Greaves Cotton Limited
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BSE Code:
501455
NSE Code:
GREAVESCOT
Business Profile
Business Profile
Greaves Cotton is a well-diversified engineering company with core competencies in diesel/petrol engines, gensets, agro equipment and construction equipment. Part of the Thapar group, the company was incorporated on Mar. 29, 1922 as a private limited company and was converted into a public limited company on May 8, 1950.
The company operates in the business groups of power generation, agro equipments, light engines and infrastructure equipments, and an independent division which markets high technology systems for marine, aviation and electronic applications. The company produces gensets and diesel engines for power generation and iron castings for foundries; engines/pumpsets and power tillers for agricultural use; diesel engines/gensets for light engines; construction equipment like concrete pumps, transit mixers, concrete batching plants, concrete pavers compactors, ..etc; mellurgy products like crucibles, rolls, alloys, electrodes, and filler material; and mining requirements like shearers, road headers, mine electricals, ..etc.
The company has nine manufacturing units and opened its fourth light diesel engine manufacturing facility in Aurangabad, Maharashtra to manufacture twin-cylinder engines used in four-wheeled low cost commercial vehicles, gensets and construction equipment. The petrol engine unit and the Greaves heavy engineering units are ISO 9000 certified.
Recently, the company acquired Bukh-Farymann Diesel GmbH, a diesel engine manufacturing company in Germany through its wholly owned subsidiary Greaves Cotton, Netherlands. It has also signed a MoU with the Maharashtra government for setting up a Rs 35 billion worth industrial park. The company has opened a technology center in Aurangabad, Maharashtra for designing and developing proprietary technology eco-friendly diesel engines for automotive and other applications.
The company has a well established marketing network in India and has an overseas office in the UK. The registered office of the company is at Industry Manor, Appasaheb Marathe Marg, Prabhadevi, Mumbai-400025.
Financials
The company announced a substantial drop in standalone net profit for the quarter ended December 2008. During the quarter, the profit of the company declined 73.73% to Rs 77.40 million from Rs 294.60 million in the same quarter previous year. Net sales declined 19.05% to Rs 2,771 million, while total income for the quarter fell 19.17% to Rs 2,783.30 million, when compared with the prior year period. It reported earnings of Rs 1.58 a share during the quarter, registering 73.80% decline over previous year period.