Fin Cascade

Prices as of 9 Oct 2026 close · Not investment advice

Greaves Cotton Limited

NSE: GREAVESCOTCompressors, Pumps & Diesel Engines

Share price

₹207.22

-2.07% close of 9 Oct 2026

Market cap ₹4,870 CrP/E 48.9

Price-based ratios (P/B, dividend yield, EV/EBITDA) are as of 8 Oct 2026, the close above is 9 Oct 2026.

Business score

How strong the business is, in one number. The parts behind it are in Pro.

60

out of 100 · worked out 8 Oct 2026

Your ratios

The numbers you want to see first. Tap Edit to change them.

Market cap

₹4,870 Cr

P/E ratio

48.9

P/B ratio

3.4

ROCE

10.1%

ROE

8.1%

Dividend yield

0.9%

Price & valuation chart

How the share price and its valuation have moved. Hover over the chart to see any day. Prices as of the last close.

Prices as of 9 Oct 2026 close52-week high ₹263.6052-week low ₹120.61

Answers

Simple answers to the questions investors ask most, from the company's own numbers.

How fast it has been growing

Sales grew 21.2% over the past year, and 4.7% a year over its longer record. Meanwhile what it keeps of every 100 rupees of sales improved from 2.9% to 6.5% over the last four years.

Whether it grew faster than its sector

It grew 4.7% a year against a sector median of 10.6% — 5.9 percentage points slower.

Room to re-rate, or risk of de-rating

At 49.9× earnings it costs 2.1× the market, which pays 23.9× across 2199 companies we can price. Its own industry sits at 51.7×, across 5 companies. It is against its own five-year median of 54.9×, the 42nd percentile of its own range.

Whether growth justifies the valuation

Priced at 5.0 times its growth rate, on earnings growth of 10%.

Profit growthPrice per ₹1 profitPer 1% growth
Greaves Cotton Limited — this one10%/yr49.9×₹5.0
Cummins India Limited26%/yr53.5×₹2.1
Kirloskar Oil Engines Limited22%/yr55.0×₹2.5
Elgi Equipments Limited11%/yr39.9×₹3.6
Ksb Limited17%/yr51.7×₹3.0
Kirloskar Brothers Limited19%/yr32.9×₹1.7

Compared with companies filed under the same label. That grouping comes from the exchange's filing category, so some of them may not be real rivals.

How it compares with its peers

Against companies the exchange files under the same label (Compressors, Pumps & Diesel Engines), it ranks 13 of 14 on returns, 13 of 13 on growth, 13 of 14 on margin. That grouping comes from the exchange's filing category, so some of them may not be real rivals.

What makes it hard to beat — and is that still true?

No durable advantage shows in the numbers: it earns 10.1% on capital, ahead of 7% of companies filed under the same label. That grouping comes from the exchange's filing category, so some of them may not be real rivals.

Whether its growth pays for itself

No — Over the last five years the business itself consumed ₹334 crore of cash before any plant spend, funded from lenders and shareholders. And the profit is real: of every 100 rupees it reported over 12 years, about 143 arrived as cash (before interest, which is why it can exceed the profit). Its cash comes back more slowly than it used to: it went from being paid 9 days before it paid its own suppliers to waiting 19 days for its cash.

Profit reality check

Is the profit real cash? Simple checks on the accounts. Facts only, not advice.

8 of 9 checks clear · 89%

Latest result · Q1 FY27

What the last results showed. Whether management kept its word is in Pro.

Revenue up 31% but profit down 70% on investment spending and costlier inputs

Announced 4 Aug 2026 · Consolidated · Unaudited

Revenue

₹974 Cr

Revenue vs last year

+30.7%

Revenue vs last quarter

-2.6%

Net profit

₹6 Cr

Profit vs last year

-70.5%

Profit vs last quarter

+180.0%

Net margin

0.6%

EPS

₹1.11

Earnings call transcript · 5 Aug 2026

Checklist before you investPRO

Points for and against, in one list.

Key numbers & peers

The main numbers grouped by topic, and how the company compares with similar ones.

Price

Market cap
₹4,870 Cr
Prev close
₹207.22
52w High
₹272
52w Low
₹120
Enterprise value
₹4,639 Cr
Beta
1.7
Price CAGR 1y
2.0%
Price CAGR 3y
17.0%
Price CAGR 5y
9.0%
Price CAGR 10y
5.0%

Ratios

Return on assets
1.2%
PEG ratio
4.8
P/E ratio
48.9
P/B ratio
3.4
EV / EBITDA
19.5
Industry P/E
40.3
ROCE
10.1%
ROCE 5y average
5.4%
ROE
8.1%
Debt / Equity
0.3
Interest coverage
5.4
Dividend yield
0.9%
ROE 3y average
5.0%
ROE last year
8.0%

Annual P&L

Annual revenue
₹3,437 Cr
Annual profit
₹35 Cr
Operating margin
7.0%
Net profit margin
1.0%
EBITDA margin
7.0%
Sales growth 3y
8.4%
Sales growth 5y
18.0%
Profit growth 3y
10.0%
Profit growth 5y
27.0%
EPS
₹4.6
Sales growth TTM
21.0%
Profit growth TTM
49.0%
Dividend payout
43.0%

Quarter P&L

Sales latest quarter
₹974 Cr
Profit latest quarter
₹6 Cr
YoY quarterly sales growth
30.7%
YoY quarterly profit growth
-70.5%
OPM latest quarter
5.8%

Balance Sheet

Book Value
₹60.9
Face Value
₹2.0
Total debt
₹394 Cr
Total cash
₹564 Cr
Borrowings
₹394 Cr
Reserves / Equity
29.4

Cash Flow

Operating cash flow
₹33 Cr
Free cash flow
-₹61 Cr
FCF yield
-1.8%
Net cash flow
₹56 Cr

Shareholding

Promoter holding
55.8%
FII holding
1.4%
DII holding
4.2%
Public holding
38.7%

Peer comparison

CompanyPrice ₹P/EMkt cap ₹ CrDiv yield %Profit qtr ₹ CrProfit var %Sales qtr ₹ CrSales var %ROCE %
Cummins India4,872.2055.41,35,0571.35609.32.53,426.017.939.5
Kirloskar Oil2,230.8057.032,4730.31111.1-17.11,999.513.514.6
Elgi Equipments602.0541.119,0800.45103.327.01,062.222.622.1
KSB801.5053.213,9490.5557.2-18.8690.73.624.7
Kirl. Brothers1,712.8033.613,6010.4167.6-0.51,104.912.920.4
Ingersoll-Rand4,115.3047.312,9911.8270.519.5379.520.357.1
Kirl.Pneumatic696.1533.19,0450.8634.121.4300.310.430.3
Greaves Cotton212.0049.64,9390.946.2-22.7974.130.710.1
Median748.8341.87,2830.4354.86.8639.619.122.9

Competes with: Cummins India Limited, Elgi Equipments Limited, Ingersoll Rand (India) Limited, Kirloskar Brothers Limited, Kirloskar Oil Engines Limited, Kirloskar Pneumatic Company Limited, Ksb Limited

Quarterly results

Sales and profit for each of the last 13 quarters. Newest on the right. ₹ crore.

Consolidated · to 30 Jun 2026
Line itemJun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales5697276656736407057518237458158751,000974
Expenses583681630649612682711777689764813932918
Material Cost499448521549618669
Change in Inventories0.510.31-16-2.8143-25
Purchases of Stock-in-Trade683534383428
Employee Cost80901019490103
Other Expenses129114123135147143
Operating Profit-14463524272340465752626856
OPM %-2.536.325.313.534.273.275.295.567.646.367.106.825.78
Other Income22-3656211179.481812186.85-11-2.8811
Exceptional items (within Other Income)0-0.52-3.58-19-160
Interest1.712.212.273.042.944.273.155.924.874.836.379.9812
Depreciation17192028262626252727282828
Profit before tax-10-341743.49151.8129274327172827
Tax %139103948310189277945277669277
Net Profit-25-37546-13-0.16-146.681.53216.325.922.206.16
EPS in Rs-0.22-8.222.500.110.440.140.901.031.421.121.100.971.11
Diluted EPS in Rs1.031.421.111.090.961.10

Profit & loss

Yearly sales, costs and profit for 12 years, plus the last 12 months (TTM). ₹ crore.

Consolidated · to 31 Mar 2026
Line itemMar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales1,6981,6161,6341,7922,0151,9111,5001,7102,6992,6332,9183,4373,665
Expenses1,5051,4131,3951,5371,7431,7011,4211,6852,5732,5432,7823,1973,427
Material Cost1,8542,137
Change in Inventories-3525
Purchases of Stock-in-Trade169141
Employee Cost325375
Other Expenses470520
Operating Profit192203240255272210802512791137239238
OPM %11131514141151.504.703.404.7077
Other Income-3113856932425-262055-27056104
Exceptional items (within Other Income)1.87-39
Interest21114575129162633
Depreciation48464752526160595784103109110
Profit before tax111294249295240169-14-19113-2737311599
Tax %2532273232253683383410969
Net Profit84201181202163127-19-3570-367-6.283521
EPS in Rs3.428.237.408.286.745.59-0.81-1.523.37-5.832.514.604.30
Diluted EPS in Rs2.504.56
Dividend Payout %7367746659-0-25-1327-348043

Compounded growth

Average yearly growth over different spans, as stored. A span can cross a demerger or an acquisition.

Compounded sales growth

10 years
8%
5 years
18%
3 years
8%
TTM
21%

Compounded profit growth

10 years
-3%
5 years
27%
3 years
10%
TTM
49%

Stock price CAGR

10 years
5%
5 years
9%
3 years
17%
1 year
2%

Return on equity

10 years
8%
5 years
4%
3 years
5%
Last year
8%

Balance sheet

What the company owns and what it owes, at the end of each year. ₹ crore.

Consolidated
Line itemMar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital494949494946464646464747
Reserves7748428769169207537367031,5401,3941,3591,384
Borrowings-0-0-0-0112820257288181394
Other Liabilities3012863253814744134776291,1039231,0441,041
Minority Interest18083
Total Liabilities1,1241,1771,2501,3461,4541,2401,2801,6352,7182,4442,5312,866
Fixed Assets326283292278339380372364369825846875
CWIP82415287269758283634364
Investments293362411506420311612315712167
Other Assets4975075325356247888321,1742,1431,4001,5211,861
Total Assets1,1241,1771,2501,3461,4541,2401,2801,6352,7182,4442,5522,894

Cash flows

Real money coming in and going out each year — from the business, from investments and from loans. ₹ crore.

Consolidated
Line itemMar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity225230114280145102147-56-135-153-2333
Cash from Investing Activity-179-7036-9738255-108-238-758246126-99
Cash from Financing Activity-60-166-148-162-174-241-20210889-32-116123
Net Cash Flow-14-62201011619-84-461-1356
Free Cash Flow1812511152787240106-24-206-225-98-61

Ratios

How fast customers pay, how long stock sits, and how well capital earns — year by year.

Consolidated
Line itemMar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days504560516249514022334237
Inventory Days343845333554595640566250
Days Payable46687682868312011082789692
Cash Conversion Cycle37152921220-11-14-19108-6
Working Capital Days334439221723-5-99641019
ROCE %2128232324183-194510

Shareholding pattern

Who owns the company — founders (promoters), foreign funds, Indian funds and the public. In %.

Consolidated · to 30 Jun 2026
Line itemSep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Promoters565656565656565656565656
FIIs4.573.182.811.151.042.412.862.452.642.251.851.35
DIIs3.423.443.753.763.813.503.313.523.804.083.674.17
Public363737393938383838383939
No. of Shareholders2,18,7312,11,6942,05,0422,12,8012,02,8912,64,7453,01,5093,01,4743,02,2263,31,6123,69,1413,47,238

Price trend

The price as a Renko brick chart: small moves drop out so the bigger path stands out.

Change over 1 year -0.7% (₹208.78 → ₹207.22)Brick size ₹9.14 (fixed)Bricks 35
₹150₹250₹207Nov '25Feb '26May '26Aug '26
Price moved up one brickPrice moved down one brickLast close ₹207.22 on 9 Oct 2026

Every brick is the same size, about one typical day's move. A new brick needs a full brick's move; turning the other way needs two. Bricks show where the price went, not where it will go.

Open interestPRO

Where option traders are positioned on this stock.

Industry numbers

The numbers that matter most in this industry, from the company's own filings.

1 when an audit qualification is filed as repetitive

0.00flag

2026-03-31

the company's own unlisted debt securities in default at period end

0.00cr

2026-06-30

exports as % of revenue

13.00pct

2026-06-30

the company's own loans / revolving facilities in default at period end (standalone filing)

0.00cr

2026-06-30

own market share %

5.60pct

2026-06-30

net debt from the filed balance sheet at the newest year end: Borrowings − Cash Equivalents − Investments (Current); negative = net cash

-230inr_cr

2026-03-31

guarantees / comfort given for promoter, promoter group, directors and KMP

0.00cr

2026-03-31

loans outstanding to promoter, promoter group, directors and KMP (governance filing)

0.00cr

2026-03-31

security given for the borrowing of promoter, promoter group, directors and KMP

0.00cr

2026-03-31

FY revenue / permanent employees + workers, same basis (calc)

1,98,09,798inr

2026-03-31

News

News and filings about Greaves Cotton Limited. Open one to see why it matters.

No recent news for this company.

Supply chain

Who it buys from, sells to and competes with — as recorded in our map of company links.

Uses as raw material

  • alloy steel and aluminium bronze bars
  • aluminium crank cases / alloy castings
  • bearings
  • cylinder heads, cam shafts, crank shafts, connecting rods
  • electric motors and starters
  • pistons, flywheels, fuel pumps, injectors
  • sheet-metal panels and fuel tanks
  • steel forgings, castings and shafts

Depends on the price of

  • aluminium
  • steel

Buys from

Sells to

  • Atul Auto Limited · BS-VI fuel-agnostic (diesel/petrol/CNG) three-wheeler powertrains
  • Ligier Group · Euro V+ single-cylinder engines for microcars / quadricycles (export partnership)
  • Mahindra & Mahindra · single-cylinder BS-VI engines / powertrains for three-wheelers (single-source supplier)
  • Piaggio Vehicles · diesel engines for Ape three-wheelers and small commercial four-wheelers
  • TVS Motor Company · single-cylinder engines / powertrains for two- and three-wheelers
  • Tata Motors Limited · 600cc small diesel/CNG engines for Ace Zip small commercial vehicle

About

What the company is, from our own records: where it sits, where it makes things, and what it is made of.

Sector
Capital Goods
Industry
Compressors, Pumps & Diesel Engines
Classification
Capital Goods › Compressors, Pumps & Diesel Engines
ISIN
INE224A01026

Business segments

  • a. Engines · 64%
  • b. Electric Mobility & Other Vehicles · 23%
  • c. Cables & Control Levers · 7%
  • d. Others · 6%

Plants

  • Auxiliary Power Business - Genset Unit
  • Gummidipoondi Plant
  • Industrial Engine Unit · Aurangabad / Chhatrapati Sambhajinagar, Maharashtra
  • Light Engine Unit-I · Aurangabad / Chhatrapati Sambhajinagar, Maharashtra
  • Light Engine Unit-V · Aurangabad / Chhatrapati Sambhajinagar, Maharashtra

News impact

Big market events that reach Greaves Cotton Limited, and how the effect spreads.

Who it hits first

  • KSB Limited, which makes pumps and valves, won a Rs118 crore export order from Dangote Projects Free Zone for boiler feed pump packages.
  • The pumps will be used in fertilizer and energy plants, with delivery planned from September 2027 to March 2028.
  • KSB shares jumped nearly 10% on September 30 as investors cheered the win and stronger export outlook.

Who may gain

  • KSB Limited (pump and valve maker) — gets the Rs118 crore order directly and stronger export credentials in fertilizer and energy.
  • Shakti Pumps, Kirloskar Brothers and Oswal Pumps (pump makers) — benefit because the win shows healthy overseas demand for Indian pumps.
  • Elgi Equipments, Ingersoll Rand India and Kirloskar Pneumatic (compressor and equipment makers) — see only a mild lift in mood as other factory-equipment makers.

Along the supply chain

Downstream

Dangote Projects Free Zone is the end user and will install the boiler feed pumps in its fertilizer and energy plants; KSB's domestic customers NTPC Limited (power generator) and Indian Oil Corporation (oil refiner and fuel seller) get no direct benefit from this export order.

Upstream

KSB's two listed suppliers, DISAQ and INVPRECQ, provide parts and materials for its pumps, so building Rs118 crore of boiler feed pumps for September 2027 to March 2028 could modestly lift their component orders.

Where demand moves

Business

Dangote Projects Free Zone, which runs fertilizer and energy plants, needs boiler feed pumps and has asked KSB Limited to build Rs118 crore worth, lifting KSB's order book and export sales from September 2027 to March 2028.

Capital

Investors rushed to buy KSB shares on September 30, pushing the price up nearly 10%, and some buying may spill over to other pump makers like Shakti Pumps and Kirloskar Brothers; power and fuel buyers gain no new money flow from this export win.

How it spreads across sectors

Capital Goods

Positive — a Rs118 crore export pump win shows healthy overseas demand for Indian pumps and factory equipment, lifting mood for pump makers.

Chemicals

Neutral to mildly positive — fertilizer-linked equipment demand is encouraging, but chemical makers get no direct orders from this win.

Power

Neutral — power generators buy pumps but gain nothing directly from KSB's Dangote export order.

A pattern seen before

Cascade chain

Pattern name

Crude Oil Cascade

Patterns

  • Crude Oil Cascade

Sectors queried

  • Cement
  • Chemicals
  • FMCG
  • Power

When it plays out

Immediate

In the next 1 to 7 days KSB holds most of its nearly 10% jump with some profit-taking, while pump makers see mild sympathy buying.

Medium term

Over 1 to 6 months focus shifts to execution — parts buying from suppliers and progress toward September 2027 delivery — and any follow-on Dangote or fertilizer orders would extend gains.

Short term

Over 1 to 4 weeks analysts size the Rs118 crore order against KSB's order book, and peers trade on export hopes without new wins of their own.

Dividends, splits & big trades

Money paid out, share splits and buybacks, and big buys or sells by funds and insiders.

Dividends

28 Jul 2026unspecified₹2
23 Jul 2025unspecified₹2
1 Aug 2024unspecified₹2
3 Aug 2023unspecified₹0.9
3 Aug 2022unspecified₹0.2
3 Aug 2021unspecified₹0.2
13 Feb 2019interim₹4
3 Aug 2018unspecified₹1.5

Splits, bonuses & buybacks

  • daily-prices repair: 9 rows from NSE's archive (replace 1, delete 1, insert 7), 2016-10-30..2026-02-01 (docs/flat_day_repair.md)1× · 30 Oct 2016

Documents

Annual reports, results presentations and earnings calls, straight from the source.

Facts from company filings and exchange data. Not investment advice: nothing here tells you to buy or sell.