Technocraft Industries reported a weak set of earnings. In an interview to CNBC-TV18, Sharad Saraf, MD of Technocraft Industries spoke about the results and his outlook for the company.
Technocraft Industries is well-positioned for the next couple of months to remain insulated from steel price rises and thereby neutralise any impact arising out of the hike, according to its management.
Technocraft Industries has been buzzing off late with a 75 per cent gain in the last six months. In an interview to CNBC-TV18, Sharad Saraf, MD of Technocraft Industries said that the stock was undervalued for a long time. Hence, it's coming back to its normal levels now.
"Though the revenue is not very high in drum closures business, the bottom line is good because we are continuously in the process of cost cutting, saving in raw material and labour", Sharad Saraf, MD, Technocraft Industries India told CNBC-TV18.
Currently the company has about two months of order-on-hand for scaffolding business said Sharad Saraf, MD, Technocraft Industries India.
Investors forum members Monday met Economic Affairs Secretary Arvind Mayaram and sought that investigative agencies should take stringent action against those members who are not making payments.