Eimco Elecon is India’s original underground-mining machine builder - the company that first put Side Dump Loaders and Load Haul Dumpers into Indian coal and metal mines, and still supplies the intermediate technology that moves roughly two-thirds of the country’s underground coal. It began in 1974 as a joint venture between the Elecon group and what became the Sandvik group, and spent five decades building a franchise so embedded that it calls its competitive position “unrivalled”. In 2025 the original shareholders’ agreement was terminated, and the foreign partner sold its entire stake, leaving Eimco Elecon as a fully independent Indian manufacturer with a single factory in Vallabh Vidyanagar, Gujarat, and a recurring approach of designing heavy machines for the toughest underground conditions, then supporting them with a high-margin after-sales network. # Business segments Two engines at different scales - a five-decade underground-mining franchise that is the cornerstone of the business, and a smaller construction-equipment division built on indigenised piling technology - both served by the same Gujarat factory and after-sales network. ## 1. Underground mining equipment: the cornerstone franchise **The company makes the intermediate-technology loaders and haulers that produce over 70% of India’s underground coal, and has recently added a full continuous-miner package and battery-operated vehicles - a one-stop shop for underground mines.** - **The backbone of Indian underground coal** - Side Discharge Loaders (SDLs) and Load-Haul-Dump (LHD) machines, the company’s core products, meet approximately 65% to over 70% of total underground coal production in India, making Eimco Elecon the leading player in the segment. - **First-mover advantage that stuck** - it was the first Indian company to introduce SDLs, LHDs, Universal Drill Machines and Rocker Shovel Loaders into Indian mines, and those five decades of presence have built long-standing relationships with key customers like Coal India Limited and Singareni Collieries. - **From loaders to a complete mining package** - the company has indigenously developed a blast-free Continuous Miner system, upgraded to the higher-powered CM3500 for medium-to-thick coal seams, and bundles it with shuttle cars, roof bolters and a feeder breaker, positioning itself among the few players offering an integrated one-stop solution. - **Going electric underground** - in April 2026 it launched India’s first fully indigenous battery-operated vehicles for underground coal mines: a multi-utility vehicle with a 10-tonne payload that fits in seams as low as 1.5 metres, and a man-riding vehicle that carries fourteen personnel in seams down to 1.35 metres, both meeting explosion-protection standards for gassy mines. - **After-sales is the high-margin anchor** - an extensive service-and-spares network supports every machine sold, generating recurring revenue at higher margins and locking in customer relationships long after the initial sale. ## 2. Construction equipment: a niche in piling, built under Make-in-India **The smaller division makes piling rigs for foundation work on metros, bridges and highways - the only domestic manufacturer producing them across multiple sizes - and sells articulated wheel loaders into a fiercely price-competitive market.** - **India’s only multi-size domestic piling-rig maker** - the EC 216 piling rig was developed in technical collaboration with CZM of the USA and is described as the first completely indigenised Indian piling rig under the ‘Make in India’ initiative; the company has since added further models and is developing Diaphragm Wall Machines. - **Designed for hard Indian rock** - the rig uses a high torque-to-weight ratio for productivity with low fuel consumption, an anti-shock valve for smooth cutting through hard rock, and a Kelly bar made from special Hardox steel. - **Loaders face Chinese price pressure** - the articulated wheel-loader range spans 2.3-tonne and 3.5-tonne payload capacities, but the company acknowledges heavy competition from national and global players, with Chinese manufacturers offering similar equipment at “very competitive prices”. - **Early steps toward exports** - the company is exploring export potential for its construction equipment in South East Asia and Africa, while piling rigs have already been delivered to multiple regions across India. # Group structure and partners **Eimco Elecon is now a fully independent listed company with no subsidiaries or joint ventures, after the clean separation from its original foreign partner in 2025.** - The shareholders’ agreement between the Elecon group and the Sandvik group (via Tamrock Great Britain Holdings) was terminated on 23 April 2025, ending all inter-se rights and obligations that had governed the company since 1992. - Tamrock Great Britain Holdings Limited subsequently sold its entire 24.68% stake through an Offer for Sale in September 2025 and was reclassified from promoter to public shareholder, with Sandvik raising no objection to the company continuing to use the “Eimco” name. - As of March 2026, Promoter and Promoter Group hold 48.96% and the public holds 51.04%; the company has no subsidiary, joint venture or associate. - The company uses Emtici Marketing LLP, a related party, for its mining-industry network to generate business and provide after-sales support, paying a commission as a percentage of sales. - In December 2025, members approved expanding the company’s objects to include defence platforms, embedded systems, pharmaceuticals and medical equipment, and the corporate identification number was reclassified to special-purpose machinery in January 2026.