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Technocraft Industries (India) Ltd. Company History and Annual Growth Details

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 those
days, against all the odds, the company launched a major export drive
in 1977. ÂTechnocraftÂ was recognised as an export house by government
of India in 1979. ÂTechnocraftÂ 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 CompanyÂs
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 groupÂs 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 ÂMaharashtra Steel Tubes LtdÂ 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, 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.

Major events in the history of the Company

Year Events/Milestones/ Achievements

1993 Set up of its first Foreign subsidiary in United Kingdom
1994 Merger of Technocraft Fabricators (Bombay) Limited and Eskiedee Metal
Crafts Private Limited
1994 Acquisition of Maharashtra Steel Tubes Limited Â Pipe Division
1997 Setting up of 100% EOU Yarn Unit
1998 Setup Subsidiary in Poland
2000 Setup Subsidiary in Hungary
2000 Awarded the National Award for Export Excellence by Ministry of Commerce
and Industry, Award Presented by then Prime Minister of India
2001 Awarded Export Excellence Award for all steel products by Engineering
Export Promotion Council Â Maharashtra
2003 Setting up of Subsidiary Company Danube Fashions Limited
2004 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 straight
2006 Setup a Subsidiary in Australia

2007 Technocraft Industries India Ltd has informed that Mr. N M Mhatre, has been appointed Additional Director of the Company and consequently he become the Whole Time Director of the Company with effect from November 01, 2007 at the meeting of Board of Director held on October 31, 2007.

2009

- Technocraft Industries India Ltd has appointed Mr. Anand Didwania as a Non-executive independent Director of the Company.

- Technocraft Industries India Ltd has informed that Mr. Pankaj Ranjit Toprani has been appointed as a Non-executive independent Director of the Company.

2010

-Technocraft Industries India Ltd recommended the payment of dividend of Rs. 1.5/- (15%) on equity shares of Rs. 10/- each for the financial year ended March 31, 2010.

2011

- Technocraft Industries India Ltd has Changed his Registrar & Transfer Agent from M/s Datamatics Financial Services limited to M/s System Support Services.

- Technocraft Industries (India) Ltd recommended the payment of dividend of Rs. 1/- (10%) on equity shares of Rs. 10/- each for the financial year ended March 31, 2011.

2012

-Technocraft Industries (India) Ltd recommended the payment of dividend of Rs. 1/- (10%) on equity shares of Rs. 10/- each for the financial year ended March 31, 2012,

2013

-Mr. Jagdeesh Mal Mehta has been appointed as a Non-executive Independent Director of the Company.

-Technocraft Industries (India) Ltd. has acquired Canada-based Swift Engineering Inc. for the year 2013.

2014

-Technocraft Launched Public library for children below 14years of age at Murabad in 2014.

2018
-Technocraft Industries (India) Ltd Signd MOU with Government of Maharashtra for putting up a mega tetile project
-Technocraft Industries (India) Ltd Industrial visit of group of students from the university of edinburgh
-Grand opening of technocraft's new yard in houston USA
-Technocraft India ltd is opening of its distribution operations in new zealand

2019
-Technocraft Industries (India) Ltd was awarded Best new launch technology in formwork award

2020
-Tecnocraft has designd a quarantine center for COVID 19 as per the Govt

2021
-Technocraft mad on Distribution Agreement with Offshor services pvt. Ltd

2023
-Technocraft Industries (India) Limited BOD has approved the Acquisition of 100% Equity Shares of BMS Industries Private Limited.

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