Parag succeeds Arup Basu, who resigned from the position of managing director of the company and whose employment contract will come to an end at the close of business hours on 9 May 2025, it added.

In his new role, Satpute will oversee the strategy and operations of Greaves Engineering, Greaves Retail, Greaves Technologies, and Excel Controlinkage, the company said.

Satpute, who has nearly 3 decades of experience in the mobility and manufacturing sectors, joins the company from Bridgestone Mobility Solutions, where he served as the president of their fleet business, besides earlier serving in the position of the managing director of Bridgestone India.

Satpute holds a mechanical engineering degree from Pune University and an executive MBA from Warwick Business School. Parag's responsibilities will include strengthening and growing these businesses and driving business growth, the firm said.

Commenting on his new role, Parag Satpute, managing director & group CEO, Greaves Cotton, said, 'I am excited to join Greaves Cotton Limited at this pivotal moment in its journey. The company’s’ demonstrated legacy in empowering lives through sustainable and accessible solutions resonates strongly with me. I look forward to working closely with the team to advance this vision and drive strategic business outcomes.'

Greaves Cotton is a multi-product and multi-location engineering company. The company is a leading Greaves Cotton spurts on appointing Parag Satpute as MD & group CEO Greaves Cotton soared 5.83% to Rs 193.30 after the company announced appointment of Parag Satpute as its new managing director (MD) and group chief executive officer (GCEO).

Parag succeeds Arup Basu, who resigned from the position of managing director of the company, and whose employment contract will come to an end on the close of business hours of 9 May 2025, it added.

In his new role, Satpute will oversee the strategy and operations of Greaves Engineering, Greaves Retail, Greaves Technologies, and Excel Controlinkage, the company said.

Satpute, who has nearly 3 decades of experience in the mobility and manufacturing sectors, joins the company from Bridgestone Mobility Solutions, where he served as the president of their fleet business, besides earlier serving in the position of the managing director of Bridgestone India.

Satpute holds a mechanical engineering degree from Pune University and an executive MBA from Warwick Business School. Parag's responsibilities will include strengthening and growing these businesses and driving business growth, the firm said.

Commenting on his new role, Parag Satpute, managing director & group CEO, Greaves Cotton, said, 'I am excited to join Greaves Cotton Limited at this pivotal moment in its journey. The company’s’ demonstrated legacy in empowering lives through sustainable and accessible solutions resonates strongly with me. I look forward to working closely with the team to advance this vision and drive strategic business outcomes.'

Greaves Cotton is a multi-product and multi-location engineering company. The company is a leading name in fuel-agnostic powertrain solutions, e-mobility, aftermarket & retail.

The company’s consolidated net profit declined 85.35% to Rs 6.68 crore in Q3 FY25, compared with Rs 45.60 crore in Q3 FY24. Revenue from operations jumped 12.81% YoY to Rs 750.60 crore in Q3 FY25.