Usha Martin

Last updated

Usha Martin Limited
Company typePublic company
BSE:  517146, NSE:  USHAMART
ISIN INE228A01035
Industry
Founded1961;64 years ago (1961)
Headquarters Kolkata, India
Area served
Worldwide
Key people
  • Vijay Singh Bapna
    (Chairman)
  • Rajeev Jhawar
    (Managing director)
  • Anirban Sanyal
    (CFO) [1]
RevenueIncrease2.svg32.96 billion (US$380 million) (2023) [2] [3]
Increase2.svg3.5 billion (US$40 million) (2023) [2]
Total assets Increase2.svg27.42 billion (US$320 million) (2022) [3]
Total equity Increase2.svg16.97 billion (US$200 million) (2022) [3]
Website Official website

Usha Martin Limited is an Indian multinational company that primarily operates in the steel and wire rope manufacturing industry. It was founded in 1961 by Basant Kumar Jhawar and is headquartered in Kolkata, West Bengal, India. [4] Usha Martin has grown to become one of the largest wire rope manufacturers globally. [5] [6]

Contents

History

Overview

Over the years Usha Martin has expanded its operations and established manufacturing facilities in several locations in India and internationally. It has sales offices, distribution networks, and subsidiaries in countries like the United States, the United Kingdom, Dubai, Thailand, and Singapore. Usha Martin has been involved in a wide range of projects and collaborations across different industries. [10] Here are a few examples:

Corporate management

Subsidiaries

Usha Martin Education & Solutions Limited

UMESL is a subsidiary of Usha Martin focused on the education and information technology sector. It offers training and education in the field of information technology and related services. [15] [16]

Usha Martin Technologies Limited

UMTL is another subsidiary of Usha Martin that operates in the information technology sector. It provides software development, IT consulting, and outsourcing services to clients in various industries.

Usha Martin Infrastructure Limited

UMIL is a subsidiary engaged in infrastructure development and construction projects. It undertakes projects in areas such as real estate, urban infrastructure, and transportation.

Usha Martin International Limited

UMIL is a subsidiary that focuses on international trading and distribution of Usha Martin's products. It facilitates the export and import of steel products, wire ropes, and other materials across different countries.

Usha Beltron Limited

UBL is a subsidiary involved in the manufacturing and marketing of electronic products, primarily in the field of power electronics and telecommunications.

Financials

Usha Martin reported a total income of Rs. 32958.2 million during the financial year ended 31 March 2023, compared with Rs.27233.1 million during the financial year ended 31 March 2022. The company had a net profit of Rs.3501.4 million for the financial year ended 31 March 2023 as against net profit of Rs.2912.7 million for the financial year ended 31 March 2022. [2] [17]

Products and services

The company specializes in the production of wire ropes, strands, wire, and specialty steel products. It caters to various industries such as oil and gas, mining, construction, infrastructure, elevators, and general engineering. Usha Martin's wire ropes find applications in lifting, towing, mooring, and material handling operations. [18]

Usha Martin has a diverse product portfolio that includes wire ropes, wire strands, bright bars, specialty wires, and steel products.

In addition to its steel and wire rope business, Usha Martin also has interests in other sectors such as real estate, agriculture, and information technology. [19]

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References

  1. "Usha Martin Management Information – Details of Usha Martin Management". The Economic Times. Retrieved 8 June 2023.
  2. 1 2 3 "Usha Martin Ltd consolidated Q4FY23 PAT up QoQ at Rs. 105.21 crores". EquityBulls. 28 April 2023. Retrieved 8 June 2023.
  3. 1 2 3 "Usha Martin Ltd. 2022 Annual Report" (PDF). bseindia.com. Retrieved 26 June 2023.
  4. "Usha Martin appoints Anirban Sanyal as CFO". mint. 8 April 2019. Retrieved 8 June 2023.
  5. "Up 63% in 2022! Usha Martin is HDFC Securities' top techno funda pick". Mintgenie. Retrieved 8 June 2023.
  6. PTI (21 September 2017). "Usha Martin mulls selling either steel or wire rope business". mint. Retrieved 8 June 2023.
  7. "Prashant Jhawar pares Usha Martin stake". www.telegraphindia.com. Retrieved 8 June 2023.
  8. "Strife at Usha Martin intensifies". The Asian Age. 2 April 2019. Retrieved 8 June 2023.
  9. Bhalla, Mohit; Mazumdar, Rakhi (3 February 2018). "Row within Usha Martin founding family intensifies". The Economic Times. ISSN   0013-0389 . Retrieved 8 June 2023.
  10. Das, Vipul (29 April 2023). "Multibagger stock trading 114% above 52-week-low declares 250% dividend: Do you own?". mint. Retrieved 8 June 2023.
  11. "Fire breaks out at one of the world's largest wire rope manufacturing units in Jharkhand". The New Indian Express. Retrieved 8 June 2023.
  12. "Usha Martin's board reappoints Rajeev Jhawar as managing director for five years". FINANCIAL EXPRESS. Retrieved 5 February 2018.
  13. "USHA MARTIN LTD. SHARE PRICE". FINANCIAL EXPRESS. Retrieved 12 June 2023.
  14. "CommunicationtoStockExchangeson27.04.2023–ChangeinDirectorate_20230427175712" (PDF). Usha Martin Limited. Retrieved 27 April 2023.
  15. "Usha Martin Edu Standalone March 2023 Net Sales at Rs 0.10 crore, down 44.34% Y-o-Y". Moneycontrol. 31 May 2023. Retrieved 8 June 2023.
  16. "We Ran A Stock Scan For Earnings Growth And Usha Martin Education & Solutions (NSE:UMESLTD) Passed With Ease". simplywall.st. 16 June 2022. Retrieved 8 June 2023.
  17. "Usha Martin Consolidated March 2023 Net Sales at Rs 855.22 crore, up 11.57% Y-o-Y". Moneycontrol. 3 May 2023. Retrieved 8 June 2023.
  18. "Basant Jhawar exits Usha Martin". www.telegraphindia.com. Retrieved 8 June 2023.
  19. "Usha Martin sees pick-up in demand post monsoon". www.thehindubusinessline.com. 24 June 2020. Retrieved 8 June 2023.