Eimco Elecon (India) Limited has informed the Exchange regarding 'Chairman's Statement, delivered at the 51st AGM'.
EIMCOELECO · price
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Eimco Elecon reported FY25 revenue of Rs. 246.47 crore, up 8.34% from Rs. 227.50 crore in FY24. Net profit after tax grew 21% to Rs. 48.90 crore from Rs. 40.41 crore, and the board recommended a 50% dividend. The company terminated its 1992 shareholders' agreement with the Sandvik and Elecon groups via a Termination Agreement signed on 23rd April 2025. Foreign promoter Tamrock Great Britain Holdings (Sandvik group) is reviewing its strategic plan regarding its shareholding in Eimco Elecon, an update previously disclosed on 4th June 2025. Management highlighted a positive decade-long outlook, citing India's push to raise underground coal production share from under 4% to 10% by 2030 and growing demand for blast-free mining technology.
Strong FY25 results with double-digit profit growth and a generous 50% dividend signal healthy shareholder returns. The termination of the long-standing joint venture agreement and the foreign promoter's strategic review of its stake are material developments that could reshape the ownership structure and warrant close monitoring by investors.