Greaves Cotton rises on recording exponential growth in non-automotive business in Q4FY21
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Greaves Cotton is currently trading at Rs. 131.75, up by 0.85 points or 0.65% from its previous closing of Rs. 130.90 on the BSE.
The scrip opened at Rs. 132.40 and has touched a high and low of Rs. 133.10 and Rs. 130.90 respectively. So far 35154 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 158.00 on 09-Mar-2021 and a 52 week low of Rs. 66.00 on 02-Nov-2020.
Last one week high and low of the scrip stood at Rs. 137.95 and Rs. 128.00 respectively. The current market cap of the company is Rs. 3054.24 crore.
The promoters holding in the company stood at 55.63%, while Institutions and Non-Institutions held 17.97% and 26.40% respectively.
Greaves Cotton has seen an exponential growth in its non-automotive business, with revenue from the segment jumping 76 percent in the fourth quarter of last fiscal (Q4FY21) despite the pandemic. The growth is a result of the group's diversification strategy to venture into newer and less explored non-automotive business segments, which have emerged as the key growth driver for the company.
The company accelerated the non-automotive business and has seen impressive growth year-on-year. As per the Q4-FY21 results, the non-auto small engine business grew by 32 per cent and genset business by 49 percent over the year-ago period. The industrial engine and light equipment segments too have been growing steadily.
Greaves Cotton commonly known as Greaves is one of the leading and diversified engineering companies in India with a rich legacy and brand trust of over 160 years impacting a million lives every day.
