Latest news with #GreavesCotton
Business Standard
4 days ago
- Business
- Business Standard
Greaves Electric Mobility appoints Vikas Singh as MD
With effect from 02 June 2025Greaves Electric Mobility (GEML), the e-mobility division of Greaves Cotton, announces the appointment of Vikas Singh as its new Managing Director, effective 2 June 2025. He will lead the company's next phase of growth, with the current management team reporting to brings leadership experience in driving growth across some of India's most dynamic consumer-facing industries. His leadership in regulated environments has further sharpened his ability to drive transformation with resilience and agility. Singh, an alumnus of FMS, University of Delhi, and has held leadership positions in various Indian and multinational by Capital Market - Live News
NDTV
14-05-2025
- Automotive
- NDTV
Greaves Electric Gets SEBI Greenlight To Float IPO
Greaves Electric Mobility (GEML) has received the green signal from the Securities and Exchange Board of India (SEBI) to issue an IPO. Greaves will become the third EV-only manufacturer to issue an IPO after Ola Electric and Ather Energy. Simple Energy too plans to roll out an IPO in 2027. The company submitted its draft Red Herring Prospectus (DHRP) in December 2024 and SEBI issued the observation letter on May 8, 2025. The company plans to raise Rs. 1,000 crore through fresh issue of shares. Its promoters (Greaves Cotton) and current investors Abdul Lateef Jameel Green Mobility Solutions DMCC look to sell up to 18.94 crore shares through offer for sale (OFS). At present, Greaves Cotton holds 62.5 per cent stake in Greaves Electric and the rest is held by Abdul Lateef Jameel Green Mobility Solutions. Greaves Electric is a subsidiary of Greaves Cotton and it has three fully electric brands on sale in India - Ampere for two-wheelers, Ele for e-rickshaws and Greaves 3W for three-wheelers. Post IPO, Greaves Electric plans to use the amount for various purposes. The company will allocate Rs. 375.27 crore for R&D at its Bengaluru tech centre. Another Rs. 82.9 crore will be used to strengthen in-house battery assembly. GEML will also allocate Rs. 58.15 crore towards increasing manufacturing capacity at its plants in Ranipet, Greater Noida and Toopran. The company plans to acquire MLR Auto fully and plans to invest Rs. 73.67 crore towards the same. In FY2024, Greaves Electric Mobility experienced a substantial decline in its revenue from operations, which fell to Rs. 611.8 crore-a 45.5 per cent drop compared to the previous year. This downturn was largely driven by a sharp reduction in electric two-wheeler sales volume. Electric two-wheelers, which previously made up about 67 per cent of the company's total revenue, saw their sales plummet to 47,820 units, less than half of the 109,000 units sold in FY23. Conversely, the company witnessed growth in its electric three-wheeler segment, with volumes increasing to 13,470 units from 6,870 units the prior year.
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Business Standard
13-05-2025
- Automotive
- Business Standard
Greaves Electric gets Sebi nod for public listing, looks to raise ₹1000 cr
Greaves Electric Mobility Ltd, the electric vehicle arm of Greaves Cotton, on Tuesday received approval for an initial public offering (IPO), markets regulator Securities and Exchange Board of India (Sebi) said on Tuesday. The proposed IPO includes a fresh issue of equity shares worth ₹1,000 crore, along with an Offer for Sale (OFS) of 18.9 crore shares by existing shareholders, as per the draft prospectus filed in December. As part of the OFS, promoter Greaves Cotton plans to sell 5.1 crore shares, while Abdul Latif Jameel Green Mobility Solutions DMCC will offload 13.8 crore shares. The funds raised through the fresh issue will support several strategic projects. These include ₹375.2 crore for developing new products and technology at its Bengaluru Technology Centre, ₹82.9 crore for building in-house battery assembly capacity, and ₹19.8 crore for expanding the manufacturing output of Bestway Agencies Private Limited. In addition, ₹38.2 crore will go towards boosting production capacity at MLR Auto Limited, while ₹73.6 crore is earmarked for increasing its shareholding in MLR through acquisitions. A further ₹27.8 crore will be spent on improving the company's digital capabilities and IT systems. The remaining funds will be used for potential acquisitions and general corporate needs. Greaves Electric offers a full range of electric two-wheelers (E-2Ws) and three-wheelers (3Ws), serving both individual customers and businesses. It is best known for its 'Ampere' brand of E-2Ws. It also manufactures electric three-wheelers under a different brand Ele. As of September 30, 2024, the company operated three manufacturing units, located in Ranipet (Tamil Nadu), Greater Noida (Uttar Pradesh), and Toopran (Telangana). The company posted revenue of ₹611.8 crore in the financial year ended March 2024, and ₹302.2 crore for the half-year ending September 30, 2024.
Business Standard
30-04-2025
- Business
- Business Standard
Greaves Cotton consolidated net profit rises 839.45% in the March 2025 quarter
Sales rise 22.35% to Rs 822.83 crore Net profit of Greaves Cotton rose 839.45% to Rs 24.05 crore in the quarter ended March 2025 as against Rs 2.56 crore during the previous quarter ended March 2024. Sales rose 22.35% to Rs 822.83 crore in the quarter ended March 2025 as against Rs 672.53 crore during the previous quarter ended March 2024. For the full year,net profit reported to Rs 58.40 crore in the year ended March 2025 as against net loss of Rs 135.27 crore during the previous year ended March 2024. Sales rose 10.83% to Rs 2918.44 crore in the year ended March 2025 as against Rs 2633.19 crore during the previous year ended March 2024. Particulars Quarter Ended Year Ended Mar. 2025 Mar. 2024 % Var. Mar. 2025 Mar. 2024 % Var. Sales 822.83672.53 22 2918.442633.19 11 OPM % 5.563.53 - 4.653.44 - PBDT 52.1034.09 53 174.11146.12 19 PBT 26.835.91 354 70.6361.73 14 NP 24.052.56 839 58.40-135.27 LP
Business Standard
30-04-2025
- Automotive
- Business Standard
Greaves Cotton sizzles on reporting multi-fold jump in Q4 PAT
Greaves Cotton surged 8.50% to Rs 205.50 after the company reported consolidated net profit of Rs 24.05 crore in Q4 FY25, steeply higher than Rs 2.56 crore for Q4 FY24. Revenue from operations rose 22.34% year on year (YoY) to Rs 822.83 crore in the quarter ended 31 March 2025. On the segmental front, engine revenue was Rs 523.99 crore (up 20.79% YoY), electric mobility & other vehicles revenue was Rs 169.29 crore (up 41.46% YoY) and revenue from cables & control levers stood at Rs 70.47 crore (up 7.70% YoY) during the fourth quarter. EBITDA soared 91.66% to Rs 46 crore in the quarter ended 31 March 2025 as compared to Rs 24 crore posted in the same quarter previous year. EBITDA margin improved to 5.6% in Q4 FY25 as against 3.5% recorded in Q4 FY24. Profit before tax surged to Rs 26.83 crore in the fourth quarter of FY25, compared to Rs 3.49 crore reported in the same period last year. On a full-year basis, the company reported a consolidated net profit of Rs 58.40 crore in FY25 as against a net loss of Rs 135.72 crore in FY24. Revenue from operations jumped 10.83% YoY to Rs 2,918.44 crore in FY25. Karan Thapar (Chairman), Greaves Cotton, said, "Our consistent progress across diverse business units is a testament to our strategic vision. By leveraging our mobility expertise and focusing on customer needs, we are evolving from a diesel engine pioneer into a dynamic provider of fuel-agnostic solutions with multiple applications while maintaining strong financial health. Meanwhile, the companys board has recommended payment of a dividend of Rs 2 per share for the financial year ended 31st March, 2025, subject to approval of the shareholders at the ensuing Annual General Meeting of the Company Greaves Cotton is a multi-product and multi-location engineering company. The company is a leading name in fuel-agnostic powertrain solutions, e-mobility, aftermarket & retail.
