|Acrow India Limited manufactures material-handling systems, sugar factory equipment, industrial storage solutions and electronic bulk-weighing systems.
Operating since 1960, Acrow is a sister concern of The Ravalgaon Sugar Farm Limited, a preeminent name in IndiaÂs sugar and confectionery industries. Even today, AcrowÂs product portfolio includes Ravalgaon branded machinery for the sugar industry. Both Acrow and Ravalgaon are former members of The Walchand Group of Industries, a congolomerate that spanned India's construction, automobile and machinery manufacturing industries.
1960 - The company was incorporated on 10th March at Mumbai as a joint
venture between Hindustan construction Co. Ltd. of the Walchand
Group & Acrow (Engineers) Ltd., U.K. for the manufacturing of the
world famous modern system of Acrow Steel formwork scaffolding &
allied equipment for the construction industry Acrow (Engineers)
Ltd U.K. provided the company with technical knowhow and plant
and Machinery as a part of their capital. The company
established a factory at Vikhroli in Mumbai.
- The company also has a well equiped design office and specialises
in the manufacture of special purpose framwork system such as
tunnel forms, skip forms, suspended forms etc. The main
objective of the company is to manufacture steel formwork,
scaffolding and allied equipment for the construction industry.
1979 - Till date, 426 shares issued pursuant to a contract without
payment in cash and 427 shares issued as bonus shares.
1980 - 1,600 bonus shares issued in prop. 1:1.
1983 - 3,200 bonus shares issued in prop. 1:1.
1985 - The profitability, however, was adversely affected due to
recesionary trend in the construction activity coupled with
financail constraints in general.
1986 - On account of severe competition from unorganised and small scale
sector coupled with high production cost price differential on
account of excise and sales tax concessions available to small
scale sector the company found it difficult to sell its products.
The Vikhroli factory hence was closed down during 1988.
- Acrow Plc., U.K., the overseas collaborators of the company who
held in the company 2,56,000 No. of equity shares out of 6,40,000
No. of equity shares of Rs. 10 each issued by the Company
representing 40% of the total equity capital of the company,
offered their total holding for sale to the Indian public at a
premium of Rs. 21 per share during July.
- Out of this 12,800 shares to employees (including Indian working
directors) workers of the company and 5,110 shares to business
associates of the company were reserved for preferential
allotment. Unsubscribed portion of 3,410 shares out of this
preferential quota was added back to the public quota.
1988 - Competition from the small scale sector units and poor
availability of raw material particularly thinner gauge of HR
sheets continued to affect the Company's performance.
1989 - The company acquired a plot of land at Trans Thane Creek, MIDC,
Thane and the manufacturing activity was to commence after
competition of civil work there.
1995 - On 8th June, the company was entered into a Technical
collaboration agreement of seven year duration with M/s. Bud-Pak
Pty. Ltd. Australia for manufacture import, sale and export of
automatic bag packaging/bagging, weighing and pallesting
machinery and associated equipment.
-The company has recommended dividend @10%
-The company has recommended dividend @ 50%