• Source: Usha Martin

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. Usha Martin has grown to become one of the largest wire rope manufacturers globally.




History


Founding and early years: Usha Martin was founded by Basant Kumar Jhawar in 1961 in Kolkata, West Bengal, India. The company started as a small wire rope manufacturing unit and gradually expanded its operations.
Diversification and growth: In the following years Usha Martin diversified its product range and ventured into the production of specialty steel, wire, and other steel products. The company focused on improving its manufacturing processes, quality standards, and technological capabilities.
Expansion and global presence: Usha Martin expanded its manufacturing footprint by setting up additional production facilities in different parts of India. It also established sales offices, distribution networks, and subsidiaries in several countries worldwide, including the United States, the United Kingdom, Dubai, Thailand, and Singapore, thus gaining a global presence.
Acquisitions and strategic partnerships: Over time Usha Martin made strategic acquisitions and entered into partnerships to enhance its market position and product offerings. These moves allowed the company to broaden its portfolio and cater to a wider range of industries and applications.
Sustainability initiatives: Usha Martin has been proactive in adopting sustainable practices and implementing environmentally friendly measures. The company has focused on reducing its carbon footprint, optimizing resource utilization, and promoting eco-friendly manufacturing processes.




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. Here are a few examples:

Wire rope manufacturing: The company has supplied wire ropes for various applications in sectors such as oil and gas, mining, elevators, cranes, bridges, and general engineering.
Infrastructure and construction projects: The firm has been involved in supplying steel products, including wire ropes and strands, for infrastructure and construction projects. This includes projects such as bridges, flyovers, metro rail systems, and other large-scale construction initiatives.
Oil and gas industry: Usha Martin has provided wire ropes and steel products for offshore oil and gas exploration and production projects. These products are used in applications like drilling rigs, offshore platforms, and subsea operations.
Mining industry: The company has supplied wire ropes for various mining applications, including hauling, lifting, and material handling in both underground and open-cast mines.
Elevators/lifts: Usha Martin manufactures wire ropes used in elevator systems for commercial buildings, residential complexes, and industrial facilities. These wire ropes ensure safe and reliable vertical transportation.
Wind energy: Usha Martin has been involved in the supply of steel wire ropes for wind turbines. These wire ropes are used for tasks such as hoisting, installation, and maintenance of wind turbine components.




Corporate management


Chairman: Mr. Vijay Singh Bapna is a master of commerce from University of Udaipur, Rajasthan and also a qualified Chartered Accountant. Mr. Bapna is presently on the boards of various corporates. During his career, Mr. Bapna has been associated with corporates like Aditya Birla Group, Essar Group of Companies, Ispat Industries, Reliance Petroleum, Vedanta Group, Indorama Group and Welspun Group in various senior capacities both in India and abroad. He has over four decades of experience which traverses accounts, costing and taxation, project implementation and plant operation.
Managing director: Mr. Rajeev Jhawar
Company Secretary: Mr. Manish Agarwal
Chief Financial Officer: Mr. Abhijit Paul




Subsidiaries






= Usha Martin Education & Solutions Limited

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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.




= Usha Martin Technologies Limited

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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

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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

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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

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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.




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.
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.




References

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