MUMBAI: Greaves Cotton has handed the reins of its energy solutions business to Swarnendu Jha, a 26-year power industry veteran who has hopscotched between diesel engine makers and generator specialists from Pune to the Gulf.
The Mumbai-listed engineering firm promoted Jha to vice president of energy solutions on Sunday, whilst simultaneously making marketing and sales head Abhijit Joshi report to the newly-minted Jha. With that, Joshi has lost his status as senior management personnel under stock exchange rules.
Jha’s appointment caps a career spent navigating India’s stuttering power sector, from his early days at Kirloskar Oil Engines through stints at American heavyweight Cummins and a spell flogging Caterpillar generators across the Gulf states with distributor Mar Al Bahar. The mechanical engineering graduate from Pune University later topped up his credentials with a sales and marketing diploma from Symbiosis—academic armour for battling in India’s cut-throat industrial markets.
The reshuffle comes as Greaves Cotton, founded in 1859 during the British Raj, grapples with India’s energy transition. The company has been pivoting from its traditional diesel engine roots towards cleaner technologies, including electric vehicles and renewable energy solutions, as environmental regulations tighten and customer preferences shift.
Joshi’s reporting change, which is what Greaves Cotton has diplomatically framed it, suggests the company wants a more seasoned hand steering its energy portfolio. The move mirrors broader corporate India’s tendency to parachute industry specialists into key roles as competition intensifies and margins compress.
The timing is telling: India’s power equipment sector faces headwinds from slowing industrial growth and delayed project approvals, even as the government pushes aggressive renewable energy targets. Companies like Greaves Cotton must thread the needle between supporting India’s coal-fired industrial base and positioning for a cleaner energy future.
For investors, the appointment signals Greaves Cotton’s intent to professionalise its energy division management, though whether Jha’s considerable experience can translate into improved performance remains to be tested against India’s notoriously fickle power markets.