- Achieved 76% revenue growth in Q4-FY21
Mumbai, May 21st : Greaves Cotton, one of the leading diversified engineering companies in the country, has seen exponential growth of its Non-Automotive business, with its widespread presence in multiple applications across various sectors. The Non-Automotive business revenue grew by 76% in the recent Q4-FY21.
The company accelerated the non-automotive business and has seen impressive growth year-on-year. The Non-Automotive Business includes non-auto small engine (NASE); Industrial Engines, Smart Genset to Light equipment like Pumpset, Light-Agri equipment, Light Construction equipment and Industrial equipment. As per the last Q4-FY21 results, the NASE business grew by 32%, Genset business grew by 49% when compared with Q4-FY20. The Industrial Engine and Light Equipment segments too have been growing steadily.
Speaking on this growth, Sunil Shahi, CEO, Non-Auto Business, Greaves Cotton, said, “Company’s non-automotive segment has achieved significant revenue growth for Greaves even during pandemic. We have developed versatile applications based on our engines. Last quarter, we contributed significantly to help the society in dealing with COVID crisis, through critical installations at hospitals & COVID care centers.”
This growth is a result of Greaves diversification strategy to venture into newer and less explored non-automotive business segments, which has emerged as the key growth driver for the company. The company has developed customer–centric applications on a varied HP range of reliable & affordable Greaves engines, which enjoys legendary trust & assurance from millions of users in automotive sectors over several decades. The nation-wide aftermarket support – service & parts support uninterrupted operations for these applications.
Greaves non-automotive industrial engines have been tried & trusted across multiple small & big applications. They include agriculture, construction, marine, firefighting, gardening and micro-irrigation with power capacity ranging from 1.5 HP to 700 HP. These fuels efficient, reliable, compact yet heavy-duty engines can also find their usage in road cleaning machines used in the municipal applications as part of Swachh Bharat drive. Greaves engines find usage in multipurpose prime movers for various non-auto applications with air and water-cooled options to improve efficiency and ensure product longevity. With increasing demand for mechanization, need to do things faster & at substantially lesser cost outlay, Greaves engines have found a perfect fit in numerous applications from standpoint of savings, efficiency & dependable performance. Greaves engines have not just mobilized India across cities, rural & small towns but has also become a significant accelerator of varied small business & applications.