There was a big overhang regarding stakesale of foreign promoter group Tamrock Great Britain Holdings limited. They hold about 25% equity in the company. Officially the process has started now. Patels (promoters of Elecon group) wanted this stake at lower price but Tamrock was exploring other possibilities at better price. May be Patels have finalised some deal with Tamrock. Clarity may come in few days.
These are technical reasons anyways. More important things which matter are fundamentals. UG mining has very bright prospects.
@sahilgoel1606 your information is correct. The CM package of Eimco Elecon may take another 6 months including the final approvals. But this is just the beginning, opportunity size is quite big. Full effect of CM package sales will come only in FY 27.
Disclosure: Remain invested with meaningful allocation. Have transactions (added) in last 2 months.
Chairman speech from the last AGM held on 25 June 2025.
Important updates:-
The entire offering of the CM Package is ready. Now, in the coming days, the focus is to establish the performance of these equipment.
In the construction space, other than additional models for Piling Rigs, they are advancing the development of Diaphragm Wall Machines, further expanding thier product portfolio. This is a very high value equipment, currently being imported in India. Attaching a link here which will help in understanding what this equipment is. Best TG50 Diaphragm Wall Equipment Manufacturer and Factory | SINOVO
Company has good moat in UG coal mining equipmemt which is growing quite fast. Now they are in the process of developing new products in the contruction equipment space (creating adjacencies around core competency). Future prospects appears quite bright.
As per the latest presentation, their open order book has declined to ₹39 crore from ₹125 crore year-on-year. How do you view the outlook going forward?
