Usha Martin

Usha Martin Limited
Company typePublic company
BSE: 517146, NSE: USHAMART
ISININE228A01035
Industry
Founded1961 (1961)
HeadquartersKolkata, India
Area served
Worldwide
Key people
  • Vijay Singh Bapna
    (Chairman)
  • Rajeev Jhawar
    (Managing director)
  • Anirban Sanyal
    (CFO)[1]
Revenue ₹32.96 billion (US$390 million) (2023)[2][3]
₹3.5 billion (US$41 million) (2023)[2]
Total assets ₹27.42 billion (US$320 million) (2022)[3]
Total equity ₹16.97 billion (US$200 million) (2022)[3]
WebsiteOfficial 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 is one of the largest wire rope manufacturers globally.[5][6]

Overview

Usha Martin has manufacturing facilities in many locations in India and internationally. It operates in the United States, the United Kingdom, Dubai, Thailand, and Singapore. It has a wide range of projects and collaborations across different industries.[7] Some of them include wire rope manufacturing for use in sectors such as oil and gas, mining, elevators, cranes, bridges, and general engineering,[8] and for Infrastructure and construction projects like bridges, flyovers and metro rail systems. It also provides wire ropes and steel products for offshore oil and gas exploration projects like drilling rigs, offshore platforms, and subsea operations.[9] Some other industries that it caters to are mining industry, elevators/lifts and wind energy. It also has interests in other sectors such as real estate, agriculture, and information technology.[10]

Corporate management

Vijay Singh Bapna is the chairman while Rajeev Jhawar is the Managing director.[11][12][13] The Company Secretary is Manish Agarwal and the Chief Financial Officer is Abhijit Paul

Subsidiaries

Usha Martin has subsidiaries like Usha Martin Education & Solutions Limited,[14][15] Usha Martin Technologies Limited, Usha Martin Infrastructure Limited, Usha Martin International Limited and Usha Beltron Limited.

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][16]

References

  1. ^ "Usha Martin Management Information – Details of Usha Martin Management". The Economic Times. Retrieved 8 June 2023.
  2. ^ a b c "Usha Martin Ltd consolidated Q4FY23 PAT up QoQ at Rs. 105.21 crores". EquityBulls. 28 April 2023. Retrieved 8 June 2023.
  3. ^ a b c "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. ^ Das, Vipul (29 April 2023). "Multibagger stock trading 114% above 52-week-low declares 250% dividend: Do you own?". mint. Retrieved 8 June 2023.
  8. ^ "Fire breaks out at one of the world's largest wire rope manufacturing units in Jharkhand". The New Indian Express. 4 January 2023. Retrieved 8 June 2023.
  9. ^ "Basant Jhawar exits Usha Martin". www.telegraphindia.com. Retrieved 8 June 2023.
  10. ^ "Usha Martin sees pick-up in demand post monsoon". www.thehindubusinessline.com. 24 June 2020. Retrieved 8 June 2023.
  11. ^ Kanungo, Soumonty (5 February 2018). "Usha Martin's board reappoints Rajeev Jhawar as managing director for five years". FINANCIAL EXPRESS. Retrieved 5 February 2018.
  12. ^ "USHA MARTIN LTD. SHARE PRICE". FINANCIAL EXPRESS. Retrieved 12 June 2023.
  13. ^ "CommunicationtoStockExchangeson27.04.2023–ChangeinDirectorate_20230427175712" (PDF). Usha Martin Limited. Retrieved 27 April 2023.
  14. ^ "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.
  15. ^ "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.
  16. ^ "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.
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