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Greaves Cotton Ltd. Company History and Annual Growth Details

1922 - The company was incorporated on 29th March, as a Private Ltd.
company. It was converted into a Public Limited Company on
8th May, 1950.

- The main objects of the company is to act as merchants, engineers
and contractors. The company has a large number of associated
and subsidiary companies manufacturing various items of
electrical and machinery products. It also acts as
concessionaires for a large number of firms in U.K. The company
manufactures paper cones and tubes for the cotton textile
industry and diamond drilling bits.

- Equity shares were issued without payment in cash.

1958 - Greaves Dronefield Company was floated in collaboration with
Dronsfield Brothers Ltd., Oldham for the manufacture of their
well-known 'Atals' brand emery fillets. It was registered on
31st December, and it went into production soon thereafter.

1959 - Mather Greaves Company was registered on 6th August, for the
manufacture of calender bowls.

1960 - The company concluded a technical collaboration agreement with
Mandrills Ltd., of Melbourne, Australia for the manufacture of
diamond tools.

- The company was floated in collaboration with David Brown
Industries Ltd., for the manufacture of Radicon worm reduction
gears and geared motor units and was registered on 6th June.
Later, the company was also licensed to manufacture David Brown
marine gear boxes.

- Draton Greaves concern was floated in collaboration with Drayton
Regulator & Instrument Co. Ltd., of Middlesix for the manufacture
of steam traps and regulators and registered on 19th August.

1963 - After consolidating the manufacture of calender bowls, the
company embarked on the production of Schriner calenders, stenter
clips, mangles, printing machines, etc.

- On 22nd April, it became a subsidiary of the company by virtue of
such allotment of 425 shares of Rs. 100 each to the company in
terms of the collaboration agreement.

1965 - Mather Greaves Ltd., undertook the entire marketing of its
products resulting in the termination of their Sole
Concessionaires Agreement with Greaves Cotton & Co. Ltd.

1967 - The other subsidiaries are Greaves Leasing & Finance Ltd.,
Rajpath Investment Ltd. Cannation Investment Ltd. Greaves
Midwest Engineering Co. Ltd. and SIDVIM Ag.

1975 - Greaves Lombardini Company in collaboration with Lombardini
Motori of Italy promoted Greaves Lombardini Ltd., for the
manufacture of diesel engines. Greaves Lombardini Ltd., was
incorporated on 21st May, under the name and style of Greaves
Diesels Ltd., and the name was subsequently changed to the
present one.

1982 - Consumption of emery fillets in the home market during the last
quarter of 1982 and the beginning of 1983 was less due to
prolonged textile strike in the country.

1983 - 5% tax-free Pref. shares made 13.5% taxable from 1.7.1983.
25,000-6% Pref. share redeemed on 31.3.1984. 2,12,625 Bonus
Equity shares issued in prop. 1:2 on 23.3.1984.

1984 - Greaves Lombardini Ltd., was merged with Greaves Cotton & Co.

1985 - Consequent upon the purchase by Greaves Cotton & Co. Ltd., of 50%
shares held by Dronsfield Brothers Ltd., U.K. Greaves Dronsfield
Ltd., became a wholly owned subsidiary of Greaves Cotton & Co.

- A technical collaboration agreement was entered into with David
Brown Gear Industries, U.K., for the manufacture of hardened and
profile ground helical gear boxes. Government gave its approval.

- 20,265-15% Pref. and 19,250 No. of equity shares allotted without
payment in cash to members of Greaves Lombardini, Ltd. on its
merger. These Pref. shares redeemable at 1.7.1996 but before
15.6.1998 at the company's option.

1988 - 25,000-15% Pref. C shares paid off. 3,28,562 Bonus Equity shares
issued in proportion 1:2.

1989 - To improve exports further, it was proposed to open offices in
the USSR and East Africa. The works at the Nasik plant resorted
to go-slow and the company was forced to declare a lock-out of
the plant effective from 14th June, 1990. The lockout was lifted
on 20th October, 1990.

1990 - During the year, the company introduced Greaves portable light
weight diesel Genset viz., Greaves-GD3000.

- The company entered into an understanding with the Rajasthan
State Industrial Development and Investment Corporation Ltd.
(RIICO) for the setting up of a unit at Abu Road in Rajasthan for
manufacture of ABS Resins in collaboration with Technochim and
Plastpererabotka (Russian partners).

- The company undertook to set up a 3-wheeler autorickshaw
manufacturing unit at Baramati, Maharashtra.

- During the year, the company undertook to increase existing
capacity of the light weight engines unit at Aurangabad to 32,500
units from the existing 22,500 units.

- Greaves Chitram, Ltd., (Chitram) was amalgamated with the
Company. The erstwhile shareholders of Chitram were allotted
one equity share of Greaves Cotton Co., Ltd., for every 412
shares held by them in Chitram.

1991 - During the year, the Company had converted the representative
office at Singapore into a trading office.

- The company proposed to set up a joint venture company with
Frabelle Fishing Corporation, Philippines to undertake deep sea
tuna fishing in the exclusive economic zone of the territorial
waters of India.

- Subject to necessary approvals being obtained, Greaves
Semiconductors Ltd. (GSL), a subsidiary of the company, was
proposed to be amalgamated with the Company with retrospective
effect from 1st April 1989.

- During April-May, the company offered 32,89,488 - 12.5% secured
fully convertible debentures of Rs. 40 each on Rights basis in
the proportion 1 debenture : 3 equity shares held (all were taken
up): Additional 4,93,341 debentures were allotted to retain over

- Simultaneously, another 1,64,475 - 12.5% debentures of Rs. 40
each were issued to employees including Indian working directors
of the Company on an equitable basis (only 75,200 debentures
taken up). UN subscribed portion of 89,275 debentures allowed
to lapse.

- Each debenture of Rs. 40 was fully and automatically converted
into one equity share of Rs. 10 each at a premium of Rs. 30 per
share after 12 months from the date of allotment of debentures.
Accordingly, 38,58,029 No. of equity shares were allotted in July

- 50 No. of equity shares allotted without payment in cash to
members of Greaves Chitram Ltd., on its merger.

1992 - The company's operations at Marol was suspended in October and
the land and building had since been disposed of. The Nashik
plant was reported to be suffering from lack of profitable orders
from the Government sector. Efforts were on to diversify the
product portfolio.

- The power transmission unit II (erstwhile David Brown Greaves
Ltd.) Falta, W. Bengal was commissioned.

- During November the company offered share on 1,37,14,949 No. of
equity shares of each at a premium of Rs. 70 per rights basis in
the proportion 1:1. (all were taken up). Another 6,85,747 No. of
equity shares of Rs. 10 each at a premium of Rs. 70 each were
offered to the employees of the company on an equitable basis
(only 26000 shares taken up).

- The company offered for sale 26,82,240 No. of equity shares of
Rs. 10 each of Greaves Fosico Ltd. at a premium of Rs. 60 per

- Rajasthan, Polymers & Resins Ltd., an associate Company offered
on preferential basis 12,68,000 - 14.5% secured redeemable partly
convertible debenture of Rs. 25 each of Rs. 10 of the face value
was to be converted into 1 equity share on allotment of debenture
Rs. 15 was to be redeemed.

- Subject to necessary approvals being obtained, the company
proposed to issue 1473,81,765 bonus equity shares in proportion

- 28,552 No. of equity shares allotted to shareholders of erstwile
Greaves Ltd., on its amalgamation 19,91,903 No. of equity shares
allotted on amalgamation of Ruston & Honnsberg Ltd. and David
Brown Greaves Ltd. within company. 137,40,949 Rights shares
issued to shareholders and employees.

1993 - The company entered into a joint venture agreement with a few
parties in Singapore for trading in Vietnam and other parts of
the world. A new company was registered in Singapore in the name
of Pacific Greaves Pte. Ltd.

- It was also proposed to set up a joint venture company with
overseas consortium partners for installation and developed of
part infrastructure in Russia.

- Effective 19th August, the name of the company was changed to
Greaves Ltd., from Greaves Cotton & Co. Ltd.

- 38,58,029 No. of equity shares (prem. Rs. 30) was allotted in
conversion of 12.5% fully convertible debs. 28,552 No. of equity
shares allotted to shareholders of erstwhile Greaves
Semi-Conductors Ltd. on its amalgamation. 19,91,903 No. of
equity shares allotted on amalgamation of Ruston & Hornsby Ltd.
& David Brown Ltd. with the company. 137,40,949 Rights equity
shares allotted.

1994 - Two new products were launched viz., diesel three wheelers and
sale of HIPS resins and partly from the petrol engine unit at
Thoraipakkam and Commencement of production of diesel engines at
Ranipet, both acquired in January.

- The company undertook a project for the manufacture of rolling
cutter rock bits, used largely in oil well drilling and also for
waterwell drilling in collaboration with Smith Tool Company, a
division of Smith International, Los Angeles, U.S.A. For this
purpose a new factory was set up in the MIDC Industrial Estate
at Nasik.

- Effective 31st January, the company acquired the Thoraipakkam
properties of Enfield India Ltd., Chennai. The company undertook
to invest in the Ranipet complex to manufacture light diesel
engines which was originally planned for at Aurangabad.

- The company proposed to enter the field of agricultural tractor
and associated diesel engines manufacture in Rankipet, Tamil Nadu
in collaboration with a well known Italian manufacturer.

- The company has signed a licence agreement in June to avail
technology from SAME for the manufacture of certain range of

1995 - 147,38,176 shares allotted as Bonus shares in prop. 1:2.

1996 - The company achieved 94% of the installed capacity in the
manufacture of Greaves Garuda diesel 3-wheeler. However, the
original plans for introducing the eco-friendly 4-stroke petrol
engined 3-wheeler could not materialise during the year.

- The Company proposed to set up an industrial park of
international standard at Ranjangaon near Pune in collaboration
with Overseas consortium partners and in association with
Maharashtra Government agencies viz., the SICOM & MIDC. The
company proposed to introduce an eco-friendly 4-stroke Petrol
engined 3 wheeler.

- The company entered into a technical collaboration with SAME Spa,
Italy for the manufacture of agricultural tractors and signed a
joint venture agreement with SAME for the manufacture of diesel
engines for tractors and other uses.

- The company proposed to increase the capacity for the manufacture
of diesel generating sets at Diesel Engines Unit in Chinchwad,
Pune to cater to the enhanced demand in the market.

- The company entered into a joint venture agreement with Same
Deutz Fahr SPA of Italy for manufacture of diesel engines.

1997 - Greaves Ltd, the engineering arm of the Thapar group, is entering
into the automotive sector with tractors and two models of
three-wheelers - one a six-seater diesel versions and the other a
three-seater petrol model.

- The production capacity of high speed diesel engines manufactured
at Aurangabad and Ranipet will be increased form 60,000 engines
per annum to 100,000 engines per annum.

- The company is to launch the Garuda six-seater diesel
three-wheeler which conforms to 1996 emissions norms and will be
shortly introducing the Garuda four-stroke petrol three-wheeler.

- In the transportation division, the manufacturing capacity of the
diesel run three wheeler garuda is proposed to be increased to
60,000 from the present 24,000.

- The company proposes to launch the production of the petrol
version of the Garuda in the first quarter of 1997-98
incorporating new features such as electric start and
four-stroke engines.

Greaves proposes to later launch a six-seater diesel vehicle
and flat bed load carriers in the country.

- Piaggio, the Italian auto major, is close to tying up with
Greaves for manufacturing a range of diesel three-and
four-wheelers in the country. The two companies signed a
memorandum of understanding and have already initiated a joint
feasibility study.

- The Power Transmission Division (PTD) of the company is on the
verge of signing two joint ventures - one with the
Singapore-based Team Asia for semi- conductors and another with
an Italian company - Bonfigliloe - to manufacture higher ranges
of transmission equipment and various types of gear boxes,
which are applicable in heavy engineering and earth-moving

- Rajasthan Polymers & Resins Ltd (RPRL) is to be merged with
Greaves Ltd with effect from April 1, as part of a comprehensive
rehabilitation package approved by the Board for Industrial &
Financial Reconstruction (BIFR).

1998 - Greaves Ltd a LM Thapar group company, is doubling the
manufacturing capacity of internal combustion engines at its
Thoraipakkam plant, near Chennai.

- Greaves Limited, which is the country's largest manufacturer of
diesel engines, proposes to enhance the manufacturing capacity
of spark ignition internal combustion piston engines - diesel,
petrol land kerosene versions-from one lakh to two lakh units
per annum.

- The Italian automobile major has an existing tie-up with Greaves
for manufacturing the Ape range of three wheelers in the country.

- Greaves Ltd, is the largest manufacturer of diesel engines with
factories located at Pune, Aurangabad, Ranipet and Thoraipakkam,
Chennai. Greaves has also emerged as the largest manufacturer
of IC engines in the country with a production of 1.8 lakh

- A memorandum of understanding (MoU) was signed between the
Thapar company and the Dutch transmission equipment giant; BTR
European Holdings, in New Delhi.

- The company entered into a memorandum of understanding (MoU)
with BTR European Holdings of Netherlands (BTR) recently to
float a subsidiary which will be promoted in India by BTR or
its associated companies.

- Greaves Limited, the Thapar group company, launched a 50HP
tractor, 'Same' Greaves 503, in Chandigarh.

1999 - Greaves Ltd has joined hands with Piaggio S. P. A. of Italy to
locally produce in India compact engines with in-built gearboxes
for the three-wheelers which the two Companies would be
manufacturing under their joint venture.

- Leading Auto manufacturer Greaves Ltd has tied up with two
Chinese companies to manufacture small tractors (power tillers)
and plans to sell the product at one third the price of a
normal tractor.

- Greaves has entered into an agreement with a Chinese company
Chang Chai and has also entered into an alliance with Dangefeng
Agricultural Machinery Group Corporation for manufacturing rest
of the machinery and body of the power tiller.

- Greaves Ltd, engineering arm of the Thapar group, has launched a
new range of industrial gearboxes for the industry, making it the
only company to offer a wide end unique range of gearboxes for
different industries.

- The company has set up a plant at Baramati, Maharashtra, with a
capacity to manufacture 25,000 vehicles every year.

- The company currently produces the 'APE' range of diesel
three-wheelers under technical guidance from Piaggio. The
company has just launched its APE range of three-wheelers in the
National Capital Region (NCR) of Delhi.

- Greaves, which had entered the industry with 50 hp tractor during
end-1998, will manufacture 'Solaris' tractors in the range of 25,
35, 45 hp at its Ranipet plant in Tamil Nadu.

2000 - Greaves Ltd has decided to set up a 50:50 joint venture company
with its existing technical collaborator Same Deutz SpA of Italy
to manufacture tractors ranging from 25 hp to 70 hp.

- The capacity of petrol/kerosene engines manufactured at Chennai
will be increased to 120,000 engines from the current capacity of
80,000 engines.

- The Company have approved, in principle, the amalgamation of
Rajpath Investments Ltd. a wholly owned subsidiary of the company
with Carnation Investment Ltd. also another owned subsidiary of
the company.

- The Greaves engineering arm of Thapar Group, has entered into a
technical collaboration with Italian Construction equipment giant
Cifa Spa for manufacturing ready mix concrete equipment.

- Greaves Ltd. has converted its tractor manufacturing operations in Ranipet
near Chennai, which was earlier a technical collaboration with SAME of
Italy, into a 50:50 joint venture with the Italian tractor major.

2001- Italian diesel engine major, Lombardini acquires engine manufacturing facility of the Thapar group company, Greaves, at Aurangabad for a consideration of Rs 11 crore


-Greaves Ltd has informed that Mr K K Nohria has resigned from the office of Director of the Company, in view of his pre-occupation.The Board of Directors of the Company at its Meetings held on March 21, 2002 has appointed Mr Vijay Rai as a Director to fill the casual vacancy caused by the resignation of Mr K K Nohria.

- Italian auto firm Same Deutz Fahr Group SPA has taken over its Indian partner, Greaves Ltd, for Rs 26.9 crore from its two tie-up, one to manufacture tractors and the other for tractor engines


-Solaris Chemtech Limited acquires 950,000 equity shares of Rs 10 each of Crompton Greaves Limited from Greaves Ltd., stake increases to 10.83% in the company

- Greaves Ltd to go back to its erstwhile name Greaves Cotton


-Greaves Cotton, part of the B M Thapar group has appointed Karan Thapar as the chairman of the company

-Greaves Cotton signs MoU with Premium Energy Transmissions

-Inks MoU with Corporation Bank for financing farm machines to farmers


-Launches of an all-new Greaves Metro Pump for the construction industry

-Greaves Cotton unveils four new products

- Greaves Cotton Limited has appointed Mr. Vikram Tandon as a Director of the Company to fill the casual vacancy caused by the resignation of Gautam Thapar.


- Greaves Cotton Ltd has informed that the Board of Directors of the Company, has appointed Mr. S D Nayyar as Additional Director of the Company, effective from September 26, 2007.
Oct 26, 9:25 am
Oct 26, 9:24 am
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