Diversification paying, new segments form 26% of business: Greaves Cotton

Greaves Cotton, a 162-year old company that once focused on selling automotive diesel engines, has set up a non-bank financial company as part of diversification strategy begun four years ago, said a senior executive on Thursday. New segments, like Non-Auto and E-Mobility, now contribute around 26 per cent.

It does not include Greaves Finance, which is the most recent foray. “All of our businesses are beginning to grow in double-digits, except our auto engines business, which is obviously in direct correlation to the (three-wheeler) market, which is down 60 per cent. Even …