On a sequential basis, however, revenue dipped 9% compared to Q4 FY25, even as EBITDA grew 24% and operating PBT rose 62%.

Lower raw material costs (RMC at 64.9% vs 67.4% YoY) and improved cost efficiencies helped lift operating performance.

Parag Satpute, MD and Group CEO, Greaves Cotton said, 'Our Q1 FY26 results highlight the strength of our diversified and resilient business model and our unwavering commitment to operational excellence. Our core business continued to be strong & growing with engines & gensets doing well. Exports continue to be a growing contributor, making up for 14% of our revenues in this quarter. We continue to serve key sectors—ranging from automotive, to marine, agriculture, construction and firefighting, through a robust portfolio of fuel-agnostic engines, and our genset solutions power diverse sectors such as residential & commercial, hospitality, manufacturing, educational institutions, BFSI, retail, & more. We remain committed to meeting evolving customer needs, with versatile fuel-agnostic solutions, and building a resilient, future-ready organisation.'

Looking ahead, Greaves Cotton said it is well-placed to capitalise on growth opportunities in engineering applications and mobility. The company is actively investing in R&D, digitalisation, and global market expansion to fuel its next phase of growth.

Greaves Cotton Limited (GCL), also known as Greaves, is a diversified, multi-product, multi-fuel, and multi-location engineering company. Through its five independent business units—Greaves Engineering, Greaves Electric Mobility, Greaves Retail, Greaves Finance, and Greaves Technologies—Greaves combines agility with strategic focus, delivering innovation and enhancing accessibility for consumers.