The Board of Directors of Elecon Engineering Ltd, one of India's largest Material Handling Equipments and Transmission Products Manufactures, announced its un-audited results for the second quarter ended on September 30th 2011. The company achieved a turnover of Rs 335 crore as against Rs 278 crore for the corresponding period in the previous year, representing a growth of 20%.

Profit before tax increased from Rs 20 crore to Rs 25 crore representing a growth of 24%. Net profit after tax increased from Rs 14 crore to Rs 16 crore representing a growth of 10%.

Commenting on the results Mr Prayasvin Patel, Chairman & Managing Director, Elecon Engineering Company Ltd, said, "The growth in turnover and net profit has come from increased marketing efforts, better manufacturing efficiencies and rationalisation of costs. The Material Handling Division has achieved a significant growth of 19% with a large order book position and the Gear Division has also shown a remarkable growth of 22%. We look forward to continuing this trend."

Established in 1951, Elecon Engineering Company Ltd of Vallabh Vidyanagar, Gujarat, India, pioneered the manufacture of material handling equipment. During these five decades, Elecon has designed and implemented several landmark projects in India as well as abroad. From a modest start of design and manufacture of Elevators and Conveyors from which incidentally, the company derives its corporate identity, viz., "Elecon". It has grown over the years to be known as a pioneer of the concept of mechanized way of Bulk Material Handling Equipment in India.

During the span of more than 5 decades, Elecon has encompassed all the major core sectors through its supplies of highly sophisticated equipment bearing ample testimony of the symbolic mark of Elecon's unbeatable technology. Elecon has thus, made its presence felt through consistent and satisfactory performance of its equipment in such core sectors as fertilizer, cement, coal/power generation, chemical, steel plant and port mechanization, etc., across the country.