Buy Greaves Cotton; target of Rs 212: Sharekhan

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26 Aug, 2025 12:21

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Sharekhan's research report on Greaves Cotton

Greaves to be a great beneficiary of faster EV adoption in India, led by its timely investments in the EV segment, compassionate investors and capabilities to increase market share in a highly competitive market. Management remains positive on its diversification strategy and continues to focus on the e-mobility space. Greaves is expected to deliver a 22.3% revenue CAGR during FY2021-FY2024E and see a sharp rise in margins, leading to an earnings CAGR of 113.8%. The stock trades at a valuation of P/E multiple of 25.5x and EV/EBITDA multiple of 12.1x its FY2024E estimates.

Outlook

We maintain Buy on Greaves Cotton Limited (Greaves) with a revised PT of Rs.212, owing to a robust business outlook for its mobility business, expanding retail business and improving traction in the engine business.

More Info

At 11:54 hrs Greaves Cotton was quoting at Rs 171.25, up Rs 2.20, or 1.30 percent.

It has touched an intraday high of Rs 174.00 and an intraday low of Rs 170.05.

It was trading with volumes of 29,841 shares, compared to its thirty day average of 148,389 shares, a decrease of -79.89 percent.

In the previous trading session, the share closed down 2.71 percent or Rs 4.70 at Rs 169.05.

The share touched its 52-week high Rs 258.85 and 52-week low Rs 129.15 on 21 January, 2022 and 20 December, 2021, respectively.

Currently, it is trading 33.84 percent below its 52-week high and 32.6 percent above its 52-week low.

Market capitalisation stands at Rs 3,965.51 crore.

For all recommendations report, click here

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Greaves Cotton - 300822 -khan