Now Reading: Greaves Cotton expands electric powertrains and exports
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Greaves Cotton expands electric powertrains and exports
Greaves Cotton is validating electric powertrains with multiple original equipment manufacturers while expanding exports under its Greaves.Next strategy. Its mobility business revenue grew 18 per cent year on year in the first…
The Story in Brief
Greaves Cotton is validating electric powertrains with multiple original equipment manufacturers while expanding exports under its Greaves.Next strategy. Its mobility business revenue grew 18 per cent year on year in the first quarter, while automotive engine revenue rose 36 per cent. Greaves Electric Mobility’s Vahan registrations increased 101 per cent, against 75 per cent industry growth, lifting its national market share to 5.6 per cent by June.
Consolidated revenue rose 31 per cent to Rs 975 crore, but higher commodity costs and investments reduced profitability. Overseas business contributed about 13 per cent of core revenue. The company opened a Dubai hub for Middle East and Africa operations, began exporting firefighting engines and completed a defence order for military truck engines. Management expects the second quarter to be marginally better than the first.
The Indian Opinion
The easy story is that surging EV registrations have already solved Greaves’s growth problem. The opposite claim, that spending on exports and technology is simply hurting returns, is also too narrow. Market share gains matter, but validation with OEMs is not the same as large-scale orders, and revenue growth has yet to ease margin pressure. The key test is whether the promised improvement in the second quarter appears alongside stronger margins, not just higher sales.
Source: auto.economictimes.indiatimes.com
This story was synthesised by AI from the source linked above.
