Greaves Cotton Limited has announced that its wholly owned step-down subsidiary, Greaves Technologies Inc (GTI), has applied for voluntary dissolution with the relevant authorities in Delaware, USA. The dissolution is expected to be finalized by February 28, 2025, pending required approvals. This move is part of the company’s strategy to streamline operations, enhance overall corporate performance, and rationalize its group structure.
According to the company’s filing with the BSE and NSE, the dissolution will have minimal financial impact on Greaves Cotton’s consolidated results. For the fiscal year 2023-24, GTI reported a revenue of just Rs. 0.29 crore and a loss of Rs. 0.06 crore, contributing only 0.01% to the parent company’s consolidated revenue.
Greaves Cotton has stated that this move will not affect its business or revenue. GTI is a subsidiary of Greaves Technologies Limited (GTL), which is wholly owned by Greaves Cotton, and both GTI and GTL are not considered material subsidiaries. A separate update will be provided once the dissolution receives necessary statutory approvals.
Greaves Cotton has transitioned into a multi-sector conglomerate with a focus on engineering, e-mobility, retail, finance, and technology, particularly in the electric vehicle segment as part of its commitment to sustainable mobility. Over the years, Greaves Cotton has evolved from a single-fuel, single-product company into a diversified engineering powerhouse, offering sustainable mobility solutions, clean energy products, and advanced engineering innovations.
The company’s commitment to inclusivity is evident at its state-of-the-art motors and controllers facility in Shendra (Aurangabad), which is fully operated by a female workforce, setting a benchmark for diversity in manufacturing. Guided by the core values of Panchtatva—the five elements that drive sustainability and innovation—Greaves continues to focus on green mobility and digital integration, aiming to impact a billion lives by 2030. With five independent business units—Greaves Engineering, Greaves Electric Mobility Ltd., Greaves Retail, Greaves Finance Ltd., and Greaves Technologies Ltd., the company is strategically investing in technology and human capital to lead India’s EV and sustainable mobility transition while maintaining its legacy of trust and excellence.
