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Last Updated: April 2, 2026, 2:59 am
Author: Getaka|Social: XLinkedIn
Stock Ticker - BSE: 501455 | NSE: GREAVESCOT

Greaves Cotton Ltd: Intrinsic Value & Share Price Analysis

Fair Value

₹55.63Overvalued by 57.53%vs CMP ₹131.00

P/E (28.2) × ROE (4.1%) × BV (₹59.10) × DY (1.52%)

₹70.53Overvalued by 46.16%vs CMP ₹131.00
MoS: -85.7% (Negative)Confidence: 59/100 (Moderate)Models: 1 Fair, 7 Over
ModelCategoryValueWeightSignal
PE-ROEEarnings₹82.5427%Over (-37%)
Graham NumberEarnings₹78.8016%Over (-39.8%)
DCFCash Flow₹28.8513%Over (-78%)
Net Asset ValueAssets₹58.939%Over (-55%)
EV/EBITDAEnterprise₹115.4111%Over (-11.9%)
Earnings YieldEarnings₹46.709%Over (-64.4%)
ROCE CapitalReturns₹18.559%Over (-85.8%)
Revenue MultipleRevenue₹124.967%Fair (-4.6%)
Consensus (8 models)₹70.53100%Overvalued
Key Drivers: EPS CAGR 48.4% lifts DCF — verify sustainability. | ROE 4.1% is below cost of equity.

PE-ROE · Graham · EPV · DCF · NAV · EV/EBITDA · DDM · Earnings Yield · ROCE Capital · Revenue Multiple | CoE: 12% · Terminal: 4% · EPS CAGR: 48.4%

*Investments are subject to market risks

Investment Snapshot

55
Greaves Cotton Ltd scores 55/100 (Average)
Based on 5 dimensions: health, institutional flow, earnings quality, momentum, and peer comparison
Stock Health46/100 · Moderate
ROCE 5.1% WeakROE 4.1% WeakD/E 0.00 Low debtInterest Coverage 0.0x RiskyProfitable 1/5 years Inconsistent
Smart Money65/100 · Strong
FII holding stable No changeDII holding up 0.77% MF buyingPromoter holding at 55.8% Stable
Earnings Quality50/100 · Moderate
OPM stable around 4% Steady
Quarterly Momentum90/100 · Strong
Revenue (4Q): +17% YoY GrowingProfit (4Q): +99% YoY StrongOPM: 6.4% (up 3.1% YoY) Margin expansion
Industry Rank30/100 · Weak
P/E 28.2 vs industry 35.8 In-lineROCE 5.1% vs industry 28.2% Below peersROE 4.1% vs industry 22.6% Below peers3Y sales CAGR: 19% Moderate

Weights: Health 30% · Earnings Quality 25% · Momentum 20% · Industry Rank 15% · Smart Money 10%. Scores are computed from reported financials and recalculated daily. Not investment advice.

Share Price and Basic Stock Data

Last Updated: April 2, 2026, 2:59 am

Market Cap 3,059 Cr.
Current Price 131
Intrinsic Value₹70.53
High / Low 245/120
Stock P/E28.2
Book Value 59.1
Dividend Yield1.52 %
ROCE5.13 %
ROE4.11 %
Face Value 2.00
PEG Ratio0.58

Stock P/E, Current Price, and Intrinsic Value Over Time

View Share Price Target for Greaves Cotton Ltd

Competitors

Stock Name ⇩Market Cap ⇩Current Price ⇩High / Low ⇩Stock P/E ⇩Book Value ⇩Dividend Yield ⇩ROCE ⇩ROE ⇩Face Value ⇩
Greaves Cotton Ltd 3,059 Cr. 131 245/12028.2 59.11.52 %5.13 %4.11 % 2.00
Swaraj Engines Ltd 4,157 Cr. 3,421 4,726/3,30021.9 3233.05 %56.2 %41.9 % 10.0
Kirloskar Oil Engines Ltd 19,871 Cr. 1,367 1,530/57836.6 2320.48 %13.7 %15.4 % 2.00
Cummins India Ltd 1,27,764 Cr. 4,609 4,987/2,58056.5 2651.12 %37.6 %28.8 % 2.00
Industry Average38,712.75 Cr2,382.0035.80219.781.54%28.16%22.55%4.00

All Competitor Stocks of Greaves Cotton Ltd

Quarterly Result

MetricSep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025
Sales 698.81513.51826.94568.59726.69665.38672.53639.70705.31750.60822.83745.43815.46
Expenses 657.18511.95779.78583.00680.79630.02648.79612.41682.28710.93777.09688.50763.58
Operating Profit 41.631.5647.16-14.4145.9035.3623.7427.2923.0339.6745.7456.9351.88
OPM % 5.96%0.30%5.70%-2.53%6.32%5.31%3.53%4.27%3.27%5.29%5.56%7.64%6.36%
Other Income 14.8117.1411.7822.44-365.0661.5810.9716.969.4817.8112.2817.526.85
Interest 2.102.371.151.712.212.273.042.944.273.155.924.874.83
Depreciation 14.0113.1415.2016.7319.1520.3328.1826.0526.4325.7325.2726.5626.95
Profit before tax 40.333.1942.59-10.41-340.5274.343.4915.261.8128.6026.8343.0226.95
Tax % 19.91%279.00%36.09%139.48%10.01%38.66%482.52%101.05%891.71%76.64%94.30%51.53%76.55%
Net Profit 32.30-5.7127.22-24.93-374.5945.60-13.35-0.16-14.336.681.5320.856.32
EPS in Rs 1.250.281.15-0.22-8.222.500.110.440.140.901.031.421.12

Last Updated: January 1, 2026, 2:16 pm

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: February 24, 2026, 6:46 am

MetricMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025TTM
Sales 1,7361,6981,6161,6341,7922,0151,9111,5001,7102,6992,6332,9183,259
Expenses 1,5931,5051,4131,3951,5371,7431,7011,4211,6852,5732,5432,7823,043
Operating Profit 143192203240255272210802512791137217
OPM % 8%11%13%15%14%14%11%5%1%5%3%5%7%
Other Income 82-3113856932425-262055-2705626
Interest 5211145751291622
Depreciation 4548464752526160595784103106
Profit before tax 175111294249295240169-14-19113-27372114
Tax % 30%25%32%27%32%32%25%36%83%38%34%109%
Net Profit 12384201181202163127-19-3570-367-635
EPS in Rs 5.053.428.237.408.286.745.59-0.81-1.523.37-5.832.514.67
Dividend Payout % 26%73%67%74%66%59%0%-25%-13%27%-34%80%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2014-20152015-20162016-20172017-20182018-20192019-20202020-20212021-20222022-20232023-20242024-2025
YoY Net Profit Growth (%)-31.71%139.29%-9.95%11.60%-19.31%-22.09%-114.96%-84.21%300.00%-624.29%98.37%
Change in YoY Net Profit Growth (%)0.00%170.99%-149.24%21.55%-30.91%-2.78%-92.87%30.75%384.21%-924.29%722.65%

Greaves Cotton Ltd has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 11 years from 2014-2015 to 2024-2025.

Growth

Compounded Sales Growth
10 Years:6%
5 Years:9%
3 Years:20%
TTM:12%
Compounded Profit Growth
10 Years:-7%
5 Years:-14%
3 Years:54%
TTM:314%
Stock Price CAGR
10 Years:6%
5 Years:23%
3 Years:9%
1 Year:34%
Return on Equity
10 Years:9%
5 Years:3%
3 Years:4%
Last Year:4%

Last Updated: September 5, 2025, 5:20 am

Balance Sheet

Last Updated: December 4, 2025, 1:19 am

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Sep 2025
Equity Capital 49494949494946464646464647
Reserves 7717748428769169207537367031,5401,3941,3591,329
Borrowings 00000112820257288181185
Other Liabilities 3833012863253814744134776291,1039231,044956
Total Liabilities 1,2031,1241,1771,2501,3461,4541,2401,2801,6352,7182,4442,5312,517
Fixed Assets 370326283292278339380372364369825846844
CWIP 582415287269758283634364
Investments 181293362411506420311612315712196
Other Assets 6474975075325356247888321,1742,1431,4001,5211,512
Total Assets 1,2031,1241,1771,2501,3461,4541,2401,2801,6352,7182,4442,5312,517

Reserves and Borrowings Chart

Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Cash from Operating Activity + 155225230114280145102147-56-135-153-23
Cash from Investing Activity + -108-179-7036-9738255-108-238-75824650
Cash from Financing Activity + -55-60-166-148-162-174-241-20210889-32-40
Net Cash Flow -8-14-62201011619-84-461-13
Free Cash Flow 1481812511152787240106-24-206-225-98
CFO/OP 150%140%155%78%146%87%82%211%-164%-70%-43%49%

Free Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Free Cash Flow143.00192.00203.00240.00255.00261.00182.0060.00-232.0099.0010.0056.00

Free Cash Flow = Income Generated from Operational Activities - Borrowings - Capital Work in Progress (CWIP)

Consistent positive free cash flow is crucial for businesses as it indicates their ability to generate cash from their core operations. It provides financial flexibility, allowing companies to invest in growth opportunities, pay dividends to shareholders, reduce debt, and weather economic downturns more effectively.

Free Cash Flow Chart

Financial Efficiency Indicators

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Debtor Days 685045605162495140223342
Inventory Days 503438453335545956405662
Days Payable 57466876828683120110827896
Cash Conversion Cycle 6137152921220-11-14-19108
Working Capital Days 53334439221723-5-996434
ROCE %21%21%28%23%23%24%18%3%-1%9%4%5%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthMar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Promoters 55.74%55.87%56.00%56.00%56.00%55.88%55.88%55.88%55.88%55.81%55.80%55.80%
FIIs 4.54%4.94%4.57%3.18%2.81%1.15%1.04%2.41%2.86%2.45%2.64%2.25%
DIIs 4.22%3.63%3.42%3.44%3.75%3.76%3.81%3.50%3.31%3.52%3.80%4.08%
Public 35.50%35.56%35.99%37.36%37.43%39.18%39.23%38.20%37.93%38.21%37.75%37.86%
No. of Shareholders 2,21,3272,18,6412,18,7312,11,6942,05,0422,12,8012,02,8912,64,7453,01,5093,01,4743,02,2263,31,612

Shareholding Pattern Chart

No. of Shareholders

Greaves Cotton Ltd: Intrinsic Value & Share Price Analysis - Shareholder trend analysis

Mutual Fund Holdings

Fund NameNo of SharesAUM (%)Amount Invested (Cr)Previous Number of SharesPrevious DatePercentage Change
Sundaram Business Cycle Fund 1,366,825 1.33 22.311,285,4502026-02-23 01:59:016.33%

ROCE Trend

EPS Trend

Key Financial Ratios

MonthMar 25Mar 24Mar 23Mar 22Mar 21
FaceValue 2.002.002.002.002.00
Basic EPS (Rs.) 2.51-5.833.37-1.53-0.81
Diluted EPS (Rs.) 2.50-5.833.35-1.53-0.81
Cash EPS (Rs.) 4.18-12.155.751.121.80
Book Value[Excl.RevalReserv]/Share (Rs.) 60.4562.0884.9432.3733.85
Book Value[Incl.RevalReserv]/Share (Rs.) 60.4562.0884.9432.3733.85
Revenue From Operations / Share (Rs.) 125.52113.50116.5373.8564.90
PBDIT / Share (Rs.) 8.196.738.662.143.81
PBIT / Share (Rs.) 3.743.106.21-0.391.19
PBT / Share (Rs.) 3.12-11.735.17-0.72-0.59
Net Profit / Share (Rs.) -0.27-15.793.31-1.42-0.81
NP After MI And SOA / Share (Rs.) 2.51-5.833.37-1.52-0.81
PBDIT Margin (%) 6.525.937.422.895.86
PBIT Margin (%) 2.972.725.32-0.531.83
PBT Margin (%) 2.48-10.334.43-0.98-0.91
Net Profit Margin (%) -0.21-13.912.83-1.91-1.25
NP After MI And SOA Margin (%) 2.00-5.132.89-2.06-1.25
Return on Networth / Equity (%) 4.15-9.394.91-4.71-2.39
Return on Capital Employeed (%) 5.144.047.15-0.943.33
Return On Assets (%) 2.28-5.482.86-2.14-1.45
Long Term Debt / Equity (X) 0.000.000.000.220.00
Total Debt / Equity (X) 0.030.030.000.310.00
Asset Turnover Ratio (%) 1.161.011.240.881.03
Current Ratio (X) 1.691.722.301.531.56
Quick Ratio (X) 1.301.321.991.241.18
Inventory Turnover Ratio (X) 9.5410.729.244.724.68
Dividend Payout Ratio (NP) (%) 79.62-15.435.93-13.080.00
Dividend Payout Ratio (CP) (%) 28.72-41.033.4319.710.00
Earning Retention Ratio (%) 20.38115.4394.07113.080.00
Cash Earning Retention Ratio (%) 71.28141.0396.5780.290.00
Interest Coverage Ratio (X) 11.6916.9317.159.2812.70
Interest Coverage Ratio (Post Tax) (X) 0.49-2.428.62-4.713.26
Enterprise Value (Cr.) 5023.002902.762768.384209.992677.97
EV / Net Operating Revenue (X) 1.721.101.032.461.78
EV / EBITDA (X) 26.3818.5813.8184.9630.42
MarketCap / Net Operating Revenue (X) 1.711.111.082.581.97
Retention Ratios (%) 20.37115.4394.06113.080.00
Price / BV (X) 3.552.041.845.903.78
Price / Net Operating Revenue (X) 1.711.111.082.581.97
EarningsYield 0.01-0.040.02-0.01-0.01

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

About the Company - Qualitative Analysis

Greaves Cotton Ltd. is a Public Limited Listed company incorporated on 29/03/1922 and has its registered office in the State of Maharashtra, India. Company's Corporate Identification Number(CIN) is L99999MH1922PLC000987 and registration number is 000987. Currently Company is involved in the business activities of Manufacture of parts and accessories for motor vehicles. Company's Total Operating Revenue is Rs. 1988.02 Cr. and Equity Capital is Rs. 46.50 Cr. for the Year ended 31/03/2025.
INDUSTRYADDRESSCONTACT
EnginesJ-2, MIDC Industrial Area, Aurangabad Maharashtra 431210Contact not found
Management
NamePosition Held
Mr. Karan ThaparChairman
Mr. Parag SatputeManaging Director & Group CEO
Mr. Raja VenkataramanIndependent Director
Mrs. Kavita NairIndependent Director
Mr. Firdose VandrevalaIndependent Director
Mr. Ravi KirpalaniIndependent Director
Mr. Mangalath UnnikrishnanIndependent Director

FAQ

What is the intrinsic value of Greaves Cotton Ltd and is it undervalued?

As of 15 April 2026, Greaves Cotton Ltd's intrinsic value is ₹70.53, which is 46.16% lower than the current market price of ₹131.00, suggesting the stock is overvalued. This is calculated using the PE ratio method factoring in ROE (4.11 %), book value (₹59.1), dividend yield (1.52 %), and 5-year EPS CAGR.

What is the current share price and 52-week range of Greaves Cotton Ltd?

Greaves Cotton Ltd is trading at ₹131.00 as of 15 April 2026, with a FY2026-2027 high of ₹245 and low of ₹120. The stock is currently near its 52-week low. Market cap stands at ₹3,059 Cr..

How does Greaves Cotton Ltd's P/E ratio compare to its industry?

Greaves Cotton Ltd has a P/E ratio of 28.2, which is below the industry average of 35.80. This is broadly in line with or below the industry average.

Is Greaves Cotton Ltd financially healthy?

Key indicators for Greaves Cotton Ltd: ROCE of 5.13 % is on the lower side compared to the industry average of 28.16%; ROE of 4.11 % is below ideal levels (industry average: 22.55%). Dividend yield is 1.52 %.

Is Greaves Cotton Ltd profitable and how is the profit trend?

Greaves Cotton Ltd reported a net profit of ₹-6 Cr in Mar 2025 on revenue of ₹2,918 Cr. Compared to ₹-35 Cr in Mar 2022, the net profit shows a mixed trend.

Does Greaves Cotton Ltd pay dividends?

Greaves Cotton Ltd has a dividend yield of 1.52 % at the current price of ₹131.00. The company pays dividends, though the yield is modest.

Disclaimer: This article is for informational purposes only and should not be construed as financial advice. The author is not a SEBI registered financial advisor and does not have any vested interest in Greaves Cotton Ltd. Investors are advised to conduct their own due diligence and consult with a financial professional before making any investment decisions. The information provided in this article is based on publicly available data and the author's analysis, but it may not be comprehensive or up-to-date. The author and getaka.co.in are not responsible for any errors or omissions in the content. This article is not intended to promote any particular investment strategy or recommendation, and readers should consult with their own financial advisors before making any investment decisions. Data Source: NSE
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