Greaves Cotton appoints Parag Satpute as MD & group CEO

The said appointment is subject to approval of shareholders and other regulatory approval.

He will be responsible for the affairs of Greaves Engineering, Greaves Retail, Greaves Finance, Greaves Technologies and Excel Controlinkage.

Satpute is a Mechanical Engineer from Pune University and an Executive MBA from Warwick Business School.

Satpute has over 29 years of overall experience. From Dec 2022 he was working with Bridgestone based out of Europe as the President of their Fleet Business within Global Business Unit Bridgestone Mobility Solutions. From 2017 upto 2022 he led the India Business for Bridgestone as their Managing Director. In this role he led a comprehensive Business transformation for the Indian entity.

Meanwhile, the company's board approved the re-designation of Arup Basu as chief executive officer, Greaves Engineering, effective from 14th April 2025.

Greaves Cotton is a multi-product and multi-location engineering company. The company is a leading name in fuel agnostic powertrain solutions, e-mobility, aftermarket & retail.

The company's consolidated net profit declined 85.35% to Rs 6.68 crore in Q3 FY25 compared with Rs 45.60 crore in Q3 FY24. Revenue from operations jumped 12.81% YoY to Rs 750.60 crore in Q3 FY25.