Greaves Cotton Limited · NSE:GREAVESCOT
Greaves Cotton — Q4 & FY26 Earnings Presentation
34 slides from Greaves Cotton's earnings presentation, May 6, 2026
Slide 1: Cover letter to stock exchanges: Investor Presentation
06th May, 2026 To, The Manager – Listing The Manager - Listing BSE Limited National Stock Exchange of India Limited BSE Code – 501455 NSE Code - GREAVESCOT Dear Sir / Madam, Subject: Investor Presentation In furtherance to our intimation dated 27th April 2026 and pursuant to Regulation 30 of SEBI (L
Slide 2: Investor Presentation Q4 & Full Year FY26
Investor Presentation Q4 & Full Year FY26
Slide 3: Table of Contents
Table of CONTENTS 1. Company at a Glance 2. Strategic Approach 3. Business Performance 4. Appendix 2
Slide 4: Company at a Glance
Company E& ‘At a glance
Slide 5: Legacy, Reinvented
Legacy, Reinvented 165 Years of Engineering. Now Powering India’s Energy & Mobility Future We have evolved primarily from To a Trusted, Innovative being a pioneer in Future-Ready, Single Product, Engineering Solutions Single Fuel Company Company 4
Slide 6: Greaves for India
Greaves for India Empowering Lives Across Every Mile of India’s Energy & Mobility Journey About our Company Manufacturing & Distribution Footprint Founded in 1859, Transforming into a Core Values One of India’s oldest Future-Ready Mobility & • Transparency engineering companies Engineering Leader •
Slide 7: Greaves: Leveraging Global Partnerships
Greaves: Leveraging Global Partnerships An Indian Company Transitioning its Presence to a Global Footprint With long-standing global OEM relationships, international business remains a core growth engine, contributing a double-digit share across GCL and Excel and supported by a strong presence in di
Slide 8: A Journey of Growth Since 1859
A Journey of Growth Since 1859 Built on Legacy. Driving India Forward 1859 1947 1998 2006 2023 2025 Founded by James Greaves; Became an Indian company Partnered with Piaggio Inaugurated the R&D Acquired Excel Controlinkage, Launched G499W Euro V+ diesel later strengthened by George under industriali
Slide 9: How Greaves is Different
How Greaves is Different What Defines our Uniqueness Legacy backed by strong governance – Over 165 years of expertise in engineering and product development Built on strong governance practices, including transparency, accountability, and ethical conduct. Complete Engineering Solutions Provider– Pro
Slide 10: ESG at the Core
ESG at the Core Growth with Responsibility • Commitment towards environmental sustainability is reflected across all aspects of Greaves’ operations — from manufacturing processes to technological advancements — and is validated through ISO 14001:2015 certification. • Advancing the ‘Go Green’ journey
Slide 11: Strategic Approach
Strategic Approach 10
Slide 12: A New India is Emerging
A New India is Emerging So are New Expectations Aligned with India’s new expectations for SUSTAINABILITY AND ADVANCED MOBILITY STRINGENT EMISSION Capital goods sector, core to Greaves’ business, AND FUEL REGULATIONS CONTRIBUTES ~1.9% OF GDP, like BS VII UNDERSCORING ITS STRATEGIC IMPORTANCE EVOLVING
Slide 13: Our Response – GREAVES.NEXT
Our Response – GREAVES.NEXT Positioned as a Trusted, Future-Ready, Innovative Engineering Solutions Company EXPAND INTO NEW HORIZONS Expand into new segments guided by megatrends and leveraging our core strengths BUILD NEW MUSCLE ON TO THE CORE Build new muscle via new products, capabilities and geo
Slide 14: Multi Year Transformation across Key Focus Areas
Multi Year Transformation across Key Focus Areas Strengthen Enhance Breakout growth in MOBILITY SOLUTIONS INDUSTRIAL ENERGY SOLUTIONS SOLUTIONS GROWTH OFFERING • Pivot from product company to • Deepen OEM collaborations by • Build new, compact platforms solutions provider leveraging manufacturing fo
Slide 15: Way Ahead
Way Ahead The Next Phase* of Transformation Focused on sustained organic growth, Increasing Energy complemented by selective inorganic opportunities Solutions share to Organic Growth Engine make it a dominant part of portfolio 16-20 CAGR % Expanding Beyond India with a focus on increasing Internatio
Slide 16: Greaves Cotton – Business Structure
Greaves Cotton – Business Structure ENERGY SOLUTIONS GREAVES ELECTRIC MOBILITY LTD B2B B2C MOBILITY SOLUTIONS Core Investee Businesses Businesses GREAVES FINANCE LTD INDUSTRIAL SOLUTIONS
Slide 17: Business Performance
Business performance At a glance 16
Slide 18: Corporate Highlights Q4 FY26 and 12M FY26
Corporate Highlights Q4 FY26 and 12M FY26 Realigned the organisation structure as we operationalised the GREAVES.NEXT strategy, with a focus on Energy, Mobility and Industrial Solutions Delivered double-digit revenue growth across businesses owing to strong execution, operational efficiencies and fa
Slide 19: Greaves Cotton – Business Structure
Greaves Cotton – Business Structure Empowering Lives Across Every Mile of India’s Energy & Mobility Journey CORE BUSINESSES INVESTEE BUSINESSES Q4 ₹781 cr. | 12M ₹2665 cr. Q4 ₹698 cr. | 12M ₹2365 cr. Standalone Greaves Electric Greaves Finance Energy Mobility Industrial (GEML) (GFL) CONS. REVENUE^ S
Slide 20: Core Business – Focus Areas
Core Business – 3 Focus Areas ENERGY SOLUTIONS MOBILITY SOLUTIONS INDUSTRIAL SOLUTIONS Partner in India’s growth by providing Anchored in core engineering strengths, Wide range of engines powering a reliable generator solutions, ensuring focused on scalable and adjacent growth various customer appli
Slide 21: Energy Solutions - Sustained Growth
Energy Solutions - Sustained Growth Partner in India’s Industrial and Infrastructure growth Performance Highlights • Continuing transition towards a Solutions company • • Q4 witnessed strong sequential growth quarter with 39% over Q3 Overall business grew by 20% in FY26; while Spares and Service gre
Slide 22: Mobility Solutions - Breakout Growth
Mobility Solutions - Breakout Growth Anchored in Core Engineering Strengths, Focused on Scalable and Adjacent Growth Opportunities Performance Highlights Share of non-3W Diesel engines OE business = 63% in FY26 AUTO ENGINES BUSINESS 59% Revenue • Strong growth across Domestic and Exports markets, gr
Slide 23: Industrial Solutions - Enhanced Growth
Industrial Solutions - Enhanced Growth Capability Across Wide Range of Customer Applications and Engine Sizes Performance Highlights • Steady growth across different customers segments (Marine, and Fire-fighting) for small and large engines 13% • New Agri segment OEMs added Revenue • Started executi
Slide 24: Core Businesses – Q4 & 12M FY26 performance
Core Businesses* – Q4 & 12M FY26 performance Resilience, Recovery, Results Figures in ₹ Cr Revenues +18% EBITDA and margin +20% 120 108 20 104 Ebitda margin 781 100 96 EBITDA Quarterly 660 15 651 16.3% 237 80 14.7% Energy Solutions 202 170 13.3% 60 10 446 40 Mobility Solutions 373 403 5 20 Industria
Slide 25: Our Investee Cos – Complete EV ecosystem
Our Investee Cos – Complete EV ecosystem Greaves Electric Mobility Ltd Greaves Finance Ltd The electric mobility arm of Greaves, stands Brand-agnostic EV lending platform, among the E-Mobility space, designing and powered by digitised and robust manufacturing electric vehicles for over 18 underwriti
Slide 26: Investee Business - GEML
Investee Business - GEML Offering EVs with Proven Performance – an International and 8 National Record Holder PERFORMANCE HIGHLIGHTS Electric Two-Wheeler (E2W) Performance: • As per VAHAN, record volume growth of 51% year-on-year in FY26 – • Successful portfolio ramp-up - Magnus Grand launched in Q3
Slide 27: Investee Business - GEML
Investee Business - GEML Offering EVs with Proven Performance – an International and 8 National Record Holder FY26 ₹ 786 cr. (YoY) 19% Revenue PERFORMANCE HIGHLIGHTS • Ampere Nexus set an Asia Book of Records: The campaign delivered strong digital impact - trended on X, validating Ampere's growing b
Slide 28: Investee Business - GFL
Investee Business - GFL Providing Tech Enabled Smart Financial Solutions for EV Owners PERFORMANCE HIGHLIGHTS • Total Managed AUM at Rs 521 cr; Increase from Rs 441 cr in Dec ‘25 • New OEMs: Signed up with Simple, Suzuki and Ultraviolette. Now live with 11 OEMs. • Insurance. Integration completed wi
Slide 29: Disclaimers
Disclaimers This presentation may include statements of future expectations and other forward-looking statements based on management's current expectations and beliefs concerning future developments and their potential effects upon Greaves Cotton Limited and its subsidiaries/ associates ("Greaves").
Slide 30: Thank You
Thank You Greaves Cotton Adfactors PR Ashish Kale Shubham Sangle ashish.kale@greavescotton.com shubham.sangle@adfactorspr.com Keya Muriya Mohit Upadhyay keya.muriya@greavescotton.com mohit.upadhyay@adfactorspr.com 29
Slide 31: Appendix
Appendix 30
Slide 32: Financial Snapshot
Financial Snapshot Figures in ₹ Cr Particulars (Consolidated) Q4 Growth (%) Q3 Growth (%) Full Year Growth (%) FY26 FY25 Y-o-Y FY26 Q-o-Q FY26 FY25 Y-o-Y Income from Operations 1,000 823 22% 875 14% 3,437 2,918 18% RMC (%) 69.5% 68.9% 66.7% 67.0% 68.1% Other Expenses 237 210 229 895 795 EBITDA 68 46
Slide 33: Balance Sheet
Balance Sheet Figures in ₹ Cr GCL – Consolidated Particulars 31-Mar-25 31-Mar-26 Particulars 31-Mar-25 31-Mar-26 Shareholder's Equity 1406 1431 Fixed Assets & Intangibles 890 939 Non Controlling Interest 180 83 Borrowings 53 326 Inventory & Trade Receivables 670 659 Trade Payables 522 581 Other Non
Slide 34: FY26 Consolidated Revenue Bridges
FY26 Consolidated Revenue Bridges:- Figures in ₹ Cr Bridge 1 : Earlier segments Vs. New Segments Earlier segments Revenues Total Revenues New segments Revenues Total Revenues Energy Solutions - GCL Standalone 742 Engines 1749 Mobility Solutions - GCL Standalone 1,284 Retail 616 Mobility Solutions –E