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CNBC TV18

Greaves Cotton shares slide more than 15% after FY2024 Q1 margins narrow to 5.8%

AI Market Summary
Greaves Cotton's Q1 results showed profit and EBITDA declines despite strong revenue growth, with gross margin compressing to 5.8% from 7.6%. The stock sold off over 15%, its steepest one-day drop since March 2020, highlighting investor sensitivity to margin pressure amid commodity and supply-chain headwinds. The impact is mainly idiosyncratic to the company rather than a broader market signal.
Impact level
● Low
Affected assets
NCCOGOLD2USD/USDT+1.46%
AI Insight · NCCOGOLD2USD/USDTAI Insight
▼ Bearish
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Greaves Cotton reported FY2024 Q1 net profit of ₹25.8 crore, down 22% year on year, while revenue rose 31% to ₹974.1 crore. EBITDA slipped 1% to ₹56.3 crore and margins narrowed to 5.8% from 7.6% a year earlier. Following the results, the stock fell more than 15% in a single session, marking its biggest one-day drop in over four years.
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