Greaves Cotton Limited has reported a robust performance in the second quarter (Q2) and first half (H1) of FY26, buoyed by strong growth in its core engineering business and improving margins across operations.
The company’s consolidated revenue rose 16% year-on-year to ₹815 crore in Q2 FY26, while revenue for H1 FY26 reached ₹1,561 crore, also up 16% compared to the previous year. Standalone revenue for the quarter stood at ₹552 crore, marking an 18% year-on-year increase, supported by higher exports and a diversified product portfolio.
Operating efficiencies and cost optimization helped expand standalone EBITDA margins by 160 basis points in Q2 and 210 basis points in H1. For the quarter, standalone EBITDA stood at ₹78 crore, with profit before tax (PBT) of ₹75 crore.
The company’s Engineering Business remained the standout performer, delivering 31% growth in Q2 and 30% growth in H1 year-on-year, driven by strong demand for Euro V+ compliant diesel engines from European OEM partners. The genset segment also recorded a 24% increase, while non-automotive engine applications continued to gain traction.
In the mobility segment, Greaves Electric Mobility registered a 54% rise in electric two-wheeler (E2W) VAHAN volumes, pushing market share up from 3.2% to 4.2%. The electric three-wheeler (L5) segment grew 9% year-on-year, boosted by the launch of the ELTRA City Xtra, which set a record for the longest distance covered by an electric 3-wheeler on a single charge. The Ampere Nexus also made headlines as the first electric scooter to reach Shipki La Pass (13,200 ft), recognized by the India Book of Records.
Commenting on the results, Mr. Parag Satpute, Managing Director and Group CEO of Greaves Cotton Limited, said, Our performance in Q2 FY26 reflects the continued strength, agility, and resilience of our business portfolio. The Engineering division has delivered exceptional growth, driven by customer-centric product development and efficiency improvements. We remain focused on disciplined execution, operational excellence, and prudent capital allocation to drive sustainable value creation.
Looking ahead, Greaves Cotton is gearing up to leverage new opportunities in power solutions, engineering applications, and sustainable mobility, supported by strategic investments in R&D, digitalization, and global market expansion.
The company reaffirmed its long-term vision of becoming a fuel-agnostic, future-ready mobility solutions provider, driven by innovation and sustainability under its mission of “Empowering Lives.”
