Greaves Cotton Q1FY16 Net Profit up 51% at Rs. 43.34 Crore

Editor Synopsis

Q1FY16 Vs Q1FY15

• Net profit at Rs. 43.34 crore, up 50.80%

• Revenue at Rs. 380.66 crore Vs 422.53

• EBITDA Margin at 16.35%, up 47.56%                                                                                                                                                                           

Greaves Cotton Limited, one of India's leading engineering companies, reported a 50.8 % jump in Net Profit to Rs. 43.34 crore for the quarter ended June 30^th, 2015 as against Rs. 28.74 crore recorded in the same period of last year.

The total income for Q1FY16 stood at Rs 380.66 crore as against Rs. 423 crore in Q1FY15. The corresponding quarter last year included revenue of Rs. 24 crore from discontinued operations of construction equipment business manufacturing activities.

EBITDA for the quarter stood at Rs. 62.24 crore as against Rs. 46.82 crore in Q1FY15, up 32.93%. EBIDTA Margin for Q1FY16 improved to 16.4% from 11.1% recorded during Q1FY15, up 47.56%

Commenting on the results, Mr. Sunil Pahilajani, MD & CEO, said, "While we are still facing pressures on topline growth, our thrust on tightening operational controls is being reflected in continued improvement in material cost, fixed costs and working capital."

"The company's continued focus on adding new OEMs to its fold has resulted in adding Eicher Polaris as new customer for a versatile transport vehicle, Multix, in June 15 which is powered by Greaves engine. The Company is also planning to launch various light agri equipment during the year ahead to provide impetus to its farm equipment business."

About Greaves Cotton:

Greaves Cotton limited, a Rs. 1700 crore, multi-product, multi-Iocational company is one of the leading engineering companies in India with core competencies in Diesel, Petrol Engines, Farm equipment and Gensets. The Company sustains its leadership through seven manufacturing units which produce world class products backed by comprehensive marketing and service / parts network throughout the country.