Greaves Cotton Management Guidance Tracker

7 forward-looking guidance items tracked across 2 quarters.

Revenue

Q3 FY26Organic revenue CAGR target of 16-20%Tracked

Management reiterated its target of 16-20% organic revenue CAGR over the next few years, driven by core strengths, new capabilities, and selective adjacencies.

Capex

Q3 FY26Capex plan of ₹500-700 crore over coming yearsTracked

The company has earmarked ₹500-700 crore for new technologies, product development, and capacity expansion, front-loaded in the first two years.

Q4 FY26Capex of ₹500-700 crore over 5 yearsTracked

Planned capital expenditure of ₹500-700 crore over the next 4-5 years for product development, capability enhancement, and international expansion.

Growth

Q3 FY26Greaves Electric Mobility IPO with ₹1,000 crore primary issueTracked

The DRHP has been approved; the IPO will include a primary issue of ₹1,000 crore to fund growth aspirations of Greaves Electric Mobility.

Q4 FY26Core business growth of 16-18% CAGRTracked

Management reiterated medium-term organic growth guidance of 16-18% for core businesses (energy, mobility, industrial).

Margins

Q4 FY26Core business EBITDA margin of 13-15%Tracked

Target EBITDA margin of 13-15% for core businesses as they scale, with current standalone margin at 13.5%.

Expansion

Q4 FY26Excel 100% acquisition in Q2 FY27Active

The remaining 20% stake in Excel Control Linkage will be acquired in Q2 of FY27, making it a wholly-owned subsidiary.