Tuesday, October 26, 2021

Greaves Cotton Q2FY22 Jumps | E-mobility biz records Zooms | Outlook

  


Greaves Cotton logs 13% yoy growth in Q2 revenue to Rs374cr, E-mobility biz records higher sales

The company's e-mobility arm, Greaves E-mobility business recorded higher sales in Q2 FY22 when compared with Q2 FY21, with 111% revenue growth.


Greaves Cotton announced Q2 FY22 results with revenue growth at 13% at Rs. 374 Crore in Q2 FY22 as against Rs. 330 crores in Q2FY21. Normalized EBIDTA (without one- time costs) is at Rs. 3 crores in Q2FY22. Revenue grew by 63% compared to Q1FY22.

The company's e-mobility arm, Greaves E-mobility business recorded higher sales in Q2 FY22 when compared with Q2 FY21, with 111% revenue growth. As a result of this progress, the company now has over 100,000 EV consumers & growing month-over-mont across India and is one of the fast-growing EV brands in the country. Moreover, October witnessed highest sales numbers for Greaves Electric Mobility standing at 5,000 units as on 25th Oct’21 & exceeded 500 retails in one day.


Stock Outlook

Still long to short term is weak , avoid will be better . Enter in stock near range of 124- 118 levels.



Disclaimer- The information on this blog are based on my personal opinion and experience, it should not be considered professional financial investment advice and in no way it should be considered as a tip. We does not take any compensation of any kind whatsoever from any reader, user and company that are mention on this website. We are not SEBI registered financial advisor or analyst.


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