Mumbai: Greaves Cotton Limited, a diversified engineering company, announced its financial results for the quarter and full year ended March 31, 2026, delivering a strong performance across businesses, underpinned by consistent execution, margin expansion, and strategic clarity through Greaves.Next, according to a press release issued by the company.
Consolidated:
Revenue for Q4 FY26 stood at ₹1000 crore, up 22% YoY. EBITDA of ₹68 crore and Operating PBT of ₹44 crore
Revenue for FY26 stood at ₹3437 crore, up 18% YoY. EBITDA of ₹239 crore and Operating PBT ₹154 crore. Operating PBT margins expand by 210 bps.
Standalone:
Revenue for Q4 FY26 was at ₹698 crore, up 22% YoY. EBITDA of ₹87 crore and Operating PBT of ₹87 crore
Revenue for FY26 stood at ₹2365 crore, up 19% YoY. EBITDA of ₹320 crore and Operating PBT of ₹312 crore, with operating PBT margins expand by 40 bps.
Parag Satpute, MD & Group CEO, Greaves Cotton Limited, said, “FY26 has been a defining year for Greaves Cotton, wherein we transitioned from strategy to execution under Greaves.Next. We delivered a robust 22% growth at a consolidated level driven by strong demand, improved profitability and disciplined execution. This was propelled by good momentum in the international business, particularly in the mobility business as we continued to focus on deepening partnerships and customer relationships with global OEMs. Energy Solutions is transitioning from a product to solutions-led business and continued its upward trajectory, strengthening its aftermarket business. We are now entering the next phase of our journey, and we remain committed to sustainable growth, disciplined capital allocation, and creating long-term value for our stakeholders.”
FY26 was a year of strong execution and strong broad-based growth across core businesses, with growth across all segments contributing to the Company’s performance, supported by healthy demand, sharper operating discipline, and strategic interventions.
Energy Solutions delivered continued growth momentum, with revenue increasing 17% in Q4 FY26 and 20% for FY26. Performance was led by a sharp 35% YoY growth during the year in aftermarket, post integration of sales and service
Mobility Solutions recorded 16% growth in FY26 and 20% in Q4 FY26, supported by strong demand in the International Business, particularly for Euro V+ compliant diesel engines, as well as robust domestic demand across key end-use segments. Additionally, Excel Controlinkage added new products and solutions, entering supplies for the SCV segment, as well as new geographies and customers, thereby expanding presence despite facing global macro-economic headwinds.
Industrial Solutions delivered 6% in FY26 and 15% growth in Q4FY26 driven by strong demand across Agri, firefighting and defence applications.
International Business, identified as a key growth priority, grew in contribution to the core business revenue from 9% to 13% in FY26. The business strengthened its presence across global markets, driven by strong customer relationships, repeat orders across Europe and other regions.
Further, we enhanced capacity and capability of our CSN & Nagpur facilities, as we operationalized a dual conveyor setup at the single cylinder engines plant in CSN and increased efficiency and productivity in Nagpur.
In Greaves Electric Mobility, E-2W VAHAN registrations reached 61,597 units in FY26, delivering a strong 51% annual growth. The Company, now in top 6 E2W segment, exited Q4 with an improved market share of 4.4%, reflecting sustained market share capture and deeper penetration across urban and semi-urban markets. The Magnus 6.0, next generation of the flagship Magnus platform was launched to take on the ICE scooter segment.
In Greaves Finance, managed Assets Under Management (AUM) scaled to over ₹521 crore, increase from ₹445 crore in December. The company signed up with new OEMs like Simple, Suzuki and Ultraviolette and launched new products.
FY27 Outlook
Building on a strong FY26, the Company enters FY27 with clear momentum and strategic clarity. We remain committed to strengthening execution, enhancing margins, and building a more resilient business. At the same time, we are closely monitoring the evolving macroeconomic environment and will act with agility to mitigate any potential headwinds.With a strengthened operating foundation, the Company is well-positioned to deliver disciplined, high-quality growth across its core businesses, while continuing to scale new opportunities and evaluating entry into strategic adjacencies.
