By BullScreen Editorial Team 
Greaves Cotton Limited reported strong growth in its Q4 results 2026 and full-year FY26 performance, supported by rising demand across its mobility, energy, and electric vehicle businesses. The company also continued expanding its EV ecosystem under the “GREAVES.NEXT” strategy, positioning itself as a broader engineering and mobility solutions player.
For FY26, the company posted consolidated revenue from operations of ₹3,437 crore, compared to ₹2,918 crore in FY25, marking an 18% year-on-year increase. EBITDA surged 76% to ₹239 crore, while EBITDA margin improved sharply to 7% from 4.7% a year earlier. Operating profit before tax rose 118% to ₹154 crore, reflecting stronger operational efficiency and improved product mix.
The strong Q4 results 2026 performance was backed by growth across all major business segments. The mobility solutions division, which contributed nearly 59% of core revenue, generated ₹1,584 crore in FY26, up 16% year-on-year. The company said diversification into non-three-wheeler diesel engines helped improve business stability, with the category contributing 63% of the original equipment business.
Its energy solutions segment reported revenue of ₹742 crore, rising 20% from the previous year. Demand for CPCB IV+ generator sets and a 35% jump in aftermarket spares and services supported growth in the segment. Industrial solutions revenue increased 6% to ₹339 crore, aided by marine, construction, and firefighting applications. The company also started executing direct defence-related orders for the Armed Forces during FY26.
Investor focus during the Q4 results 2026 announcement also remained on the company’s electric mobility business. Greaves Electric Mobility Ltd recorded revenue of ₹786 crore and achieved 51% volume growth in the electric two-wheeler segment. The company’s market share in the E-2W category expanded to 4.4% from 3.6% last year, placing it among the top six electric two-wheeler manufacturers in India.
Meanwhile, Greaves Finance Ltd expanded its EV financing presence with assets under management reaching ₹521 crore. The finance arm is now partnered with 11 OEMs, including Suzuki and Ultraviolette, for EV lending solutions.
Greaves Cotton also strengthened its balance sheet, with cash and cash equivalents rising to ₹654 crore as of March 2026. The company continued investing in manufacturing and sustainability initiatives, including solar energy generation and women-led production lines, as it aims to scale its integrated mobility and engineering platform further.
| Metric | FY26 | FY25 | Growth |
|---|---|---|---|
| Revenue from Operations | ₹3,437 Cr | ₹2,918 Cr | +18% |
| EBITDA | ₹239 Cr | ₹136 Cr | +76% |
| EBITDA Margin | 7.0% | 4.7% | +230 bps |
| Operating PBT* | ₹154 Cr | ₹71 Cr | +118% |
| Cash & Cash Equivalents | ₹654 Cr | ₹561 Cr | +17% |
| International Revenue Share | 13% | 9% | +4% |
| Business Segment | Revenue | YoY Growth | Key Highlights |
|---|---|---|---|
| Mobility Solutions | ₹1,584 Cr | +16% | Non-3W diesel engines contributed 63% of OE business |
| Energy Solutions | ₹742 Cr | +20% | Aftermarket spares & services jumped 35% |
| Industrial Solutions | ₹339 Cr | +6% | Defence orders execution started in FY26 |
| Greaves Electric Mobility | ₹786 Cr | Strong Growth | E-2W volume growth surged 51% YoY |
| Greaves Finance | ₹39 Cr | Expansion Phase | AUM reached ₹521 Cr |
| Key Indicator | FY26 Update |
|---|---|
| E-2W Market Share | Increased to 4.4% from 3.6% |
| EV Financing Partnerships | 11 OEM partnerships including Suzuki & Ultraviolette |
| Retail Network | 7,000+ outlets |
| Mechanic Network | 20,000+ mechanics |
| Manufacturing Facilities | 9 factories |
| ESG Initiative | 5 million units of solar energy generated annually |
| Workforce Highlight | Shendra motor line operated by 100% women workforce |
| Recognition | India’s Best Workplaces in Manufacturing 2025 |
Source: https://www.bseindia.com/xml-data/corpfiling/AttachLive/8e3499d7-69e7-4e94-9d9b-94ed9879245d.pdf