Telco Construction Equipment Company Limited (Telcon) is engaged in the business of development, manufacture and sale of construction, earthmoving and mining equipment and provision of after sales and allied services thereto. The Company has a 60% holding in Telcon, with the balance 40% being held by Hitachi Construction Machinery Company Limited, Japan. Telcon is the largest manufacturer in the construction equipment industry in the country and has two manufacturing plants - at Jamshedpur in Jharkhand and at Dharwad in Karnataka. Telcon is coming up with a third plant in Kharagpur that would be spread over 60 hectares with additional facilities for a vendor park. The Kharagpur plant will produce backhoe loaders, midi excavators, off - highway dump trucks, wheel loaders and large mining shovels. This will take Telcon towards being a full liner in the construction equipment business. The Kharagpur plant will also house a full - fledged R&D centre. Hitachi, while actively participating in creating the R&D facilities, will aim at making the new centre a global R&D hub.

Telcon had sold 5194 machines (previous year 7698 machines) and recorded a gross revenue of Rs.2143 crores (Previous year Rs. 2735 crores), a Profit after Tax of Rs. 85 crores ( Previous year Rs. 324 crores) and declared a dividend of Rs. 5/- per share (Previous year Rs. 8/- per share). The Company has two subsidiaries in Spain namely Serviplem S.A and Comoplesa Lebrero S.A, which was acquired early during the financial year. The consolidated gross revenue of Telcon was Rs.2339 crores, profit before tax was Rs. 87 crores and the profit after tax was Rs. 34 crores.