Greaves Cotton Limited has announced its audited standalone and consolidated financial results for the financial year and quarter ended March 31, 2026. The Board of Directors, which met on May 6, 2026, approved the financial results and recommended a dividend for the fiscal year. The company delivered a strong performance across businesses, underpinned by consistent execution, margin expansion, and strategic clarity through its GREAVES.NEXT strategy. The statutory auditors, Price Waterhouse Chartered Accountants LLP, have issued unmodified opinions on both the standalone and consolidated audited financial results. In compliance with Regulation 47 of the SEBI Listing Regulations, the audited financial results were published in newspapers on May 7, 2026, as detailed below:

Pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the audio recording of the earnings call for the quarter and financial year ended March 31, 2026, held on May 6, 2026, can be accessed through the company's website at www.greavescotton.com .

Standalone Financial Performance

For the financial year ended March 31, 2026, Greaves Cotton reported a standalone net profit of Rs 200.07 crore, an increase from Rs 185.87 crore in the previous year. Total income for the year stood at Rs 2,409.59 crore, up from Rs 2,027.40 crore. Revenue from operations grew to Rs 2,364.56 crore from Rs 1,988.02 crore, reflecting a 19% YoY growth. Standalone EBITDA for FY26 was Rs 320 crore, with Operating PBT at Rs 312 crore, expanding margins by 40 bps. In the quarter ended March 31, 2026, the standalone net profit was Rs 47.75 crore, while revenue from operations was Rs 697.55 crore, up 22% YoY. Standalone Q4 EBITDA stood at Rs 87 crore and Operating PBT at Rs 87 crore.

The company recognised exceptional items amounting to Rs 35.31 crore for the full year, primarily comprising an impairment provision of Rs 15.98 crore assessed during the quarter ended March 31, 2026, and a provision of Rs 15.75 crore related to the new Labour Codes notified in November 2025. Additionally, during the quarter ended June 30, 2025, a fee of Rs 3.58 crore was charged on account of non-adherence to land use regulation.

The table below summarises the key standalone financial metrics for the year:

The standalone balance sheet as at March 31, 2026 reflects total assets of Rs 2,282.51 crore, with total equity of Rs 1,618.50 crore. Cash and cash equivalents stood at Rs 140.05 crore, up from Rs 107.99 crore at the end of the previous year. Net cash generated from operating activities was Rs 347.57 crore for the year.

Consolidated Financial Results

On a consolidated basis, Greaves Cotton reported a profit of Rs 35.29 crore for the year ended March 31, 2026, compared to a loss of Rs 6.28 crore in the previous year. Total consolidated revenue from operations increased to Rs 3,436.62 crore from Rs 2,918.44 crore, a growth of 18% YoY. The profit attributable to the owners of the company for the year was Rs 107.14 crore, up from Rs 58.40 crore in the previous year. Consolidated EBITDA for FY26 stood at Rs 239 crore, with Operating PBT at Rs 154 crore, expanding margins by 210 bps.

For the quarter ended March 31, 2026, consolidated revenue from operations stood at Rs 1,000.26 crore compared to Rs 822.83 crore in the same period last year, reflecting 22% YoY growth. Q4 EBITDA improved significantly to Rs 69 crore from Rs 45.70 crore YoY, with EBITDA margin expanding to 6.90% from 5.56%. Q4 consolidated Operating PBT stood at Rs 44 crore. Consolidated cash and cash equivalents rose to Rs 190.93 crore from Rs 135.03 crore, while net cash generated from operating activities stood at Rs 32.58 crore for the year.

The table below presents the key consolidated financial metrics for the year:

Dividend Recommendation

The Board of Directors has recommended a dividend of Rs 2 per share, representing 100% of the face value of Rs 2 each, for the financial year ended March 31, 2026. The total dividend payout is estimated at Rs 46.58 crore. This dividend is subject to the approval of shareholders at the ensuing Annual General Meeting and, if approved, shall be payable within 30 days from the date of the Annual General Meeting.

Greaves Cotton is pursuing a strategic expansion in FY27, with key initiatives spanning new product segments, international markets, and digital retail infrastructure. The company is entering the Small Commercial Vehicle segment while simultaneously targeting new export geographies and building a direct engagement platform for its retail network.

Entry Into The Small Commercial Vehicle Segment

Greaves Cotton is expanding its product portfolio by venturing into the Small Commercial Vehicle segment in FY27. This move marks a significant step in broadening the company's addressable market beyond its existing offerings, positioning it to tap into demand within the commercial mobility space.

New Export Geographies In Focus

Alongside its domestic product expansion, Greaves Cotton is targeting new export areas as part of its FY27 strategy. This international push is aimed at diversifying revenue streams and extending the company's footprint into markets beyond its current export base.

Direct Retail Engagement Platform Under Development

Greaves Cotton is also developing a direct engagement platform designed to strengthen its retail network. The initiative is intended to enhance connectivity and interaction between the company and its retail partners, supporting a more integrated distribution approach in FY27.

Strategic Overview

The following table summarises the key strategic initiatives announced by Greaves Cotton for FY27:

Taken together, these developments indicate that Greaves Cotton is pursuing a diversified growth agenda in FY27, spanning product, geography, and channel dimensions. The simultaneous focus on the SCV segment, export expansion, and retail platform development underscores the company's intent to strengthen its competitive positioning across multiple fronts.