Greaves Cotton Q4 Review - Auto Lags, Non-Mobility Picks Up: ICICI Direct
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ICICI Direct Report
Greaves Cotton Ltd.’s standalone revenues came in at Rs 457 crore, up 27.1% YoY, 4.6% QoQ.
Consolidated revenue grew 35% YoY, 5.2% QoQ led by strong growth in the electric vehicle segment.
Engine segment revenues came in at Rs 425 crore, up 28% YoY, 3% QoQ.
On the other hand, e-mobility segment revenue grew 100% YoY, 19.5% QoQ to Rs 69.09 crore.
Standalone Ebitda increased 54.9% YoY to Rs 47.3 crore and fell 12% QoQ.
Standalone Ebitda margins improved 186 basis points YoY to 10.4% whereas the same fell 196 bps on a QoQ basis.
On a consolidated basis, Ebitda came in at Rs 41.59 crore, up 76% YoY, down 15% QoQ.
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