please find attached the transcript of the earnings call for the quarter and half year ended 30th September, 2026

04th November, 2026 The Manager - Listing The Manager – Listing BSE Limited National Stock Exchange of India Limited BSE Code: 501455 NSE Code: GREAVESCOT Dear Sir/Madam, Sub: Transcript of the earnings call for the quarter and half year ended 30th September, 2026 In furtherance to our intimation dated 22nd October, 2026, please find enclosed the transcript of the earnings call for the quarter and half year ended 30th September, 2026. The transcript is also made available on the Company’s website at www.greavescotton.com under ‘Investors’ section. Kindly take the same on record. Thanking You, Yours faithfully, For Greaves Cotton Limited Atindra Basu Group General Counsel and Company Secretary Membership No: F13799 Encl.: a/a Greaves Cotton Limited Email ID: investorservices@greavescotton.com I Website: www.greavescotton.com Registered Office: J-2, MIDC Industrial Area, Chikalthana, Chhatrapati Sambhajinagar – 431 006, Maharashtra, India. Tel.: (+91 240) 2479250, 2479232 Corporate Office: Unit Nos. 301 & 302, 3rd Floor, Tower B, Peninsula Business Park, Ganpatrao Kadam Marg, Off Senapati Bapat Marg, Lower Parel, Mumbai – 400 013, India. Tel: +91 22 41711700 I CIN: L99999MH1922PLC000987 “Greaves Cotton Limited Q2 & H1 FY27 Earnings Conference Call” October 29, 2026 MANAGEMENT: MR. PARAG SATPUTE – MANAGING DIRECTOR AND GROUP CHIEF EXECUTIVE OFFICER – GREAVES COTTON LIMITED MR. VIKAS SINGH – MANAGING DIRECTOR OF GREAVES ELECTRIC MOBILITY LIMITED MR. MANISH PODDAR – GROUP CHIEF FINANCIAL OFFICER – GREAVES COTTON LIMITED MR. ASHISH KALE –VICE PRESIDENT (STRATEGY) – GREAVES COTTON LIMITED Page 1 of 19 Greaves Cotton Limited October 29, 2026 Moderator: Ladies and gentlemen, good day and welcome to Greaves Cotton Limited Q2 and H1 FY27 Earnings Conference Call. As a reminder, all participant lines will be in the listen-only mode and there will be an opportunity for you to ask questions after the presentation concludes. Should you need assistance during the conference call, please signal an operator by pressing star then zero on your touchtone phone. Please note that this conference is being recorded. I now hand the conference over to Mr. Ashish Kale, Head Investor Relations, Greaves Cotton Limited. Thank you, and over to you, sir. Ashish Kale: Thank you, Iqra. Good afternoon, ladies and gentlemen and a very warm welcome to Greaves Cotton's Q2 FY27 Earnings Conference Call. The financial results and the investor presentation for the quarter ended 30th September 2026 have been filed with the stock exchanges and are also available on the company's website. I hope you had an opportunity to review them. From the management team today, we have with us Mr. Parag Satpute, MD and Group CEO; Mr. Vikas Singh, MD of Greaves Electric Mobility Limited and Mr. Manish Poddar, Group CFO. We'll begin with opening remarks from the management, following which we'll open the floor for questions. Before we begin, a brief disclaimer - Today's discussion may contain certain forward-looking statements relating to the company's business prospects, strategy and financial performance. These statements are subject to risks and uncertainties and actual results may differ materially. We request participants to refer to the disclaimer included in the investor presentation. I will now hand over the call to Parag to take us through the performance of the company and the progress on our strategic priorities. Over to you, Parag. Parag Satpute: Thank you, Ashish and good afternoon, everyone. Thank you for joining us today. Quarter 2 has been another quarter of strong business momentum and we see continued progress in the execution of our strategy named GREAVES.NEXT. Let me begin with three key messages for this quarter. Firstly, we delivered strong revenue growth across our businesses and we see very encouraging momentum in all key growth segments. Secondly, we continue to advance GREAVES.NEXT with tangible progress in new products, engineering capabilities, international expansion and strengthening of our business platforms. Thirdly, while our growth momentum remains strong, profitability continued to face pressure from rising input costs. The corrective actions we had initiated, started showing results, but continued cost inflation has offset some of these gains. I can assure you that improving profitability remains an important management priority. Now, let me begin with the headline numbers. At a consolidated level, we recorded a revenue of INR1,176 crores, representing a year-on-year growth of 44%. For the first half of this year, consolidated revenue came in at INR2,150 crores, which is a growth of 38%. Importantly, our Core Businesses continue to demonstrate strong momentum, growing 24% year-on-year in quarter 2 and 20% during the first half. This represents an acceleration from the growth we reported in quarter 1 and therefore reinforces our confidence in the underlying strength of our business. As I have shared in earlier calls, Page 2 of 19 Greaves Cotton Limited October 29, 2026 GREAVES.NEXT is about building on our strong engineering and manufacturing heritage to create a more diversified and a technology-led Greaves. Our focus has been on accelerating the Core Businesses, building new capabilities and creating additional avenues for sustainable growth. I'm happy to say we are now seeing these priorities translate into tangible business outcomes. So let me take you through the performance of the three Core Business segments. As usual, I'll start with Energy Solutions. This business continued its strong growth momentum and we saw a healthy demand across infrastructure, manufacturing, commercial and industrial applications. During this quarter, Energy Solutions grew 36% year-on-year, compared with the 21% growth in the previous quarter. One of our strategic priorities within this business has been to strengthen our position in the medium-to-high horsepower genset market and I'm very pleased to share that our medium horsepower, which we call MHP genset portfolio, covering the 160 to 750 kVA range, grew 35% during the first half of FY27 compared to a 28% growth of the overall business. This is encouraging as it demonstrates the traction we are gaining in the market segments where we have deliberately chosen to strengthen our presence. International expansion is another priority for this business and during this quarter, we completed the first batch of enhanced gensets developed for a key market in the Middle East. This is again a tangible step forward and we will build on our export presence to strengthen our ability to serve international customers. Overall, we remain positive about the opportunity in Energy Solutions. Our focus will be on sustaining this growth, continuing to strengthen our competitive position and building a larger domestic and international business. Moving on to Mobility Solutions, here, our strategy is to leverage our established OEM relationship and our engineering capabilities. We believe different powertrain technologies will co-exist for the foreseeable future. Our approach, therefore, is to remain competitive in existing applications while developing capabilities required for new technologies. Along these lines, our Automotive Engines business delivered another strong quarter, growing 37% year-on-year, supported by healthy demand across three-wheeler and four-wheeler applications. During this quarter, we also launched a new 470 cc diesel engine for three-wheeler applications, further strengthening our product offerings. I will now turn to Engineered Components within our Mobility Solutions space, the company that you know as Excel Controlinkage. Excel delivered a very strong quarter with a 30% year- on-year growth and this is supported by new product orders and new customer wins. This follows the return to growth we reported already in Q1 and reflects the progress being made in strengthening the business. During this quarter, we completed the acquisition [Showing first 8,000 characters — download PDF for full document]