Greaves Cotton soars after good Q2 outcome

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Greaves Cotton rose 11.95% to Rs 140.50 at 14:50 IST onBSE after net profit rose 100% to Rs 54 crore on 3.63% decline in revenue to Rs 425 crore in Q2 September 2015 over Q2 September 2014.

The result was announced during trading hours today, 2 November 2015.

Meanwhile, the BSE Sensex was down 194.27 points, or 0.73%, to 26,462.56.

On BSE, so far 3.63 lakh shares were traded in the counter, compared with an average volume of 30,093 shares in the past one quarter.

The stock hit a high of Rs 144.80 and a low of Rs 123.50 so far during the day. The stock hit a 52-week high of Rs 159.35 on 12 January 2015. The stock hit a 52-week low of Rs 115.30 on 29 September 2015.

The stock had underperformed the market over the past one month till 30 October 2015, sliding 2.60% compared with 1.92% rise in the Sensex. The scrip had also underperformed the market in past one quarter, sliding 8.23% as against Sensex’s 3.78% decline.

The large-cap engineering company has an equity capital of Rs 48.84 crore. Face value per share is Rs 2.

Greaves Cotton’s EBITDA (earnings before interest, taxes, depreciation and amortization) rose 35.71% to Rs 76 crore in Q2 September 2015 over Q2 September 2014. EBITDA margins were reported at 17.9% in Q2 September 2015 compared with 12.8% in Q2 September 2014.

Greaves Cotton, a Rs 1700 crore, multi-product, multi-locational company is one of the leading engineering companies in India with core competencies in diesel/petrol engines, farm equipment and gensets. The company sustains its leadership through seven manufacturing units which produce world class products backed by comprehensive marketing and service/parts network.

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