The pensioner was walking along Bidwell Lane, Clipsham on Sunday afternoon when the callous plant thieves mowed her down in the stolen vehicle.
The yellow Mattbro Telehandler was taken from Clipsham Stone Cutting Company based at Clipsham Quarry. The vehicle was last seen turning left on to Stretton Road towards the A1.
The injured woman was taken to University Hospitals Coventry and Warwickshire where she remains in the intensive care unit in a critical condition.
Detective Chief Inspector Neil Castle is leading the investigation, he said: “The victim has sustained serious injuries during the incident and was left lying in Bidwell Lane.
“The vehicle she was in collision with failed to stop at the scene and we need to identify and trace the vehicle and occupants of that vehicle.
“We would also appeal to landowners to have a look around their properties and fields as the stolen vehicle may have been hidden in a remote area.
“Any information no matter how insignificant it may seem could help us with our enquiries.”
Anyone with any information is asked to contact Leicestershire Constabulary on Leicester (0116) 222 2222, quoting incident number 519:21:11:10.