Greaves Cotton Limited, one of India's leading engineering companies, announced the appointment of veteran executive leaders Dr. Arup Basu as Deputy Managing Director of Greaves Cotton Ltd and its EV subsidiary GEMPL announced the appointment of Mr. Sanjay Behl as CEO & Executive Director of Greaves Electric Mobility.
The strengthening of leadership comes on the heels of highest-ever consolidated quarterly revenue of Rs. 621 Crore reported for quarter ending March 31, 2022.
With this announcement, the Greaves group leadership will move to a simpler and more focused structure, in line with the reorganization of business carried out in 2021 to facilitate sustained growth, and led by Dr. Arup Basu and Mr. Sanjay Behl reporting to Mr. Nagesh Basavanhalli.
In his role, Dr. Basu will lead the development and execution of long-term strategies of GCL and will oversee implementation of overall Corporate Purpose and Vision of GCL across Engines and Retail Business. He brings over 30 years of experience in running manufacturing intensive businesses such as Packaging (MD at Huhtamaki PPL) Chemicals (President and CTO at Tata Chemicals), and Automotive (Tata Motors).
Greaves Electric Mobility (GEMPL), comprising e-scooters, e-rickshaw and e-auto segments, is one of the fastest growing business within the group accounting for 38% of the overall revenue for the quarter ended March 31, 2022, representing an annual YoY revenue growth of 251%.
As CEO & Executive Director of GEMPL, Mr. Sanjay Behl will focus on leading the accelerated growth of the electric mobility business. He comes with a rich experience in leading consumer facing businesses such as Textiles (CEO of Raymond Ltd), Broadcasting (CEO of Reliance Big TV) and Technology (Co-founder/CEO of Nextqore Inc).
Commenting on the leadership appointments, Mr. Nagesh Basavanhalli, MD and Group CEO, Greaves Cotton Limited, said, "I am delighted to welcome Dr. Arup Basu and Mr. Sanjay Behl to join the leadership team of the Greaves Cotton group. Their immense experience in transforming and growing Indian businesses at global scale will help us accelerate our growth. Their leadership skills in building future facing organizations will help steer growth in their respective."
Shares of Greaves Cotton Limited was last trading in BSE at Rs. 148.30 as compared to the previous close of Rs. 142.15. The total number of shares traded during the day was 227622 in over 3478 trades.
The stock hit an intraday high of Rs. 149.85 and intraday low of 143.05. The net turnover during the day was Rs. 33476514.00.