Greaves Cotton reported an 81% year-on-year decline in net profit to ₹5 crore for the quarter ended September 30, 2026, compared with ₹26 crore in the year-ago period. The decline came amid exceptional expenses totalling ₹32.75 crore during the quarter.
Revenue rose 44.2% year-on-year to ₹1,176 crore from ₹815.5 crore. Earnings before interest, taxes, depreciation and amortisation increased 41% to ₹74 crore from ₹52.3 crore. However, the EBITDA margin remained largely unchanged at 6.3%, compared with 6.4% in the corresponding quarter last year.
The exceptional items included ₹12.66 crore in expenses related to the proposed initial public offering of its material subsidiary, Greaves Electric Mobility Ltd. The subsidiary decided not to proceed with the offering amid plans for a rights issue and related regulatory restrictions.
The company also recognised an impairment loss of ₹20.09 crore on goodwill and the brand associated with Bestway Agencies Private Ltd, following a reassessment of their recoverability. Greaves Cotton shares were trading at ₹184.32 on October 29, up 1.77%, or ₹3.21.