In a significant shift in leadership, Greaves Cotton Ltd. has appointed Parag Satpute as the new Managing Director and Group Chief Executive Officer. His appointment comes on the heels of the resignation of Arup Basu, whose tenure will officially conclude on 9 May 2025, as stated by the company.
Satpute brings with him a wealth of experience from his previous roles, including serving as the president of the Fleet Business at Bridgestone Mobility Solutions. Additionally, he held the position of Managing Director at Bridgestone India, where he made notable contributions. Prior to his remarkable career at Bridgestone, Satpute spent over two decades at a prominent Swedish multinational engineering company, where he served as the Managing Director and Chairman of the Board for its India subsidiaries.
In his new role as the Managing Director and Group CEO of Greaves Cotton, Satpute will oversee the operations and strategy for various arms of the company, including Greaves Engineering, Greaves Retail, Greaves Technologies, and Excel Controlinkage Private Limited. His leadership is expected to further strengthen the company’s position in the market and guide it towards a future of growth and innovation.
“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 expressed.
Greaves Cotton’s performance has shown steady progress, with the company reporting consolidated revenue of ₹751 crore for the third quarter of FY25, marking a 13% year-on-year growth. The standalone revenue reached ₹502 crore, also reflecting a 13% increase from the previous year.
As Parag Satpute steps into this crucial leadership role, his wealth of experience in both the engineering and mobility sectors will play a key role in navigating Greaves Cotton through the evolving challenges and opportunities of the industry, steering the company towards an even brighter future.
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