Skyline Millars Limited (SML) (Formerly Known as Millars India Limited) was incorporated as The ACME Manufacturing Company Limited on 28th November, 1919 under the Indian Companies Act, 1913. Its name was changed to Millars India Limited on 04th January, 2002 and later on changed to Skyline Millars Limited on 23rd Oct. 2007. The Company’s registered office is at C/2, 412-413, Skyline Wealthspace, Near Skyline Oasis, Premier Road, Vidhyavihar (West), Mumbai 400 086.

The Company was promoted by the Walchand Group; Mr. Ashok Patel son of Mr. J.V.Patel acquired the shares from Walchand Group and took over the management in 1972. Khandelwal Udyog Limited a manufacturer of EOT Cranes & Millars Timber and Trading Company were acquired by Mr. J.V. Patel in 1969 and 1970 respectively. Khandelwal Udyog Limited was merged with The ACME Manufacturing Company Limited w.e.f 1st October, 1974 as per the order of the Bombay High Court dated 13th August, 1976. The running business of construction machinery of M/s Millars Machinery Company Private Limited was taken over by the Company in 1984. Mr. Ashok J. Patel was the Managing Director of the Company from 1974 to 1984 and thereafter he became the Chairman of the Company till 2009.

The main activities of the Company are manufacturing of construction equipment and EOT cranes. It has recently entered into property development business. The Company’s manufacturing activities which were being carried out at its unit at Ghatkopar, Mumbai have been fully shifted since October, 2003 from Ghatkopar, Mumbai to its works at Karamsad, Gujarat.

The company continued to make operating profits and net profits up to 1994-95. It’s started incurring operating losses from 1995-96. Due to recession in the capital goods industry and high labour cost at Ghatkopar, Mumbai, the crane manufacturing activity at Ghatkopar started incurring losses from 1996 and thereafter due to continuous losses in the Company for four years, it was declared as a Sick Industrial Undertaking by the Board for Industrial and Financial Reconstruction (BIFR). BIFR sanctioned a scheme of Rehabilitation in 2001 appointing Bank of India as a monitoring agency. As a rehabilitation measure, the company shifted its manufacturing activities from Ghatkopar, Mumbai to Karamsad, Gujarat in October, 2003 and entered into joint development agreement for its Ghatkopar property with M/s Skyline Residency Private Limited. The Company adopted various other rehabilitation measures which has resulted in its net worth becoming positive from 2003-04. Consequently, as per the summary record of the proceedings of the review hearing held on 17th October, 2006, the BIFR has discharged the Company from the purview of the Sick Industrial Companies ( Special Provisions ) Act, 1985 / BIFR. Accordingly, SML is no longer a “Sick” Company.

The registered office and Corporate Office of the company is situated at
Skyline Millars Limited
C/2, 412-413, Skyline Wealthspace,
Near Skyline Oasis,
Premier Road, Vidhyavihar (West),
Mumbai 400 086.
Tel : 022-25027708/09
Fax : 022-25027705

The company is listed on the Bombay Stock Exchange and Ahemadabad Stock exchange since 1984.