On Monday, Greaves Cotton Limited, one of India’s top diversified engineering companies, reported its highest-ever quarterly consolidated revenues of ₹699 crore for Q2FY23, representing an 87% increase over Q2FY22, reported Business Standard.
Shares of Greaves Cotton scaled over 10 percent in the early trading session on Tuesday, November 15 after the company reported its highest-ever quarterly consolidated revenue of ₹699 crore for the July- September quarter.
The net profit of Greaves Cotton was recorded at ₹28.88 crore in the quartet that ended September 2022 as against the net loss of ₹23.29 crore during the previous quarter that ended September 2021.
In September 2022, EBITDA was Rs. 57.89 crore, indicating an increase of 1529.38 percent from Rs. 4.05 crore in September 2021. Greaves Cotton’s earnings per share (EPS) rose from Rs. 1.01 in September 2021 to Rs. 1.25 in September 2022.
Greaves Cotton Ltd., founded in 1922, is a mid-cap company with a market capitalization of ₹3,449.13 crore functioning in the engineering industry. The company is engaged in the manufacturing of engines, engine applications, and trading of power tillers spares related to engines, electric vehicles, and infrastructure equipment. The company manufactures facilities in the states of Maharashtra and Tamil Nadu.
According to a Mintgenie poll, an average of 4 analysts have a ‘STRONG BUY’ call on the stock. The stock has returned nearly 5 percent to its shareholders in the past six months. However, the stock has shown a decline of 0.39 percent year-to-date. In the last five years, the shares of the company have grown by over 27 percent.
