Heavy Engineering Corporation Limited (HEC)
Heavy Engineering Corporation Limited is a Ranchi-headquartered central public sector engineering company set up in 1958, owned by the Government of India under the Ministry of Heavy Industries, supplying capital equipment for steel, mining, railways, power, defence, space, nuclear and strategic sectors. On official evidence (Ministry of Heavy Industries page), HEC's net worth was completely eroded in 1992 and it was referred to BIFR; BIFR ordered winding up in July 2004 (appealed in Jharkhand High Court); despite Cabinet-approved revival packages through 2017 its financial position remains 'very poor', with FY2022-23 net worth of Rs -1,080.66 crore — it therefore qualifies as a sick PSU under the register's definition. Its own site continues to publish annual reports through 2024-2025 and 2026-dated recruitment notices.
This page is a factual profile built from official sources: enterprise filings, the DPE Public Enterprises Survey, PIB releases, government orders and CAG reports. Figures carry their year; where no official figure was found, the field is left out rather than estimated.
How we verify →Heavy Engineering Corporation Limited is a Ranchi-headquartered central public sector engineering company set up in 1958, owned by the Government of India under the Ministry of Heavy Industries, supplying capital equipment for steel, mining, railways, power, defence, space, nuclear and strategic sectors. On official evidence (Ministry of Heavy Industries page), HEC's net worth was completely eroded in 1992 and it was referred to BIFR; BIFR ordered winding up in July 2004 (appealed in Jharkhand High Court); despite Cabinet-approved revival packages through 2017 its financial position remains 'very poor', with FY2022-23 net worth of Rs -1,080.66 crore — it therefore qualifies as a sick PSU under the register's definition. Its own site continues to publish annual reports through 2024-2025 and 2026-dated recruitment notices.
What happened
The official overview states: 'Set-up in the year 1958, HEC has acquired expertise in its field through its more than half a century's experience', and 'HEC is headquartered at Ranchi, the capital city of Jharkhand' (HEC official site, company_site). Its profile adds it is 'one of the leading suppliers of capital equipment in India for steel, mining, railways, power, defense, space research, nuclear and strategic sectors' (HEC official homepage).
Ownership and control: the company is 'owned by the Government of India, with administrative control under the Ministry of Heavy Industries' (secondary summary); corroborated on the official board page by the labels 'JS/MHI' and 'CCA/MHI, Government Nominee Director' (HEC official site).
Recent official publications: the performance page lists downloadable 'Annual Report for 2024-2025' (English and Hindi) alongside reports back to 2005-2006 (HEC official site), and the homepage link-list carries 2026-dated recruitment notices (e.g. filings dated 20260525, 20260609, 20260618, 20260805). The latest dated news item visible is 'Feb 14, 2022' on the Governor of Jharkhand's visit; the 2024-25 report PDF is image-scanned so figures could not be extracted, and CAG/DPE/PIB domains refused automated fetch (connection refused or 403).
What we could not confirm
Sick status is CONFIRMED on official evidence: the Ministry of Heavy Industries page (heavyindustries.gov.in) records complete erosion of net worth in 1992 with BIFR referral, a BIFR winding-up order in July 2004 (appealed), Cabinet-approved revival packages in Dec 2005 and 2008/2013/2014/2017, and FY2022-23 figures of turnover Rs 91.43 crore, net loss Rs 230.85 crore, accumulated loss Rs 1,759.38 crore, net worth Rs -1,080.66 crore, and 1.39% capacity utilisation, describing the company's financial position as 'very poor'. Strategic disinvestment was attempted per Core Group of Secretaries on Disinvestment recommendations, but no current sale listing is confirmed, so on_the_block remains false. Shareholding percentages, current employee counts and 2023-24/2024-25 annual-report figures remain unconfirmed (those PDFs are image-scanned; DPE/CAG/PIB refuse automated fetch).