Greaves Cotton Share Price Declines 1.42% After Reaching 52-Week High

Greaves Cotton Limited was in focus on Monday. On December 30, 2024, Greaves Cotton share price (NSE: GREAVESCOT) opened at ₹288.70, up from its previous close of ₹281.83. However, at 10:13 AM, the share price of Greaves Cotton was trading at ₹277.82, down by 1.42% on the NSE. Notably, the share price touched its 52-week high at ₹293.03 today.

Recent Developments

Recently, Greaves Cotton Limited announced that GEML announced the filing of its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI), BSE, and NSE on December 23, 2024.

The filing is in connection with the company’s upcoming Initial Public Offering (IPO). The IPO consists of a fresh issue of equity shares amounting to ₹10,000 million and an offer for sale of 51 million equity shares by the company. Additionally, Abdul Latif Jameel Green Mobility Solutions DMCC will offer up to 138.4 million equity shares. This offering is subject to various regulatory approvals, market conditions, and other necessary considerations.

The company remains committed to moving forward with the process, pending the completion of the required regulatory procedures.

About Greaves Cotton Limited

Greaves Cotton is involved in the manufacturing of engines and engine applications. It is also engaged in trading power tillers, spares related to engines, electric vehicles, infrastructure equipment etc.

In Q2 FY25, Greaves Cotton reported consolidated revenue of ₹705 crore, with standalone revenue growing 2% to ₹468 crore. Excel contributed ₹61 crore to the quarterly revenue.

For H1 FY25, consolidated revenue reached ₹1,345 crore, while standalone revenue stood at ₹912 crore, reflecting a 7% year-on-year growth. EBITDA for the first half of FY25 was ₹109 crore, and Profit Before Tax (PBT) on a standalone basis reached ₹106 crore.

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