New growth levers contribute 20% to topline
Greaves Cotton Ltd., one of India’s leading engineering companies, reported a 1% growth in revenue for H1FY20 at Rs. 967 crores as against Rs. 953 crores in H1FY19 despite the challenging industry scenario. EBIDTA is at Rs. 120 crores in H1FY20 as against Rs. 134 crores in H1FY19.
PBT before exceptional items is at Rs. 106 crores in H1FY20 as against Rs. 130 crores in H1FY19. PAT is at Rs. 83 crores in H1FY20 as against Rs. 89 crores in H1FY19.
Q2FY20 revenue was at Rs. 490 crores as against Rs. 495 crores in Q2FY19. EBIDTA was at Rs. 59 crores in Q2FY20 as against Rs. 73 crores in Q2FY19. PAT was at Rs. 45 crores in Q2FY20 as against Rs. 49 crores in Q2FY19. This includes provision of Rs. 9 crores on account of doubtful debts (post tax impact of Rs. 6.9 crores).
Commenting on the company performance, Nagesh Basavanhalli, MD and CEO, said: “The current economic conditions continue to remain challenging. Despite current economic scenario, our new growth levers and diversified portfolio has helped in sustaining growth in H1. We are cautiously optimistic of growth as and when the market conditions improve.”