Greaves Cotton share price today

Greaves Cotton Ltd's share price was ₹205.87 at the close on 4 November 2026. It has been rising for 18 weeks. That is 4.8% above its average price over the last 200 trading days. In the last 52 weeks it traded between ₹127 and ₹264, and at that close it sat 58% of the way up from that low.

A share price tends to move through four phases: moving sideways (stage 1), rising (stage 2), stalling near a high (stage 3) and falling (stage 4). Today Greaves Cotton Ltd is in stage 2. The phase helps read everything below.

Over the past 13 weeks it has done better than the NIFTY 500, and it has stayed ahead for 2 weeks in a row.

Over the last 11 years the share price moved +73% while the NIFTY 500 moved +257%, so it is behind the index over that whole period. The chart above shows the 13-week comparison for every week.

This page treats a rise as over when the price closes below its 200-day average on two Fridays in a row.

2. Revenue up on a year earlier for 8 quarters in a row

   In the September 2026 quarter revenue was ₹1,176 crore, +44.3% on a year earlier.

   Why: Revenue rose because the electric mobility business sold far more two wheelers, with billing more than doubling from a year earlier.

   Next results: check whether the new rare earth free motor starts in two wheelers in Q4 FY27.

   From the earnings call on 29 Oct 2026.

3. Highest quarterly revenue in 16 quarters

   Revenue of ₹1,176 crore in the September 2026 quarter is the highest of the last 16 quarters.

For July to September 2026 (the quarter ended 30 September 2026), Greaves Cotton reported revenue of ₹1,176 crore, up 44.3% from ₹815 crore a year earlier, and a loss of ₹30.0 crore, down 600.0% from ₹6.00 crore.

Greaves Cotton results: July to September 2026 against a year earlier

The next results, for October to December 2026, are due by 14 February 2027: listed companies must publish quarterly results within 45 days of the quarter's end (60 days for the January to March quarter).

Greaves Cotton's management discussed these results on a call held on 29 October 2026; what it said is further down this page.

From the company's reported quarterly results (quarter ended 30 September 2026). Revenue and profit in ₹ crore.

Greaves Cotton closed at ₹205.87 on 4 November 2026, up 1.0% from ₹203.77 a year earlier (7 November 2025) and up 52.2% over five years. Its highest weekly close since February 2016 was ₹288.75 on 7 February 2025.

Greaves Cotton share price: then and now

Weekly closing prices. Each change is the move from that price to the 4 Nov 2026 close. A day's intraday high or low can go beyond these weekly closes.

566 weekly closes from 26 February 2016 to 4 November 2026.

4 Nov 2026: Greaves Cotton closed at ₹205.87, up 3.2% on the week and down 8.9% on the month. 29 Oct 2026: Greaves Cotton held its results call for July to September 2026. Management guided: Pricing actions continuing through rest of year with full company-wide benefit by January to March 2027.

Earlier

• Results for July to September 2026: Revenue up 44.3% and profit down 600.0% on a year earlier.
• 28 Jul 2026: ex-date for a dividend of ₹2 a share.
• Our read, 19 Jul 2026: The core improvement is driven by Energy service integration and Mobility domestic and export mix. GEM is scaling with lower loss per unit, but no profitability timetable is disclosed.

Our read of the business

The core improvement is driven by Energy service integration and Mobility domestic and export mix. GEM is scaling with lower loss per unit, but no profitability timetable is disclosed.

January to March 2026: Revenue and operating profit improved, but net-profit conversion remained weak.

Our read after the January to March 2026 results, written 19 July 2026. The July to September 2026 results are out since, so this part may be out of date until we update it.

Greaves Cotton paid ₹2 a share in regular dividends in the 12 months to 5 November 2026 (1 payment), a yield of 0.97% at the ₹205.87 close on 4 November 2026. The last was a dividend of ₹2 a share, ex-date 28 July 2026.

Greaves Cotton dividends since 1 April 2021

Amounts as the company declared them on the NSE. A dividend goes to whoever owns the shares before the ex-date. The record date is the same day as the ex-date for every payment here.

Yes. Greaves Cotton Ltd paid out 43% of its profit as dividends in FY26, and it paid a dividend in 9 of its last 13 reported years. 3 of those years show a negative figure because profit itself was negative.

From the NSE corporate-actions record, read 5 November 2026.

On the call for July to September 2026, held on 29 October 2026, Greaves Cotton's management guided: Pricing actions continuing through rest of year with full company-wide benefit by January to March 2027.

“Our EBITDA losses per unit in 2-wheeler have come down by 70% in Q2, from roughly 20,000 per unit to less than 6,200 rupees per unit, indicating a strong and quick path to profitability.”Vikas Singh, on the call for July to September 2026

What management guided

• Second-half margin to exceed first-half.
• Operating margin 13-15% over mid to long term.
• Rare-earth-free motor to operate very soon with new two-wheeler introductions in January to March 2027.
• Monthly capacity about 40,000 with about 40% utilization covering needs for next couple years at observed growth.

Management’s own plans and goals, from our notes of the call. A plan is not a result.

Source: the call transcript.

From the call for July to September 2026, 29 October 2026.

What is changing at Greaves Cotton, from the latest results and calls: core operating leverage, energy service integration and mobility and gem scaling.

• Core operating leverage. Growth, mix and cost actions are supporting core operating profit. ⚠ estimate
• Mobility and GEM scaling. Diesel, export and GEM volume gains can improve mix if unit losses keep narrowing. ⚠ estimate

We check 16 kinds of change in every company, such as costs spread over more sales, higher-value products, new orders, new regions or falling debt, against its reported numbers and what management said on its calls. Only changes the numbers back are shown.

Our read after the January to March 2026 results, written 19 July 2026. The July to September 2026 results are out since, so this part may be out of date until we update it.

The case improves if Energy and Mobility sustain growth, GEM losses narrow and operating cash flow covers capital spending without higher debt. It breaks if price pass-through fails, service growth fades, GEM losses persist or cash remains negative while borrowing rises.

Each change stops working if

• Core operating leverage: Core margin contracts despite positive revenue growth and management cannot bridge input costs to pricing.
• Energy service integration: Energy growth slows and aftermarket contribution does not persist ahead of the core business.
• Mobility and GEM scaling: GEM loss per unit stops improving or Mobility loses its domestic and export supports.

The main risks

• Debt-funded cash deterioration: The multi-year cash record is negative after capital spending while debt increased. ⚠ estimate
• Guidance and technology execution: Goals have narrowed and e-powertrain was impaired after earlier commercial commentary. ✓ fact

Our read after the January to March 2026 results, written 19 July 2026. The July to September 2026 results are out since, so this part may be out of date until we update it.

When Greaves Cotton reports October to December 2026, these are the 4 checks that show whether the story is still on course. First: Core margin print next quarter to show sequential improvement from pricing and cost actions - per recovery priority flagged.

Greaves Cotton is not on any of our India lists this week.

Greaves Cotton Ltd posted a net loss of ₹30.0 Cr in the Sep 2026 quarter. Full-year FY26 profit was ₹35.0 Cr. Over 10 years profit has grown −16.0% a year on average. That loss is 2.6% of the quarter's revenue. The same quarter a year earlier earned ₹6.0 Cr. 3 of the last 12 reported quarters were loss-making.

Net profit is what is left after every cost, interest and tax. Earnings per share, dividends and book value all grow from it.

Sep 2026 profit was −₹30.0 Cr, −600.0% on a year earlier.

Why profit moved: revenue changed +44.3% on a year earlier and the margin moved +0.0 percentage points. Sales did the work, and the margin was about flat.

On average over the last four quarters, profit changed −171.4% and revenue +28.3%. Profit is growing slower than sales: rising costs are taking part of the growth.

FY27-Q1. revenue ₹974 Cr and profit ₹6 Cr as reported.

FY27-Q2. revenue ₹1,176 Cr and profit ₹-30 Cr as reported.

Why-sources: our stock research file (19 July 2026) and the company’s own results for those quarters.

Greaves Cotton Ltd reported ₹1,176 Cr of revenue in the Sep 2026 quarter, +44.3% on the same quarter a year earlier. That is the 8th quarter in a row with growth on the year before. Over 10 years it has grown 7.8% a year on average. The last full year, FY26, came in at ₹3,437 Cr.

Revenue is everything the company billed its customers in the period.

Why this happened. Mobility has domestic and export support, while GEM loss reduction has volume and dealer-productivity co-movers. Profitability remains unproven.

The last four reported quarters add to ₹4,025 Cr.

FY26 revenue was ₹3,437 Cr, +17.8% on the year before.

Recent pace: the last four quarters grew +28.3% on average, against 7.8% a year over the longer run, so this year is growing faster than its own long-run rate.

Is growth speeding up? Revenue over the last 12 months grew +28.4%, against +22.5% a year over the last 8 quarters (accelerating).

FY27-Q1. revenue ₹974 Cr and profit ₹6 Cr as reported.

FY27-Q2. revenue ₹1,176 Cr and profit ₹-30 Cr as reported.

Why-sources: our stock research file (19 July 2026) and the company’s own results for those quarters.

Greaves Cotton Ltd's operating margin was 6.0% in the Sep 2026 quarter, about the same as the same quarter a year ago. Across 13 years it has been between 1.5% and 15.0%. The latest quarter is within that range.

Operating margin is what is left from every ₹100 of sales after the costs of running the business, before interest and tax. It shows pricing power and cost control.

Why this happened. Revenue growth supports fixed-cost absorption, while Energy service and Mobility mix corroborate the operating mechanism. Commodity pass-through is the next test.

In the latest quarter it moved +0.0 percentage points on the same quarter a year ago.

Why the margin moved: operating margin changed −0.1 percentage points on the year while gross margin changed −6.4 points. So the drop came mostly from the gross margin, which means input costs and prices charged.

FY27-Q1. revenue ₹974 Cr and profit ₹6 Cr as reported.

FY27-Q2. revenue ₹1,176 Cr and profit ₹-30 Cr as reported.

Why-sources: our stock research file (19 July 2026) and the company’s own results for those quarters.

Over the last 3 years, 0% of Greaves Cotton Ltd's reported profit came in as cash from its operations, a gap worth watching. In FY26 it brought in ₹33.0 Cr of operating cash against ₹35.0 Cr of profit. After ₹159 Cr of spending on assets, free cash was −₹126 Cr: it spent more than its operations brought in.

The profit and loss account shows what was earned. The cash-flow statement shows the cash that actually came in. Comparing operating cash flow with profit is one of the best checks that a profit is real.

Cash-flow figures here are yearly, because quarterly cash statements are not published, so this section changes once a year.

Why 0% of profit came in as cash: the cash cycle stayed about the same between FY21 and FY26, so the cash follows profit, not the cycle. When less than 70% of profit comes in as cash, it is the thing to watch on this page.

What to look at next: the bigger use of cash is spending on new assets, at 2.6× depreciation over three years. The next section checks what that spending is building.

Greaves Cotton Ltd's cash cycle, the days between paying suppliers and getting paid by customers, was −6 days in FY26, up from −11 days in FY21. It spent ₹783 Cr on assets over the last 3 years. Customers take 37 days to pay, and stock sits for 50 days on average.

Working capital is the cash tied up between paying suppliers and getting paid. Debtor days: how long customers take to pay. Inventory days: how long stock sits. The cash cycle: the whole loop, in days of sales.

At FY26 sales of ₹3,437 Cr, each day of that cycle ties up about ₹9.4 Cr, so roughly −₹56.0 Cr is tied up in the business at any time.

FY26: customers took 37 days to pay and stock sat for 50 days, about 1.6 months of sales sitting as stock, for a full cycle of −6 days, longer than FY21's −11.

The full loop: cash goes out to suppliers and production on day 0. Stock sits for 50 days. Customers pay about 37 days after that. Suppliers are paid at 92 days. Together that makes the −6-day cycle.

Spending on assets: ₹783 Cr over the last 3 years, against ₹296 Cr of depreciation (the yearly wear and tear on existing assets). So it is building well beyond replacing what wears out. Work still in progress is ₹64.0 Cr (FY26): assets paid for that are not earning yet.

In short: the cash is going into new capacity, not getting stuck in the daily cycle. The question is whether the new capacity earns.

Greaves Cotton Ltd's P/E is 53.2×, in the middle of its own history: higher than 63% of past readings. Its usual P/E (the middle reading) is 36.5×, over 11 years of weekly prices. This compares the share price with the company’s own past. It does not say what the business is worth.

P/E is the share price divided by a year's profit per share: how many rupees the market pays for each rupee of yearly profit.

The P/E here, and its history, use a profit figure that can leave out one-off items, so it can differ from a P/E worked out on the quarterly results. Those results' earnings per share for the four quarters to Sep 2026 add up to ₹3.39.