Greaves Cotton Limited has reported a strong financial performance for the fourth quarter and full financial year ended March 31, 2026, driven by steady growth across its energy, mobility, industrial, and international businesses. The diversified engineering company said its execution-focused strategy under the Greaves.Next initiative helped improve profitability, expand margins, and strengthen its market presence across segments.
During Q4 FY26, the company recorded consolidated revenue of ₹1000 crore, marking a 22% year-on-year growth. EBITDA stood at ₹68 crore, while operating profit before tax reached ₹44 crore. For the full FY26 period, consolidated revenue rose 18% year-on-year to ₹3437 crore, supported by EBITDA of ₹239 crore and operating PBT of ₹154 crore. The company also reported a 210 basis point expansion in operating PBT margins.
On a standalone basis, Greaves Cotton posted revenue of ₹698 crore in Q4 FY26, up 22% from the same period last year. EBITDA and operating PBT both stood at ₹87 crore. For the full year, standalone revenue reached ₹2365 crore, reflecting 19% annual growth. EBITDA for the year stood at ₹320 crore, while operating PBT was ₹312 crore. Operating PBT margins improved by 40 basis points.
Commenting on the results, Managing Director and Group CEO Parag Satpute said FY26 was a defining year for the company as it moved from strategy to execution under the Greaves.Next roadmap. He said the strong growth was supported by healthy demand, improved profitability, and disciplined operations. He added that international business remained a key growth driver, especially in the mobility segment, where the company strengthened partnerships with global OEMs.
The company’s Energy Solutions business continued its strong momentum, registering 17% growth in Q4 FY26 and 20% growth for the full year. Growth was mainly supported by a 35% increase in aftermarket business after integrating sales and service operations.
Mobility Solutions also delivered strong performance, growing 20% during the quarter and 16% during FY26. The segment benefited from rising international demand for Euro V+ compliant diesel engines and strong domestic demand across major end-use industries. Excel Controlinkage, part of the mobility business, expanded into new geographies and added new products and customers despite global macroeconomic challenges.
Industrial Solutions recorded 15% growth in Q4 FY26 and 6% growth for the full year, driven by demand from agriculture, firefighting, and defence applications. International business contribution increased from 9% to 13% of core business revenue during FY26, supported by repeat orders from Europe and other markets.
In the electric mobility segment, Greaves Electric Mobility registered 61,597 E-2W VAHAN registrations during FY26, reflecting 51% annual growth. The company improved its market share to 4.4% and launched the Magnus 6.0 electric scooter. Meanwhile, Greaves Finance expanded its managed assets under management to over ₹521 crore and partnered with brands including Simple, Suzuki, and Ultraviolette.
