TECHNOCRAFT IND Share price

Technocraft was established in 1972 by two brothers Mr. S.K. Saraf and Mr. S.M. Saraf. The brothers who are IIT Graduates & Technologists had started with the aim of manufacturing high precision and sophisticated Drum Closures Products. Until 1976 Technocraft focused on the domestic market. India was not recognized as reliable export nation during thosedays 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?scompetitors 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 largest and most recognized suppliers of Drum Closures in the world. 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 into 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 Thespinning 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 tocater 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.Major events in the history of the CompanyYear Events/Milestones/ Achievements1993 Set up of its first Foreign subsidiary in United Kingdom1994 Merger of Technocraft Fabricators (Bombay) Limited and Eskiedee Metal Crafts Private Limited1994 Acquisition of Maharashtra Steel Tubes Limited ? Pipe Division1997 Setting up of 100% EOU Yarn Unit1998 Setup Subsidiary in Poland2000 Setup Subsidiary in Hungary2000 Awarded the National Award for Export Excellence by Ministry of Commerce and Industry Award Presented by then Prime Minister of India2001 Awarded Export Excellence Award for all steel products by Engineering Export Promotion Council ? Maharashtra2003 Setting up of Subsidiary Company Danube Fashions Limited2004 Awarded 3 Star Export House Certificate Achieved the Export Targets set by Government of India in the yarn Division under the target Plus Scheme 2005 Setup a Subsidiary in Germany Launched Haute Chilli Brand in India Achieved the export targets set by Government of India in the yarn Division 2nd year straight2006 Setup a Subsidiary in Australia