India's Richest People 2026 edition · 1 director · Source: Hurun India
- #425 Karan Thapar ₹8,800 Cr
Market Cap
₹4,475 Cr
GREAVESCOT · NSE
Share Price
₹183.52
-4.46% today
Revenue
₹3,437 Cr
FY 2025-26 · +17.8% YoY
EBITDA
₹200 Cr
Margin 5.8%
Net Profit
₹115 Cr
FY 2025-26 · +104.1% YoY
P/E (TTM)
45.3x
P/B 3.2x
ROE
3.0%
ROCE 10.3%
Debt / Equity
0.17
Interest cover 28.6x
About Greaves Cotton Limited
Data last updated:
Greaves Cotton Limited is a public limited company based in Aurangabad, Maharashtra, India, a subsidiary of Dbh Investment Capital India Private Limited. It operates in the electrical and bio fuel vehicles segment of the automotive sector. It was incorporated on 29 March 1922 and has been in existence for over 104 years.
Its director Karan Thapar is #425 among India's richest people (2026).
The company is registered with the Registrar of Companies (ROC), Mumbai, under CIN L99999MH1922PLC000987. Its GSTIN is 27AAACG2062M1ZL (Maharashtra). The company holds 23 GST registrations, of which 20 are active. It is a listed company as per MCA records. Its shares are listed on BSE: 501455 and NSE: GREAVESCOT.
The company has an authorised share capital of ₹75 Cr and a paid-up capital of ₹46.59 Cr. It was formerly known as Greaves Cotton & Co Limited. It is led by directors including Parag Parshuram Satpute (Managing Director) and Ravi Moti Kirpalani.
Its last annual general meeting (AGM) was held on 30 July 2025, and its latest financial statements are for the year ended 31 March 2026. The registered office is at J – 2 MIDC Industrial Area Chikalthana, Aurangabad, Maharashtra, India – 431210.
As per the latest consolidated financials for FY 2025-26, the company reported a revenue of ₹3,436.62 Cr, a growth of 17.8% compared to the previous year. For the same year it recorded a net profit of ₹114.94 Cr (net margin 3.3%) and EBITDA of ₹199.76 Cr (EBITDA margin 5.8%). The net worth stands at ₹1,430.72 Cr (up 1.8% YoY). Total assets are valued at ₹2,002.55 Cr (up 14.2% YoY).
The company has about 381 employees on its provident fund (EPFO) records. Its group structure includes 6 subsidiaries.
The company is associated with 8 brands, including AutoEVMart, Greaves Finance, Primepower Engineering, Evfin, Ampere Vehicles and others. As per MCA filings, the company has open charges of ₹83 Cr and satisfied charges of ₹634.95 Cr on record. Court records list 666 cases involving the company, including 359 filed by the company and 309 filed against it; 123 cases are pending. The company has 50 deals on record (47 market trades, 2 secondary share transfers, 1 funding round), with disclosed funding of ₹12.16 Cr; the latest was in September 2025. Its 5 peer companies in the Automobiles industry (Cotton, Electric and Bio Fuel Vehicles, Industrial Products Manufacturers), with the same principal business activity (electrical equipment, general purpose and special purpose machinery & equipment, transport equipment) are compared by revenue, 3 larger and 2 smaller; the largest is Paharpur Cooling Towers Ltd with revenue of ₹4,001.26 Cr. The company has 31 MSME Form 1 returns on record between 2014 and 2024, listing 1,303 overdue payments to 162 micro and small suppliers.
The current compliance status is marked as compliant by the Registrar of Companies. For more details, the company can be reached via its website greavescotton.com.
Company details
CIN L99999MH1922PLC000987
Registration Number 000987
Incorporation Date 29 March 1922
ROC Mumbai
Listing Status Listed - Listed on NSE (GREAVESCOT); Listed on BSE (501455)
Company Status Active
Date of Last AGM 30 July 2025
Date of Balance Sheet 31 March 2026
Parent Company Dbh Investment Capital India Private Limited
Compliance Status Active Compliant
CIN history
Greaves Cotton has one previous CIN (Corporate Identification Number): U99999MH1922PLC000987. The current CIN is L99999MH1922PLC000987, which is the unique identifier assigned by the Registrar of Companies.
| CIN | Status |
|---|---|
| L99999MH1922PLC000987 | Current |
| U99999MH1922PLC000987 | Previous |
Key People
Parag Parshuram Satpute Managing Director Ravi Moti Kirpalani Director Karan Thapar Director Recognitions & Rankings of Greaves Cotton
Contact details
Greaves Cotton Limited's registered office is in Aurangabad, Maharashtra. Its website is greavescotton.com. Its e-mail address and telephone number are in the company report.
- Email
- Telephone
- Website
- Social Media
- Registered AddressJ – 2 MIDC Industrial Area Chikalthana, Aurangabad, Maharashtra, India – 431210
- IndustryAutomotive, Electrical and Bio Fuel Vehicles
To see the full contact details of Greaves Cotton Limited, buy the company report.
Comprehensive company report
Greaves Cotton Limited - one report that includes everything
- Company details, directors and signatories
- Historical financials and ratios
- Shareholding pattern and group structure
- Charges with holder and property details
- Legal cases, compliance and MCA filings
₹799 ₹999 20% off excluding 18% GST
Secure checkout · GST invoice included
Brands
Greaves Cotton operates multiple associated brands including AutoEVMart, Greaves Finance, and Primepower Engineering. Each brand links to its own profile.
| Brand | Description | Website |
|---|---|---|
| A multi-brand retail store offering curated electric vehicles for a sustainable future. | autoevmart.com | |
| Offers personalized finance solutions for electric vehicle purchases and ownership in India. | greavesfinance.com | |
| Manufactures solar-powered products, including panels and energy systems. | primepowereng.com | |
| Offers tailored financing solutions for electric vehicle purchases and ownership. | evfin.co | |
| Platform offering electric mobility solutions | amperevehicles.com | |
| Manufacturer of electric two and three-wheelers for personal and commercial use | greaveselectricmobility.com | |
| Mobility solutions, internal combustion engines, and engineering products are manufactured. | greavescotton.com | |
| Motion control systems and components are manufactured for diverse industries. | excelcontrolinkage.com |
Business activity
The main business activity of Greaves Cotton is manufacturing. In detail, this covers electrical equipment, general purpose and special purpose machinery & equipment, transport equipment.
| Main activity group code | Main activity | Business activity code | Business activity | Share of turnover |
|---|---|---|---|---|
| C | Manufacturing | C10 | Electrical equipment, General Purpose and Special purpose Machinery & equipment, Transport equipment |
To see the full business activity and turnover split of Greaves Cotton Limited, buy the company report.
Financials of Greaves Cotton Limited
FY 2025-26 filings availableGreaves Cotton Limited reported revenue of ₹3,436.62 Cr (up 17.8% YoY) for FY 2025-26.
Financial Highlights
FY 2025-26 · ConsolidatedRevenue
₹3,437 Cr
+17.8% YoY
EBITDA
₹200 Cr
+52.1% YoY
Profit After Tax
₹115 Cr
+104.0% YoY
Net Worth
₹1,431 Cr
+1.8% YoY
Total Assets
₹2,003 Cr
+14.2% YoY
Total Debt
₹394 Cr
+385.5% YoY
Revenue vs Net Profit ₹ Cr
Margin trends
Financial summary ₹ Cr
| Metrics | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Income statement | |||||||
| Revenue | 3,437 | 2,918 | 2,633 | 2,699 | 1,710 | 1,500 | 1,911 |
| Revenue growth | +17.8% | +10.8% | -2.5% | +57.9% | +14.0% | -21.5% | - |
| EBITDA | 200 | 131 | (404) | 109 | 10.06 | 36.84 | 204 |
| EBITDA margin | +5.8% | +4.5% | -15.3% | +4.0% | +0.6% | +2.5% | +10.7% |
| Profit before tax | 115 | 72.50 | (273) | 113 | (19.33) | (13.79) | 169 |
| Net profit | 115 | 56.33 | 299 | 85.25 | (34.83) | 35.01 | 123 |
| Net profit margin | +3.3% | +1.9% | +11.3% | +3.2% | -2.0% | +2.3% | +6.5% |
| EPS (₹) | 4.60 | 2.51 | (5.83) | 3.37 | (1.52) | (0.81) | 5.59 |
| Balance sheet | |||||||
| Total assets | 2,003 | 1,754 | 1,793 | 2,015 | 1,030 | 826 | 853 |
| Net worth | 1,431 | 1,406 | 1,440 | 1,587 | 749 | 783 | 799 |
| Total debt | 394 | 81.24 | 80.75 | 28.26 | 257 | 20.25 | 27.98 |
| Cash & bank | 564 | 428 | 314 | 541 | 100 | 280 | 190 |
| Net working capital | 818 | 576 | 401 | 1,260 | 133 | 269 | 324 |
| Cash flow | |||||||
| Cash from operations | 32.58 | (22.52) | (153) | (135) | (56.28) | 147 | 102 |
| Cash from investing | (99.46) | 126 | 246 | (758) | (238) | (108) | 255 |
| Cash from financing | 123 | (116) | (32.01) | 889 | 210 | (19.99) | (241) |
| Particulars | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 974 | 1,000 | 875 | 815 | 745 | 823 | 751 | 705 |
| Revenue growth (YoY) | +30.7% | +21.6% | +16.6% | +15.6% | +16.5% | - | - | - |
| Other income | 10.94 | 13.10 | 8.42 | 10.43 | 18.04 | 12.28 | 17.81 | 13.78 |
| EBITDA | 56.33 | 52.19 | 42.86 | 48.30 | 56.41 | 45.74 | 39.67 | 18.73 |
| EBITDA margin | +5.8% | +5.2% | +4.9% | +5.9% | +7.6% | +5.6% | +5.3% | +2.7% |
| Depreciation | 28.21 | 27.68 | 27.60 | 26.95 | 26.56 | 25.27 | 25.73 | 26.43 |
| Interest | 12.01 | 9.98 | 6.37 | 4.83 | 4.87 | 5.92 | 3.15 | 4.27 |
| Profit before tax | 27.05 | 27.63 | 17.31 | 26.95 | 43.02 | 26.83 | 28.60 | 1.81 |
| Tax | 20.89 | 25.43 | 11.39 | 20.63 | 22.17 | 25.30 | 21.92 | 16.14 |
| Net profit | 6.16 | 2.20 | 5.92 | 6.32 | 20.85 | 1.53 | 6.68 | (14.33) |
| EPS (₹) | 1.10 | 0.96 | 1.09 | 1.11 | 1.42 | 1.03 | 0.89 | 0.14 |
| Metrics | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Income statement | |||||||
| Revenue | 2,365 | 1,988 | 1,779 | 1,550 | 1,178 | 1,329 | 1,821 |
| Revenue growth | +18.9% | +11.8% | +14.8% | +31.6% | -11.4% | -27.0% | - |
| EBITDA | 284 | 256 | 215 | 134 | 30.10 | 54.07 | 222 |
| EBITDA margin | +12.0% | +12.9% | +12.1% | +8.7% | +2.6% | +4.1% | +12.2% |
| Profit before tax | 277 | 250 | 366 | 161 | 39.27 | 18.47 | 197 |
| Net profit | 226 | 188 | 176 | 110 | 22.67 | 8.42 | 107 |
| Net profit margin | +9.6% | +9.5% | +9.9% | +7.1% | +1.9% | +0.6% | +5.9% |
| EPS (₹) | 8.59 | 7.99 | 12.26 | 4.97 | 1.17 | 0.45 | 6.38 |
| Balance sheet | |||||||
| Total assets | 1,757 | 1,549 | 1,365 | 1,080 | 968 | 933 | 928 |
| Net worth | 1,618 | 1,455 | 1,314 | 1,046 | 930 | 901 | 888 |
| Total debt | 53.81 | 13.80 | 18.96 | 17.30 | 20.47 | 11.45 | 15.37 |
| Cash & bank | 417 | 336 | 216 | 39.36 | 78.04 | 276 | 188 |
| Net working capital | 438 | 464 | 455 | 419 | 35.13 | 283 | 312 |
| Cash flow | |||||||
| Cash from operations | 348 | 112 | 184 | 141 | 24.26 | 172 | 120 |
| Cash from investing | (171) | 139 | (90.78) | (164) | (115) | (146) | 234 |
| Cash from financing | (144) | (243) | (27.48) | (10.76) | (11.69) | (9.83) | (238) |
| Particulars | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 629 | 698 | 575 | 552 | 541 | 573 | 502 | 468 |
| Revenue growth (YoY) | +16.4% | +21.7% | +14.5% | +18.0% | +21.5% | - | - | - |
| Other income | 11.18 | 13.33 | 9.17 | 9.68 | 12.85 | 9.39 | 11.00 | 9.71 |
| Total expenses | 559 | 626 | 512 | 477 | 465 | 489 | 436 | 413 |
| EBITDA | 70.85 | 71.51 | 62.56 | 74.51 | 75.83 | 84.31 | 66.55 | 54.60 |
| EBITDA margin | +11.3% | +10.3% | +10.9% | +13.5% | +14.0% | +14.7% | +13.3% | +11.7% |
| Depreciation | 14.02 | 13.13 | 12.69 | 12.03 | 11.78 | 10.47 | 11.27 | 12.10 |
| Interest | 1.01 | 1.01 | 0.67 | 0.63 | 0.52 | 0.29 | 0.37 | 0.37 |
| Profit before tax | 67.00 | 70.70 | 58.37 | 71.53 | 76.38 | 82.94 | 65.91 | 51.84 |
| Tax | 17.16 | 22.95 | 15.27 | 18.94 | 19.74 | 21.13 | 16.96 | 13.28 |
Financial Statements
Figures in ₹ Cr; negatives in brackets. Updated 24 Oct 2026
| Particulars | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 974 | 1,000 | 875 | 815 | 745 | 823 | 751 | 705 |
| Revenue growth (YoY) | +30.7% | +21.6% | +16.6% | +15.6% | +16.5% | - | - | - |
| Other income | 10.94 | 13.10 | 8.42 | 10.43 | 18.04 | 12.28 | 17.81 | 13.78 |
| EBITDA | 56.33 | 52.19 | 42.86 | 48.30 | 56.41 | 45.74 | 39.67 | 18.73 |
| EBITDA margin | +5.8% | +5.2% | +4.9% | +5.9% | +7.6% | +5.6% | +5.3% | +2.7% |
| Depreciation | 28.21 | 27.68 | 27.60 | 26.95 | 26.56 | 25.27 | 25.73 | 26.43 |
| Interest | 12.01 | 9.98 | 6.37 | 4.83 | 4.87 | 5.92 | 3.15 | 4.27 |
| Profit before tax | 27.05 | 27.63 | 17.31 | 26.95 | 43.02 | 26.83 | 28.60 | 1.81 |
| Tax | 20.89 | 25.43 | 11.39 | 20.63 | 22.17 | 25.30 | 21.92 | 16.14 |
| Net profit | 6.16 | 2.20 | 5.92 | 6.32 | 20.85 | 1.53 | 6.68 | (14.33) |
| EPS (₹) | 1.10 | 0.96 | 1.09 | 1.11 | 1.42 | 1.03 | 0.89 | 0.14 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Revenue | 3,437 | 2,918 | 2,633 | 2,699 | 1,710 | 1,500 | 1,911 |
| Revenue growth | +17.8% | +10.8% | -2.5% | +57.9% | +14.0% | -21.5% | - |
| Other income | 49.99 | 60.93 | 224 | 72.04 | 34.68 | 16.73 | 30.92 |
| Total expenses | 3,237 | 2,787 | 3,037 | 2,590 | 1,700 | 1,464 | 1,707 |
| Employee cost | 382 | 333 | 317 | 218 | 176 | 148 | 181 |
| EBITDA | 200 | 131 | (404) | 109 | 10.06 | 36.84 | 204 |
| EBITDA margin | +5.8% | +4.5% | -15.3% | +4.0% | +0.6% | +2.5% | +10.7% |
| Depreciation | 109 | 103 | 84.39 | 56.68 | 58.73 | 60.43 | 60.94 |
| Interest | 26.05 | 16.28 | 9.23 | 11.69 | 5.34 | 6.93 | 5.07 |
| Profit before tax | 115 | 72.50 | (273) | 113 | (19.33) | (13.79) | 169 |
| Tax | 79.62 | 78.78 | 94.17 | 43.06 | 15.97 | 4.99 | 41.72 |
| Net profit | 115 | 56.33 | 299 | 85.25 | (34.83) | 35.01 | 123 |
| Net profit margin | +3.3% | +1.9% | +11.3% | +3.2% | -2.0% | +2.3% | +6.5% |
| EPS (₹) | 4.60 | 2.51 | (5.83) | 3.37 | (1.52) | (0.81) | 5.59 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Equity & liabilities | |||||||
| Share capital | 46.58 | 46.50 | 46.40 | 46.33 | 46.30 | 46.24 | 46.24 |
| Reserves & surplus | 1,384 | 1,359 | 1,394 | 1,540 | 703 | 736 | 753 |
| Shareholders' funds (net worth) | 1,431 | 1,406 | 1,440 | 1,587 | 749 | 783 | 799 |
| Minority interest | 83.30 | 180 | 234 | 381 | 0.00 | 0.00 | 0.00 |
| Secured loans | 222 | 10.59 | 3.82 | 3.11 | 53.20 | 2.97 | 0.00 |
| Unsecured loans | 173 | 70.65 | 76.93 | 25.15 | 204 | 17.28 | 27.98 |
| Total debt | 394 | 81.24 | 80.75 | 28.26 | 257 | 20.25 | 27.98 |
| Total liabilities | 2,003 | 1,754 | 1,793 | 2,015 | 1,030 | 826 | 853 |
| Assets | |||||||
| Gross block | 1,402 | 1,313 | 1,197 | 666 | 639 | 639 | 618 |
| Net block | 875 | 846 | 825 | 369 | 364 | 372 | 380 |
| Capital work in progress | 64.09 | 43.31 | 62.67 | 82.56 | 81.62 | 74.95 | 68.57 |
| Investments | 66.55 | 121 | 157 | 123 | 16.38 | 0.51 | 2.83 |
| Inventories | 314 | 336 | 276 | 215 | 193 | 175 | 194 |
| Sundry debtors | 345 | 334 | 236 | 166 | 186 | 209 | 255 |
| Cash & bank balances | 564 | 428 | 314 | 541 | 100 | 280 | 190 |
| Loans & advances | 454 | 238 | 203 | 1,040 | 258 | 58.77 | 72.07 |
| Total current assets | 1,677 | 1,335 | 1,030 | 1,963 | 738 | 723 | 711 |
| Total current liabilities | 859 | 760 | 629 | 703 | 605 | 454 | 387 |
| Net working capital | 818 | 576 | 401 | 1,260 | 133 | 269 | 324 |
| Total assets | 2,003 | 1,754 | 1,793 | 2,015 | 1,030 | 826 | 853 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Opening cash | 135 | 148 | 86.43 | 90.68 | 175 | 156 | 40.14 |
| Net cash from operating activities | 32.58 | (22.52) | (153) | (135) | (56.28) | 147 | 102 |
| Net cash from investing activities | (99.46) | 126 | 246 | (758) | (238) | (108) | 255 |
| Net cash from financing activities | 123 | (116) | (32.01) | 889 | 210 | (19.99) | (241) |
| Net change in cash | 55.90 | (12.79) | 61.39 | (4.25) | (84.38) | 19.27 | 116 |
| Closing cash | 564 | 428 | 314 | 541 | 100 | 280 | 190 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Growth | |||||||
| Sales growth | +17.8% | +10.8% | -2.5% | +57.9% | +14.0% | -21.5% | - |
| EBITDA growth | +52.1% | +132.5% | -469.9% | +984.9% | -72.7% | -82.0% | - |
| PBT growth | +58.5% | +9998.0% | - | +9998.0% | -40.2% | - | -29.6% |
| Net income growth | +104.1% | -81.1% | +250.4% | +344.8% | -199.5% | -71.6% | - |
| Revenue CAGR (3Y) | +8.4% | +19.5% | +20.6% | +12.2% | -5.3% | -5.8% | +5.4% |
| EBITDA CAGR (3Y) | +22.3% | +135.5% | - | -18.8% | -65.8% | -47.5% | -3.8% |
| Profitability & leverage | |||||||
| Net income margin | +1.0% | -0.2% | -14.0% | +2.6% | -2.1% | -1.3% | +6.7% |
| Return on capital employed | +10.3% | +5.7% | +4.4% | +10.3% | -1.2% | +3.3% | +18.8% |
| Return on net worth | +3.0% | -0.4% | +4.4% | +6.6% | -4.6% | +4.4% | +14.4% |
| Debt / equity | 0.17 | 0.06 | 0.04 | 0.12 | 0.18 | 0.03 | 0.02 |
| Long-term debt / equity | 0.09 | 0.01 | 0.01 | 0.09 | 0.13 | 0.02 | 0.01 |
| Interest cover | 28.64 | 58.46 | -1.89 | 22.28 | -10.97 | -29.38 | 3.54 |
| Efficiency & per share | |||||||
| Fixed asset turnover | 2.53 | 2.32 | 2.83 | 4.14 | 2.68 | 2.39 | 3.37 |
| Inventory turnover | 10.58 | 9.54 | 10.72 | 13.22 | 9.29 | 8.13 | 11.65 |
| Debtors turnover | 10.12 | 10.22 | 13.08 | 15.32 | 8.65 | 6.47 | 6.40 |
| EPS (₹) | 4.60 | 2.51 | (5.83) | 3.37 | (1.52) | (0.81) | 5.59 |
| Dividend per share (₹) | 2.00 | 2.00 | 2.00 | 0.90 | 0.20 | 0.20 | 0.00 |
| Book value per share (₹) | 61.43 | 60.46 | 62.08 | 68.49 | 32.37 | 33.85 | 34.55 |
| Particulars | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 629 | 698 | 575 | 552 | 541 | 573 | 502 | 468 |
| Revenue growth (YoY) | +16.4% | +21.7% | +14.5% | +18.0% | +21.5% | - | - | - |
| Other income | 11.18 | 13.33 | 9.17 | 9.68 | 12.85 | 9.39 | 11.00 | 9.71 |
| Total expenses | 559 | 626 | 512 | 477 | 465 | 489 | 436 | 413 |
| EBITDA | 70.85 | 71.51 | 62.56 | 74.51 | 75.83 | 84.31 | 66.55 | 54.60 |
| EBITDA margin | +11.3% | +10.3% | +10.9% | +13.5% | +14.0% | +14.7% | +13.3% | +11.7% |
| Depreciation | 14.02 | 13.13 | 12.69 | 12.03 | 11.78 | 10.47 | 11.27 | 12.10 |
| Interest | 1.01 | 1.01 | 0.67 | 0.63 | 0.52 | 0.29 | 0.37 | 0.37 |
| Profit before tax | 67.00 | 70.70 | 58.37 | 71.53 | 76.38 | 82.94 | 65.91 | 51.84 |
| Tax | 17.16 | 22.95 | 15.27 | 18.94 | 19.74 | 21.13 | 16.96 | 13.28 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Revenue | 2,365 | 1,988 | 1,779 | 1,550 | 1,178 | 1,329 | 1,821 |
| Revenue growth | +18.9% | +11.8% | +14.8% | +31.6% | -11.4% | -27.0% | - |
| Other income | 45.03 | 41.73 | 194 | 66.92 | 53.56 | 18.44 | 30.60 |
| Total expenses | 2,080 | 1,732 | 1,564 | 1,416 | 1,147 | 1,275 | 1,599 |
| Employee cost | 194 | 177 | 148 | 121 | 137 | 133 | 167 |
| EBITDA | 284 | 256 | 215 | 134 | 30.10 | 54.07 | 222 |
| EBITDA margin | +12.0% | +12.9% | +12.1% | +8.7% | +2.6% | +4.1% | +12.2% |
| Depreciation | 49.63 | 45.69 | 41.01 | 38.10 | 42.43 | 48.41 | 52.17 |
| Interest | 2.83 | 1.69 | 1.77 | 2.11 | 1.96 | 5.63 | 3.84 |
| Profit before tax | 277 | 250 | 366 | 161 | 39.27 | 18.47 | 197 |
| Tax | 76.91 | 64.11 | 81.36 | 45.62 | 12.19 | 8.11 | 49.16 |
| Net profit | 226 | 188 | 176 | 110 | 22.67 | 8.42 | 107 |
| Net profit margin | +9.6% | +9.5% | +9.9% | +7.1% | +1.9% | +0.6% | +5.9% |
| EPS (₹) | 8.59 | 7.99 | 12.26 | 4.97 | 1.17 | 0.45 | 6.38 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Equity & liabilities | |||||||
| Share capital | 46.58 | 46.50 | 46.40 | 46.33 | 46.30 | 46.24 | 46.24 |
| Reserves & surplus | 1,572 | 1,409 | 1,268 | 999 | 883 | 855 | 842 |
| Shareholders' funds (net worth) | 1,618 | 1,455 | 1,314 | 1,046 | 930 | 901 | 888 |
| Secured loans | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Unsecured loans | 53.81 | 13.80 | 18.96 | 17.30 | 20.47 | 11.45 | 15.37 |
| Total debt | 53.81 | 13.80 | 18.96 | 17.30 | 20.47 | 11.45 | 15.37 |
| Total liabilities | 1,757 | 1,549 | 1,365 | 1,080 | 968 | 933 | 928 |
| Assets | |||||||
| Gross block | 608 | 551 | 511 | 438 | 455 | 512 | 531 |
| Net block | 315 | 259 | 257 | 210 | 230 | 267 | 306 |
| Capital work in progress | 46.74 | 31.62 | 23.47 | 74.00 | 78.36 | 73.80 | 68.57 |
| Investments | 758 | 664 | 488 | 210 | 177 | 177 | 177 |
| Inventories | 197 | 205 | 138 | 154 | 140 | 155 | 171 |
| Sundry debtors | 285 | 286 | 201 | 160 | 178 | 203 | 239 |
| Cash & bank balances | 417 | 336 | 216 | 39.36 | 78.04 | 276 | 188 |
| Loans & advances | 65.17 | 55.53 | 294 | 492 | 52.91 | 45.03 | 75.15 |
| Total current assets | 964 | 882 | 849 | 845 | 448 | 679 | 673 |
| Total current liabilities | 525 | 418 | 395 | 426 | 413 | 396 | 362 |
| Net working capital | 438 | 464 | 455 | 419 | 35.13 | 283 | 312 |
| Total assets | 1,757 | 1,549 | 1,365 | 1,080 | 968 | 933 | 928 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Opening cash | 108 | 100 | 34.38 | 68.42 | 171 | 154 | 38.41 |
| Net cash from operating activities | 348 | 112 | 184 | 141 | 24.26 | 172 | 120 |
| Net cash from investing activities | (171) | 139 | (90.78) | (164) | (115) | (146) | 234 |
| Net cash from financing activities | (144) | (243) | (27.48) | (10.76) | (11.69) | (9.83) | (238) |
| Net change in cash | 32.06 | 7.98 | 65.63 | (34.04) | (102) | 16.20 | 116 |
| Closing cash | 417 | 336 | 216 | 39.36 | 78.04 | 276 | 188 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Growth | |||||||
| Sales growth | +18.9% | +11.8% | +14.8% | +31.6% | -11.4% | -27.0% | - |
| EBITDA growth | +11.3% | +19.1% | +60.1% | +345.2% | -44.3% | -75.7% | - |
| PBT growth | +10.8% | -31.7% | +127.6% | +309.3% | +112.6% | -90.6% | -20.2% |
| Net income growth | +20.1% | +7.0% | +60.2% | +384.1% | +169.2% | -92.1% | - |
| Revenue CAGR (3Y) | +15.1% | +19.1% | +10.2% | -5.2% | -16.0% | -9.5% | +3.7% |
| EBITDA CAGR (3Y) | +28.5% | +104.0% | +58.3% | -15.5% | -50.9% | -40.3% | -1.1% |
| Profitability & leverage | |||||||
| Net income margin | +8.5% | +9.4% | +16.0% | +7.4% | +2.3% | +0.8% | +8.1% |
| Return on capital employed | +19.1% | +17.3% | +18.6% | +15.9% | +3.6% | +6.3% | +14.7% |
| Return on net worth | +14.7% | +13.4% | +14.9% | +11.7% | +2.5% | +0.9% | +11.5% |
| Debt / equity | 0.02 | 0.01 | 0.02 | 0.02 | 0.02 | 0.01 | 0.01 |
| Long-term debt / equity | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 |
| Interest cover | 1.21 | 0.80 | 1.02 | 2.20 | -15.90 | 99.47 | 2.26 |
| Efficiency & per share | |||||||
| Fixed asset turnover | 4.08 | 3.75 | 3.75 | 3.47 | 2.44 | 2.55 | 3.77 |
| Inventory turnover | 11.77 | 11.58 | 12.18 | 10.55 | 8.00 | 8.15 | 12.72 |
| Debtors turnover | 8.29 | 8.17 | 9.85 | 9.18 | 6.19 | 6.02 | 6.33 |
| EPS (₹) | 8.59 | 7.99 | 12.26 | 4.97 | 1.17 | 0.45 | 6.38 |
| Dividend per share (₹) | 2.00 | 2.00 | 2.00 | 0.90 | 0.20 | 0.20 | 0.00 |
| Book value per share (₹) | 69.49 | 62.59 | 56.64 | 45.13 | 40.16 | 38.97 | 38.42 |
To see the full year-wise statements and ratios of Greaves Cotton Limited, buy the company report.
Board of directors of Greaves Cotton Limited
Greaves Cotton has 7 current directors and 33 former directors. Current directors are listed first, with their designation and appointment date.
Current Directors
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Ravi Moti Kirpalani | Director | 12 May 2022 | 4 Years 5 Months | Current |
| Karan Thapar Also directs: Premium Transmission Limited, Eicl Limited, DBH Investment Capital India Private Limited and 1 more | Director | 29 Sep 1991 | 35 Years 0 Months | Current |
| Raja Venkataraman | Director | 09 Feb 2023 | 3 Years 8 Months | Current |
| Jehangir Ardeshir Also directs: Premium Transmission Limited, Cyient DLM Limited, Walchand Peoplefirst Limited and 1 more | Director | 01 Aug 2025 | 1 Years 2 Months | Current |
| Parag Parshuram Satpute | Managing Director | 14 Apr 2025 | 1 Years 6 Months | Current |
| Kavita Nair | Director | 23 Jan 2025 | 1 Years 9 Months | Current |
Showing 6 of 7 current directors. View all directors
Peer comparison
Greaves Cotton Limited is compared with the 5 companies closest to it by revenue in the Automobiles industry (Cotton, Electric and Bio Fuel Vehicles, Industrial Products Manufacturers), with the same principal business activity (electrical equipment, general purpose and special purpose machinery & equipment, transport equipment), from the latest filed financials of each company.
| Company | Revenue | Net profit | Margin | Growth (1 yr) | Employees | Location |
|---|---|---|---|---|---|---|
| Paharpur Cooling Towers Ltd | ₹4,001.26 Cr (FY 2024) | 19.0% | Kolkata, West Bengal, India | |||
| Flender Drives Private Limited | ₹3,764.98 Cr (FY 2025) | 107.0% | Chennai, Tamil Nadu, India | |||
| Inox Wind Limited | ₹3,701.55 Cr (FY 2025) | 105.0% | Village Basal, Himachal Pradesh, India | |||
| Greaves Cotton Limitedthis company | ₹3,436.62 Cr (FY 2026) | ₹114.94 Cr | 3.3% | 17.8% | 381 | Aurangabad, Maharashtra, India |
| LM Wind Power Blades (India) Private Limited | ₹2,886.78 Cr (FY 2025) | -14.0% | Bangalore, Karnataka, India | |||
| C R I Pumps Private Limited | ₹2,862.77 Cr (FY 2025) | 24.0% | Coimbatore, Tamil Nadu, India |
To see the full peer comparison of Greaves Cotton Limited, buy the company report.
Auditor
Greaves Cotton Limited is audited by Deloitte Haskins and Sells LLP for the financial year 2024.
| Auditor firm | Financial year | Firm registration number |
|---|---|---|
| Deloitte Haskins and Sells LLP | FY 2024 | 117366W/W-100018 |
Shareholding
Shareholding for the quarter ended Sep 2026: promoters hold 55.80%, foreign institutional investors hold 1.40%, domestic institutional investors hold 4.10% and retail and other public shareholders hold 38.70%.
Sep 2026
QUARTER
55.80% Promoters
4.10% DII (Domestic Institutional)
1.40% FII (Foreign Institutional)
38.70% Retail & Others
Promoter holding - history
Now 55.80% · Sep 2026High 55.80% · Dec 2025Low 55.80% · Dec 2025
Shareholding trend - last 6 quarters
| Sep 2026 | Jun 2026 | Mar 2026 | Dec 2025 | |
|---|---|---|---|---|
| Promoters | 55.80% | 55.80% | 55.80% | 55.80% |
| Public | 44.20% | 44.20% | 44.20% | 44.20% |
Charges & borrowings
Open charges
₹83 Cr
Satisfied charges
₹634.95 Cr
Breakdown by lending institutions
Latest charge details
| Date | Charge ID | Lender | Amount | Status | Modified or satisfied on |
|---|---|---|---|---|---|
| 20 Feb 2023 | 100682102 | Hdfc Bank Limited | ₹41 Cr | Open | |
| 20 Feb 2023 | 100682289 | Others | ₹42 Cr | Open | |
| 06 Dec 2004 | 80022524 | Standard Chartered Bank | ₹40 Cr | Satisfied | |
| 03 Aug 2004 | 80022521 | Rabo India Finance Private Limited | ₹20 Cr | Satisfied | |
| 08 Oct 1994 | 80022519 | Syndicate Bank | ₹293.21 Cr | Satisfied |
To see the full charge records of Greaves Cotton Limited, buy the company report.
Total charge records: 8 View all charges
Deals & funding
Greaves Cotton Limited has 50 deals on record (47 market trades, 2 secondary share transfers, 1 funding round), with disclosed funding of ₹12.16 Cr; the latest was in September 2025.
Total deals
50
Market trades
47
Secondary share transfers
2
Funding round
1
Disclosed funding
₹12.16 Cr
Deals on record (5 of 50)
| When | Deal | Amount | Parties |
|---|---|---|---|
| Sep 2025 | Market trade | ₹26.89 Cr | Buyer: Hrti Private Limited Seller: Hrti Private Limited |
| Jul 2025 | Market trade | ₹240.02 Cr | Buyer: Graviton Research Capital LLP , Qe Securities LLP , Hrti Private Limited Seller: Graviton Research Capital LLP , Qe Securities LLP , Hrti Private Limited |
| Apr 2025 | Market trade | ₹65.3 Cr | Buyer: Graviton Research Capital LLP , Hrti Private Limited Seller: Graviton Research Capital LLP , Hrti Private Limited |
| Feb 2025 | Market trade | ₹41.41 Cr | Buyer: Graviton Research Capital LLP Seller: Graviton Research Capital LLP |
| Jan 2025 | Market trade | ₹35.33 Cr | Buyer: Graviton Research Capital LLP Seller: Graviton Research Capital LLP |
To see the full deal history of Greaves Cotton Limited, buy the company report.
Deal records are compiled from filings and public sources; amounts are shown only where the source reported them.
Legal cases
Greaves Cotton Limited has 666 court cases on record: 359 filed by Greaves Cotton, 309 filed against it. 123 cases are pending and 543 are disposed.
Total cases
666
Filed by the company
359
Filed against the company
309
Pending
123
Disposed
543
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| High courts | 339 | 143 | 53 |
| District courts | 312 | 157 | 70 |
| Supreme Court | 15 | 9 | 0 |
Cases on record (5 of 666)
| Court | Type of case | Party | Status |
|---|---|---|---|
| High Court, TAMIL NADU | Interim or miscellaneous application | Filed against the company by Savani Transports Pvt. Ltd. and 7 others | Pending |
| High Court, TAMIL NADU | Court case (OSA(CAD)) | Filed against the company by Savani Transports Pvt. Ltd. and 7 others | Pending |
| Madras High Court | Court case (CRL RC) | Filed against the company by Savani Transports Private Limited, | Disposed |
| Madras High Court | Court case (CRL MP) | Filed against the company by Savani Transports Private Limited, | Disposed |
| District court, Tiruvallur, Tamil Nadu | Criminal miscellaneous application | Filed against the company by Savani Transports Private Ltd., | Disposed |
To see the full case history of Greaves Cotton Limited, buy the company report.
Case records are compiled from court listings and may lag the court's own records. A case filed against a company is not a finding against it.
Credit ratings & regulatory alerts
Greaves Cotton Limited was last rated by Indiarating on 28 Dec 2021.
| Rating agency | Rated on | Rating |
|---|---|---|
| Indiarating | 28 Dec 2021 |
To see the full credit ratings and regulatory alerts of Greaves Cotton Limited, buy the company report.
MSME payment delays
Greaves Cotton Limited has 31 MSME Form 1 returns on record between 2014 and 2024, listing 1,303 overdue payments to 162 micro and small suppliers. Companies must report dues to micro and small suppliers that stay unpaid for more than 45 days in a half-yearly MSME Form 1 return.
Suppliers with reported dues (5 of 162)
| Supplier | Amount due | Due since | Reported on |
|---|---|---|---|
| Nigasavi Controls | |||
| Swajan Industries Private Limited | |||
| Cizmak Technologies Private Limited | |||
| Sri Balaji Assemblies & Plastics Private Limited | |||
| Steelbird International |
To see the full MSME payment records of Greaves Cotton Limited, buy the company report.
Individuals and sole proprietors among the suppliers are not named.
Group structure & subsidiaries
Greaves Cotton has 6 subsidiary companies. This group structure data is as of FY 2024. The table lists each entity with its relationship and holding.
6
Subsidiary companies
Key subsidiaries
| Company Name | CIN | Shares held |
|---|---|---|
| Greaves Technologies Limited | U28920MH1960PLC011788 | |
| Excel Controlinkage Private Limited | U29130MH1994PTC077836 | |
| Greaves Finance Limited | U29299MH1958PLC011250 | |
| MLR Auto Limited | U34103TG2009PLC062790 | |
| Greaves Electric Mobility Private Limited | U51900TN2008PTC151470 | |
| Bestway Agencies Private Limited | U51909DL2004PTC124090 |
To see the full group structure of Greaves Cotton Limited, buy the company report.
Employees & EPFO
Greaves Cotton Limited has a workforce of 381 employees on its EPFO records as of Apr 10, 2024, across 6 active EPFO establishments.
Employee count
381
Active EPFO establishments
6
Employee growth
30.93%
GST
Greaves Cotton has 23 GST registrations: 20 active and 3 cancelled or inactive. The first 4 active GSTINs are listed below.
Total GSTINs
23
Active
20
Cancelled / inactive
3
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 27AAACG2062M1ZL | Maharashtra | Active | 01 Jul 2017 |
| 27AAACG2062M2ZK | Maharashtra | Active | 18 Mar 2025 |
| 06AAACG2062M1ZP | Haryana | Active | 01 Jul 2017 |
| 07AAACG2062M1ZN | Delhi | Active | 01 Jul 2017 |
To see the full GST registrations and return filing status of Greaves Cotton Limited, buy the company report.
Recent activity
Greaves Cotton Limited has 71 board changes on record since 1991: 40 appointments and 31 cessations. The latest: Firdose Vandrevala ceased to be Director on 14 Oct 2025.
Filing
Greaves Cotton Limited has filed its annual Financial statements for the year ended 31 Mar 2026 with Roc Mumbai Ii.
Ceased
Firdose Vandrevala ceased to be Director.
Appointed
Jehangir Ardeshir was appointed as Director.
AGM
Greaves Cotton Limited last Annual general meeting of members was held on 30 Jul 2025 as per latest MCA records.
Ceased
Nagesh Basavanhalli ceased to be Director.
Ceased
Arup Basu ceased to be Managing Director.
Appointed
Parag Parshuram Satpute was appointed as Managing Director.
Ceased
Sree Kirat Patel ceased to be Director.
Appointed
Kavita Nair was appointed as Director.
Appointed
Mangalath Sukumarapanicker Unnikrishnan was appointed as Director.
Ceased
Arvind Kumar Singhal ceased to be Director.
Appointed
Akhila Balachandar was appointed as CFO.
82 earlier events are in the company report.
News
Greaves Cotton: Subsidiary Ampere Expands by Adding Over 50 Experience Centers in 15 States, Doubling Its Network to Over 600 in Just Over One Year.
Greaves Cotton: Company Set to Host Analyst and Investor Meeting on September 29 at 10 AM
Frequently asked questions
Greaves Cotton is an active public limited company based in Aurangabad, Maharashtra, India. The company works in electrical and bio fuel vehicles, within the automotive industry. It was incorporated on 29 March 1922 (104+ years old) and is registered under CIN L99999MH1922PLC000987. Listed on BSE: 501455 and NSE: GREAVESCOT.
Greaves Cotton reported revenue of ₹3,436.62 Cr for FY 2025-26 (up 17.8% YoY) based on consolidated financials.
Greaves Cotton has 7 current directors:
- Parag Parshuram Satpute - Managing Director
- Ravi Moti Kirpalani - Director
- Karan Thapar - Director
- Raja Venkataraman - Director
- Jehangir Ardeshir - Director
- Kavita Nair - Director
- Mangalath Sukumarapanicker Unnikrishnan - Director
The latest financial statements of Greaves Cotton on record with the MCA are for the year ended 31 March 2026. Its last annual general meeting was held on 30 July 2025. Year-wise statements from 2015 are in the company report.
The GSTIN of Greaves Cotton is 27AAACG2062M1ZL, registered in Maharashtra. The company has 23 GST registrations in all, of which 20 are active and 3 are cancelled or inactive. Other active GSTINs include 27AAACG2062M2ZK (Maharashtra), 06AAACG2062M1ZP (Haryana), 07AAACG2062M1ZN (Delhi).
The CIN (Corporate Identification Number) of Greaves Cotton is L99999MH1922PLC000987. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Yes. Greaves Cotton is a listed company as per MCA records. Its shares are listed on both BSE (code: 501455) and NSE (symbol: GREAVESCOT).
Greaves Cotton has 666 court cases on record: 359 filed by the company and 309 filed against it. 123 are pending. Most are in the high courts.
Greaves Cotton was incorporated on 29 March 1922, making it 104+ years old. It is registered with the Registrar of Companies, Mumbai.
Greaves Cotton has 50 deals on record (47 market trades, 2 secondary share transfers, 1 funding round), with disclosed funding of ₹12.16 Cr; the latest was in September 2025.
The peers of Greaves Cotton by revenue are Paharpur Cooling Towers Ltd, Flender Drives Private Limited, Inox Wind Limited, LM Wind Power Blades (India) Private Limited, C R I Pumps Private Limited, all in the Automobiles industry (Cotton, Electric and Bio Fuel Vehicles, Industrial Products Manufacturers), with the same principal business activity (electrical equipment, general purpose and special purpose machinery & equipment, transport equipment).
Firdose Vandrevala ceased to be Director on 14 Oct 2025. Jehangir Ardeshir was appointed as Director on 01 Aug 2025. Nagesh Basavanhalli ceased to be Director on 30 Apr 2025. Greaves Cotton has 71 board changes on record in total.