Greaves Announces Another Quarterly Milestone With Double Digit Revenue and EBITDA Growth
MUMBAI, February 7, 2019 /PRNewswire/ —
- Grows 7th Quarter in a Row
- Revs up Cleantech drive with focus on CNG & EV
Greaves Cotton Limited, one of India’s leading engineering companies, reported revenue growth for Q3 FY19 at 13% to Rs. 506 crore as against Rs. 447 crore in Q3 FY18 (GST comparable numbers).
EBITDA for the quarter ended December 31st, 2018 grew by 14% to Rs. 71 crore as against Rs. 62 crore in the year-ago quarter.
Profit before exceptional items and tax grew by 17% to Rs. 68 crore for the quarter ended December 31st, 2018 as against Rs. 58 crore reported in the corresponding quarter last year.
Profit after tax at Rs. 43 crore in Q3 FY19 (includes exceptional loss Rs. 3.3 cr net of taxes) against Rs. 56 crore in Q3 FY18 (includes income from exceptional income, Rs 15 crore net of taxes).
YTD FY19 (April-December)
YTD FY19 at 12% to Rs. 1460 crore as against Rs. 1306 crore in YTD FY18 (GST comparable numbers).
EBITDA for YTD FY19 ended December 31st, 2018 grew by 11% to Rs. 205 crore as against Rs. 185 crore in the corresponding period last year.
Profit before exceptional items and tax grew by 12% to Rs. 198 crore for the 9 months’ period ended December 31st, 2018 as against Rs. 176 crore reported in the corresponding period last year.
Profit after tax for YTD FY19 Rs. 132 crore (includes exceptional loss Rs. 3.3 cr net of taxes) against Rs. 146 crore in YTD FY19 (includes income from exceptional item, Rs. 23 crore net of taxes).
In spite of inflationary environment across industry, as a result of new initiatives the company has been able to maintain its EBIDTA margin at 14% with focus on responsible technologies with Cleantech BSVI solutions will boost the innovation ecosystem & capabilities in the CNG segment with revolutionary new engine technology.
Commenting on the results, Mr. Nagesh Basavanhalli, MD & CEO said, “Greaves Cotton is pleased to announce the 7th consecutive quarter of profitable growth. Our third quarter financial results are strong and in line with our strategic plan. We are increasing investments in last mile e-mobility solutions, supported by a strong network of 250+ Greaves Retail outlets and 5,000+ spares outlet across the country. We remain committed to creating lasting value with clean technology solutions and emerge as a trusted partner to all our stakeholders.”
About Greaves Cotton
Greaves Cotton Limited, a Rs. 1,800 crore, multi-product, multi-locational company is one of the leading engineering companies in India with core competencies in fuel agnostic powertrain solutions and services, farm equipment and Gensets. The Company sustains its leadership through six manufacturing units which produce world class products backed by comprehensive spares and service through its 5,000 plus service outlets across India. It also manufactures approximately 400,000 engines annually at their plants in Pune, Aurangabad and Ranipet. This segment provides the most affordable mobility solutions to the majority of population in India, moving more than 1 crore passengers and 5 lakh tonnes of cargo every day. More at http://www.greavescotton.com.
Mr. Ashok Jaiswar
General Manager – Marketing & Corporate Communication
Greaves Cotton Limited