Industry News

Greaves Cotton Limited Secures 13th Rank in Fortune India’s Mid-Size Marvel Section of ‘The Next 500’ list

Nikita Arya
Nikita Arya

Greaves Cotton Limited gets featured in Fortune India’s Fortune 500. Every year, Fortune India Magazine issues ‘The Next 500 list – an annual list compiled and published that ranks 500 of India’s corporations based on the latest sales and gross revenue figures. Greaves Cotton has secured 13th position in the Mid-Size Marvel Section of the list. The parameters on which the companies have been ranked are revenue, net operating income, profit, assets, net worth, equity dividend, and employee cost. 

Greaves Cotton Limited pioneers in manufacturing engines and heavy equipment. The company’s legacy can be traced back to the year 1859 when its first foundation was set up in Mumbai, Maharashtra. With the company’s resilience and leadership in the Indian as well as overseas market, the company has reached a reputed position. The strategy of growth via diversification has been considered a crucial factor in the success of Greaves Cotton Limited. 

Approximately half of Greaves Cotton's total business comes from engine manufacturing while 24 percent and 26 percent come from aftermarket agriculture equipment and generator sets, respectively.  

In the year 2019, Greaves Cotton completed the acquisition of the entire shareholding of Hemalatha Annamalai in Ampere Vehicles Pvt Ltd through a secondary purchase. Greaves has taken full control of the Ampere and has made it a wholly-owned subsidiary of Greaves. The acquisition of Ampere was to catch up with the growing trend of e-vehicles. The main objective of the acquisition was to strengthen and expand Greaves’s presence in the fast-growing e-mobility space that has to hold the attention of both the government and commuters. This acquisition has pushed the company’s growth to another level.  

The company has aligned itself with new strategies to keep abreast of the technological, regulatory and business model disruption by 2020. 

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