News

Mr. Almgard Christer from Müller AG Verpackungen, Switzerland visited our Corporate Office
Location : Mumbai
16 MAR 2017
Our valued customer Mr. Almgard Christer from Müller AG Verpackungen, Switzerland visited us in Mumbai office for business discussion on 16.03.2017. He is seen in photo at extreme left with our president Mr. Subhash Khandelwal, General Manager Mr. Shetal Mehta and extreme right Mr. Manan Saraiya of Unifab, Gujarat.

MNTC Staff Win Bronze Medal in Taekwondo
Location : Mumbai
22 JAN 2017
Mr. Neeraj Kumar – Training officer MNTC has won Bronze Medal in Martial Arts Competition held in Mumbai on 22nd January 2017. The competition was conducted by TAEKWONDO – EDUCATION UNIVERSITY OF INDIA, Mumbai.

MACH range of Scaffolding and Formworks Solutions featured on The Masterbuilder
Location : India
01 JAN 2017
Designed to be Assembled and Dismantled with Ease and Total Safety

Technocraft as a group has been a predominant player in the precision engineering sector and it has done a forward integration of Tube Division by producing high precision scaffolding system for building construction. The company has been constantly upgrading its capacity and improving its standards to meet the expectations of the customers. The company expects a high-value growth in the Indian market

The company recently announced the launch of MACH range of scaffolding and formworks solutions manufactured in India, especially for the Indian market. The MACH brand comes as a boon to all the developers, builders and contractors, who now would have access to world class technology.

Announcing this on the sidelines of Bauma Conexpo, one of the largest construction industry events in India, Shri Navneet Saraf, Director, Technocraft Industries (India) Ltd. said, "Our Scaffolding and Formworks solutions have earned enviable reputation in some of the most demanding markets worldwide. We are now launching the MACH range of Scaffolding and Formworks solutions incorporating the same high standards of quality for the Indian market. The brand name MACH would be synonymous with quality and dependability in Scaffolding and Formworks solutions."

The Masterbuilder had one-one chat with Mr. Mudit Raniwala, Senior V.P. Technocrat Industries [India] Ltd. He shared insights on the product segregates, and about his expectation from the Indian market

Here are few excerpts from the interview

Kindly highlight on the market share in the global market as well as in India?

Basically, Technocraft is basically a 40-year-old company, we have been to various businesses and scaffolding and formwork are one of the prime businesses that we are involved in. As a group we are doing 1200 crores turnover per annum and this particular division is doing around 400 crores of which Indian business has been a very small portion roughly around 40 crores which comes from India, rest is all export. We have been exporting worldwide in areas such as the U.S., Europe, and Australia and to some extent Middle-East also.

What is the market expectation from the India?

We are seeing that the Indian market has started growing now and with these products, we are launching are the apt design for the Indian market. These products meet the requirements in the technical as well as in the commercial front. They are reasonably priced and made in India. The system incorporated in these products is European technology as we have been servicing European technological products for the past 20 years. So we know what kind of quality is required and technological insights, therefore we are bringing the same technology to the Indian market for the masses at a price level which is acceptable over here. So, we are very confident in these products, from the current 40 crores we are targeting a revenue growth of 200 crores for the next five-fold growth. This is for the domestic and that much potential is there.

What is the positioning targeted for these products?

The market is quite large in India but the problem is it is segmented into the organized and unorganized sector. With these types of products, we are actually coming somewhere in between. We are giving the products which compete with the organized sector with the European technology but the price level is a bit premium than the unorganized sector. So, the end-user is going to get the benefit of both the worlds. They will get a great technology at a good price. Keeping that in mind we believe that our targets could be easily met the five-fold growth that we are targeting. We have already started seeing the signs of these, just a few days back we were able to close a large deal order, this order is perhaps one of the biggest order in the history of the Indian Formwork for slab taking system, an order for 30,000 square meters and it is for a commercial building.

What is the USP of the technology adopted that sets you apart from the other market players?

This particular system requires a lot less labour. Today what we hear from the other contractors is that the labour issue is a problem these days. With these products they can cut down their labour cost to 25 percent of what they are doing currently. If for a project they require 50 labours with these products they can cut down that 10. These products enable the minimization of time. The erection of slab time is heavily saved by these products. It's gonna save time, labour and it is economically stable. Additionally, the durability of the system is more. When the conventional system is provided by the unorganized sector, the durability is not much. Currently what customer looks out is, how much he has to invest initially but they are not realizing that this does not last longer that is, 10 to 15 repetitions. What we are here providing is 50 to 60 repetitions in that investment. So, that Rate Of Interest is much higher for them in this regard compared to what they are getting currently, this is the commercial benefit. Another important factor is the 'safety', which is a huge problem in the Indian industry. Recently there have been several reports of building falling down and lots if lives are getting lost in this kind of casualties. This type of incidents is a result of kind of materials being used which are generally substandard with no safety norms. With our system, this issue can be addressed quite gracefully

There are very small-small features that we have put in our system that takes care of laborers’ safety. For example, one small feature is like that in which, before the worker goes on the top of the formwork system, he is bar derailed protected. Everything in our system is done from the ground below, so even the railing for the top is installed at the ground and then it is pushed up. So that kind of a safety is taken care of in this system. So, what we are looking at is ease of doing work with less labour. We are also looking for savings for a longer shelf life. 'Safe, fast and easy', which is the tagline of our products, is all maintained in all the products.

Technocraft Industries launches new range of Scaffolding and formwork solutions
Location : India
22 DEC 2016

Technocraft Industries India (Technocraft) has launched a new range of Scaffolding and Formworks solutions named ‘Mach’. Mach is among the first of its kind engineered scaffolding and formwork system that is Made in India and for Indians. Through the Mach system, Technocraft brings to India its decades of experience in providing world class scaffolding and formwork products to countries like USA, UK, Australia, Canada, Middle East etc with a product that is truly world class in safety, quality and speed and affordable for use in the Indian conditions. Mach system of Technocraft will be a big boost in India's initiatives in improving the speed, quality and safety of construction.

The Mach range of Scaffolding and Formworks solutions fulfill every need in construction and infrastructure building. They are manufactured with superlative precision and finish and tested and proven to be truly international in quality and function. Best of all, they are designed to be assembled and dismantle with speed, ease and total safety.

Technocraft has been constantly upgrading its capacity and 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.

    

Shri. S.K. Saraf Meeting with Prime Minister Shri. Narendra Modi and Yoga Guru Shri. Ramdev Baba
19 DEC 2016

AOSD Delegates from Japan and from other countries visited our plant.
Location : Murbad
01 DEC 2016
Japanese Delegates

Delegates from Other Countries

Visit our Booth at Bauma 2016 at Hall No. 1, Booth No. F32, Huda Ground
Location : Gurgaon, Delhi
30 NOV 2016
It would be a privilege to have you attend this event.

THE 9TH AOSD INTERNATIONAL CONFERENCE, MUMBAI, INDIA - 29th and 30th November-16
Location : Mumbai
30 NOV 2016
AOSD Delegates from Stanta Mauser (M) Sdn Bhd who is our important customer from Malaysia with our Chairman Mr. S.K. Saraf, Co-Chairman : Mr. S.M. Saraf, President Mr. Subhash Khandelwal and General Manager Export Mr. Shetal Mehta.

AOSD Delegate from For Balmer Lawrie (UAE) LLC who is our important customer from U.A.E. with our Chairman Mr. S.K. Saraf, and President Mr. Subhash Khandelwal.

Visit of Senior delegates from PASCHAL (Bahrain)
Location : Mumbai
29 NOV 2016
Senior delegation from PASCHAL (Bahrain) visiting Technocraft in Mumbai. PASCHAL is one of Technocraft’s leading customers of Scaffolding and Formwork.

Mr. Sharad Saraf, Chairman Meeting with Mr. Nitin Gadkari
Location : Nagpur
20 NOV 2016
Mr. Sharad Saraf, Chairman – Meeting with Mr. Nitin Gadkari to discuss infrastructure requirement of India in Nagpur on 20th November, 2016

Mr. Marshal Lazar Wilson Winner in the Finals of the India Skills
Location : Delhi
17 JUL 2016
We are happy to inform you that Mr. MARSHAL LAZAR WILSON who was a student of MNTC (NTTF- Murbad) and trained at NTTF in the Skill- MECHANICAL Design CAD has been declared as WINNER in the Finals of the INDIA SKILLS conducted by NSDC, at Pragati Maidan, DELHI from 15th to 17th July 2016 and hence qualify for the WORLD SKILLS Abu Dhabi 2017.

He also wins First Prize money of Rs.1,00,000/- with a trophy and a Winner certificate. The award was presented by Hon. Minister for Skill Development and Entrepreneurship Mr. Rajiv Pratap Rudy.


EIPA Meeting In June 2016 in Barcelona, Spain
Location : Barcelona
30 JUN 2016
Our Chairman Mr. Sharad Kumar Saraf and our President Mr. Subhash Khandelwal participated on behalf of the company.

In photo Mr. Robbie Evans of Con-tech International and Mr. Ahmet Ersoz from Izavar, Turkey are seen at our stall with our president Mr. Subhash Khandlwal.

Technocraft's new scaffold e-commerce initiative through launch of ScaffoldsSupply.com
06 JUN 2016
We’re pleased to announce the launch of our brand new eCommerce website! ScaffoldsSupply.com

We’ve made it easier than ever for customers to browse product catalogue, find out which product is right for them and then purchase online – quickly and securely.

ScaffoldsSupply.com is an online supplier of various type of high quality scaffoldng and accessories. We sell Cuplock, Ringlock, Shoring, and related scaffold components to refineries, shipyards, construction companies, scaffold rental outfits, scaffolding suppliers, and all end users that utilize scaffolding equipment. We pride ourselves on quality, consistency, available stock and customer service. ScaffoldsSupply.com is owned by the Technocraft Group, which is global supplier of scaffolding and related accessories to some of the largest and most well known multi-craft construction companies that exist today. We understand that having a diverse scaffold inventory with high stock levels are necessary in this industry, so we have fully stocked a yard in Houston, Texas with the most popular scaffold components including Ringlock, Cuplock, and Shoring related equipment. Our scaffold yard in Houston is conveniently located on the east side and is accessible from all of the major highways intersecting in and out of the city.

We are pleased to invite you to visit our Booth at Bauma 2016
Location : Munich, Germany
01 APR 2016

It would be a privilege to have you attend this event. We really value our partnership with Brand and look forward to continued growth in our partnership. We request you to kindly confirm your presence at this event by clicking on the below link and taking a few minutes to fill out the form and confirm your attendance.
http://goo.gl/forms/8M4jBZkza9
State Education Minister's Visit to SSN Campus
Location : SSN Technical Education Center, Murbad
14 FEB 2016




Mr. Subhash Khandelwal visited our long-time Customer and Partner Stanta Mauser.
Location : Malaysia
06 NOV 2015

Our President Mr. Subhash Khandelwal visited our long-time customer and Partner Stanta Mauser in KL, Malaysia on 6th November 2015.He was honoured by them to plant a tree in their premises. In the pictures are all seen from left to right their General Manager (Procurement) Ms St Yang, Managing Director of Stanta Mauser-Malaysia Dato Sri Dr.Tan Cheng Chai, Mr. Subhash Khandelwal and their Project Manager Mr.Jonnny Tan.



Team Technocraft in Munich, Germany Marathon
Location : Munich, Germany
12 OCT 2015
Personality Development Programme at Shanti Seva Nidhi (SSN)
Location : Murbad
02 OCT 2015

3 hours Personality Development Programme was conducted at SSN Hall by Now Foundation and Tata Motors Limited for under privileged students of 8th, 9th and 10th.

Students form our Free coaching classes, various Murbad School students and Tribal residential school students attended the programme, a total of 146 students took the benefit of this special programme designed and conducted by Mr. Anil Choudhari and Ms. Sneha.



Meritorious Export Performance Award
29 SEP 2015

Technocraft has been awarded meritorious export performance award from Union minister of India Shree Suresh Prabhu on 29th September’15.

Shetal Mehta received this award on behalf of Technocraft.

Technocraft is proud to add AAIT as another feather on its cap.
24 AUG 2015
Technocraft has recently acquired AA International Trading, LLC (AAIT), a scaffold distribution company based in The USA. With this acquisition Technocraft now has a direct distribution yard in Miami, Florida and Angola, Indiana. Technocraft also plans to soon open a yard in Houston, Texas.

We Participated in 15th international conference on Industrial Packaging
Location : Vancouver, BC, Canada
15 JUN 2015

We Participated in 15th international conference on industrial packaging, in June 15 at VANCOUVER, BC, CANADA, where in our chairman Mr.S.K.Saraf made presentation on various innovation done by Technocraft like GRT FLANGES, HY-BRID PLUGS & S-INSERTION. We displayed our products for the benefit of all the international delegates.







Technocraft has tied up with Tata Motors to offer Free Coaching Classes
Location : SSN Technical Education Center, Murbad
13 JUN 2015

We believe in making difference to the lives of the rural kids. Besides Technical Vocational Training, we are trying to expose the youngsters to new possibilities & better career paths. These youngsters later can become catalysts for their communities.

Now, Technocraft has tied up with Tata Motors to offer free coaching classes for 8TH , 9TH & 10TH standard students at our SSN TECHNICAL EDUCATION CENTER, MURBAD.

  • Tuitions (State Syllabus Marathi Medium and Semi-English Medium)
    • English
    • Science
    • Mathematics
  • Audio – Visual Sessions on each subjects
  • Computer Training
    • Word
    • Excel
    • PowerPoint
    • Email
  • Hobby Classes
  • Games for Team Building
  • Vedic Mathematics
  • Video Shows
  • Mock Tests
  • Live Talks
  • Entertainment
Mr. Navneet Saraf's Interview on Share Bazaar Journal
Location : India
20 FEB 2015
GOOD PROSPECTS AHEAD

Below is the transcript of Mr. Navneet Saraf's interview on Share Bazaar Journal

What are the highlights for the quarter ended December’2014?

We have performed quite well for the quarter ended December’2014. Company has made net profit before tax of about Rs.34.50 crores for this quarter which is much better than the previous quarter ended September’2014 where we made a profit of Rs.25 crores and also much better than the last quarter of the previous year. All the three divisions of the company have done well – Drum Closures, Scaffolding and Yarn. Yarn division has also made net profit in this quarter. It was having losses in previous two quarters because of poor commodity prices and some strike in the factory. This quarter Yarn division has done well and posted profitable results. Overall, I can say that this has been a good quarter where all the divisions have performed well. Scaffolding division has exceptionally done well in this quarter posting a profit of about Rs.14 crores. Drum Closures division has posted a profit of close to Rs.18 crores and Yarn division has also posted some profit so overall this has been a good quarter.

How would you like to comment on 9 months working?

In the first nine months of this year the company has made a profit of Rs.88 crores on sales of about Rs.572 crores and it is slightly lower than the last year in terms of profit. But strictly speaking we cannot compare this year with the last year because last year there was some ‘other income’ and also some exceptional gains in ‘foreign currency’ which is not there in current year. So overall in terms of pure business activities the company has done better in this year than the last year. The Engineering division, Drum Closures division and Scaffolding divisions have done exceptionally well. Unfortunately the Yarn division has not performed very well this year in view of low commodity prices for the first two quarters and some labour problems in the second quarter but we are seeing gradually things turning around there as well.

What is your focus now?

Focus area is to continue to be growing in all the four verticals – Drum Closures, Scaffolding, Textiles and Engineering services. Each of our businesses is positioned well and showing growth. This is mainly on the back of exports business. We continue to see a strong demand for our products in USA and Canada which are our key markets. We also see strong demand from Australia and South America. There may be some short term concern on account of crude oil prices which have substantially fallen in the last two to three months. We expect these prices to stabilize. Our focus area is to continue to expand our business in existing market and continue to open new market for our products. We are looking at some synergistic acquisitions. We are looking at some acquisitions in engineering space synergic with our engineering company Technosoft. These companies are EPC companies for our Oil and Gas portfolio. We are also eyeing some acquisitions in the packaging sector to vertically integrate our Drum closures division and diversify our product base.

How is the current working and status on exports front?

We are doing very well on the exports front. Majority of our exports are to USA and USA economy is one of the strongest and fastest growing economies in the world in spite of volatility in crude oil prices that we have seen is having some effect on the oil producing companies that we have been dealing with. There has been some slow down in production and downstream activity has been positively impacted on account of drop in crude oil prices. USA’s manufacturing sector is very buoyant and commercial construction is coming back there. All this leads to the increase in demand for our Scaffolding division particularly which we can see from the results also as Scaffolding division has posted good results. There is substantial growth in sales and profits compared to last year. This division is clearly growing the fastest. The Drum Closures division is growing at the same rate and clearly maintaining the margins and Textiles division is actually coming out of the poor commodity cycle. So overall the exports are good and I am satisfied with the performance.

What are your expansion plans?

We are eyeing some synergistic acquisitions. We see acquisitions as a good way of scaling up our business. We are currently eyeing some acquisition in our Engineering Services Company and wholly owned subsidiary Technosoft. We had acquired an Engineering company two years back which has done very well this year. As crude oil prices have dropped this year so there is good opportunity as the costs have come down so this is a good time to make acquisitions. We are also eyeing some acquisitions in the packaging space as synergy for our Drum Closures division. On the textiles side we have made some plan for modernization of the plant for Garments. We are also expanding our process house to diversify our product portfolio.

What is your message for the shareholders?

My message to the shareholders is this that all the divisions of the company are in good shape, showing good growth. We see good demand for our products and we see good prospects for the company. We are committed to profitable growth of the company and we see acquisitions also as a way of scaling the business and I think that overall the company is on a very strong footing and we expect this to continue.

How do you foresee your company three years from now?

We would like to continue to maintain and enhance our position of leadership in our key business areas. We are the second largest Drum Closures producers and we would be definitely maintaining that position and at the same time maintaining our profitability and margins. In Scaffolding business we see very strong volume growth. We are among the top five producers in the Scaffolding sector and we expect to further consolidate. We see this business expanding and becoming more of a solution business going forward in the next three years. From a manufacturing and product based company we are going to expand our portfolio to be a complete Scaffolding solutions company. We also see engineering solutions business growing substantially on the back of further acquisition in the EPC space. Overall, our target is to achieve a turnover of Rs.2,000 crores within the next three years

Vibrant Gujarat 2015
Location : Gujarat
11 JAN 2015





Technocraft sponsored Library for children at Murbad
Location : Murbad
26 DEC 2014
As you all must be aware, we have launched a public library on 7th June 2014 in association with Nachiket Bal Wachanalay Amrawati exclusively for children below 14 years of age. We have Provided books, magazines of various categories to take care of their different reading tastes. Regular children can take home the books for reading purpose with the consent of their Parents/guardians.

Lot of other activities such as outdoor games, indoor games, memory building class, patriotic songs, Sanskrit hymns, hand writing competitions, motivational trainings, basic computer coaching, Chandani Bhojan, excursions, spoken English classes are arranged at a very regular intervals.

Hence, we request you to spread this message so that the benefit of this can reach to each and every child who is not aware of this.
Message to Shareholders
Location : India
20 NOV 2014
Dear Shareholders,
 
Greetings from your management!
 
This is to update you on the performance of your company for first half of 2015. 
 
First half revenue from operations, @Rs. 360 crs, rose 9% as compared to the same period in 2014. Strong revenue momentum was witnessed in Drum Closures as well as in Scaffolding sales in the first half of 2015. Sales of Drum Closure increased by 12% over the corresponding half of last year. This segment has witnessed a steady growth over the last few quarters and your company manages to hold their market leadership status thru’ constant innovation and a tight control on costs. Going forward, the management is very optimistic about the improved performance in the scaffolding division. With sales in this quarter growing by ~35% YoY, this marks the fifth quarter in a row where this segment has demonstrated a high double‐digit growth while maintaining the margins. The order book in this segment continues to be encouraging, underlining the fact that your company’s products are well accepted in the markets.
 
The outlook on the Engineering Services division also continues to be optimistic. Via its wholly owned subsidiary company ‘Technosoft’ and its subsidiary, this division continues to perform well. Your management expects the strong performance to continue going ahead as well.
 
The management is pleased to share with you that the plant set up in China, to manufacture Drum Closures as well as Scaffoldings, continues to do well. Enthused by the performance in this geography so far and based on increased demand from Drum makers, your company has planned to expand its Drum Closure manufacturing capacity there.
 
The PBT in the first half of 2015 stood at Rs 54.11 crs. The first half of 2015 has witnessed absence of higher Exceptional Income in the form of Forex Gain which was present in first half of 2014 (Rs (‐) 0.21 crs in H12015 as compared to Rs 11.15 crs in H1 2015) and also absence of Other Income consisting of exceptional items like Profit on sale of assets/investments of Rs 6.16 crs in H1 2015 as compared to Rs 15.32 crs in H1 2014.
 
I also need to draw your attention that your company’s performance in Yarn Division during the first half of 2015 was hampered by some factors which were beyond its control. An unfavorable movement in cotton prices continued to stress the yarn division as the price of yarn did not keep pace with the increased cotton costs. This period also witnessed labour unrest in this Division for about a month which was amicably resolved and the production resumed in full swing. Your management is confident of improving volumes in this division and remains committed to recovering profitability in the second half of the year. With the last phase of loom modernization, your company shall soon be capable of manufacturing value added yarn and also value added fabric which shall help improve realizations and margins.
 
I need to reiterate that your management’s focus is on creating value and long term growth for the company.
 
Thank you, dear Shareholders, for your confidence and loyalty.
 
Yours Truly
Sharad Kumar Saraf 
(Managing Director)
Mr. S.K. Saraf's interview on CNBC-TV18
Location : India
21 AUG 2014

Sharad Saraf, MD, Technocraft Industries India is confident of a 10-12% growth on the topline and 18-20% on the bottomline for coming 2-3 years on back of growth possibilities from oil and gas sector through their acquired company in Canada, and growth prospects from their scaffolding business in US and Europe. Only the yarn business remains a bit unpredictable, he added.

Technically, Q1 has always been a weak quarter but Saraf is hopeful of good growth prospects from the remaining quarters.

The company's Q1 FY15 operating margins were down 480 basis points at 19 percent versus 23.8 percent in the same quarter previous year. Profit After Tax (PAT) was down 33 percent at Rs 20.2 crore versus Rs 30.1 crore year-on-year (Y-o-Y). EBITDA too was down 3.5 percent at Rs 33.2 crore versus Rs 34.4 crore Y-o-Y. Only total income was up 21.2 percnet at Rs 175 crore versus Rs 145 crore.

Currently the company has about two months of order-on-hand for scaffolding business said Saraf. Basically, for the yarn business the orders are not of a long-term nature

Moreover, throwing more light on the company's dividend policy Saraf said till last year the dividend policy was a bit erratic but now a firm policy has been put in place to distribute certain portion of the income all the time. So, he expects dividend payouts to improve hereon.

"We would expect 25 percent of our disposable income to be distributed to the shareholders," he added.

Below is the transcript of Sharad Saraf’s interview to CNBC-TV18’s Nigel D'Souza and Sumaira Abidi

Nigel: Some of the brokerages are expecting you for the next three years at least to grow on the top line around 10-12 percent and on the bottom-line 18-20 percent. Do you expect to out beat that?

A: Looking at our plans that we have it appears to be achievable and there is no reason why we should not be able to achieve this. We have got growth possibilities in oil and gas sector through our acquired company in Canada. Then we have got good growth prospects in scaffolding business, this business has picked up substantially up in Europe and USA.

Everything depends on our yarn mill which is very cyclical and unpredictable but if everything goes fine which we expect it to, then this kind of growth is not very difficult to achieve.

Sumaira: What exactly is this optimism based on because if we see your Q1 numbers this time, operationally it has not been a good quarter for you, your margins have come down now to that 19 percent mark. What do you think would be a sustainable level for your margins going forward and in the next few years what kind of headroom do you see over here?

A: First quarter is always a weak quarter. However, last year was a different issue. But historically, Q1 is always a weak quarter and that goes for almost all industries.

Secondly, the current Q1 is not comparable with last year’s Q1 because there were significant differences. Last year we had unexpected foreign currency gain of about Rs 6.5 crore. Then we had some profit on asset sale, this made up for that additional profit otherwise operationally the profit is the same. We have got good three quarters left and we should be able to do something similar, I mean improvement over the last year.

Nigel: You were talking about your unpredictable yarn business. In the last quarter in fact on an EBIT level it didn’t give you anything. Do you see that turning around in the next quarter?

A: It has to because it has been at the lowest level now; the only way it can go is up. Situation is changing, cotton prices are loosening up a little bit and we have got some good orders also in yarn. So, hopefully it should go up.

Sumaira: One of the concerns that many analysts have is that there is not a lot of clarity on your dividend policy. Do you want to shed some light on what actually is the policy that you follow?

A: They were quite right till about last year, our policy was little bit erratic but now we have made a firm policy of distributing certain portion of our income all the time. Therefore we expect dividend payouts to only improve over what we have given them.

We would expect about 25 percent of our disposable income to be distributed to the shareholders.

Nigel: Also with regard to currency movement at what rate are you comfortable, at what rate does it gain you and at what rate does it become a bit of a risk to you?

A: It doesn’t go with this logic. What happens is we book orders, say at today’s currency level and when the actual payment comes after three-four months if the currency suddenly appreciates, then we get less rupees and we suffer. But overall now we should be okay because our bookings have now been at 59-60/USD while rupee is well above 60/USD now, and we expect rupee to be about 61/USD. So if it stays above 61/USD, we should be quite okay.

Now on our calculations for the purpose of order booking, we are taking only 59-60/USD as our currency level. So we should be alright.

Nigel: What is your total order book; could you quantify that for us?

A: We have about over two months of orders on hand. In businesses like yarn, the orders are not very long-term; we keep getting orders all the time. For scaffolding we have two and half months of full booking.

Mr. S.K. Saraf invited as Chief guest for the MahaMandi event in NITIE
Location : Mumbai
09 AUG 2014


Interview of Mr. S.K. Saraf on ET Now
Location : India
08 AUG 2014