March 31, 2022, which was 19 % larger in comparison with identical interval final 12 months. The Profit Before Tax (PBT) earlier than distinctive gadgets was Rs 33 crore.
For FY 2022, the consolidated income was Rs 1,170 crore, a development of 14 % over FY2021 and EBITDA of Rs 27 crore. In This fall FY2022, the corporate noticed sturdy contribution from its new companies (e-mobility) in driving income development with 49 % contribution in FY2022.
Greaves Cotton attributed the YoY development to the accelerated enlargement into the e-mobility enterprise and reorganisation of the two- and three-wheeler e-mobility companies underneath Greaves Electric Mobility and better income contribution from the auto engines enterprise.
During the 12 months the corporate retailed greater than 62,000 EVs, which was 128 % larger albeit a low-year in the past base of retailing greater than 27,000 automobiles. The efficiency was attributed to inexpensive pricing together with credible expertise stack, security observe report and on-ground after gross sales assist. The gross sales development was helped by the abating Covid infections and rebounding shopper demand throughout sectors.
Furthermore, betting on the expansion momentum, Greaves Cotton has augmented its manufacturing capability of e-2W by operationalising the Ranipet plant with the present manufacturing capability of as much as 250,000 automobiles per 12 months and increasing the product portfolio with the introduction of Ampere Magnus EX. The firm has additionally strengthened its presence throughout your entire worth chain of last-mile mobility by launching AutoEVMart, India’s first set of multi-brand EV retail networks.
Nagesh Basavanhalli, MD and Group CEO, Greaves Cotton stated, “The consolidated Q4 results is a clear affirmation of our business strategy to be a leading driver of clean energy solutions in the last mile mobility segment. At Greaves, we have been focused on investing in technology, building capability and capacity, building empowered teams and developing technology enabled processes across all our business value chains to deliver tangible value to both our customers and shareholders. As we look ahead, we will continue to focus on further localising supply chain ecosystem, strong product innovation, powerful brands, enhanced physical and digital distribution network.”
Source: www.financialexpress.com”