Greaves Cotton Q4 FY26: ₹1,000 cr revenue, profit slips 6%

What Greaves Cotton reported for March 2026

Greaves Cotton has reported its financial results for the quarter and year ended March 31, 2026, with a mixed picture in the March quarter but a turnaround at the full-year consolidated level. One update said consolidated net profit fell 6.2% year-on-year to ₹23 crore for Q4 FY26, compared with ₹24 crore in Q4 FY25. In the same set of disclosures and summaries shared around the results, quarterly revenue was described as surging to about ₹1,000 crore year-on-year. The earnings announcement came after market hours.

Q4 FY26: Profit and revenue figures in focus

In another detailed financial-results summary for the March 2026 quarter, Greaves Cotton’s consolidated profit for Q4 FY26 was stated at ₹2.20 crore, with consolidated revenue from operations at ₹1,000.26 crore. The same summary also referenced consolidated revenue for the quarter at ₹1,013.36 crore. On the standalone side, the March quarter showed pressure on profit despite a large revenue base.

Greaves Cotton reported standalone net profit of ₹47.75 crore for Q4 FY26, while revenue from operations was ₹697.55 crore. A separate line in the provided material noted standalone revenue of ₹710.88 crore for the quarter, alongside the same ₹47.75 crore profit figure. The standalone profit was stated to be down 22.75% year-on-year.

FY26 consolidated turnaround: profit after a loss in FY25

For the fiscal year ended March 31, 2026, the company’s consolidated performance turned profitable. Greaves Cotton posted consolidated net profit of ₹35.29 crore for FY26, compared with a loss of ₹6.28 crore in FY25. Consolidated total revenue was reported at ₹3,486.61 crore for FY26, up 17.27% year-on-year from ₹2,973.10 crore.

In the company’s consolidated “revenue from operations” line, FY26 revenue from operations was stated at ₹3,436.62 crore, up from ₹2,918.44 crore in FY25. The two revenue figures were presented in the provided material as different labels (total revenue versus revenue from operations), and both point to year-on-year growth.

Standalone FY26: profit rises and revenue expands

On a standalone basis for FY26, Greaves Cotton reported net profit of ₹200.07 crore, up from ₹185.87 crore in FY25. Standalone revenue from operations rose to ₹2,364.56 crore in FY26 from ₹1,988.02 crore in FY25. These figures indicate improvement at the standalone level over the full year, even as the March quarter standalone profit was lower year-on-year.

Owners’ profit, NCI impact, and what it signals

The consolidated results also showed a sharp difference between profit attributable to owners and the impact from non-controlling interests. Profit attributable to the owners of the company for FY26 was stated at ₹107.14 crore, up from ₹58.40 crore in FY25. At the same time, the non-controlling interest recorded a loss of ₹71.85 crore.

This split helps explain why the consolidated profit line can look modest even when the owners’ share of profit has improved. The March quarter’s low consolidated profit number reported in the detailed summary also keeps attention on subsidiary performance and quarter-specific charges.

Exceptional items and EPS: key lines from the statement

The provided consolidated table also highlighted the role of exceptional items. Profit before exceptional items and tax was ₹154.25 crore in FY26 versus ₹70.63 crore in FY25. Exceptional items were shown at (₹39.34) crore for FY26 versus ₹1.87 crore in FY25. Profit or (loss) for the year was ₹35.29 crore in FY26 compared to (₹6.28) crore in FY25.

Earnings per share were also reported higher year-on-year in the consolidated table. Basic EPS stood at ₹4.60 in FY26 versus ₹2.51 in FY25, while diluted EPS was ₹4.56 in FY26 versus ₹2.50 in FY25.

Dividend and audit opinion

Alongside results, the Board recommended a dividend of ₹2 per share. The auditors issued an unmodified opinion on both standalone and consolidated results, as stated in the update.

Stock market reaction on NSE

On the day referenced in the report, shares of Greaves Cotton settled at ₹173.17 on the National Stock Exchange, up 2.81%. The results were released after market hours, which typically means the detailed price reaction would be reflected in the next session.

Key numbers at a glance

Why the March quarter still drew scrutiny

While the full-year consolidated numbers show a clear swing back to profit, the March quarter prints were uneven across lines. The provided material itself flagged that the drop in Q4 standalone profit and the low consolidated net profit raise questions about operational efficiency, subsidiary performance, and the effect of specific provisions on quarterly earnings. Investors typically track whether the quarterly trend begins to align with the improvement implied by full-year profitability.

What to watch next

Greaves Cotton’s FY26 results combine year-on-year revenue growth with a shift to consolidated profit, alongside a dividend recommendation of ₹2 per share. The immediate focus remains on reconciling the March-quarter outcome across standalone and consolidated metrics and monitoring subsequent company disclosures for more detail on quarter-specific drivers.