About Greaves Cotton Limited

Greaves Cotton Limited, founded in 1859, has evolved from a single-cylinder diesel engine maker into a diversified, fuel‑agnostic mobility solutions company spanning engineering, retail, electric mobility, finance, and technology, with a 165‑year legacy of engineering excellence as of Financial Year 2024–25. The Company operates through five synergistic businesses: Greaves Engineering, Greaves Retail, Greaves Electric Mobility Limited (GEML), Greaves Finance Limited, and Greaves Technologies, connecting consumers, partners, and service providers across India and select international markets with exports contributing to Engineering revenues. Key activities include multi‑fuel engines and gensets (CPCB IV, Euro V), motion control systems via subsidiary Excel, EVs under Ampere and e‑3W portfolios, EV financing through ev.fin, and advanced engineering and embedded software services. Operating geographies include manufacturing and offices across Maharashtra, Tamil Nadu, Uttar Pradesh, Telangana, and international sales in Europe and other export markets; plants span Talegaon (Pune), Chikalthana and Shendra (Aurangabad), Gummidipoondi, Ranipet, Greater Noida, Nagpur, and Medak. As on March 31, 2025, there are six subsidiaries: Greaves Finance Limited, Greaves Technologies Limited, Excel Controlinkage Private Limited, Greaves Electric Mobility Limited, Bestway Agencies Private Limited, and MLR Auto Limited; Greaves Technologies Inc. (USA) was voluntarily dissolved on February 28, 2025 to simplify structure. Recent milestones include Euro V single‑cylinder engines for Europe, CPCB IV gensets in India, hydrogen engine concept showcase, Ampere Nexus launch and record‑setting rides, and GEML’s transition following DRHP filing for a proposed IPO.

Greaves Cotton Limited Business Segment

• Greaves Engineering: Multi‑fuel powertrains, CPCB IV gensets, Euro V/Stage V engines, hydrogen/CNG concepts; exports form over 10% of revenue; reduced reliance on automotive diesel to under one‑third of segment revenue.

• Greaves Retail: Aftermarket spares and multi‑brand service for 2W/3W/SCV/EV; 250+ distributors, 10,000 retailers, 21,000 mechanics, and 230+ Greaves Care outlets; expanded e‑rickshaw e‑powertrain parts, CNG and 2W parts, and digital platforms (Care App, Upahar).

• Greaves Electric Mobility Limited (GEML): E‑2W and e‑3W under Ampere and other brands; Ampere Nexus premium family scooter launched; network of 400+ e‑2W and 250+ e‑3W sales/service points; DRHP filed for proposed IPO to fund tech, battery assembly, capacity, and inorganic growth.

• Greaves Finance: EV‑focused financing via ev.fin; active in 47 cities with nine OEM partnerships; launched ev.fin secure, relaunched Smart.fin, and retail insurance offerings.

• Greaves Technologies: Engineering services, growing from mechatronics to software/embedded, supporting in‑house e‑powertrain and external global clients.

Domestic vs. international revenue split 

• Exports noted as over 10% within Greaves Engineering.

Greaves Cotton Limited Key Management

• Karan Thapar — Chairman

• Parag Satpute — Managing Director and Group CEO (with effect from April 14, 2025)

• Akhila Balachandar — Chief Financial Officer

• Atindra Basu — Group General Counsel and Company Secretary; Compliance Officer per amended SEBI regulations

• Independent Directors: Firdose Vandrevala; Ravi Kirpalani; Raja Venkataraman; Mangalath Unnikrishnan; Kavita Nair (from January 23, 2025)

Latest Updates on Greaves Cotton Limited

• Launched CPCB IV gensets domestically and Euro V engines for Europe; showcased hydrogen engine concept, CNG engine, and e‑powertrain at Bharat Mobility/Auto Expo 2025.

• Ampere Nexus launched as a high‑performance family scooter; Kashmir–Kanyakumari ride achieved national records; Magnus Neo upgraded; Eltra City logged 225 km single‑charge record.

• GEML filed DRHP and transitioned to a public company structure, outlining proceeds for tech, in‑house battery assembly, capacity expansion, and inorganic opportunities.

• Retail network and digitalisation scaled: 230+ Greaves Care outlets, Care App bookings at ~70%, Upahar app with 5,000+ active mechanics monthly.

• Greaves Technologies Inc. (USA) dissolved to simplify operations; no impact expected on revenue/operations.

Board changes: Parag Satpute appointed MD & Group CEO (April 14, 2025); Nagesh Basavanhalli stepped down as Non‑Executive Vice Chairman (April 30, 2025); Kavita Nair appointed Independent Director (January 23, 2025).