Greaves Cotton Limited · NSE:GREAVESCOT
Greaves Cotton — Q3 FY26 Earnings Presentation
34 slides from Greaves Cotton's earnings presentation, Feb 6, 2026
Slide 1: Exchange intimation letter: Investor Presentation
06th February, 2026 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 02nd February, 2026 and pursuant to Regulation 30 of SE
Slide 2: Empowering Lives: Investor Presentation Q3 & 9M FY26
Empowering Lives Investor Presentation Q3 & 9M FY26
Slide 3: Legacy, Reinvented
Legacy, Reinvented 165 Years of Engineering. Now Powering India’s Energy & Mobility Future …To a We have evolved primarily from Trusted, Innovative being a pioneer in Future-Ready, Single Product, Engineering Solutions Single Fuel Company Company 2
Slide 4: Table of Contents
Table of CONTENTS 1. Company at a Glance 2. What We Do 3. Strategic Approach 4. Financial Highlights 5. Way Ahead 6. Sustainability Journey 3
Slide 5: Company at a Glance
COMPANY At a glance 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: Strong Leadership
Strong Leadership MR. PARAG SATPUTE MR. VIKAS SINGH MR. P. B. SUNIL KUMAR Managing Director & Group CEO, Managing Director, ED & CEO, Greaves Cotton Ltd. Greaves Electric Mobility Ltd. Greaves Finance Ltd. (MBA, B.E.) (MBA) (Chartered Accountant)) Expertise Expertise Expertise Over 29 years of leade
Slide 11: What We Do
WHAT WE DO 10
Slide 12: Greaves Cotton – Corporate Structure
Greaves Cotton – Corporate Structure Unlocking Synergies Across a Diversified Portfolio ENERGY SOLUTIONS GREAVES ELECTRIC MOBILITY PVT LTD MOBILITY B2B B2C Core Investee SOLUTIONS Businesses Businesses GREAVES FINANCE LIMITED INDUSTRIAL SOLUTIONS 11
Slide 13: Our Business – 3 Focus Areas
Our Business – 3 Focus Areas One Group. Three Core Segments 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
Slide 14: Sustained Growth – Energy Solutions
Sustained Growth – Energy Solutions Partner in India’s Industrial & Infrastructure growth Performance Highlights • Transitioning towards a Solutions company: Building synergies across 27% Sales, Service and Spares. • Growing focus on customer life-time value: Retail Annual Revenue Maintenance Contra
Slide 15: Breakout Growth – Mobility Solutions
Breakout Growth – Mobility Solutions Anchored in Core Engineering Strengths, Focused on Scalable and Adjacent Growth Opportunities Performance Highlights AUTO BUSINESS • Strong quarter w.r.t to engines supply to European OEM (Ligier) RETAIL BUSINES 60% • Exercised strategic choices, trimmed portfoli
Slide 16: Enhanced Growth – Industrial Solutions
Enhanced Growth – Industrial Solutions Capability Across Wide Range of Customer Applications and Engine Sizes Performance Highlights • Secured defence business order for direct supply to Armed 13% Revenue Forces (% of total)* * 9M FY26 figures • Entered into an agreement with European customer to su
Slide 17: Investee Business - GEML
Investee Business - GEML Amongst Leading Player In The EV Technology Industry PERFORMANCE HIGHLIGHTS Electric Two-Wheeler (E2W) Performance: • VAHAN volumes increased 40% quarter-on-quarter in Q3 FY26, to OUR BRANDS more than 18K units • Market share increased from 4.1% in Q2 FY26 to 5.0% in Q3 FY26
Slide 18: Investee Business - GEML
Investee Business - GEML Amongst Leading Player In The EV Technology Industry PERFORMANCE HIGHLIGHTS Three-Wheeler (3W) Performance: OUR BRANDS • L5 VAHAN volumes grew 33% quarter-on-quarter in Q3 FY26 to more than 1,950 units, marking a record quarter for L5 3W business • 3W Diesel L5 sales grew 18
Slide 19: Investee Business - GFL
Investee Business - GFL Providing Tech Enabled Smart Financial Solutions for EV Owners PERFORMANCE HIGHLIGHTS OUR PRODUCTS ▪ As on Dec 2025 - Total managed AUM of ~₹441 crore; cumulative disbursements crossed ~₹640 crore ▪ Onboarded OEM partners including Simple Energy, Suzuki EV, and Ultraviolette
Slide 20: Strategic Approach
STRATEGIC Approach A Future-Ready Engineering Solutions Company - GREAVES.NEXT 19
Slide 21: 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 22: 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 23: 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 24: Greaves for Investors
GREAVES for Investors 23
Slide 25: Greaves Cotton – Corporate Structure (Standalone)
Greaves Cotton – Corporate Structure Empowering Lives Across Every Mile of India’s Energy & Mobility Journey CORE BUSINESSES INVESTEE BUSINESSES Q3 ₹651 cr. | 9M ₹1884 cr. Q3 ₹ 575 cr. | 9M ₹ 1667 cr. Standalone CONS. REVENUE^ Energy Mobility Industrial Greaves Electric Greaves Solutions Solutions S
Slide 26: Core Business – Q3 & 9M Performance at a Glance
Core Business – Q3 & 9M Performance at a Glance Resilience, Recovery, Results Revenues +12% EBITDA and margin +5% 100 92 96 20 89 Ebitda margin 621 651 80 Quarterly 583 15 EBITDA 168 170 60 15.2% 14.8% 14.7% Energy Solutions 161 10 40 20 5 Mobility Solutions 343 373 403 0 0 Q3FY25 Q2FY26 Q3FY26 Indu
Slide 27: Financial Snapshot
Financial Snapshot Particulars (Consolidated) Q3 Growth (%) Q2 Growth (%) 9M Growth (%) (₹ Cr.) FY26 FY25 Y-o-Y FY25 Q-o-Q FY26 FY25 Y-o-Y Income from Operations 875 751 17% 815 7% 2436 2096 16% RMC (%) 66.7% 67.0% 66.2% 66.0% 67.8% Other Expenses 229 208 224 658 585 EBITDA 62 40 57% 52 20% 171 90 9
Slide 28: Leverage Profile – Prudent Capital allocation
Leverage Profile – Prudent Capital allocation Consolidated (₹ Cr.) Mar-25 Sep-25 Dec-25 • GCL Standalone continues to be debt Cash & Cash Equivalent 561 399 518 free entity Short Term Debt 53 - 46 • Debt raised in Investee businesses to Long Term Debt - 142 224 fund their growth Total Debt 53 142 27
Slide 29: Way Ahead
WAY AHEAD 28
Slide 30: Way Ahead
Way Ahead The Next Phase of Transformation Increasing Energy Focused on sustained organic growth, Solutions share to complemented by selective inorganic opportunities make it a dominant part of portfolio Organic Growth Engine Expanding Beyond 16-20 CAGR % India with a focus on increasing Internation
Slide 31: Path Towards Sustainability
Path Towards SUSTAINABILITY 30
Slide 32: 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. • A significant stride in the “Go
Slide 33: 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 34: Thank You
Thank You Greaves Cotton Adfactors PR Ashish Kale Shubham Sangle ashish.kale@greavescotton.com shubham.sangle@adfactorspr.com Keya Muriya Wamika Arora keya.muriya@greavescotton.com wamika.arora@adfactorspr.com 33