Greaves Cotton Limited

Karan Thapar

Chairman of the Board, Greaves Cotton

Parag Satpute

Managing Director & Group CEO, Greaves Cotton

Akhila Balachandar

CFO, Greaves Cotton Limited; Mr. Narsimha

K. Vijaya Kumar

ED & CEO, Greaves

Alwan Deivanayagam

Deputy CFO,

rs,

brings an impressive 29 years of leadership experience within the mobility and manufacturing sectors, and we value that expertise in Greaves. We are confident that his leadership will not only accelera

Rs. 15,000 crore

next phase of growth. I might just add that the Greaves Board had set itself a vision to achieve Rs. 15,000 crore topline on a group basis by 2030 through a blend of organic growth and strategic acquisitions and

Rs. 823 crore

Let me now take you through the key highlights, for Q4 FY25, we reported consolidated revenues of Rs. 823 crore with Greaves Cotton's standalone revenue rising by 19% on a year-on-year basis to Rs. 573 crore. E

19%

eported consolidated revenues of Rs. 823 crore with Greaves Cotton's standalone revenue rising by 19% on a year-on-year basis to Rs. 573 crore. Excel Controlinkage, our strategic acquisition, continue

Rs. 573 crore

of Rs. 823 crore with Greaves Cotton's standalone revenue rising by 19% on a year-on-year basis to Rs. 573 crore. Excel Controlinkage, our strategic acquisition, continued to perform exceptionally well, recordin

Rs. 75 crore

age, our strategic acquisition, continued to perform exceptionally well, recording Q4 revenues of Rs. 75 crore, reflecting a 15% year-on-year growth. Our profitability profile improved. Standalone EBITDA for

15%

tion, continued to perform exceptionally well, recording Q4 revenues of Rs. 75 crore, reflecting a 15% year-on-year growth. Our profitability profile improved. Standalone EBITDA for Greaves Cotton was

Rs. 84 crore

year-on-year growth. Our profitability profile improved. Standalone EBITDA for Greaves Cotton was Rs. 84 crore with margin at 14.7%. The combined Q4 EBITDA for Greaves Cotton and Excel is at Rs. 107 crore with

14.7%

ofitability profile improved. Standalone EBITDA for Greaves Cotton was Rs. 84 crore with margin at 14.7%. The combined Q4 EBITDA for Greaves Cotton and Excel is at Rs. 107 crore with margins at 16.4%, hi

Rs. 107 crore

was Rs. 84 crore with margin at 14.7%. The combined Q4 EBITDA for Greaves Cotton and Excel is at Rs. 107 crore with margins at 16.4%, highlighting our improved cost structure and operating leverage. Moving t

16.4%

at 14.7%. The combined Q4 EBITDA for Greaves Cotton and Excel is at Rs. 107 crore with margins at 16.4%, highlighting our improved cost structure and operating leverage. Moving to the full Financial Y

Rs. 2,918 crore

ure and operating leverage. Moving to the full Financial Year 2025, consolidated revenues reached Rs. 2,918 crore, backed by strong contributions across all our business verticals. Standalone revenues for Greaves

“FY25 marks strong growth for Greaves Engineering and Excel, reinforcing our position as a diversified Engineering group.”

“Moving to Greaves Retail, we ended FY25 on a positive note with significant growth in the second half.”

“Looking ahead, we aim to expand in high potential categories and pursue strategic acquisitions, maintaining our asset light tech-driven growth model.”

“Our return on capital employed for FY25 stands at a healthy 19% each, underscoring our capital efficient growth approach.”

“The overall electric two-wheeler industry saw a decline of 8% from Q3 FY25 to Q4 FY25.”

“4 | Greaves Cotton Limited (www.greavescotton.com) GREAVES In terms of annual update, our revenues in FY25 grew by 7.4% year-on-year, driven by volume growth in the e2-wheeler at 10% and L5 segment at 61% year-on-year.”

“Also note our market share increased from 1.2% in FY24 to 3.7% in FY25 in the L5 diesel segment.”

“Sir, given your own longstanding track record and also given Greaves' overall pedigree and lineage, as an outsider coming into the firm, where do you think the firm is in terms of the overall journey and how comfortable you are taking on this target which I think was hit maybe a couple of quarters by the Board of a 6x increase in revenues over the next 6 years.”

“So, should we take it that the fourth quarter is a more sustainable benchmark going forward?”

“So yes, some of the building blocks are beginning to show the green shoots and the results and hopefully the endeavor of the management is to continue on this journey going forward also.”

Each of our core businesses make strong progress

1

Each of our core businesses make strong progress

• Engineering and Retail divisions continue their growth trajectory with revenues growing annually by 14% and 7%, respectively. • The integration of Excel Controlinkage has strengthened our capabilities in motion control systems and components, enabling deeper penetration into key high growth sectors. 3 | Greaves Cotton Limited (www.greavescotton.com) GREAVES Our Electric Mobility division posted revenues of Rs. 659 crore for Financial Year 2025, driven by the launch of new models, improved channel efficiencies and growing consumer demand. As you are aware, our mobility division has filed the DRHP and we await the regulatory approvals. FY25 marks strong growth for Greaves Engineering and Excel, reinforcing our position as a diversified Engineering group. At Greaves Engineering, the non-automotive applications continue to dominate the growth. The Company achieved strong growth in gensets and industrial engines while expanding into sustainable mobility with CNG and showcasing hydrogen te