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Greaves Cotton Ltd share Price Today

Company details

128.80
131.00
121.05
175.70
6M Return -2.37%
1Y Return -15.60%
Mkt Cap.(Cr) 3,006.72
Volume 1,422,036
Div Yield 1.54%
OI
-
OI Chg %
-
Volume 1,422,036

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Technical Outlook
    The capital goods sector has been resilient post multi year breakout. Within the space, Greaves Cotton looks lucrative at current juncture as stock witnessed a faster pace of retracement wherein past five months decline (₹ 164-118) was completely retraced in just two months, highlighting structural turnaround. Thereby offering fresh entry opportunity to ride next leg of up move  
     
    Strong base formation bodes well for next leg of up move : Structurally, stock has undergone strong base formation before witnessing buying demand from long term 200 weeks EMA coincided with regression line (placed around ₹ 120-130) which has been held on multiple occasions over past two years, highlighting robust price structure

    We expect, stock to accelerate upward momentum and gradually head towards ₹ 180 in coming months as it is 50% retracement of CY22-23 decline (₹ 258-118) coincided with September 2022 high of ₹ 184

Fundamental Outlook
    •Greaves Cotton (Greaves) is a leading diversified engineering company with a presence in automotive, non-automotive, aftermarket, retail, electric mobility solution and finance. Greaves Engineering contributes 38% of FY23 revenue, Greaves Retail contributes 20% of FY23 revenue. E-mobility is expected to drive future growth (~42% of FY23 revenue)

     

    Greaves standalone revenue came in at ₹ 436.8 crore (Vs. I-Direct estimate of ₹ 411.2 crore) grew by 15.3% on a YoY basis. For FY23 revenues came at ₹ 1,549.7 crores which grew by 31.6% on YoY basis. Consolidated revenue grew by 33.2% YoY to ₹ 826.9 crore & for FY23 it came at ₹2699.4 crores grew by 57.9% on YoY. The engine segment revenues came in at ₹ 400.9 crore, grew by 15% YoY. On the other hand, E-Mobility segment revenue grew by 61.6% to ₹ 383.3 crore with a volume of 39,000 units. For FY23 E-Mobility segment reported revenues of ₹1124.3 which grew strongly by 115.3% on YoY basis.
     
    It reported Standalone EBITDA of ₹ 51.8 crore (Vs. I-Direct estimate of ₹ 44.8 crore) Vs ₹ 29.1 crores in Q4FY22, with EBITDA margin of 11.9% expansion of 417bps YoY. For FY23 it reported EBITDA of ₹ 151.4 crores grew by 238.7%. The company has reported standalone PAT of ₹ 29.5 crore (Vs. I-Direct estimate of ₹ 29.4 crore) grew by 75.1% YoY basis. For FY23 PAT came at ₹ 115.1 crores grew by 325.2% on YoY basis.

    Transformation strategy is working well for the company as E-mobility business registered strong growth, Going forward key monitorable would be the pace of new launches, ramp up in volumes and how competition panning up.

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Auto Parts & Equipment company Greaves Cotton announced FY24 results:

Financial Highlights:

  • Standalone Revenue for GCL for FY24 stood at Rs 1,779 crore, a growth of 15% YoY.
  • Standalone EBITDA for FY24 stood at Rs 232 crore, a growth of 53% YoY, and an improvement in margins by 325 bps YoY
  • GCL Proposed final Dividend of 100%
  • Standalone decadal high PBT of Rs 366 crore
  • New Acquisition Excel's revenue stands at Rs 263 crore, a growth of 41% YoY, with robust margins of 31%
  • Greaves Electric Mobility's consolidated revenue stands at Rs 612 crore, with a strong focus on new product launches and the path to profitability

Commenting on the Company's performance, Nagesh Basavanhalli, Non-Executive Vice Chairman of Greaves Cotton, said, "Our transformation journey from diesel engines to a multifaceted organisation embracing a fuel-agnostic approach, bringing us closer to our customers. The Company's performance underscores the resilience of our 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. This transformation has been pivotal, instilling confidence to deliver sustainable value to customers and shareholders."

Akhila Balachandar, CFO, Greaves Cotton, 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, and we're excited about the renewed interest in Greaves 3W on the NAB portal. The momentum we have established reinforces our confidence in our strategy, reaffirming our dedication to delivering sustainable value consistently."

Result PDF

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Greaves Cotton Ltd shares SWOT Analysis

Strengths (4)

  • Rising Net Cash Flow and Cash from Operating activity
  • Company with Low Debt
  • Company able to generate Net Cash - Improving Net Cash Flow for last 2 years

Weakness (8)

  • Poor cash generated from core business - Declining Cash Flow from Operations for last 2 years
  • Degrowth in Revenue and Profit
  • Degrowth in Quarterly Revenue and Profit in Recent Results(YoY)

Opportunity (1)

  • Stock with Low PE (PE < = 10)

Threats (1)

  • RSI indicating price weakness

Resistance and support

R1 130.8
R2 132.0
R3 133.0
Pivot

129.80

S1 128.6
S2 127.6
S3 126.4
EMA SMA
133.7
136.6
139.6
141.0
135.0
133.2
145.8
141.1
Delivery and volume
CLIENT NAME DEAL TYPE ACTION DATE AVG. PRICE QUANTITY EXCHANGE
GRAVITON RESEARCH CAPITAL LLP Bulk Purchase 2024-02-08 170.08 1387026 NSE
GRAVITON RESEARCH CAPITAL LLP Bulk Sell 2024-02-08 170.2 1387026 NSE
GRAVITON RESEARCH CAPITAL LLP Bulk Purchase 2024-01-23 170.26 1237793 NSE
Name Category Shares
DBH INVESTMENT CAPITAL INDIA PRIVATE LIMITED PROMOTER 56%

OUR RESEARCH VIEW

Investment recommendation
Call Date
16 May 2023
Entry Price 152.00
Target Price 180.00
Duration
3 Month

FINANCIALS

Sales
Operating Profit
Profit after Tax
Equity
Reserves and Surplus
Debt
Sales
Operating Profit
Profit after Tax
PE
Debt/Equity
P BV

Greaves Cotton Ltd Stocks COMPARISON

Financials( in Cr) Greaves Cotton Ltd Cummins India Ltd Thermax Ltd Carborundum Universal Ltd Grindwell Norton Ltd
Price 129.60 3,713.85 5,143.60 1,652.50 2,374.40
% Change -2.63 -1.20 -0.41 -3.61 1.32
Mcap Cr 3,006.72 102,947.92 61,289.08 31,440.13 26,289.36
Revenue TTM Cr 2,699.45 7,772.09 8,089.81 4,654.28 2,012.76
Net Profit TTM Cr 69.75 1,228.15 450.70 441.70 295.08
PE TTM 30.29 67.25 103.91 68.08 68.33
1 Year Return -15.60 120.45 125.85 37.58 17.87
ROCE 10.25 26.89 14.53 20.69 27.49
ROE 6.59 22.53 12.25 17.04 20.97
INSIDER & INSTITUTIONAL ACTIVITY

Equity Capital: 1,586.54 Cr FV: 2.00

Period MF Net Purchase / (sold) FII Net
LAST 1M 29,248.28 -22,040.96
LAST 3M 102,638.29 -30,717.76
LAST 6M 167,920.74 50,623.85
LAST 12M 262,867.28 126,756.31

Greaves Cotton Ltd Information

Stock PE (TTM)
30.29
Promoter Holding
56%
Book Value
62.0789
ROCE
10.25%
ROE
6.59%
Description
  • Greaves Cotton Ltd is in the Capital Goods – Non-Electrical Equipment sector is having a market capitalization worth Rs. 3,002.22 crores, it is incorporated in the year 1922. It has reported consolidated sales of Rs. 228.97 crores in June 2021. The company is listed on the Bombay Stock Exchange (BSE) with the code 501455, and also listed on the National Stock Exchange (NSE) with the code GREAVESCOT.

    Greaves Cotton is involved in the manufacturing and marketing of Cleantech Powertrain solutions (CNG, Petrol, and Diesel Engines), generator sets, farm equipment, aftermarket spares, and services. Greaves has established a network of more than 500 retail outlets and more than 6300 smaller spare part retail outlets. Greaves, along with its subsidiaries, has a total of six manufacturing units in the country. In addition, Greaves ensures quality aftermarket services with the help of 12,000 mechanics spread in various parts of the country. Greaves has a base of 1,101 permanent employees on its payroll. The promoters of the company own 55.63% of the stake, Foreign Institutional Investors (FII) own 4.54% stake in the company, Domestic Institutional Investors (DII) own 11.73% stake in the company, and others (such as public & retail investors) hold the balance of 28.1%.

    In June 2021, quarterly net revenue was Rs. 214.41 crores, which has increased by approximately 45.76 % from Rs. 147.1 crores for the April-June 2020 quarter. The quarterly net loss in June 2021 was Rs. 6.47 crores, which has improved and increased by nearly 73.26% from a net loss of Rs. 24.2 crores in June 2020. In June 2021, the reported operating profit was at Rs. 188.54 crores, which is increased by 55.46% as compared to an operating profit of Rs. 121.28 crores for the quarter ending in June 2020. From a negative EPS of Rs. 1.05 in June 2020, the EPS of Greaves Cotton Ltd has improved and reached a negative EPS of Rs. 0.28 per share in June 2021. GREAVESCOT's stock closed at Rs. 131.30 on 26th August’2021 (NSE). Greaves Cotton Ltd has returned 5.25% negatively in the last six months and returned 46.72% positively in the previous year.

Registered Address

Unit No 701 7th Floor Tower-3, Equinox Business Park Kurla We, Mumbai, Maharashtra, 400070

Tel : 91-22-62211700
Email : investorservices:greavescotton.com
Website : http://www.greavescotton.com
Registrar

Sharepro Services India P Ltd

AGM Date (Month) : Aug
Face Value Equity Shares : 2
Market Lot Equity Shares : 1
BSE Code : 501455
NSE Code : GREAVESCOT
Book Closure Date (Month) : Aug
BSE Group : A
ISIN : INE224A01026

FAQ’s on Greaves Cotton Ltd Shares

You can buy Greaves Cotton Ltd shares through a brokerage firm. ICICIdirect is a registered broker through which you can place orders to buy Greaves Cotton Ltd Share.

Company share prices and volatile and keep changing according to the market conditions. As of May 24, 2024 03:59 PM the closing price of Greaves Cotton Ltd was Rs.129.60.

Market capitalization or market cap is determined by multiplying the current market price of a company�s shares with the total number of shares outstanding. As of May 24, 2024 03:59 PM, the market cap of Greaves Cotton Ltd stood at Rs. 3,006.72.

The latest PE ratio of Greaves Cotton Ltd as of May 24, 2024 03:59 PM is 30.29

The latest PB ratio of Greaves Cotton Ltd as of May 24, 2024 03:59 PM is 0.48

The 52-week high of Greaves Cotton Ltd share price is Rs. 175.70 while the 52-week low is Rs. 121.05

According to analyst recommendations, Greaves Cotton Ltd Share has a "Buy" rating for the long term.

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