Usha Martin is one of the world’s leading manufacturers of wire rope. The wire rope manufacturing facilities located in Ranchi, Hoshiarpur, Dubai, Bangkok and UK produce one of the widest ranges of wire ropes in the world. The infrastructural facilities of UML are equipped with the latest state-of-the-art high-capacity machines to manufacture world-class products. Rajeev Jhawar, the son of Brij Kishore Jhawar, is the managing director of Usha Martin Limited. He has been at the helm of the Usha Martin Group for three decades.
Previous year proved to be most challenging for Usha Martin Limited and also the whole world as COVID-19 brought economies and businesses to a grinding halt. India was hit hard by the pandemic. Usha Martin Limited expects the Indian economy to rebound on the back of stifled demand across sectors. Rajeev Jhawar, Managing Director of Usha Martin Limited hopes that Reserve Bank of India’s (RBI) monetary stimulus and the Government of India’s fiscal measures will bring the economy back to a sustainable positive territory. He believes that the substantial budgetary outlay on infrastructure by Government of India will augur well for their business.
Rajeev Jhawar Usha Martin is preparing for a new chapter this year. This year, Usha Martin recorded a consolidated revenue of Rs. 2,097.28 crore, compared to Rs. 2,153.82 crore in the previous year. The consolidated EBITDA stood at Rs. 312.56 crore compared to Rs. 284.96 crore in the previous year. Rajeev Jhawar acknowledges that during the year, UML had adequate working capital and liquidity, which ensured that their operations went on smoothly.
Under the leadership of Rajeev Jhawar, at Usha Martin, they were able to solidify the leadership position through the delivery of industry-leading quality products across our state-of-the-art manufacturing facilities. “By leveraging the capabilities of R&D facilities in Italy and India, we are constantly striving to enhance manufacturing efficiencies and quality of our products. We continue to engage with our customers to deepen relationships with them and build our brand recall and respect”, says Rajeev Jhawar.
Rajeev Jhawar also express concerns that raw material sourcing is likely to remain a major challenge in FY 2021-22 and beyond. So, expanding the raw material supplier base – both nationally and internationally is to be on the fast track. Enrichment of product mix will continue to be one of the key drivers for the firm. Speaking of the new products, Rajeev Jhawar says that Usha Martin aims to shift the focus from Volume to Value by exiting from low contributory items gradually and focusing more on high value-added products. Business through service-oriented projects and import substitution is already on the rise and expected to grow further in this fiscal.
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