Q3 2025 Greaves Cotton Ltd Earnings Call Transcript
Key Points
- Greaves Cotton Ltd (BOM:501455) reported strong financial performance with consolidated revenues of INR751 crores, reflecting a 13% growth in standalone revenues.
- The Electric Mobility Division gained traction, delivering INR184 crores in Q-3, supported by new product launches.
- The company has diversified its revenue streams, with 64% of its business now coming from B2C segments, showcasing a strategic pivot towards customer-centric growth.
- Greaves Cotton Ltd (BOM:501455) maintains a strong financial position with near zero debt and cash reserves of INR503 crore, positioning it well for future growth.
- The company is expanding its product portfolio with new strategic investments in technology development, brand building, and high-growth areas, including electric mobility and fuel-agnostic solutions.
- The Excel control linkage segment experienced a 7% decline in revenue year-on-year, attributed to a flat or tepid OEM industry and export volume reductions.
- The company faces challenges in the electric two-wheeler market, with industry-wide declines impacting sales despite improved product competitiveness.
- There is a dependency on regulatory changes, such as the CPCB four norms for gensets, which require significant product upgrades and can impact market dynamics.
- The hydrogen engine, while a promising concept, is still in the early stages and faces challenges related to hydrogen availability and total cost of ownership.
- The company is navigating a competitive landscape in the CNG engine market, where established players like Bajaj dominate, requiring strategic positioning to increase market share.
Ladies and gentlemen, good day and welcome to the Greaves Cotton Ltd Q-3 and nine months FY '25 earnings call. We have with us today. Mr. Nagesh Basavanhalli, Nonexecutive Vice Chairman, Greaves Cotton, Ms. Akhila Balachandar, CFO Scotland Limited, Dr. Arup Basu, Managing director, Co Limited, Mr. K Vijaya Kumar, ED and CEO Electric Mobility Limited, Mr. Narasimha Jayakumar, CEO Retail, Mr. Chandrashekhar Thyagarajan, CFO, Electric Mobility Limited and Mr. Atindra Basu Group General Council and Company secretary.
We will begin the call with brief opening remarks from the management following which we will have the forum open for an interactive question and answer session. Before we start, I would like to point out that some statements made in today's call may be forward-looking in nature and a disclaimer to this effect has been included in the results presentation shared with you earlier.
Further as you are aware, Greaves Electric Mobility Limited has filed a draft red Herring prospectus with the capital markets regulator SEBI to raise funds through an IPO. All discussions in this call
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