This document proposes and compares three methods for converting a color image to grayscale while embedding color information, and then recovering the original color image. Method 1 embeds the normalized green and blue color planes in the low-high and high-low subbands of the wavelet-transformed red plane. Method 2 embeds the normalized green and blue planes in the high-low and high-high subbands. Method 3 embeds them in the low-high and high-high subbands. The document finds that Method 2 performed better, as it gave better color recovery results when using Kekre's wavelet transform compared to the other transforms and methods.