Usha Martin Ltd
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BSE Code:
517146
NSE Code:
USHAMART
Business Profile
Business Profile
Usha Martin (USHAMARTIN) is engaged in the manufacture of specialty steel and value-added steel products. It was established in 1960 as Usha Martin Black and got its current name in 1983.
The company operates through its various divisions. The ISO 9001 certified wire and wire rope division with its 100,000 MT/annum manufacturing facilities in Ranchi manufactures a range of steel wire ropes which find application in oil exploration, construction, elevators, cranes, mining, fishing, load transportation and general engineering sectors. The ISO 9002 certified steel division in Jamshedpur manufactures steel long products used in industries like automobile, railways, general engineering, fasteners, defence and power. The Bangalore-based, ISO 9001 machinery division in technical collaboration with Marshall Richards Barcro (UK), De-Angeli Industries SPA (Italy), Stolberger Maschinenfabrik (Germany), Hi-Draw Machinery (UK) and Redaelli Techna Meccanica (Italy) manufactures wire drawing and allied machineries.
The Usha Ismal division with a manufacturing unit in Ranchi offers hydraulic presses and accessories for manufacturing mechanically spliced wire rope slings, machines for proof load testing of wire rope slings, and die-less hand operated hydraulic crimping tools. These products find wide application in steel plants, oil sector, heavy engineering industry, port trusts, electricity boards, factories, with electrical contractors, and other sectors. It has planned enrichment and optimization of mineral resources, enhance the capacity of captive power generation and value added products at a project cost of INR 21 billion.
With an established pan-India marketing network, the company has distribution centers in the UK, South Africa, Denmark, USA and Singapore among other countries. The registered office is located at 2A, Shakespeare Sarani, Kolkata-700071.
Financials
The company reported a sharp drop in standalone net profit for the quarter ended December 2008. During the quarter, the profit of the company declined 17.60% to Rs 267.40 million from Rs 324.50 million in the same quarter last year. Net sales for the quarter rose 27.47% to Rs 5,132.40 million, while total income for the quarter rose 26.96% to Rs 5,132.80 million, when compared with the prior year period. posted earnings of Rs 1.07 a share during the quarter, registering 17.69% decline over prior year period.