Engineering company Greaves Cotton Limited has reported an 11 per cent growth in revenue for FY19 at Rs 1,988 crore as against Rs 1,792 crore in FY18. EBIDTA for the year grew by 8 per cent at Rs 275 crore in FY19 as against Rs 255 crore in FY18. PBT before exceptional items grew by 7 per cent at Rs 264 crore in FY19 as against Rs 247 crore in FY18.
Profit After Tax has shown a drop of Rs 34 crore in FY19 mainly due to higher exceptional income in the previous year of Rs 48 crore against exceptional loss of Rs 18 crore in FY19. Current year exceptional loss includes provision on account of IL&FS.
Commenting on the consistent quarter-on-quarter growth performance, Nagesh Basavanhalli, Managing Director & CEO, Greaves Cotton said, “FY19 performance has progressed as per our strategic plan. Our growth is the result of our strong execution of strategic business plan. The new business growth focuses on Cleantech products & services, expanding Greaves retail footprint, ramping up of multibrand spares portfolio which has led to strong growth of overall business results. We remain committed in creating a foundation for sustainable growth & deliver higher value to all our stakeholders.”
Q4 FY19 Revenue grew by 9 per cent at Rs 528 crore as against Rs 486 crore in Q4 FY18. EBITDA for the quarter ended March 31st, 2019 remained flat at Rs 70 crore. PAT was at Rs 37 crore (includes provision on account of IL&FS Rs 15.5 crore) as against Rs 57 crore in Q4 FY18 (includes exceptional income of Rs 13 crore).