Greaves Cotton appoints Parag Satpute as new MD and Group CEO

Engineering firm Greaves Cotton Ltd on Monday appointed Parag Satpute as its new Managing Director and Group Chief Executive Officer. His appointment comes after Arup Basu resigned as a Managing Director of the Company, with his employment concluding on 9 May 2025, the company said in a press statement.

 

Satpute has previously served as the president of the Fleet Business at Bridgestone Mobility Solutions and was the Managing Director of Bridgestone India, the statement added.

 

Prior to his stint at Bridgestone, he was at Swedish multinational engineering, for over two decades where he also served as the Managing Director and Chairman of the Board (Subsidiaries) for India.

 

 

As MD and Group CEO, Satpute will look after the strategy and operations of Greaves Engineering, Greaves Retail, Greaves Technologies, and Excel Controlinkage Private Limited, the company added.

 

"I am excited to join Greaves Cotton Limited at this pivotal moment in its journey. The company’s demonstrated legacy in empowering lives through sustainable and accessible solutions resonates strongly with me. I look forward to working closely with the team to advance this vision and drive strategic business outcomes," Satpute said.

 

Greaves Cotton's last quarter performance

In Q3 FY25, Greaves Cotton Limited reported a consolidated revenue of ₹751 crore, reflecting a 13% year-on-year growth. The standalone revenue stood at ₹502 crore, also marking a 13% increase compared to the previous year.