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Technocraft Industries eyes ₹1,000 crore revenue potential from formwork plant
KV Prasad Jun 13, 2022, 06:35 AM IST (Published)
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Summary
In a strategic move, Technocraft Industries has shut down its yarn plant in Murbad, opting to replace it with a more efficient facility in Amravati. This decision is projected to result in cost savings, with the company expecting to save ₹50 lakh per month on electricity expenses alone.
In an exclusive interview with CNBC-TV18, Sharad Saraf, CMD of Technocraft Industries India – headquartered in Mumbai, Maharashtra – revealed his plans for the company’s expansion and revenue generation.
Technocraft Industries is renowned for manufacturing and supplying high-quality steel tubes. However, its latest focus lies in the formwork sector, with Saraf disclosing that the potential revenue from the new formwork plant could soar to ₹1,000 crore.
Technocraft was established in 1972 as a precision engineering services company and diversified into a cotton yarn manufacturing business in 1997. It produces high-precision scaffolding systems for building construction.
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The company is gearing up to produce aluminium formwork specifically designed for infrastructure projects in Aurangabad. The expansion of the Aurangabad plant is expected to yield revenues of up to ₹800 crore in the first year.
In a strategic move, Technocraft Industries has shut down its yarn plant in Murbad, opting to replace it with a more efficient facility in Amravati. This decision is projected to result in cost savings, with the company expecting to save ₹50 lakh per month on electricity expenses alone. Moreover, the adoption of new technologies in the yarn production process is expected to yield further savings of ₹40-50 lakh per month.
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The market capitalisation of Technocraft Industries currently stands at ₹4,535.28 crore.
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