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Greaves Cotton posts highest-ever quarterly consolidated revenue at Rs621 crore; Stock jumps 5.5%

Greaves Cotton Limited, one among India’s main engineering corporations, reported its highest-ever quarterly consolidated income of Rs621 crore for the quarter ended March 31, 2022, representing 19% bounce over Q4FY21.

The corporate reported PBT earlier than distinctive objects of Rs33 crore. The quarter mirrored the robust contribution of recent companies in driving income development with 49% contribution in FY22. The Firm delivers an improved EBITDA for Q4FY22 at Rs41 crore. The Firm reported a consolidated income of Rs1710 crore for FY22, representing a development of 14% over FY21 and EBITDA of Rs27 crore.

The YoY efficiency development is attributable to the corporate’s accelerated growth into the e-mobility enterprise and reorganization of the 2W and 3W e-mobility companies beneath Greaves Electrical Mobility and better income contribution from the auto engines enterprise.

The retail gross sales of E-Mobility enterprise stood at 62,000+ autos for FY 22, up 128% from FY21 of 27,000+ autos. Reasonably priced pricing together with credible know-how stack, security observe document and on-ground after gross sales assist has made Ampere 2W scooters a sexy EV choice for the discerning consumers throughout the nation. The gross sales development was helped by the abating Covid infections and rebounding shopper demand throughout sectors.

The corporate has augmented its manufacturing capability of e-2W by operationalizing the Ranipet plant with the present manufacturing capability of as much as 250,000 autos per yr and increasing the product portfolio with the introduction of Ampere Magnus EX. The corporate has additionally strengthened its presence throughout your complete worth chain of last-mile mobility by launching AutoEVMart, India’s first set of multi-brand EV retail networks.

Commenting on the annual outcomes, Nagesh Basavanhalli, MD and Group CEO, Greaves Cotton Restricted, stated, “The consolidated This autumn outcomes is a transparent affirmation of our enterprise technique to be a number one driver of fresh vitality options within the final mile mobility phase.

At Greaves, we now have been centered on investing in know-how, constructing functionality and capability, constructing empowered groups and creating know-how enabled processes throughout all our enterprise worth chains to ship tangible worth to each our prospects and shareholders. As we glance forward, we’ll proceed to concentrate on additional localizing provide chain ecosystem, robust product innovation, highly effective manufacturers, enhanced bodily and digital distribution community.”

On Friday morning commerce, Greaves Cotton was buying and selling at Rs138.40 per piece larger by 5.61% on the BSE.

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