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Greaves Cotton > Company History > Engines > Company History of Greaves Cotton - BSE: 501455, NSE: GREAVESCOT

Greaves Cotton

BSE: 501455|NSE: GREAVESCOT|ISIN: INE224A01026|SECTOR: Engines
May 25, 16:00
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May 25, 15:57
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Company History - Greaves Cotton
YEAR                       EVENTS
 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,
        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
        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
        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
        gears and geared motor units and was registered on 6th June. 
        Later, the company was also licensed to manufacture David
        marine gear boxes.
      - Draton Greaves concern was floated in collaboration with
        Regulator & Instrument Co. Ltd., of Middlesix for the
        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,
        clips, mangles, printing machines, etc.
      - On 22nd April, it became a subsidiary of the company by virtue
        such allotment of 425 shares of Rs. 100 each to the company
        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
        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
        shares held by Dronsfield Brothers Ltd., U.K. Greaves
        Ltd., became a wholly owned subsidiary of Greaves Cotton &
      - A technical collaboration agreement was entered into with
        Brown Gear Industries, U.K., for the manufacture of hardened
        profile ground helical gear boxes.  Government gave its
      - 20,265-15% Pref. and 19,250 No. of equity shares allotted
        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
        issued in proportion 1:2.
 1989 - To improve exports further, it was proposed to open offices
        the USSR and East Africa.  The works at the Nasik plant
        to go-slow and the company was forced to declare a lock-out
        the plant effective from 14th June, 1990.  The lockout was
        on 20th October, 1990.
 1990 - During the year, the company introduced Greaves portable
        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
        manufacture of ABS Resins in collaboration with Technochim
        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
        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
        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
        effect from 1st April 1989.
      - During April-May, the company offered 32,89,488 - 12.5%
        fully convertible debentures of Rs. 40 each on Rights basis
        the proportion 1 debenture : 3 equity shares held (all were
        up): Additional 4,93,341 debentures were allotted to retain
      - Simultaneously, another 1,64,475 - 12.5% debentures of Rs. 40
        each were issued to employees including Indian working
        of the Company on an equitable basis (only 75,200 debentures
        taken up).  UN subscribed portion of 89,275 debentures
        to lapse.
      - Each debenture of Rs. 40 was fully and automatically
        into one equity share of Rs. 10 each at a premium of Rs. 30
        share after 12 months from the date of allotment of
        Accordingly, 38,58,029 No. of equity shares were allotted in
      - 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
        the land and building had since been disposed of.  The Nashik
        plant was reported to be suffering from lack of profitable
        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.
        equity shares of each at a premium of Rs. 70 per rights basis
        the proportion 1:1. (all were taken up).  Another 6,85,747 No.
        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
        on preferential basis 12,68,000 - 14.5% secured redeemable
        convertible debenture of Rs. 25 each of Rs. 10 of the face
        was to be converted into 1 equity share on allotment of
        Rs. 15 was to be redeemed.
      - Subject to necessary approvals being obtained, the company
        proposed to issue 1473,81,765 bonus equity shares in
      - 28,552 No. of equity shares allotted to shareholders of
        Greaves Ltd., on its amalgamation 19,91,903 No. of equity
        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
        the world.  A new company was registered in Singapore in the
        of Pacific Greaves Pte. Ltd.
      - It was also proposed to set up a joint venture company with
        overseas consortium partners for installation and developed
        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
        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
        & David Brown Ltd. with the company.  137,40,949 Rights
        shares allotted.
 1994 - Two new products were launched viz., diesel three wheelers
        sale of HIPS resins and partly from the petrol engine unit at
        Thoraipakkam and Commencement of production of diesel engines
        Ranipet, both acquired in January. 
      - The company undertook a project for the manufacture of
        cutter rock bits, used largely in oil well drilling and also
        waterwell drilling in collaboration with Smith Tool Company,
        division of Smith International, Los Angeles, U.S.A.  For this
        purpose a new factory was set up in the MIDC Industrial
        at Nasik.
      - Effective 31st January, the company acquired the Thoraipakkam
        properties of Enfield India Ltd., Chennai.  The company
        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
        and associated diesel engines manufacture in Rankipet, Tamil
        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
        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
        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
        Italy for the manufacture of agricultural tractors and signed
        joint venture agreement with SAME for the manufacture of
        engines for tractors and other uses.
      - The company proposed to increase the capacity for the
        of diesel generating sets at Diesel Engines Unit in
        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
        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
        at Aurangabad and Ranipet will be increased form 60,000
        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
        shortly introducing the Garuda four-stroke petrol
      - In the transportation division, the manufacturing capacity of
        diesel run three wheeler garuda is proposed to be increased
        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
        feasibility study.
      - The Power Transmission Division (PTD) of the company is on
        verge of signing two joint ventures - one with the
        Singapore-based Team Asia for semi- conductors and another
        an Italian company - Bonfigliloe - to manufacture higher
        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
        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
        diesel engines, proposes to enhance the manufacturing
        of spark ignition internal combustion piston engines -
        petrol land kerosene versions-from one lakh to two lakh units
        per annum.
      - The Italian automobile major has an existing tie-up with
        for manufacturing the Ape range of three wheelers in the
      - Greaves Ltd, is the largest manufacturer of diesel engines
        factories located at Pune, Aurangabad, Ranipet and
        Chennai.  Greaves has also emerged as the largest
        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;
        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
        locally produce in India compact engines with in-built
        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
        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
        Agricultural Machinery Group Corporation for manufacturing
        of the machinery and body of the power tiller.
      - Greaves Ltd, engineering arm of the Thapar group, has launched
        new range of industrial gearboxes for the industry, making it
        only company to offer a wide end unique range of gearboxes
        different industries. 
      - The company has set up a plant at Baramati, Maharashtra, with
        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
        National Capital Region (NCR) of Delhi.
      - Greaves, which had entered the industry with 50 hp tractor
        end-1998, will manufacture `Solaris' tractors in the range of
        35, 45 hp at its Ranipet plant in Tamil Nadu.
 2000 - Greaves Ltd has decided to set up a 50:50 joint venture
        with its existing technical collaborator Same Deutz SpA of
        to manufacture tractors ranging from 25 hp to 70 hp.
      - The capacity of petrol/kerosene engines manufactured at
        will be increased to 120,000 engines from the current capacity
        80,000 engines.
      - The Company have approved, in principle, the amalgamation of
        Rajpath Investments Ltd. a wholly owned subsidiary of the
        with Carnation Investment Ltd. also another owned subsidiary
        the company.
      - The Greaves engineering arm of Thapar Group, has entered into
        technical collaboration with Italian Construction equipment
        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
 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
 -Launches of an all-new Greaves Metro Pump for the construction
 -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.
 -Greaves acquires Bukh-Farymann GmbH Diesel, Germany
 -A state-of-the-art Technology Centre and manufacturing facility for
 new G Series engines opened in Pune
 -New Compaction Equipment plant opened in Gummidipoondi, Tamil Nadu
 -A new manufacturing facility for Agro Equipment inaugurated in
 Gummidipoondi, Tamil Nadu.
 -Greaves Cotton - PVPL ties with Greaves for supply of engine
 -Greaves crosses two million mark in light diesel engines
 -Greaves Cotton has declared a third interim dividend of Rs. 2 per
 share for the year ended March 31, 2010. The company has already
 declared two interim dividends, totalling Rs. 4.50 per share.
 -Company has splits its Face value of Shares from Rs 10 to Rs 2
 -Greaves Cotton Ltd has entered into a long-term supply agreement
 with Mahindra & Mahindra Limited (M&M) for supply of single cylinder
 engines for their three-wheeled vehicles.
 -Greaves sets up Light Engines Unit V at Aurangabad
 -Greaves crosses three million mark in light diesel engines.
 -The Company has appointed Dr. Clive Hickman as an Additional
 - Greaves Farm Equipment Business, part of Greaves Cotton Limited,
 one of India's leading engineering companies, launched its first
 ever, compact, mini - tractor, Ustad.
 - Greaves Construction Equipment Business, part of Greaves Cotton
 Limited, one of India's leading engineering companies,launched its
 high capacity Concrete pumps, with contemporary S Valve technology. 
 - Greaves Automotive Engines Business, part of Greaves Cotton
 Limited, one of India's leading engineering companies, has added TVS
 Motor Company to its list of customers, for supply of single cylinder
 diesel engine (G435) for the TVS King DS (diesel variant). Currently
 plying on roads in Kerala, Southern India, TVS King DS offers Good
 mileage with Good power to its customers.
 - Country's leading engineering companies Greaves Cotton,announced
 that its subsidiary Greaves Auxiliary Power Business, has launched
 its fuel efficient, smartly designed auxiliary power solutions,
 compliant with latest emission norms. 
 - Greaves Cotton Ltd said that its arm Greaves Construction Equipment
 Business has launched the first of its 37 metres 3 axle truck mounted
 boom pump - GCP3709Z.
 - Greaves Cotton Ltd has recommended a final dividend at the rate of
 Rs. 0.60 per equity share of the face value of Rs. 2.
 - The appointment of Ms. Monica Chopra as an Additional Director
 designated as Whole Time Director of the Company.
 - The Registered Office of the Company has shifted from old address
 to 3rd Floor, Motilal Oswal Tower, Junction of Gokhale and Sayani
 Road, Prabhadevi, Mumbai - 400 025.
 -Greaves Cotton launches new range of Farm Equipment Products Under
 its 'Sampurna Swadheshi Programme'
 -Greaves Cotton ventures into Multi Brand Spares Business.
Source : Dion Global Solutions Limited
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