Greaves Cotton’s Q2 FY27 net profit fell 81% year‑on‑year to ₹5 crore, the lowest in nine quarters, while the stock ticked 1.77% to ₹184.32 on the NSE.
Revenue climbed 44.2% to ₹1,176 crore, and EBITDA rose 41% to ₹74 crore, but the EBITDA margin stayed flat at 6.3% versus 6.4% in the same period last year.
Q2 saw non‑recurring charges of ₹32.75 crore, including ₹12.66 crore tied to the aborted IPO of Greaves Electric Mobility Ltd and a ₹20.09 crore goodwill impairment on Bestway Agencies, dampening earnings.
Core businesses grew 24% YoY in Q2 FY27 and 20% in H1 FY27, with MD Parag Satpute noting that diversification helped sustain revenue momentum across Energy, Mobility and Industrial segments.
The company reiterated its GREAVES.NEXT plan, prioritising margin recovery, customer expansion and technology investment to lift higher‑value applications, while signalling a disciplined capital allocation path.
Analysts at ICICI Securities expect EBITDA margins to rebound in Q3 as exceptional items clear, but remain cautious about the impact of regulatory constraints on the electric‑mobility arm.