The company was incorporated as a Public Limited Company on the 31st July, 1974 under the Companies Act, 1956 and obtained the certificate of commencement of business on the 4th March, 1975. PRESENT BUSINESS: The company is presently engaged in manufacturing and supplying a wide range of underground mining machinery mainly Air Powered Rocker Shovel Loaders, Electro Hydraulic Side Dump Loaders, Diesel, Electric and Pneumatic Load-Haul Dump Machines, Auger-cum-Drills, Air Motors and spares thereof for Metalliferrous, Coal, Construction and Tunnelling Industries. The company also provides comprehensive product support by way of pre-sale application engineering advice, commissioning, after sale services, training of personnel, supply of spares and reconditioning/overhauling of used equipments. PROMOTERS AND THEIR BACKGROUND: Eimco Elecon (India) Ltd. (EEIL) was promoted by Envirotech Corporation, USA, Elecon Engineering Co. Ltd. and its Chairman & Managing Director Mr. Bhanubhai I. Patel. The company made a maiden public issue of 1,346,500 equity shares of Rs.10 each at a premium of Rs.55 per share aggregating Rs.8.78 crores for financing its working capital requirements. The company is the market leader in the mining machinery field and is presently engaged in the manufacture of high technology drills and loaders used in underground mining. 2003-Resignation of Shri C. T. Dave, the Executive Director of the Company. 2004 -Eimco Elecon enters into Collaboration Agreement with VOEST-ALPINE Bergtechnik Ges.m.b.h, Austria 2009 - Eimco Elecon India Ltd has informed BSE that the company has appointed two new Independent Directors on the Board whose names are given below: 1. Mr. Shreevardhan Sinha 2. Mr. Jal R Patel - Eimco Elecon India Ltd has informed that the company has appointed Mr. Vihang A Virkar as an Independent Director on the Board on July 30, 2009, effective after the Annual General Meeting proceedings are over. 2010 -Eimco Elecon has recommended a dividend of 40% 2011 -Mr. M. G. Rao has been apopointed as Wholetime Director of the company. -Mr. Nirmal Bhogilal has been apopointed as Additional Director (Independent) of the company. 2012 -Shri Nalin M. Shah has been apopointed as Additional Director (Independent) of the company. -Eimco Elecon has recommended a dividend of 40% 2013 -Eimco Elecon has recommended Dividend on Equity Shares @ Rs. 4/- per Share i.e. 40%. 2014 -Company has recommended a dividend of 40% i.e. Rs. 4/- per equity share of Rs. 10/- each.