Greaves Cotton Ltd, a prominent name in the engineering industry, is a diversified company with a legacy spanning over 165 years since its founding in 1859. Headquartered in Mumbai, Maharashtra, it operates in the industrial machinery and engineering sector and is part of the esteemed Greaves Group. Under the leadership of Karan Thapar as Chairman and Nagesh Basavanhalli as Managing Director and CEO, the company has expanded its reach and influence across India and globally, including regions like the Middle East, Africa, and Southeast Asia. Greaves operates across multiple segments, including Engines, Electric Mobility, Cables, and Control Levers, offering an extensive range of products such as diesel and petrol engines, gen-sets, pump sets, construction and farm equipment, auxiliary power solutions, and aftermarket services. Known for its innovative brands like ELE for e-rickshaws and Ampere for electric 2-wheelers, the company emphasizes quality, customer satisfaction, and sustainability while fostering innovation through continuous research and development. With a strong commitment to environmental stewardship and community well-being, Greaves Cotton Ltd continues to uphold its reputation as a trusted and forward-thinking industrial leader.
| Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | |
| Promoters + | 56.00% | 56.00% | 56.00% | 55.88% | 55.88% |
| FIIs + | 4.57% | 3.18% | 2.81% | 1.15% | 1.04% |
| DIIs + | 3.42% | 3.44% | 3.75% | 3.76% | 3.81% |
| Public + | 35.99% | 37.36% | 37.43% | 39.18% | 39.23% |
| No. of Shareholders | 2,18,731 | 2,11,694 | 2,05,042 | 2,12,801 | 2,02,891 |
The shareholding pattern of Greaves Cotton has shown notable trends over recent quarters, reflecting shifts among various investor categories. As of September 2023, promoters held a consistent 56.00%, maintaining this level until March 2024 before slightly reducing their stake to 55.88% in June and September 2024. Foreign Institutional Investors (FIIs) have steadily decreased their holdings from 4.57% in September 2023 to 1.04% by September 2024. Domestic Institutional Investors (DIIs), on the other hand, exhibited a gradual increase, rising from 3.42% in September 2023 to 3.81% in September 2024, indicating growing confidence from domestic institutions. The public shareholding increased from 35.99% in September 2023 to 39.23% in September 2024, showcasing a rise in retail investor participation. The number of shareholders fluctuated during this period, starting at 2,18,731 in September 2023 and ending at 2,02,891 in September 2024, reflecting minor variations in investor engagement.
Below are the trading platforms that you can use to purchase Greaves Cotton shares:
➤ Zerodha
➤ Upstox
➤ Groww
➤ AngelOne
➤ ICICIDirect
| When | Maximum Price | Minimum Price |
| January 2025 | 281.75 | 216.73 |
| February 2025 | 284.60 | 218.92 |
| March 2025 | 290.58 | 223.52 |
| April 2025 | 287.70 | 221.31 |
| May 2025 | 279.32 | 214.86 |
| June 2025 | 291.89 | 224.53 |
| July 2025 | 286.17 | 220.13 |
| August 2025 | 295.02 | 226.94 |
| September 2025 | 298.56 | 229.66 |
| October 2025 | 306.32 | 235.63 |
| November 2025 | 313.98 | 241.52 |
| December 2025 | 328.11 | 252.39 |
As we move through 2025, Greaves Cotton is expected to witness fluctuating price trends. Starting in January, the maximum price may reach ₹281.75, while the minimum could be ₹216.73. By December, the maximum price is projected to rise to ₹328.11, with a minimum of ₹252.39.
| When | Maximum Price | Minimum Price |
| January 2026 | 337.95 | 259.96 |
| February 2026 | 329.50 | 253.46 |
| March 2026 | 336.09 | 258.53 |
| April 2026 | 342.95 | 263.81 |
| May 2026 | 339.55 | 261.20 |
| June 2026 | 348.04 | 267.73 |
| July 2026 | 341.22 | 262.48 |
| August 2026 | 351.77 | 270.59 |
| September 2026 | 358.81 | 276.01 |
| October 2026 | 368.14 | 283.18 |
| November 2026 | 377.34 | 290.26 |
| December 2026 | 386.77 | 297.52 |
As we step into 2026, Greaves Cotton is anticipated to showcase progressive price movements. Beginning in January, the maximum price is expected to reach ₹337.95, while the minimum may touch ₹259.96. By December, the maximum price could climb to ₹386.77, with the minimum potentially standing at ₹297.52.
| When | Maximum Price | Minimum Price |
| January 2027 | 390.64 | 300.49 |
| February 2027 | 400.66 | 308.20 |
| March 2027 | 416.28 | 320.22 |
| April 2027 | 408.12 | 313.94 |
| May 2027 | 396.23 | 304.79 |
| June 2027 | 414.06 | 318.51 |
| July 2027 | 405.95 | 312.27 |
| August 2027 | 418.50 | 321.92 |
| September 2027 | 433.15 | 333.19 |
| October 2027 | 444.41 | 341.85 |
| November 2027 | 455.52 | 350.40 |
| December 2027 | 466.91 | 359.16 |
| When | Maximum Price | Minimum Price |
| January 2028 | 476.25 | 366.34 |
| February 2028 | 488.46 | 375.74 |
| March 2028 | 507.51 | 390.39 |
| April 2028 | 497.56 | 382.74 |
| May 2028 | 483.06 | 371.59 |
| June 2028 | 504.80 | 388.31 |
| July 2028 | 494.90 | 380.70 |
| August 2028 | 510.21 | 392.47 |
| September 2028 | 528.07 | 406.21 |
| October 2028 | 541.80 | 416.77 |
| November 2028 | 555.34 | 427.19 |
| December 2028 | 569.23 | 437.87 |
| When | Maximum Price | Minimum Price |
| January 2029 | 580.61 | 446.62 |
| February 2029 | 595.50 | 458.08 |
| March 2029 | 618.72 | 475.94 |
| April 2029 | 606.59 | 466.61 |
| May 2029 | 588.92 | 453.02 |
| June 2029 | 615.42 | 473.40 |
| July 2029 | 603.36 | 464.12 |
| August 2029 | 622.02 | 478.47 |
| September 2029 | 643.79 | 495.22 |
| October 2029 | 660.53 | 508.10 |
| November 2029 | 677.04 | 520.80 |
| December 2029 | 693.97 | 533.82 |
| When | Maximum Price | Minimum Price |
| January 2030 | 707.85 | 544.50 |
| February 2030 | 725.99 | 558.46 |
| March 2030 | 754.31 | 580.24 |
| April 2030 | 739.52 | 568.86 |
| May 2030 | 717.98 | 552.29 |
| June 2030 | 750.29 | 577.14 |
| July 2030 | 735.58 | 565.83 |
| August 2030 | 758.33 | 583.33 |
| September 2030 | 784.87 | 603.74 |
| October 2030 | 805.27 | 619.44 |
| November 2030 | 825.41 | 634.93 |
| December 2030 | 846.04 | 650.80 |
In 2030, Greaves Cotton is projected to exhibit significant growth in its price range. As we step into January, the maximum price is expected to reach ₹707.85, while the minimum may stand at ₹544.50. By December, the maximum price is anticipated to rise to ₹846.04, with the minimum potentially settling at ₹650.80.
Financial Condition of Greaves Cotton
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | TTM | |
| Sales + | 1,911 | 1,500 | 1,710 | 2,699 | 2,633 | 2,683 |
| Expenses + | 1,701 | 1,421 | 1,685 | 2,573 | 2,543 | 2,574 |
| Operating Profit | 210 | 80 | 25 | 127 | 91 | 109 |
| OPM % | 11% | 5% | 1% | 5% | 3% | 4% |
| Other Income + | 25 | -26 | 20 | 55 | -270 | 99 |
| Interest | 5 | 7 | 5 | 12 | 9 | 13 |
| Depreciation | 61 | 60 | 59 | 57 | 84 | 101 |
| Profit before tax | 169 | -14 | -19 | 113 | -273 | 95 |
| Tax % | 25% | 36% | 83% | 38% | 34% | |
| Net Profit + | 127 | -19 | -35 | 70 | -367 | 18 |
| EPS in Rs | 5.59 | -0.81 | -1.52 | 3.37 | -5.83 | 3.19 |
| Dividend Payout % | 0% | -25% | -13% | 27% | -34% |
The financial performance of Greaves Cotton over the years reveals a mix of resilience and challenges, reflecting its adaptability to market dynamics. Sales have shown a fluctuating trend, beginning at ₹1,911 crore in March 2020, dropping to ₹1,500 crore in March 2021, then recovering to ₹2,699 crore in March 2023, before settling at ₹2,683 crore in the trailing twelve months (TTM). However, expenses have closely followed sales, with ₹1,701 crore in March 2020 and ₹2,574 crore in TTM, resulting in a narrowing operating profit margin (OPM). The OPM decreased from 11% in March 2020 to 4% in TTM, underscoring rising operational costs.
Other income showed significant volatility, peaking at ₹99 crore in TTM after a major dip to -₹270 crore in March 2024. Interest and depreciation have remained relatively stable, with a slight uptick in TTM. Profit before tax demonstrated a challenging trajectory, starting at ₹169 crore in March 2020 and turning negative at -₹273 crore in March 2024 before improving to ₹95 crore in TTM. Net profit followed a similar pattern, with a high of ₹127 crore in March 2020, falling to -₹367 crore in March 2024, and rebounding to ₹18 crore in TTM.
The company’s EPS (Earnings Per Share) mirrored its profitability trends, with a peak of ₹5.59 in March 2020, dropping to -₹5.83 in March 2024, and recovering to ₹3.19 in TTM. Dividend payouts have also been inconsistent, ranging from 0% to -34%, reflecting financial pressures in certain years. Overall, Greaves Cotton’s financials indicate a business striving to balance growth and operational efficiency amidst a challenging economic environment.
FAQs
What is the current market capitalization of Greaves Cotton?
Greaves Cotton current market capitalization stands at ₹5,488 crore.
As of December 26th, 2024, Greaves Cotton’s share price is ₹240.
Greaves Cotton’s expected share price targets for 2025 range from ₹214.86 to ₹328.11.
Greaves Cotton’s forecasted share price targets for 2030 range from ₹544.50 to ₹846.04.
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Conclusion
In conclusion, Greaves Cotton Ltd demonstrates a legacy of innovation and adaptability in the industrial machinery and engineering sector, leveraging its diversified portfolio and commitment to sustainability. The shareholding patterns highlight stability among promoters and increasing public participation, indicating growing retail investor interest. Price projections suggest consistent growth in the coming years, with the stock expected to rise steadily from ₹281.75 in January 2025 to ₹846.04 in December 2030.
The company’s financial performance reflects resilience despite challenges, with sales recovery post-pandemic and strategic efforts to manage operating costs. While net profits have faced pressure due to rising expenses and volatile other income, the upward trend in recent months suggests a potential turnaround. Greaves Cotton remains a significant player, driven by its innovative brands, global reach, and strong leadership.
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