Kondapalli‑based Andhra Pradesh Heavy Machinery and Engineering Limited (APHMEL), near Vijayawada, once on the brink of closure with accumulated losses of ₹21 crore, has scripted a major turnaround under Singareni management and state government support, posting a net profit of ₹34.20 crore in the last three years, including a record ₹23.33 crore in 2025‑26 alone, according to a statement released by Singareni.
Established in 1976 to manufacture machinery and spare parts, the company ran into severe financial trouble due to inadequate orders and overstaffing, and by 1997‑98 it was facing net losses of around ₹21 crore, leading the Board for Industrial and Financial Reconstruction (BIFR) to order its closure in 2002. Singareni Collieries Company Limited stepped in from 1994 by placing orders for mining equipment and later took over management, investing ₹14.08 crore to become the majority shareholder with 81.54 per cent stake and giving APHMEL a new lease of life.
After the Congress government took over in 2023, fresh momentum was infused into the company with a focus on transforming it into a national‑level enterprise. Chief Minister A. Revanth Reddy directed APHMEL to expand beyond the Telugu states, diversify its product range and tap new markets across India. The company, which earlier supplied mainly to Singareni, is now providing machinery and components to major organisations such as BHEL, TGGenco, NMDC and RINL.
APHMEL has moved from a net profit of ₹1.05 crore in 2023‑24 to ₹9.87 crore in 2024‑25 and ₹23.33 crore in 2025‑26, taking total profits since coming under Singareni to ₹60.85 crore. To cut costs, a 300‑kW solar power plant is being set up on the premises, expected to save about ₹2 lakh per month on electricity bills and recover its ₹1.24 crore cost in around five years.
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