The company manufactures construction equipment that is used in major infrastructure projects in India. It has remained a market leader for the past five years, despite stiff competition. It has revolutionised the Indian construction equipment industry, with the introduction of the V-series of hydraulic excavators
The foundation stone of the works in Jamshedpur was laid in November, 1989.
The company had its maiden public issue in 1991. The issue received an overwhelming response from the investors as it was oversubscribed by 4017 times.
Commercial production began in March, 1992.
Initially the registered office was in Calcutta. Subsequently, on December 2, 1996, it was shifted to Jamshedpur.
After difficulties faced in its early years, the company witnessed a turn-around in 1996 and has been earning profits since then.