Greaves Cotton Q2 Net Loss Reaches Rs 29.81 Crore on Exceptional Charges and Input Costs

Greaves Cotton reported a consolidated net loss of Rs 29.81 crore for Q2 FY27, compared to a net profit of Rs 6.32 crore recorded in the corresponding period of the previous financial year.

The group recorded exceptional expenses totaling Rs 32.75 crore during the second quarter. Auditor notes said that subsidiary Greaves Electric Mobility, which manufactures the Ampere brand of electric scooters, recognized Rs 12.55 crore in exceptional costs after deciding not to proceed with its proposed initial public offering (IPO). 

On an owner-attributable basis, net profit fell 81.47 percent year-on-year to Rs 4.82 crore from Rs 26.01 crore in Q2 FY26, as bottom-line performance was impacted by non-recurring exceptional charges and higher material costs.

Total consolidated expenses for Q2 FY27 expanded by 47 percent year-on-year to Rs 1,170.24 crore from Rs 795.36 crore in the prior-year period. Cost of materials consumed increased to Rs 832.71 crore compared to Rs 521.47 crore in Q2 FY26, depreciation and amortisation expenses reached Rs 53.22 crore compared to Rs 26.95 crore in the year-ago quarter and other expenses stood at Rs 144.67 crore against Rs 123.33 crore.

Consolidated revenue from operations grew 44 percent year-on-year to Rs 1,175.91 crore from Rs 815.46 crore in Q2 FY26. Total consolidated income for Q2 FY27 reached Rs 1,187.08 crore, compared to Rs 825.89 crore in Q2 FY26.

On a standalone basis, Greaves Cotton reported a 21.45 percent decline in net profit for Q2 FY27 at Rs 41.31 crore, compared to Rs 52.59 crore in Q2 FY26. Standalone operational revenue grew 23.66 percent to Rs 682.18 crore from Rs 551.66 crore in the year-ago quarter. Standalone total expenses scaled to Rs 628.98 crore against Rs 486.23 crore in Q2 FY26.

For H1 FY27, the group posted a consolidated net loss of Rs 23.65 crore compared to a net profit of Rs 27.17 crore in H1 FY26. Consolidated revenue from operations for H1 FY27 rose 37.74 percent to Rs 2,150.03 crore against Rs 1,560.89 crore in the corresponding period of the previous financial year.