engineering and Retail segments showed steady growth, recording 6% and 7% increases, respectively, during H1 FY25. Excel’s integration strengthened the Engineering segment, enhancing the company’s reach and capabilities. Combined revenues from Greaves’ standalone operations and Excel amounted to ₹1,036 crore for H1 FY25, with EBITDA for these businesses totaling ₹144 crore for the six months ending September 30, 2024.
With a vision of touching a billion lives by 2030, Greaves Cotton continues to expand its multi-fuel and multi-product offerings, positioning itself as a key player in India’s green mobility transformation. Greaves Cotton Limited, a 165-year-old engineering company, has evolved from a manufacturer of single-cylinder diesel engines into a fuel-agnostic provider of comprehensive mobility solutions. With a focus on innovation and sustainability, the company offers a diverse portfolio spanning multi-fuel engines, electric mobility, and green technology products.
Greaves Cotton serves a wide range of industries, including automotive, agriculture, and industrial applications, while supporting India’s transition to cleaner and more efficient mobility. Driven by its purpose to touch a billion lives by 2030, the company is building a digitally integrated ecosystem that connects consumers, partners, and service providers across the mobility value chain.
