GREAVES COTTON LTD.

Greaves Cotton Limited has announced the completion of its acquisition of the remaining 20% shareholding in Excel Controlinkage Private Limited, taking its total ownership to 100%. This acquisition, effective August 13, 2026, makes Excel Controlinkage a wholly owned subsidiary. The move is part of Greaves Cotton's multi-tranche acquisition strategy initiated in 2023 and aligns with its diversification strategy, aiming to build businesses with differentiated engineering capabilities in India's evolving mobility and industrial ecosystem. Excel Controlinkage is a significant player in motion control systems, serving various sectors including commercial vehicles, construction equipment, and agriculture.

Greaves Cotton Ltd has successfully acquired the remaining 20% shareholding in its material subsidiary, Excel Controlinkage Private Limited, through a secondary route. This transaction, effective August 13, 2026, increases Greaves Cotton's aggregate shareholding to 100%, making Excel a wholly owned subsidiary. The acquisition aligns with Greaves Cotton's strategy to diversify into new product categories and strengthen its presence in the commercial vehicles sector, aiming to develop a complete mobility ecosystem. Excel Controlinkage is a significant player in mechanical and electronic motion control systems, with integrated manufacturing capabilities.

Greaves Electric Mobility, a subsidiary of Greaves Cotton Ltd, has launched an upgraded version of its popular electric scooter, the Ampere Magnus G Max. The new model boasts over 30 IoT-enabled features powered by the NxG.io software platform, enhancing rider convenience and safety. Key additions include Cruise Control, Hill Hold Assist, Turn-by-Turn Navigation, and advanced connectivity features like Find My Scooter and Ping My Scooter, accessible via the Ampere Connect App. The scooter also introduces a new Cinnamon Copper color option and is priced at INR 1,09,999. The upgrade aims to make electric mobility a more practical and attractive choice for everyday riders in India, complementing the scooter's existing performance, LFP battery technology, and long-term ownership benefits.

Greaves Cotton Limited announced its unaudited financial results for the quarter ended June 30, 2026. Consolidated revenue for Q1 FY27 stood at ₹974 crore, marking a significant 31% year-on-year increase. The company also reported consolidated EBITDA of ₹56 crore and operating PBT of ₹27 crore. On a standalone basis, revenue grew 16% YoY to ₹629 crore, with EBITDA at ₹71 crore and operating PBT at ₹67 crore. The company highlighted its 'Greaves.Next' strategy execution, including international expansion with a Dubai subsidiary, enhanced manufacturing capabilities, and strategic investments in Greaves Electric Mobility and Greaves Finance. Energy Solutions and Mobility Solutions businesses also demonstrated strong revenue growth.

Greaves Cotton Limited announced its Standalone and Consolidated Unaudited Financial Results for the quarter ended June 30, 2026. The Board of Directors approved these results, which were reviewed and recommended by the Audit Committee. The financial results, along with the Limited Review Report from Statutory Auditors Price Waterhouse Chartered Accountants LLP, have been submitted. The company's board meeting to consider and approve these results commenced at 09:00 AM IST and concluded at 01:45 PM IST on August 4, 2026. The detailed financial results will be available on the company's website.

Greaves Cotton's consolidated revenue grew 30.7% YoY to ₹974.12 Cr in Q1 FY27 (₹745.43 Cr a year ago), though it slipped 2.6% QoQ from ₹1,000.26 Cr, driven by a 97.4% YoY jump in the Electric Mobility & Other Vehicles segment to ₹269.82 Cr. But the group's "profit for the period" collapsed 70.5% YoY to ₹6.16 Cr from ₹20.85 Cr — far steeper than any revenue move — because ₹19.61 Cr of the period's losses were absorbed by non-controlling interests in the EV subsidiary (Greaves Electric Mobility, GEML); profit attributable to Greaves Cotton's own shareholders was a healthier ₹25.77 Cr, down a more moderate 22.1% YoY from ₹33.09 Cr. No street estimates specific to this quarter were found, so the print's standing versus consensus is unknown. The margin story explains the gap between revenue growth and profit decline. Consolidated EBITDA (PBT before exceptional items plus finance costs and depreciation) came in at roughly 5.9% of revenue versus about 10.1% a year ago and 8.1% last quarter. Finance costs more than doubled YoY to ₹12.01 Cr from ₹4.87 Cr as the Vehicle Finance NBFC book scaled to ₹429.78 Cr in segment assets from ₹131.99 Cr, and unallocable other expenses widened to ₹25.82 Cr from ₹17.12 Cr. At the segment level, the core Engines & Engineering Products business held margin discipline at 15.07% (₹106.28 Cr on ₹705.31 Cr revenue) — inside management's 13-15% EBITDA guidance band even as it compressed from 17.33% a year ago — putting the core business broadly on-track against the 16-18% organic growth and 13-15% margin targets laid out on the May 6, 2026 call. The Electric Mobility & Other Vehicles segment, for which management gave no formal guidance (citing prior IPO restrictions), saw its loss widen to ₹45.77 Cr from ₹40.51 Cr despite near-doubling revenue, remaining the swing factor in group profitability. No management press release was available in the context to cross-check this framing against the company's own words. The quarter also brought corporate-action news that reframes the EV funding picture: GEML shelved its IPO plan on Jul 31, 2026, and instead completed a ₹530 Cr rights issue on Aug 3, 2026, of which Greaves Cotton subscribed its full ₹331 Cr entitlement (board-approved Jul 9, 2026), on top of a further ₹50 Cr invested into subsidiary Greaves Finance during the quarter. Ampere, GEML's EV brand, also struck a financing partnership with Muthoot Capital (Jul 28, 2026) that aligns with the Vehicle Finance segment's growth. Standalone (holding-company-only, excluding the EV subsidiary) PAT was ₹49.84 Cr, down from ₹56.64 Cr a year ago but far above the ₹6.16 Cr consolidated figure — a reminder that standalone and consolidated numbers tell very different stories this quarter, with the entire divergence attributable to EV-segment losses. No exceptional items were recognised this quarter on either basis (the year-ago quarter had an immaterial ₹0.52 Cr consolidated exceptional charge), so the YoY profit swing reflects genuine operating and financing cost pressure rather than a base effect.

Greaves Electric Mobility Limited (GEML), a subsidiary of Greaves Cotton Limited, has announced that its Rights Issue of INR 530 crore has been fully subscribed. The investment was backed by existing shareholders, including Greaves Cotton Limited and Abdul Latif Jameel Green Mobility Solutions, reaffirming their confidence in GEML's growth strategy and its role in India's clean mobility transition. The capital infusion will be used to develop next-generation products, battery management systems, powertrains, and new technology. GEML aims to strengthen its electric two- and three-wheeler portfolio and accelerate innovation in the competitive EV market. The company also indicated its commitment to a future public listing when market conditions are favorable.

Greaves Cotton Limited's material subsidiary, Greaves Electric Mobility Limited (GEML), has successfully completed its ₹530 Crore rights issue. Greaves Cotton subscribed to its full entitlement of approximately ₹331.12 Crore, maintaining its shareholding at 62.48%. The funds raised by GEML will be utilized for capital expenditure, working capital, and general corporate purposes. GEML is engaged in designing and manufacturing electric two-wheelers and three-wheelers, with a turnover of ₹596.98 Crore as of March 31, 2026.

Greaves Cotton Ltd's material subsidiary, Greaves Electric Mobility Limited (GEML), has informed SEBI and stock exchanges that it will not proceed with its proposed Initial Public Offering (IPO). GEML has decided not to avail the one-time relaxation granted by SEBI regarding the validity of its Draft Red Herring Prospectus (DRHP) observations. This decision comes as GEML is undertaking a rights issue to fund its business initiatives, growth investments, and expansion priorities. Consequently, the validity of SEBI's final observations on the DRHP has lapsed, and GEML will not be moving forward with the IPO.

Greaves Electric Mobility's E2W brand, Ampere, has partnered with Muthoot Capital Services to enhance the accessibility and affordability of electric two-wheelers across India. This collaboration aims to accelerate EV adoption by providing tailored retail financing solutions for Ampere's electric scooters, catering to diverse income profiles and needs. The partnership is expected to bridge affordability gaps, offer flexible repayment options, and make EV ownership more financially sustainable for a wider customer base, including salaried individuals, self-employed, gig workers, and small business owners. This initiative leverages Muthoot Capital's extensive retail financing network and Ampere's growing product portfolio, supported by Greaves Cotton Limited's legacy, to strengthen GEML's market presence and promote clean mobility.