Greaves Cotton, which has built a new leadership team to develop future-proof business, has reported a 21 percent jump in its Profit After Tax to Rs 57 crore for the quarter ended March 31, 2018 as against Rs 47 crore reported in the corresponding quarter last year. Net sales for Q4 FY2018 rose by 24 percent to Rs.486 crore as against Rs 391 crore in Q4 FY2017.
EBITDA for the quarter ended March 31, 2018 grew by 31 percent to Rs 70 crore as against Rs 53 crore in the year-ago quarter. For the year ended FY2018, the company recorded 12 percent rise in its Profit After Tax to Rs 203 crore as compared to Rs 181 crore for the year ended FY17. Net sales for the same period were up 10 percent to Rs 1,792 crore as against Rs 1,634 crore (GST comparable numbers).
EBITDA for the year ended March 31, 2018 was Rs 255 crore as against Rs 243 crore in the previous year.
Nagesh Basavanhalli: "We are laying the foundation for sustainable growth in the future."
Commenting on the results, Nagesh Basavanhalli, MD and CEO, said, “Q4 and the fiscal year has progressed as per our strategic plan. Our double-digit, topline and bottomline growth is the result of a focused approach towards improving the quality of services and solutions to our customers, expanding our business footprint, cost rationalisation and building a strong leadership team. We are laying the foundation for sustainable growth in the future.”
The Rs 1,800 crore, multi-product, multi-locational company is one of the leading engineering companies in India with core competencies in fuel agnostic powertrain solutions and services, farm equipment and gensets. It has six manufacturing units which produce world-class products backed by comprehensive spares and service through its 3,500 service outlets across India. It also manufactures approximately 400,000 engines annually at its plants in Pune, Aurangabad and Ranipet.
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