Greaves Cotton Ltd is one of the leading engineering companies in India. The company manufactures a wide range of industrial products to meet the requirement of core sectors in India and abroad. The company's core competencies are in Diesel/Petrol engines, Gensets, Agro Equipments and Construction Equipments.
The business operations of the company is divided into various groups, namely Power Generation group, Agro Equipment Group, Light Engines Group and Infrastructure Equipment. Besides, they have an independent Division marketing high technology systems for marine, aviation and electronic applications.
The company was incorporated in the year 1922. The company promoted the first ever Indo-Russian joint venture in the private sector, namely Rajasthan Polymers and Resins, to manufacture 20,000 TPA of ABS/HIPS resins during the year1991. During the year 1992-93, Greaves Semi-conductor, a subsidiary, was amalgamated with the company. Also, they acquired two units of Enfield India to enhance the company's core strengths in engine manufacture and marketing.
During the year 1995-96, the company signed a joint venture agreement with SAME SpA, Italy for the manufacture of Diesel Engines. During the year 1997-98, the company divested their Greaves Garuda 3-wheeler Auto plant at Baramati in favour of a joint venture company, namely Piaggio Greaves Vehicles Ltd formed in collaboration with Piaggio Veicoli Europei SpA of Italy.
During the year 1998-99, the company began the commercial production of diesel engines in SAME Greaves Ltd at Ranipet, a joint venture with SAME Deutz Fahr SpA. Also they commenced commercial production in their tractor unit. This is marketed in the name of SAME Greaves pronounced SAMAY. The Greaves Semiconductors Unit at Patancheru in Andhra Pradesh was divested in favour of Teamasia Greaves Semiconductors Ltd with effect from January 1, 1999.
Rajasthan Polymers & Resins Ltd merged with the company with effect from May 5, 1999. In March 2000, the company transferred the tractor business in favour of a joint venture company under the name SAME Greaves Tractors Ltd formed in collaboration SAME Deutz Fahr SpA of Italy and SAME Deutz Fahr Holdings and Finance BV, Netherland. During the year 2000-01, they exited from the business venture with Piaggio Greaves Vehicles Ltd.
During the year 2001-02, the company exited from the joint venture company, namely SAME Greaves Ltd and SAME Greaves Tractors Ltd. During the year 2002-03, the company acquired the business of manufacture of fluid couplings and cluster gears from Pembril Engineering Pvt Ltd and Pembril Industrial & Engineering Company Pvt Ltd, respectively. The name of the company was changed form Greaves Ltd to Greaves Cotton Ltd.
During the year 2003-04, the company transferred most of their investments to their wholly owned subsidiary, Greaves Leasing Finance Ltd. They merged all their investment companies, namely Rajpath Investment Ltd and Carnation Investment Ltd with their wholly owned subsidiary, Greaves Leasing Finance Ltd. They also sold their loss making RPRL unit and liquidated their overseas subsidiary Sidvim AG during the year.
The Oilfield & Drilling Business of the company, which includes Nasik plant, was divested as a going concern to Drilbits International Pvt Ltd with effect from June 30, 2005. During the year 2005-06, the company divested their 25.5% stake in the Equity of Greaves Morganite Crucible Ltd for a consideration of Rs 10.71 crore. Also, they exited from the distribution business relating to GMCL products, for a consideration of Rs 5.20 crore.
During the year 2006-07, the company set up an additional manufacturing facility for concrete mixers at their existing location in Gummidipoondi, Tamilnadu. In March 2007, they acquired Bukh Farymann Diesel GmbH, renamed as Greaves Farymann Diesel GmbH for Euro 4.24 million. This company is engaged in the manufacture and marketing of single cylinder diesel engines and parts.
During the year 2007-08, the company set up Greaves Auto Ltd to act as a Special Purpose Vehicle for new business that the company may undertake in future. They set up new facilities for manufacture of twin cylinder engines/ power train, at Aurangabad in Maharashtra. They also set up a manufacturing facility at Gummidipoondi, Tamilnadu, for manufacture of road compaction equipments.
The company set up a manufacturing facility for manufacture of G series multi cylinder diesel engines at Chinchwad, in Pune. They also set up a state-of-the-art Technology centre at Chinchwad, Pune for design, development and testing of large multi cylinder diesel engines.
In September 2008, the company inaugurated a new manufacturing facility for agro equipment at Gummidipoondi in Tamilnadu. In October 2008, they entered into a long term Agreement with Tata Motors Limited for supply of newly developed light diesel engines for application in their small commercial vehicles.