New Delhi: Greaves Cotton Restricted, a number one diversified engineering firm, has reported standalone revenues of INR 481 crore for the fourth quarter of fiscal yr 2024, a rise of 10% Y-o-Y. The Firm has reported an enchancment in standalone margins with quarterly EBITDA at INR 56 crore, a progress of 9% Y-o-Y. The Q4FY24 consolidated income stood at INR 673 crore.
On a full-year foundation, standalone revenues stood at INR 1,779 crore, a progress of 15percentY-o-Y. On a consolidated foundation, the corporate reported revenues of INR 2,633 crore.
Standalone EBITDA for FY24 stood at INR 232 crores, a progress of 53% Y-o-Y, and an enchancment in margins by 325 bps Y-o-Y. GCL Proposed ultimate Dividend of 100%. Greaves Electrical Mobility’s consolidated income stood at INR 612 crore, with a powerful concentrate on new product launches and the trail to profitability, the corporate stated in a media launch.
The engineering and retail companies registered progress of 17% and 10%, respectively. Greaves Cotton’s acquisition of Excel Controlinkage has confirmed to be worth accretive, with first-year income reaching INR 263 crore, a progress of 41% yr over yr.
Nagesh Basavanhalli, Non-Govt Vice Chairman of Greaves Cotton Restricted, stated, “Our transformation journey from diesel engines to a multifaceted organisation embracing a fuel-agnostic method, bringing us nearer to our clients. The Firm’s efficiency underscores the resilience of our diversification technique. Collaborating with Excel has unlocked new capabilities and progress avenues for Greaves Engineering. Our evolution from a B2B to a B2B+B2C firm has been fuelled by the robustness of our technique, contributing to our progress. This transformation has been pivotal, instilling confidence to ship sustainable worth to clients and shareholders.”
Greaves Engineering has been maximising competitiveness with a flexible product portfolio adaptable to mechatronics and electronics, complemented by cost-efficient methods, synergistic partnerships, and an increasing world presence within the USA and EU. The collaboration with Excel Controlinkage over the previous yr has confirmed to be the epitome of success, marked by profitability and sturdy progress, solidifying it as our most fruitful partnership but.
Greaves Retail’s constant top-three presence underscores its dedication to excellence throughout various domains. Their newest enterprise into EV options, spanning charging infrastructure, aftermarket elements, and batteries, showcases ongoing innovation within the electrical car sector whereas fortifying operations for future progress. Greaves Retail signed a expertise licensing settlement with Tsuyo to fabricate motors and motor controllers at our forthcoming facility in Tamil Nadu.
Greaves Retail is investing in digitalising its provide chain, enhancing each mechanics’ and retailers’ experiences and enhancing provide chain efficiencies by launching the brand new Greaves Upahar app, a mechanic loyalty program.
Greaves Electrical Mobility launched the Greaves Eltra Metropolis, a passenger L3 car, whereas broadening the 3W financing community with 16 PAN-India and 16 state-specific companions, fostering the dedication to accessible and handy mobility options. The Firm not too long ago introduced the appointment of Ok. Vijaya Kumar as Govt Director and CEO of the Greaves Electrical Mobility section to steer its initiatives in product improvement, seller distribution, and market growth, amongst different areas.
The B2B companies contributed 57% to the general revenues on this quarter, reflecting the success of the diversification technique. These accomplishments showcase the Firm’s dedication to innovation, market growth, and sustainable mobility options.
Akhila Balachandar, CFO, Greaves Cotton Restricted, added, “The monetary outcomes spotlight the distinctive efficiency of Greaves Engineering & Excel, together with the spectacular growth of Greaves Retail. The launch of our new EV options enterprise vertical has offered a strong basis, and we’re excited in regards to the renewed curiosity in Greaves 3W on the NAB portal. The momentum we’ve established reinforces our confidence in our technique, reaffirming our dedication to delivering sustainable worth constantly.”
