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Greaves Cotton Limited
(GREAVESCOT)
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Rating:58Neutral
Price Target:
₹202.00
▼(-17.97% Downside)
Action:Reiterated
Date:07/11/26
Overall score reflects improved profitability and a supportive balance sheet, but it is constrained by weak historical cash-flow consistency and modest cash conversion. Technically, the stock has strong upward momentum, yet valuation is stretched (high P/E and low yield), which limits upside confidence without sustained cash-flow improvement.
Positive Factors
Revenue Recovery and Growth
The return to strong revenue growth indicates improving demand across Greaves Cotton's propulsion and mobility businesses. Sustained top-line expansion can strengthen operating leverage, support reinvestment and improve the durability of earnings recovery.
Negative Factors
Inconsistent Cash Generation
The long history of negative operating cash flow indicates that reported earnings have not consistently converted into cash. Although FY2026 improved, uneven collections or working-capital needs could constrain reinvestment, debt service and shareholder returns.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue Recovery and Growth
The return to strong revenue growth indicates improving demand across Greaves Cotton's propulsion and mobility businesses. Sustained top-line expansion can strengthen operating leverage, support reinvestment and improve the durability of earnings recovery.
Read all positive factors
Greaves Cotton Limited (GREAVESCOT) vs. iShares MSCI India ETF (INDA)
Market Cap
₹45.51B
Dividend Yield1.02%
Average Volume (3M)99.05K
Price to Earnings (P/E)45.5
Beta (1Y)1.97
Revenue Growth21.20%
EPS Growth22.83%
CountryIN
Employees1,756
SectorGeneral
Sector StrengthN/A
IndustryIndustrial - Machinery
Share Statistics
EPS (TTM)4.30
Shares Outstanding232,951,430
10 Day Avg. Volume61,310
30 Day Avg. Volume99,047
Financial Highlights & Ratios
PEG Ratio0.31
Price to Book (P/B)1.96
Price to Sales (P/S)0.82
P/FCF Ratio102.23
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)5.65
Revenue Forecast (FY)₹40.53B
Greaves Cotton Limited Business Overview & Revenue Model
Company Description
Established in Mumbai, India, in 1859, Greaves Cotton Limited operates as a diversified engineering firm specializing in the production and sale of engines and associated application products. Its engine range includes lightweight diesel and gasol...
How the Company Makes Money
Greaves Cotton primarily generates revenue from (1) selling internal combustion engines and powertrain/propulsion products to original equipment manufacturers (OEMs) for applications such as small commercial vehicles, three-wheelers, and other ind...
Greaves Cotton Limited Financial Statement Overview
Summary
Income Statement
63
Positive
Balance Sheet
70
Positive
Cash Flow
38
Negative
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 36.65B | 34.37B | 29.18B | 26.33B | 26.99B | 17.10B |
| Gross Profit | 8.07B | 6.50B | 9.31B | 8.16B | 7.29B | 1.61B |
| EBITDA | 2.45B | 2.50B | 1.36B | -1.79B | 1.88B | 472.40M |
| Net Income | 998.20M | 1.07B | 584.00M | -1.35B | 780.30M | -353.00M |
Balance Sheet | ||||||
| Total Assets | 0.00 | 28.94B | 25.52B | 24.64B | 27.24B | 16.44B |
| Cash, Cash Equivalents and Short-Term Investments | 6.23B | 6.24B | 2.55B | 4.78B | 11.36B | 4.55B |
| Total Debt | 0.00 | 3.94B | 812.40M | 807.50M | 282.60M | 2.57B |
| Total Liabilities | -15.14B | 13.80B | 9.66B | 7.90B | 7.57B | 8.95B |
| Stockholders Equity | 15.14B | 14.31B | 14.06B | 14.40B | 15.87B | 7.49B |
Cash Flow | ||||||
| Free Cash Flow | -1.19B | 274.80M | -647.70M | -3.12B | -2.14B | -1.29B |
| Operating Cash Flow | -786.00M | 640.20M | -225.20M | -1.53B | -1.35B | -627.80M |
| Investing Cash Flow | -341.80M | -2.19B | 497.10M | 2.32B | -7.58B | -2.32B |
| Financing Cash Flow | 258.80M | 2.10B | -399.80M | -320.10M | 8.89B | 2.10B |
Greaves Cotton Limited Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
72 Outperform | ₹203.42B | 45.22 | ― | 0.42% | 15.94% | 23.70% | |
71 Outperform | ₹147.74B | 39.60 | ― | 0.38% | 5.04% | -10.39% | |
62 Neutral | ₹98.82B | 37.55 | ― | 0.79% | 9.81% | 24.53% | |
58 Neutral | ₹45.51B | 45.48 | ― | 1.02% | 21.20% | 22.83% | |
57 Neutral | ₹320.63B | 58.61 | ― | 0.41% | 22.66% | 15.61% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
55 Neutral | ₹141.38B | -1.92 | ― | 0.50% | 4.63% | -4.40% |
* General Sector Average
IN:GREAVESCOT
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Greaves Cotton Limited Corporate Events
Greaves Cotton Publishes Q1 FY27 Investor Presentation on Unaudited Results
Aug 4, 2026
Greaves Cotton Limited has released an investor presentation detailing its unaudited financial results for the quarter ended June 30, 2026, in line with SEBI’s disclosure regulations. The presentation has been shared with stock exchanges and...
Greaves Electric Mobility’s INR 530 Crore Rights Issue Fully Subscribed
Aug 3, 2026
Greaves Electric Mobility Limited (GEML), the e-mobility arm of Greaves Cotton Limited and a leading player in India’s electric two- and three-wheeler market, has raised INR 530 crore through a fully subscribed rights issue. The capital has ...
Greaves Electric Mobility’s INR 530 Crore Rights Issue Fully Subscribed, Parent Stake Unchanged
Aug 2, 2026
Greaves Cotton Limited has announced that its material subsidiary, Greaves Electric Mobility Limited, has successfully completed an INR 530 crore rights issue that was fully subscribed by existing shareholders. The Board of Greaves Electric Mobili...
Greaves Cotton Publishes Notice for 107th AGM in Leading Dailies
Jun 27, 2026
Greaves Cotton Limited has announced that it has published a public notice for its 107th Annual General Meeting in leading newspapers Business Standard (all India, English) and Loksatta Chhatrapati Sambhajinagar (regional, Marathi), in line with S...
Greaves Cotton Issues Clarification on Investor Meet Intimation
Jun 17, 2026
Greaves Cotton Limited issued a clarification regarding its earlier intimation about the schedule of an analyst and investor meet filed on the same day. The company stated that the reference to the Sun Pharma Family Office in that prior communicat...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.