Company History - Elecon Engineering Company
1960 - The Company was incorporated as a Private Limited Company and
converted into a public limited company on 26th September,
The company manufactures all kinds of mechanical handling
equipments such as bucket elevators, belt conveyors, gravity
rollers, conveyors, bag filling machines, bag stacking
overhead chair conveyors etc.
1965 - Issued 12,000 Right Equity shares at par in the prop. 1:5,
No. of Equity shares forfeited. 6,824 shares issued for
consideration other than cash during 1960.
1974 - 24,000 - 9.8% Pref. shares issued to the public. Pref.
redeemable during 30.6.1982/84 at 3 months' notice.
1976 - 36,000 Right Equity shares issued at par in prop. 1:2.
1977 - 54,000 Bonus Equity shares issued in prop. 1:2.
1979 - Chitraj Engineering Co. (P) Ltd. became a wholly owned
subsidiary of the Company from 9th November.
1981 - Equity shares sub-divided on 15.6.1981. 8,10,000 Bonus
shares of Rs 10 issued in prop. 1:2 on 29.6.1981.
1982 - The name of this subsidiary was changed to Elecon (Chennai)
with effect from 2nd February. The subsidiary's working was
affected by paucity of orders and natural calamities during
- In January, the Company issued to the public 5,50,000-13.5%
convertible secured debentures of Rs 100 each.
1983 - During March, consequent upon conversion of 55% of the face
value of convertible debentures, the Company issued equity
of Rs 10 each credited as fully paid-up at a premium of Rs
per share in the prop. 2 No. of equity shares for every
debenture. Shares were allotted on 12th March.
- Pref. shares redeemed on 31.12.1983. 10,99,632 No. of equity
shares allotted on conversion of debentures on 12.3.1983.
1984 - Authorised capital reclassified.
1987 - 21,17,778 Bonus shares issued in prop. 3:5.
1988 - A letter of registration was received for the manufacture of
articles viz., shearer and continuous miner with an annual
capacity of 10 units.
1989 - The High Courts of Chennai and Gujarat by their orders dated
14th February, and 22nd March, 1990 respectively approved the
scheme of amalgamation of the wholly owned subsidiary Elecon
(Chennai) Ltd. with the Company effective from 1st January,
Accordingly, Elecon (Chennai), Ltd. was dissolved without
winding up effective from 1st January, 1987.
- The Company's sales declined to Rs.99.75 crores mainly due to
irregular inflow of orders because of severe competition
led to uneven load in the workshops.
1990 - The Company has issued 5,00,000-14% secured redeemable
non-convertible debentures of Rs 100 each by private placement
SBI Capital Markets Ltd., and Canara Bank in equal prop. to
the longterm working capital needs of the Company. These
debentures are redeemable at a premium of 5% in three equal
annual instalments between 19th September, 1996 to 19th
- The Company's profits were low due to non-receipt of export
benefits worth Rs.113 lakhs from the export order of EGAT
was already completed and higher tax liability.
1991 - The working results were adversely affected due to increased
interest rates, large overdue receivables from Electricity
Boards, execution of contracts with lower margins, etc.
- The Company proposed to diversify into the business relating
vegetable and fruit processing, food processing and
of edible oil seeds, extraction and refining of edible oil,
silos, cattle and poultry feeds.
1993 - The Company proposed to dispose of the Chennai division in
of poor performance of the unit.
1994 - The Company had successfully implemented the Alternate Energy
System. It installed 7 wind mills, out of these 5 were sold
outside parties and 2 were retained by the company for its
- The Company has entered into a technical collaboration
with HMZ Belgium N. V. Balgium for manufacture of windomaster
wind Energy Generators, which is one of the best available in
the world with larger energy generation.
1995 - The liquidity and profitability of the company was adversely
affected on account of large over due receivables.
- 11 Wind Mills were commissioned which already started
power. The Company had decided to abandon diversification
shrimp feed production, in view of the recessionary conditions
shrimp farms, all over India.
1996 - Efforts to realise large over due receivables from State
Electricity Board and Central Government Corporation were
successful. The Company secured an order from Neyveli Lignite
Corporation Ltd. for manufacture, erection and commissioning
of 2400 MM Drive Heads and conveyors for its Mine-III.
- The diversification programme in the field Alternate
non-conventional energy source continued. The company
eight additional wind mills during the year raising the total
1997 - Eleven wind mills erected in Gujarat for captive consumption
were lost due to severe cyclone. The installed seven
Wind Mills during the year.
- The Company's sales and other services declined to Rs.159.80
crores due to the recessionary conditions.
- Authorised capital increased.
1998 - The Company launched Super NU Universal Mounting Worm Gears
provide improved power ratings and are well accepted by
- The Company launched POSIRED 2 Helical Bevel Gears for which
company has entered into a technical collaboration with
Antrieb Werner Reimers GmbH & Co. KG, Germany.
-Elecon Engineering produces gear boxes for Stealth Frigate battle
-Elecon Engg gets Rs 26 cr order from APGenco
-Company has splits its Face value of Shares from Rs 10 to Rs 2
-Elecon Engineering Company Ltd has signed a Memorandum of
Understanding (MoU) with the Government of Gujarat (GoG) at the
Vibrant Global Investors' Summit 2007 held on January 13, 2007.
- Elecon Engineering Company Ltd has informed that the Company has
been awarded a contract worth Rs 229.09 Crores for supply and
installation of Coal Handling Plant Package for National Capital
Termal Power Project (NCTPP), Dadri, Stage II (2 x 490MW) from NTPC
- Elecon Engineering receives order of Rs 57.70 crores from BHEL.
-The Company has issued Bonus Shares in the Ratio of 2:1.
- Elecon Engineering Company Ltd has informed that the Board of
Directors of the Company at its meeting held on July 29, 2008, Shri.
Prashant C Amin appointed as Additional Director of the Company.
- Elecon Engineering Company Ltd has bagged three orders worth Rs
51.74 crore from Techpro Systems, Chennai and SAIL- Durgapur Steel
- Elecon Engineering Company Ltd has informed that the Company has
been awarded some prestigious order of Rs 17.75 Crores from following
client for design, engineering, manufacturing, testing, supplying,
fractioning and commissioning of Material Handling Equipments and
- Client : Techpro Systems Ltd, Chennai
- Details : Supply of 1 No. Unidirectional Stacker cum Reclaimer & 1
No. Slewing Boom Stacker
- Value : Rs 17,75,00,000/-
-Elecon Engineering has been awarded some prestigious order of Rs.
18.50 Crores from Techpro Systems Ltd.
-Elecon Engineering has been awarded a prestigious order of Rs 11.14
Crores from following client for design, engineering, manufacturing,
testing and supplying of Material Handling Equipments and other
-The Company has been awarded some prestigious orders aggregating to
Rs. 88.35 Crores.
-Elecon Engineering strengthens on bagging Rs 499 mn order from Sical
-Elecon Engineering bags Rs519.2mn order from BGR Energy
-Elecon Engineering acquisition of Benzlers - Radicon Group, UK.
-Elecon Engineering bags orders worth Rs 432.5 mn
-Elecon Engineering has been awarded prestigious orders of Rs. 24.83
Crores from S.K.Samanta & Co. (P) Limited
-Elecon Engineering as been awarded prestigious order of Rs. 15.50
Crores from SHRI BAJRANG POWER AND ISPAT LIMITED
-The Company has been awarded prestigious order of Rs. 33.00 Crores
from Bharat Heavy Electrical Ltd.
-Elecon Engineering has been awarded prestigious order of Rs. 25.46
Crores from Lance Infratech Limited
-Elecon Engineering has been awarded prestigious order of Rs. 176.49
Crores from NMDC Limited
-The Company has been awarded prestigious order of Rs. 12.95 Crores
from The Indure Pvt. Ltd.
-Elecon Engineering bagged orders worth Rs 22.6 cr
-Elecon Engineering bags Letter of Content worth Rs 19.45 cr from
-Elecon Engineering Company bags Rs 16.3 cr order from IFFCO
-Elecon Engineering bags Rs 104.41 cr order from BHEL.
-Elecon Engineering Ltd has bagged order worth Rs 46.97 crores from
Tecpro Systems Limited for Kanti Bijali projects of NTPC Muzaffarpur
-Elecon Engineering bags Rs 14.42 cr orders from Monnet Ispat &
-Elecon Engineering Company Ltd has been awarded Letter of intent of
Rs. 12,21,67,565 ) from NMDC Limited.
-Elecon Engineering Company Ltd- Subsidiary Company namely Elecon EPC
Projects Limited, has been awarded a prestigious order from NTPC
-Board recommended a dividend of Rs. 1 per equity share of Rs. 2/-
each (i.e. 50% Dividend).
-Elecon Engineering bags Rs 300 cr order from Mazagon Dock
-Elecon Engineering Company Ltd has been awarded a prestigious order
from Garden Reach Shipbuilders and Engineers Limited for supply of
Marine Gearboxes aggregating worth of Rs. 225 Crores.