Greaves Cotton Limited has informed the Exchange regarding Change in Director(s) of the company.
GREAVESCOT · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Greaves Cotton reported strong Q1 FY26 results with standalone revenue from operations rising to Rs 540.54 crore (up ~21% from Rs 444.87 crore a year ago) and standalone net profit jumping to Rs 56.64 crore from Rs 36.55 crore, a ~55% increase. On a consolidated basis, revenue grew to Rs 745.43 crore and profit attributable to owners tripled to Rs 33.09 crore, with the Engines segment driving profitability. The Board appointed Mr. Jehangir Ardeshir (ex-Tata Steel, former Group CEO of Forbes Marshall) as an Additional Independent Director for five years from August 1, 2025. It also accepted the resignation of Mr. Firdose Vandrevala as Independent Director effective October 14, 2025, citing his upcoming 75th birthday, with no material reasons stated. The filing also flagged ongoing progress toward the Rs 1,000 crore IPO of subsidiary Greaves Electric Mobility Limited (GEML), which repaid Rs 42.67 crore of loan and Rs 18.37 crore of interest to MLR Auto's investors during the quarter.
Strong Q1 earnings, especially in the core Engines business, should be viewed positively by shareholders. The independent director changes appear routine – a planned exit due to age and a replacement with a seasoned industry veteran – and are unlikely to materially affect stock price. Watch for the GEML IPO, which could unlock value for parent shareholders.