Greaves Cotton slumps after weak Q2 performance

Greaves Cotton tumbled 9.86% to Rs 161.30 after the company reported a consolidated net loss of Rs 14.33 crore in Q2 FY25 as against a net loss of Rs 379.59 crore posted in Q2 FY24.

Income from operations fell by 3% YoY to Rs 705 crore during the quarter.

While EBITDA declined by 50% YoY to Rs 23 crore, EBITDA margin fell by 300 basis points YoY to 3.3% in the second quarter.

Operating profit before tax in Q2 FY25 stood at Rs 6 crore, down by 85% from Rs 40 crore in Q2 FY24.

Akhila Balachandar, chief financial officer, Greaves Cotton, said: "Our Q2 FY25 results underscore the robustness of our diversification strategy and the momentum we are building across our businesses. Our performance in Retail, Engineering, and Excel, alongside the promising growth in Electric Mobility, reflects our agile approach to meeting diverse market demands.

Our fuel-agnostic strategy continues to expand our reach and adaptability, reinforcing our confidence in the path we've charted. This momentum reaffirms our commitment to delivering consistent value for our stakeholders.

Greaves Cotton is a multi-product and multi-location engineering company. The company is a leading name in fuel agnostic powertrain solutions, e-mobility, aftermarket & retail.

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