What HEC does

Heavy Engineering Corporation Limited (HEC) is a 100% Government of India-owned Public Sector Undertaking under the Ministry of Heavy Industries, headquartered in Ranchi, Jharkhand. Founded in 1958 to achieve self-sufficiency in heavy engineering equipment for India's core sectors — originally steel — the company operates one of India's largest integrated heavy engineering complexes across approximately 2.1 million sq.m, with four manufacturing units: Foundry Forge Plant, Heavy Machine Building Plant, Heavy Machine Tools Plant, and a Projects Division. Its product portfolio spans steel plant equipment (blast furnaces up to 3,200 CuM, coke oven batteries, continuous casters, steel melting converters, forged rolls), mining machinery (5/10 CuM electric rope shovels, 24 CuM walking draglines, gyratory and cone crushers), heavy CNC and conventional machine tools (vertical turning/boring up to 14m job diameter, plano milling, deep hole boring), EOT cranes up to 450T capacity, castings and forgings (up to 90T steel castings, 65T forgings), and turn-key project execution for material/coal handling plants. Specialized capabilities extend into defense (Indian Mountain Gun, T72 turret castings, naval HSLA steel), space research (ISRO launch pad cranes, FCVRP platforms, maraging steel rings), and nuclear sectors (VECC cyclotron magnets, nuclear-grade forgings).

HEC's revenue model is predominantly B2B enterprise sales of custom-engineered capital equipment to government-owned enterprises and large private sector customers. Pricing is quote-based and project-specific, executed through government tender processes for PSU clients (SAIL, Coal India, NTPC, BHEL, ISRO, Indian Railways, Indian Navy, Indian Army, DAE) and direct negotiation for private customers (Tata Steel, Jindal). Revenue streams include one-time equipment sales, spare parts and after-sales support, turn-key project execution (concept-to-commissioning, including design, engineering, erection, and commissioning services), and internal job work. Distribution is direct — no intermediary channels are used given the custom-engineered, technically specified nature of the products. Geographic reach is primarily domestic India, with historical exports to Turkey, Egypt, USSR/Russia, Sri Lanka, Bangladesh, Cuba, and Bulgaria, and recent MoU-level exploration of Tajikistan and Russian mining partnerships.

The company is governed by a board led by a Chairman & Managing Director with functional directors for Production, Finance, Marketing, and Personnel, plus government nominee directors from the Ministry of Heavy Industries. Operational certifications include ISO 9001:2015, ISO 14001:2015, and ISO 45001:2018 for HMBP. Accumulated technology licenses from Hitachi, Creusot Loire, SMS Schloemann Siemag, Lurgi, O-M, Herkules, Hegenscheidt, Boehringer, Bucyrus-Erie, GHH Sterkrade, and others form the technical base of its manufacturing capabilities. The company's revival has been under judicial monitoring by the Jharkhand High Court since 2004, and it has won multiple turnaround and PSU excellence awards (BRPSE 2010, BT-STAR 2012, SCOPE 2007-08).

Name

HEC

Legal name

Heavy Engineering Corporation Limited

Website

https://hecltd.com

Company type

Private

Founded year

1958

Operating status

Operating

Headcount range

11–50 employees

Short description

HEC is a Government of India PSU that designs and manufactures heavy capital equipment — including steel plant machinery, mining equipment, machine tools, cranes, and castings/forgings — for steel, mining, defense, space, nuclear, railways, and power sector customers.

Ownership category

akta.pro rank

Product category

Heavy Engineering & Industrial Capital Equipment

NAICS

Agriculture, Construction, and Mining Machinery Manufacturing (3331), Mining and Oil and Gas Field Machinery Manufacturing (33313), Overhead Traveling Crane, Hoist, and Monorail System Manufacturing (333923), Metalworking Machinery Manufacturing (3335), Industrial Machinery Manufacturing (33324)

SIC

Construction, Mining & Materials Handling Machinery & Equip (3530), Metalworkg Machinery & Equipment (3540), Machine Tools, Metal Cutting Types (3541), General Industrial Machinery & Equipment (3560)

akta.pro primary industry

Metals & Steel Mill Facility Construction (IMAFADAF)

akta.pro secondary industries

Process Plant & Materials Handling EPC (Crushing, Conveying, Stockpiles, Loadout) (IMAKAOAE), Construction Equipment MRO (Earthmoving, Roadbuilding, Mining) (TLAKAHAA), CNC Machine Tools (Turning, Milling, Machining Centers) (IMAHADAA)

Keywords

• Heavy engineering equipment
• Capital equipment manufacturing
• Steel plant machinery
• Mining equipment supplier
• Industrial castings forgings

Headquarters

HQ city

Ranchi

HQ country

India

HQ region

Asia

Offices4 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Personnel, Operations, Infrastructure, Supply Chain, Technology or R&D, Marketing or Sales

Revenue model

1. Capital Equipment Manufacturing and Supply: HEC manufactures and supplies heavy capital equipment including steel plant equipment, mining equipment, crushing equipment, machine tools, cranes, and castings/forgings to core sector industries. Revenue is generated through one-time equipment sales with potential for repeat orders from same customers. The company also supplies spare parts and provides after-sales support.
2. Turn-key Project Execution: HEC executes turn-key projects from concept to commissioning in sectors including mining, power, and steel. Projects include material handling plants, coal handling plants, coal washeries, and complete plant engineering. Revenue from projects includes design, engineering, manufacturing, erection, testing, and commissioning services.
3. Job Work and Internal Services: Internal job work for use within plants and township services contribute to other revenue streams. Revenue from jobs for internal use and inter-plant transfers across the four manufacturing divisions.

Go-to-market motion2 records

Distribution channels4 records

Marketing channels5 records

Core offering

HEC manufactures and supplies heavy engineering capital equipment and executes turn-key industrial projects for India's core sectors through four integrated manufacturing units. Its portfolio spans steel plant equipment (blast furnaces, coke oven batteries, continuous casters, forged rolls), mining equipment (electric rope shovels and walking draglines), crushing and mineral processing equipment, heavy CNC machine tools, EOT cranes up to 450T, heavy steel castings up to 90T and forgings up to 65T, plus specialized equipment for defense, space, and nuclear customers.

Product overview

HEC (Heavy Engineering Corporation Limited) is a Public Sector Undertaking under the Ministry of Heavy Industries, Government of India, headquartered in Ranchi. The company operates as an integrated heavy engineering complex spanning approximately 2,100,000 sq.m, with facilities from steel melting, casting, forging, fabrication, machining, assembly and testing. HEC offers a comprehensive portfolio of capital equipment across multiple business segments: Steel Plant Equipment (including Blast Furnace, Coke Oven Batteries, Continuous Casting Machines, Steel Melting Converters, and Forged Rolls), Mining Equipment (Electric Rope Shovels in 5 CuM and 10 CuM capacities, and Draglines up to 24 CuM), Crushing and Mineral Processing Equipment (Primary Gyratory Crushers, Cone Crushers, Four Roll Crushers, Reversible Hammer Crushers, and Rod Mills), Machine Tools (Vertical Turning & Milling Machines, Lathes, Roll Grinding Machines, Deep Hole Boring Machines, Horizontal Boring Machines, Radial Drilling Machines, Planning Machines, Plano Milling Machines, and Special Purpose Railway Machine Tools), EOT Cranes (up to 450T capacity), Castings & Forgings (Steel Castings, Steel Forgings, Grey Iron Castings, Non-Ferrous Castings), and Turn-key Project execution for material handling, coal handling, and steel plant projects. The company also manufactures specialized equipment for Defense, Space Research, and Nuclear sectors.

Differentiator

Problem solved

Functional benefit

Products and services

• Steel Plant Equipment Complete range of steel plant equipment including Blast Furnace (1719-3200 CuM volume), Coke Oven Batteries (4.3M to 7.0M height), Continuous Casting Machines for slabs/blooms/billets, Steel Melting Converters (55T-300T LD converters), Hot Metal Mixers (600T-1300T), and Forged Rolls for hot and cold rolling mills. Supplied to major Indian steel plants including BSP, BSL, VSP, RSP and exported internationally.
• Mining Equipment Heavy mining machinery including Electric Rope Shovels (5 CuM and 10 CuM bucket capacities) and Walking Draglines (24-34 CuM bucket capacity with boom lengths up to 95.6m). HEC has supplied over 550 shovels and 12 draglines to Indian mining organizations including Coal India subsidiaries.
• Crushing and Mineral Processing Equipment Range of crushing equipment including Primary Gyratory Crushers (PGC 1500, 1450 CuM/hr capacity), Cone Crushers (SHC 2200, 75-220 CuM/hr), Four Roll Crushers (900x700), Reversible Hammer Crushers (155x1500, 350-550 T/hr coal), Rod Mills (2700-3600mm drum diameter), Jaw Crushers, Two Roll Crushers, Sinter Crushers, and Apron Feeders.
• Machine Tools Heavy duty CNC and conventional machine tools including Vertical Turning & Milling Machines (BV series, up to 14m job diameter), CNC Centre Lathes (LC series), CNC Roll Turning Lathes (LTR series), Roll Grinding Machines, CNC Deep Hole Boring Machines (BDH series, up to 350mm boring), Horizontal Boring Machines (BH series), Radial Drilling Machines (DR series), Planning Machines (PD series), Plano Milling Machines, and Special Purpose Railway Machine Tools including CNC Under Floor Wheel Lathes and CNC Surface Wheel Lathes.
• EOT Cranes Electric Overhead Traveling Cranes with capacities ranging from 5T to 450T. Products include workshop EOT cranes, Ladle Cranes (up to 450T for hot metal handling), Rotating Trolley Cranes, Tundish Handling Cranes, Magnet Grab Cranes, Slab Handling Tong Cranes, and Four Girder Double Trolley Scrap Charging Cranes. Special features include digital AC vector drives, regenerative AFE converters, planetary gear systems, and emergency braking systems.
• Castings and Forgings Comprehensive casting and forging capabilities at the Foundry Forge Plant including heavy Steel Castings (up to 90T finished weight), Steel Forgings (up to 65T finished weight, rings up to 4.2M diameter), Grey Iron Castings (up to 70T), and Non-Ferrous Castings (up to 4T copper-based, 300Kg aluminum-based). Specialized products include forged rolls for rolling mills, crankshafts for railways, and cyclotron magnet poles.
• Turn-key Projects Complete project execution from concept to commissioning including Material Handling Plants, Coal Handling Plants (up to 3000 TPH capacity), Coal Washeries, and Steel Plant projects. Major completed projects include Coal Handling Plants at Bhilai Steel Plant, Krishnashila (NCL), Gevra (SECL), and ISRO Second Launching Pad. Current projects include Coal Handling Plant at Krishnashila (4 MTPA) and BCCL Madhuband Washery (5 MTPA).
• Special Equipment for Defense, Space and Nuclear Customized manufacturing for strategic sectors including: Defense (Indian Mountain Gun MK-II assembly, T72 Tank turret castings, 105mm gun barrel forging, armor plate forging, propeller shafts for Navy); Space Research (FCVRP platforms, horizontal sliding doors, mobile launch pedestals, 400T/200T EOT cranes for ISRO, maraging steel forged rings); Nuclear (special nuclear-grade forgings, superconducting cyclotron magnets for VECC).

Quantifiable outcome

• Over 550,000 tons of steel sector equipment manufactured and supplied
• +6 more outcomes

Named customers16 records

Segments7 records

Ideal customer profiles5 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature11 records

Partnerships

17 partnerships are on record, tiered minor and core.

• NIFFT (National Institute of Foundry and Forge Technology)minorStrategic or Co-development Partner · 3 June 2016MoU signed for collaboration with premier institute in India for Foundry and Forge Technology. Focus on technology development and skill enhancement.
• Chetra (Russia)minorStrategic or Co-development Partner · 24 March 2015MoU signed for mining equipment collaboration. HEC and Chetra explore joint opportunities in mining equipment sector.
• Republic of TajikistanminorStrategic or Co-development Partner · 9 July 2014MoU signed for potential business collaboration with Republic of Tajikistan in heavy engineering sector.
• Hitachi (Japan)coreTechnology or IntegrationTechnology transfer partnership for updating forgings and forged roll technology. HEC became pioneer in manufacturing forged rolls in India with this technology.
• Ransom & Rapier (UK)coreTechnology or IntegrationTechnology collaboration for walking dragline for open cast mines. HEC became first Indian company to manufacture walking dragline of 24 CuM bucket capacity.
• Bucyrus-Erie (USA)coreTechnology or IntegrationTechnology collaboration for 10 Cu.M. excavators for open cast mines. HEC supplied over 30 units of 10 CuM electric rope shovels to Indian coal sector.
• O&K Orenstein & Koppel AG (Germany)coreTechnology or IntegrationTechnology transfer for hydraulic excavators for coal mines. Part of HEC's mining equipment portfolio.
• GHH Sterkrade (Germany)coreTechnology or IntegrationTechnology collaboration for mine winders and vertical transportation system. Equipment for underground mining operations.
• SMS Schloemann Siemag (Germany)coreTechnology or IntegrationTechnology for continuous casting plants. HEC designs and manufactures continuous casting machines supplied to RSP, BSL, BSP, VSP.
• Lurgi GmbH (Germany)coreTechnology or IntegrationTechnology for sinter plants. HEC supplied 24 sinter plant equipment units to various steel plants.
• Skoda, CKD Blansko, TOS (CSSR)coreTechnology or IntegrationTechnology for general purpose machine tools including radial drills, planing machines, lathes, horizontal and vertical boring machines. Foundation of HMTP's machine tool manufacturing capabilities.
• Herkules (Germany)coreTechnology or IntegrationTechnology for roll grinding machines. Enables HEC to manufacture roll grinding machines for steel plant roll maintenance.
• Hegenscheidt (Germany)coreTechnology or IntegrationTechnology for special purpose railway machine tools for wheel and axle journal turning of all types of railway wheel sets. Supports Indian Railways wheel processing equipment.
• Boehringer (Germany)coreTechnology or IntegrationTechnology for plano milling machines. Enables manufacturing of heavy duty plano milling machines for large structural machining.
• O-M (Japan)coreTechnology or IntegrationTechnology for vertical borers. CNC vertical turning and boring machines with up to 14m job diameter capability.
• Creusot Loire (France)coreTechnology or IntegrationTechnology for diesel locomotive crankshafts through continuous-grain-flow R-R process. HEC manufactures crankshafts for Indian Railways.
• National Forge Company (USA)coreTechnology or IntegrationTechnology for diesel locomotive crankshaft nitriding and finish machining. Complements Creusot Loire technology for complete crankshaft manufacturing capability.

Scale indicators13 records

Recent moves6 records

Expansion highlights5 records

Broad incumbents

• Danieli: Italy-based global supplier of plants and machinery for the metals industry, including continuous casters, rolling mills and integrated steel plants — the dominant international incumbent in the same steel plant equipment market where HEC competes.
• Caterpillar: Global leader in construction and mining equipment (rope shovels, hydraulic shovels, draglines) — a broad incumbent competing directly with HEC's mining equipment business globally and for large Indian mining tenders.
• Metso: Finland-based global leader in mining and aggregates crushing equipment and metal processing — directly comparable to HEC's primary gyratory crushers, cone crushers and mineral processing product line.

Direct peers

• Larsen & Toubro (L&T Heavy Engineering): India's largest private heavy engineering manufacturer producing process plant equipment, reactors, heat exchangers, and steel plant machinery — competes with HEC across steel plant equipment, EPC and heavy fabrication.
• BEML Limited: Indian PSU (Ministry of Defence) manufacturing heavy earthmoving equipment, mining machinery and rail equipment — directly comparable to HEC's mining equipment (rope shovels, draglines) and defense products, with similar government ownership and customer profile.
• Walchandnagar Industries: Indian heavy engineering manufacturer supplying equipment to nuclear, space and process industries including heavy castings and fabrications — comparable niche heavy engineering peer with overlapping nuclear/strategic sector exposure.
• ISGEC Heavy Engineering: Indian heavy engineering company manufacturing sugar and other process plant machinery, boilers, cranes and castings/forgings — a comparable mid-sized Indian peer overlapping with HEC in castings, forgings and process equipment.
• Bharat Heavy Electricals Limited (BHEL): Indian Central PSU under the Ministry of Heavy Industries manufacturing heavy electrical equipment, turbines, boilers and industrial machinery — a direct PSU peer to HEC with overlapping capital-equipment manufacturing, government customer base and similar governance structure.

Others

• Tata Steel (Long Products / Capital Goods Division): Tata Steel is a long-standing HEC customer (forged rolls, EOT cranes) and operates large captive heavy engineering and project execution capabilities of its own — relevant ecosystem counterpart rather than a direct competitor.
• SMS group: Germany-based global provider of metallurgical plant and rolling mill technology — an international incumbent whose continuous casting technology HEC once absorbed under license, and remains a benchmark competitor in Indian steel plant equipment bids.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xx.com/hec_ltd
• LinkedInlinkedin.com/company/heavy-engineering-corporation-limited

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles7 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about HEC