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Greaves Cotton share price jumped nearly 11% on Friday, October 30, after the company reported its September-quarter results.
Greaves Cotton shares rose as investors looked beyond the sharp fall in reported profit and focused on the company's underlying business growth. The profit decline was largely driven by one-off expenses rather than a broad-based slowdown in operations.
Strong demand across its core businesses, higher revenue and improved operating earnings pointed to continued business momentum. The company's plans to expand overseas, invest in technology and develop higher-value products also helped drive future growth.
The stock gained as much as 10.6% to hit the day's high of ₹207.50. However, the stock remained below its 52-week high of ₹272, recorded in July 2026. Its 52-week low stood at ₹120.05 in March 2026.
Greaves Cotton shares have declined 11% in one month and 12% in three months, although they have gained 23% in six months. Over the past year, the stock has fallen 12%.
Greaves Cotton reported an 81% year-on-year decline in net profit to ₹5 crore for the quarter ended September 30, 2026, compared with ₹26 crore in the corresponding period last year. The decline came amid exceptional expenses totalling ₹32.75 crore during the quarter.
Revenue increased 44.2% year-on-year to ₹1,176 crore from ₹815.5 crore. Earnings before interest, taxes, depreciation and amortisation (EBITDA) rose 41% to ₹74 crore from ₹52.3 crore. However, the EBITDA margin remained largely unchanged at 6.3%, compared with 6.4% in the year-ago quarter.
The exceptional expenses included ₹12.66 crore related to the proposed initial public offering (IPO) of Greaves Electric Mobility Ltd, a material subsidiary of Greaves Cotton. The subsidiary decided not to proceed with the offering amid plans for a rights issue and related regulatory restrictions.
The company also recognised an impairment loss of ₹20.09 crore on goodwill and the brand associated with Bestway Agencies Private Ltd after reassessing their recoverability.
Greaves Cotton said its core businesses recorded 24% year-on-year growth in Q2 FY27 and 20% growth in H1 FY27, reflecting continued momentum across Energy Solutions, Mobility Solutions and Industrial Solutions.
Parag Satpute, MD and Group CEO of Greaves Cotton, said, “Our diversified portfolio enabled us to deliver robust revenue growth while advancing key strategic initiatives across Energy Solutions, Mobility Solutions and Industrial Solutions.”
As per the firm, the firm would continue advancing its GREAVES.NEXT strategy by strengthening its core businesses, expanding customer reach and accelerating product development across Energy Solutions, Mobility Solutions and Industrial Solutions.
The company plans to expand its international presence and invest in technology, exports, engineering capabilities and customer-centric innovation to develop higher-value solutions.
Going forward, Greaves Cotton will prioritise margin recovery, operational excellence and disciplined capital allocation. It aims to enhance product differentiation and value addition through greater engineering content, stronger innovation capabilities and expansion into higher-value applications.
The company will also focus on translating growth momentum into stronger earnings, improved return ratios and long-term shareholder value.
According to Jigar S Patel, Senior Manager - Technical Research, Anand Rathi Share and Stock Brokers Limited, Greaves Cotton has witnessed a sharp recovery in the latest session, gaining nearly 8.5% and closing at ₹202.78.
“From a technical perspective, the stock is currently trading above its 50-day moving average ( ₹200.99) and 200-day EMA ( ₹196.38), indicating some improvement in the near-term trend. The daily RSI has recovered to 52.63 after recently approaching oversold territory, suggesting a revival in buying momentum. However, the MACD remains in negative territory, indicating that the recovery still requires confirmation. Additionally, the Ichimoku cloud may act as an overhead resistance zone. The ₹196–190 zone remains an important support area, while ₹210–220 could pose resistance. We recommend a cautious approach and avoiding aggressive fresh buying until sustained strength emerges,” he suggested.
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
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