Greaves reported 30%revenue Growth— at almost Rs 486 crore — in Q3FY22 as against Rs 374 crore in Q2FY22.
EBIDTAfor Q3 FY22 stood at Rs 14 crore.
Greaves’ New Business segments, such as Greaves Non-Automotive and New Mobility Business, have seen increased the growth momentum and a better recovery due to positive demand with 54% contribution in overall business. Greaves non-auto small engines, which are widely utilised in marine, farm, genset, construction and other industrial applications and Greaves Retail business, have reached pre-Covid levels. Auto business continues to face headwinds with de-growth of 76%.
Greaves Electric Mobility Business comprising of Ampere (two-wheelers), ELE e-rickshaw and e-Autos, continues to add significant value with growth of 213% over Q3 FY21, while accounting for 37% in the overall revenue which is a testimony of growing need for affordable and eco-friendly personal mobility solutions.