Global Healthcare Analyst

Tina Banerjee

Equity Capital Markets

<ul>
<li>Powerica has launched IPO to raise up to INR 11B. The company plans to sell 27.8M shares at between INR 375 - 395 per share.</li>
<li>Powerica is an integrated power solutions provider specializing in diesel generator sets, for both primary and standby applications. It also operates in wind power sector as an independent power producer.</li>
<li>Investors can subscribe to the issue considering the stable business model, strong brand association, expertise in power segment and strategic advantage in attaining long term sustained growth trajectory.</li>
</ul>


Powerica has launched IPO to raise up to INR 11B. The company plans to sell 27.8M shares at between INR 375 - 395 per share.
Powerica is an integrated power solutions provider specializing in diesel generator sets, for both primary and standby applications. It also operates in wind power sector as an independent power producer.
Investors can subscribe to the issue considering the stable business model, strong brand association, expertise in power segment and strategic advantage in attaining long term sustained growth trajectory.


Powerica IPO: Powering Ahead to Attain A Long Term Growth Trajectory

APAC IPOs & Placements, Aequitas Research

Sharan Shankarnarayan

APAC IPOs & Placements

IPOs and Placements coverage across Asia Pacific

Aequitas Research

We cover all listing across the Asia Pacific along with follow-up placements. As of Dec 2020, our team had covered 539 IPOs with a hit rate of 73.5% and 685 placements with a hit rate of 66.8%.

We combine fundamental bottom-up views with our proprietary quantitative framework to provide a holistic coverage across new listings and placements. Our coverage includes pre-IPO notes before the deal is launched, follow-up analysis once the deal is live and post-listing trading analysis as well.

<ul>
<li>Powerica Ltd is looking to raise about US$160m in its upcoming India IPO.</li>
<li>Powerica Limited is a leading Indian power solutions company whose core business lies in assembling and supplying diesel generator (DG) sets powered by engines from Cummins, supported by in-house manufacturing. </li>
<li>In this note we talk about the company's historical performance.</li>
</ul>


Powerica Ltd is looking to raise about US$160m in its upcoming India IPO.
Powerica Limited is a leading Indian power solutions company whose core business lies in assembling and supplying diesel generator (DG) sets powered by engines from Cummins, supported by in-house manufacturing. 
In this note we talk about the company's historical performance.


Aequitas: Powerica Ltd Pre-IPO- Integrated Power Solutions Provider

India Equity Analyst - Fundamental & Thematic, Beat the Street

Sudarshan Bhandari

India Equity Analyst - Fundamental & Thematic

Beat the Street

Beat The Street was founded by Nimish Maheshwari and Sudarshan Bhandari, both of whom are Chartered Accountants by Profession, known for their expert analysis in the fields of Business, Sectoral analysis, and Corporate governance.

With a strong social media presence of 45,000+ Subscribers across various platforms, they are considered trusted voices in the industry. Their insights and analysis have been featured in some of India’s most prominent publications, including the Economic Times, Dalal Street Investment Journal, The Morning Context, and The Ken.

Their analysis on Bankrupt & Insolvent companies has been instrumental in saving investors from significant losses. They have a keen eye for identifying red flags and has identified exclusive redflags earlier in Vedanta, Nykaa, Dhani Services, Adani and many more.

Read Business Not Stock Prices

Equity Bottom-Up

<ul>
<li>
<a href="https://www.smartkarma.com/entities/greaves-cotton-ltd" target="_blank" data-smartkarma-citation="entities:11664:1" rel="noopener">Greaves Cotton (GRV IN)</a> reported impressive Q4 and FY25 results, marking a 93% YoY increase in EBITDA and strong revenue growth across key sectors, especially electric mobility.</li>
<li>The company’s transformation through diversification into high-margin segments, including EVs and non-auto applications, has improved profitability, solidifying its position for long-term growth.</li>
<li>With strong leadership, technological advancements, and a clear 2030 growth vision, Greaves Cotton is well-poised to thrive in emerging markets, especially EV and CNG segments.</li>
</ul>



Greaves Cotton (GRV IN) reported impressive Q4 and FY25 results, marking a 93% YoY increase in EBITDA and strong revenue growth across key sectors, especially electric mobility.
The company’s transformation through diversification into high-margin segments, including EVs and non-auto applications, has improved profitability, solidifying its position for long-term growth.
With strong leadership, technological advancements, and a clear 2030 growth vision, Greaves Cotton is well-poised to thrive in emerging markets, especially EV and CNG segments.


Greaves Cotton Q4 FY25 Update: Diversification Strategy Drives Strong Performance & Profitability

<ul>
<li>
<a href="https://www.smartkarma.com/entities/greaves-cotton-ltd" target="_blank" data-smartkarma-citation="entities:11664:1" rel="noopener">Greaves Cotton (GRV IN)</a> is raising funds by separately listing its mobility arm, enabling better focus and execution for the segment.</li>
<li>Company is guiding for 30,000Cr topline by 2030  with 13-15% margins excluding mobility segment.</li>
<li>The company's core business remains profitable and on a growth path. New funds will improve the mobility arm's operations and support current business growth would be from ongoing capex investments.</li>
</ul>



Greaves Cotton (GRV IN) is raising funds by separately listing its mobility arm, enabling better focus and execution for the segment.
Company is guiding for 30,000Cr topline by 2030  with 13-15% margins excluding mobility segment.
The company's core business remains profitable and on a growth path. New funds will improve the mobility arm's operations and support current business growth would be from ongoing capex investments.


The Beat Ideas: Greaves Cotton- Demerging The Cash Cow From Mobility Business

External broker reports(aggregated public sources), Chola Securities

Chola Wealth Direct

External broker reports(aggregated public sources)

<p>Background Greaves Cotton (GCL) is one of the largest manufacturers (primarily) single cylinder (diesel, gasoline engines) and dual cylinder engines, which find application in running 3-W vehicles and 4-W small commercial vehicles (SCVs). The company offers products and solutions across business units- Engines, power, farm equipment, mobility and aftermarket. In FY19 Greaves Cotton augmented its Clean Technology...</p><div class="content-highlight"><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></div>

Background Greaves Cotton (GCL) is one of the largest manufacturers (primarily) single cylinder (diesel, gasoline engines) and dual cylinder engines, which find application in running 3-W vehicles and 4-W small commercial vehicles (SCVs). The company offers products and solutions across business units- Engines, power, farm equipment, mobility and aftermarket. In FY19 Greaves Cotton augmented its Clean Technology...Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

EARNINGS UPDATE- GREAVES COTTON LTD 1QFY22

India

Greaves Cotton Limited is a diversified engineering company that manufactures powertrain products for various fuel types, heavy equipment, and electric mobility solutions. The company operates across automotive, non-automotive, and electric mobility sectors, providing engines, generator sets, farm equipment, and aftermarket services. Greaves Cotton is headquartered in Mumbai, Maharashtra, India, and was established in 1859.

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Greaves Cotton (GRV IN)

Powerica IPO: Powering Ahead to Attain A Long Term Growth Trajectory

Powerica launches IPO to raise up to INR 11B, offering 27.8M shares at INR 375-395 each. Investors can subscribe for stable business model, strong...

Tina Banerjee

Aequitas: Powerica Ltd Pre-IPO- Integrated Power Solutions Provider

Powerica Ltd is looking to raise about US$160m in its upcoming India IPO. In this note, we talk about the company’s historical performance.

Sharan Shankarnarayan

Greaves Cotton Q4 FY25 Update: Diversification Strategy Drives Strong Performance & Profitability

Greaves Cotton (GRV IN) posts strong Q4 and FY25 results with 93% YoY EBITDA growth, driven by revenue surge in electric mobility and...

Sudarshan Bhandari

The Beat Ideas: Greaves Cotton- Demerging The Cash Cow From Mobility Business

Greaves Cotton is raising funds by separately listing its mobility arm to enhance focus and execution, aiming for a 30,000Cr topline by 2030 with...

Sudarshan Bhandari

EARNINGS UPDATE- GREAVES COTTON LTD 1QFY22

Background Greaves Cotton (GCL) is one of the largest manufacturers (primarily) single cylinder (diesel, gasoline engines) and dual cylinder...

Chola Wealth Direct

Price Gauge

52-week Range

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Powerica IPO: Powering Ahead to Attain A Long Term Growth Trajectory

​Powerica launches IPO to raise up to INR 11B, offering 27.8M shares at INR 375-395 each. Investors can subscribe for stable business model, strong...

Tina Banerjee

Aequitas: Powerica Ltd Pre-IPO- Integrated Power Solutions Provider

Powerica Ltd is looking to raise about US$160m in its upcoming India IPO. In this note, we talk about the company’s historical performance.

Sharan Shankarnarayan

Greaves Cotton Q4 FY25 Update: Diversification Strategy Drives Strong Performance & Profitability

​Greaves Cotton (GRV IN) posts strong Q4 and FY25 results with 93% YoY EBITDA growth, driven by revenue surge in electric mobility and...

Sudarshan Bhandari

The Beat Ideas: Greaves Cotton- Demerging The Cash Cow From Mobility Business

​Greaves Cotton is raising funds by separately listing its mobility arm to enhance focus and execution, aiming for a 30,000Cr topline by 2030 with...

Sudarshan Bhandari

EARNINGS UPDATE- GREAVES COTTON LTD 1QFY22

Background Greaves Cotton (GCL) is one of the largest manufacturers (primarily) single cylinder (diesel, gasoline engines) and dual cylinder...

Chola Wealth Direct

Powerica launches IPO to raise up to INR 11B, offering 27.8M shares at INR 375-395 each. Investors can subscribe for stable business model, strong...

Greaves Cotton (GRV IN) posts strong Q4 and FY25 results with 93% YoY EBITDA growth, driven by revenue surge in electric mobility and...

Greaves Cotton is raising funds by separately listing its mobility arm to enhance focus and execution, aiming for a 30,000Cr topline by 2030 with...