CFO Balachandar dedicated to delivering sustainable value consistently
Greaves Engineering has been maximising competitiveness with a versatile product portfolio adaptable to mechatronics and electronics, complemented by cost-efficient strategies, synergistic partnerships, and an expanding global presence in the US and EU https://usispf.org/ .
“The collaboration with Nagpur’s Excel Controlinkage over the past year has proven to be the epitome of success, marked by profitability and robust growth, solidifying it as our most fruitful partnership yet,” said Nagesh Basavanhalli, Non-Executive Vice Chairman of Greaves Cotton Limited https://greavescotton.com/ , the group company.
Greaves Cotton’s acquisition of Excel Controlinkage has proven to be value accretive https://www.investindia.gov.in/ .
“Our transformation journey from diesel engines https://www.ibef.org/ to a multifaceted organisation embracing a fuel-agnostic approach, bringing us closer to our customers,” he said in a financial statement on 8 May 2024.
The company’s performance underscores the resilience of diversification strategy. Collaborating with Excel has unlocked new capabilities and growth avenues for Greaves Engineering.
“Our evolution from a B2B to a B2B+B2C company has been fuelled by the robustness of our strategy, contributing to our growth https://fieo.org/ . This transformation has been pivotal, instilling confidence to deliver sustainable value to customers and shareholders.”
Greaves Cotton https://cottonworld.net/ , one of India’s leading diversified engineering companies https://www.makeinindia.com/home/ , has reported standalone revenues of Rs.481 crores for the fourth quarter of fiscal year 2024, an increase of 10% y-o-y.
The company has reported an improvement in standalone margins with quarterly EBITDA at Rs.56 crores, a growth of 9% y-o-y. The Q4FY24 Consolidated revenue stood at Rs.673 crores.
On a full-year basis, standalone revenues stood at Rs.1,779 crores, a growth of 15% y-o-y. On a consolidated basis, it reported revenues of Rs.2,633 crores.
Greaves Cotton CFO Akhila Balachandar added, “The financial results highlight the exceptional performance of Greaves Engineering & Excel, along with the impressive expansion of Greaves Retail.
“The launch of our new EV solutions business vertical has provided a solid foundation. The momentum we have established reinforces our confidence in our strategy, reaffirming our dedication to delivering sustainable value consistently.”
Greaves launched the Greaves Eltra City, a passenger L3 vehicle, while broadening the 3W financing network with 16 PAN-India and 16 state-specific partners, fostering the commitment to accessible and convenient mobility solutions. Fiinews.com
