TECHNOCRAFT IND LTD

Technocraft Industries (India) Limited was incorporated on October 28, 1992 by two brothers Mr. S.K. Saraf and Mr. S.M. Saraf. Company is a multi-product manufacturing company, which manufactures high precision and sophisticated products, mainly for discerning worldwide markets. The Company enjoys a significant position in five main business industries viz., Drum Closures, Scaffolding systems & accessories, Engineering and Designing Services, Cotton Yarn, Fabric and Garments. The product line of the Company expands beyond Drum Closures into Scaffolding and 100% Cotton Yarn, Fabric and Garments. The Cotton Yarn division uses the most modern equipment to manufacture its product assuring world-class quality to its customer. Apart from these, Company has diversified operations and manufacturing including, vertically Integrated Textile division of manufacturing of Yarn, Fabric, Garments, it has facility of producing cotton yarn, mélange yarn, also having facility of knitting, dyeing and printing and garmenting. The Drum Closures, Scaffolding, Yarn & Garment divisions are located at Murbad, District Kalyan, Maharashtra and one Yarn Manufacturing Unit is located at Amravati, Maharashtra. The Company is also having manufacturing facility of drum closures and scaffolding at China. Until 1976 Technocraft focused on the domestic market. India was not recognized as reliable export nation those days, against all the odds, the company launched a major export drive in 1977. 'Technocraft' was recognised as an export house by government of India in 1979. 'Technocraft' initially captured the Middle East export market. Gradually Technocraft moved to USA and Europe. Since customers in USA and Europe were used to buy Drum Closures from the Company's competitors based in Europe and USA, on a very short notice, Technocraft established several foreign subsidiary companies for facilitation of the stock flow to their customers in Europe and USA. At the initial stages the group's strengths were in manufacturing of Drum closures. From inception till 1994,Technocraft continued developing and increasing the production of Drum Closures until it became one of the world largest and most recognized suppliers of Drum Closures. The company subsequently in 1994 acquired a sick unit 'Maharashtra Steel Tubes Ltd' from SICOM, which was into the manufacture of Steel Pipes. The initial production in the early years post acquisition was 500 metric ton per month and in those days Europe was a major importer of steel pipe. Technocraft opened an office in United Kingdom (UK) so as to tap the European market. This was the turning point in its expansion program. In 1997, Technocraft diversified into manufacturing of Cotton Yarn. The Unit was accorded a 100% EOU status. The cotton yarn division is into Manufacturing & Exporting of high quality 100% Cotton Ring Spun Yarn. From NE 20 to NE 40, the spinning mill is equipped with world class Swiss, Japanese and other equipment. The cotton yarn division employs highly trained technical experts in all aspects of yarn spinning. It also has a Captive power generation plant in the yarn division to cater to its power requirements. Technocraft as a group has been a predominant player in the precision engineering sector & it has done a forward integration of Tube Division by producing high precision scaffolding systems for building construction. The cotton yarn division has also forward integrated its operations by production & export of Garments through its subsidiary Technocraft has been constantly upgrading its capacity & improving its standards to meet the ever-increasing expectations of its customers. The strategy adopted by the company comprises of growth through constant innovation, enter new categories, and focus both on domestic as well as foreign markets. Currently, the company has having ten subsidiaries out of that three are Indian companies and balance are foreign companies. Viz. Technosoft Information technologies (I) Limited, Techno Exports Private Limited, Danube Fashions Limited, Technocraft Trading Spolka, Z.O.O Poland, Technocraft (Hungary) KFT, Technocraft International Ltd, Bopp A. G., CAE Systems GmbH, Impact Engineering Solutions Inc., and Technocraft Australia Pty. Ltd. January 2007, the company has entered into capital market. The company has issued 83,20,000 Equity shares to the public. Issue price is Rs.105/- per share. During the year 2007-08, the I.T.Division of BMS Industries Limited, a promoter Group Company was demerged into Technosoft Information Technologies (India) Limited, Subsidiary Company of the Technocraft Industries (India) Limited (Holding Company), through the Scheme of Demerger made effective from 1st April, 2007, the Appointe