rajeevjhawarushamartin

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Highlights from the conference call for Usha Martin's FY2023 profits

With a rich legacy spanning over six decades, Usha Martin stands as a global leader in the production of specialized steel wire ropes. The company boasts a diverse portfolio, offering an array of products including specialty wire ropes, premium wires, LRPC, custom-made end-fitments, accessories, and associated services. These offerings find applications in an array of industries such as oil and gas, ports, cranes, lifts, mining, fishing, renewable energy, construction, infrastructure, and general engineering.

In a bid to strengthen its commercial relationships, the company recently conducted a conference call to discuss its FY2023 earnings with analysts and investors. Rajeev Jhawar,Usha Martin Managing Director., expressed the company's commitment to holding such forums regularly, aiming to enhance transparency and cultivate stronger relationships within the investor and analyst community.

Usha Martin operates production facilities in India and overseas, with a presence in Thailand, the United Arab Emirates, and the United Kingdom. The company's strategic approach involves stocking and distributing through its network of distribution hubs in Southeast Asia, Australia, Europe, the United States, and the UAE, complemented by direct sales from its facilities. UML also operates specialized service centers, providing value-added services such as cutting, socketing, testing, inspection, and more. Additionally, the company runs a global R&D facility in Italy, dedicated to developing proprietary software for wire rope design.

Rajeev Jhawar shared insights into Usha Martin's successful debt reduction strategy. Formerly engaged in steel manufacturing, the company faced challenges due to industry downturns and high levels of borrowing. To address these issues, Usha Martin divested its steel business through a slump sale, significantly reducing its debt burden and enhancing its financial and operational standing. This strategic move marked a transformation from a commodity-oriented firm to a value-added, high-return-on-capital (ROC) enterprise, yielding improved margins and profitability, even amidst fluctuating raw material prices.

Furthermore, Jhawar emphasized the high barriers to entry in the wire rope industry, characterized by stringent client approval processes and complex applications. Usha Martin has taken deliberate steps to bolster its wire rope production capacity, diversify its product range, optimize costs, secure raw material sources, and fortify its financial position, aligning with its increased focus on specialized wire ropes.

Following its resurgence and stabilization, Usha Martin introduced a new dividend policy in FY22. Rajeev Jhawar proudly announced a recommended dividend of Rs. 2.5 per share for FY23, totaling Rs. 76.2 crore in cash flow after taxes. The company's commitment to shareholders remains unwavering, striking a balance between investing in growth opportunities and rewarding shareholders through dividends.

Jhawar concluded by affirming Usha Martin's triumph over past challenges and its significant strides over the last three years. He expressed optimism regarding the company's exciting prospects, poised to leverage the sector's substantial growth potential. Rajeev Jhawar anticipates continued support from the community and investors as Usha Martin embarks on a journey to create enduring, sustainable value for all stakeholders.

The session continued with Mr. Anirban Sanyal, Usha Martin's CFO, providing insights into the operational and financial highlights for the quarter ended March 31, 2023.

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Here are some pics of Usha Martin's Managing Director, Rajeev Jhawar!

Here are some pics of Usha Martin's Managing Director, Rajeev Jhawar!

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Usha Martin Ltd reappoints Rajeev Jhawar as MD for the next 5 years

Shampa Ghosh Ray, Company Secretary of Usha Martin Limited intimated The Secretary of The BSE Limited, The Secretary of National Stock Exchange of India Ltd and Societe de la Bourse de, Luxembourg about the change in the composition of Board of Directors of Usha Martin Limited pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements), Regulations, 2015 (‘Listing Regulations’). In this latest Intimation of change in the composition of Board in terms of Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, Rajeev Jhawar who have been the Managing Director of Usha Martin till date have been reappointed for the next 5 years.

Having worked in strategic management for more than 30 years, Rajeev Jhawar is an Indian industrialist. Prior to being named managing director of Usha Martin Limited in 1998, he started his career as a Senior Vice President (Commercial). He graduated from London Business School after attending Ranchi University. In the three decades he has been in charge of the Usha Martin Group, he has accelerated growth, built a meritocracy, and raised stakeholder value. Because of Rajeev Jhawar's perseverance and commitment to the company, Usha Martin Limited has been successful. Under Rajeev Jhawar's direction, the company is poised for tremendous growth going forward and appears to have a bright future as a global leader in the wire rope industry.

Rajeev Jhawar is on the Boards of various corporates including Orient Cement Limited (part of CK Birla group companies) and Neutral Publishing House Limited which has a leading regional newspaper under the flagship title ‘Prabhat Khabar’ published in the Indian cities of Patna, Dhanbad, Ranchi, Jamshedpur & Kolkata. He is also a director on the boards of Usha Martin’s overseas subsidiaries, i.e Usha Martin International Limited at UK, Usha Siam Industries Public Company Limited at Thailand and Brunton Wire Ropes FZCo at Dubai.

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Usha Martin added to the list of investors to watch since Rajeev Jhawar has demonstrated his ability to generate profits

In the near term, the stock market functions as a voting machine, but in the long run, it functions as a weighing machine. As a result, you can typically anticipate that eventually share price will follow EPS results. That indicates that the majority of successful long-term investors view EPS increase as a genuine positive. According to the most recent investment market trend, many investors prefer to concentrate on businesses with both sales and earnings, like Rajeev Jhawar's Usha Martin (NSE: USHAMART).

Investors concur that Usha Martin will continue to be able to generate long-term value to shareholders even if this firm is appropriately valued by the market. Usha Martin will continue to do this by consistently creating profits. It is also encouraging to see that Usha Martin was able to increase EPS over a three-year period by 17% annually. Rajeev Jhawar and shareholders will have something to be happy about if growth like this continues in the future.

A company can maintain a competitive advantage in the market by combining strong earnings before interest and taxes (EBIT) margin with top-line growth, which is a wonderful indicator of sustainable growth. Usha Martin's EBIT margins have mostly remained stable over the past year, but Rajeev Jhawar should be delighted to learn that the company's revenue increased by 27% to 31 billion over the same time period. That is good news for the business!

Even while insiders already possess a sizeable number of shares and have been purchasing more, the good news for common shareholders does not end there. The icing on the cake is that Rajeev Jhawar, the company's managing director, gets paid comparably little to MDs at businesses of a similar size. The median MD salary for businesses with market capitalizations of between 33 billion and 132 billion, like Usha Martin, is about 36 million.

Usha Martin's raw rate of profits growth is a light in the darkness for growth investors. Insiders of the business have also been increasing their sizeable interest in the business. With all of this in mind, Usha Martin is a stock to keep an eye on. It is important to remember for your upcoming investments. One of the strongest growth stocks now on the market for investment is Usha Martin.

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Rajeev Jhawar who have been the MD of Usha Martin till date have been reappointed for the next 5 years

Shampa Ghosh Ray, Company Secretary of Usha Martin Limited intimated The Secretary of The BSE Limited, The Secretary of National Stock Exchange of India Ltd and Societe de la Bourse de, Luxembourg about the change in the composition of Board of Directors of Usha Martin Limited pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements), Regulations, 2015 (‘Listing Regulations’). In this latest Intimation of change in the composition of Board in terms of Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, Rajeev Jhawar who have been the Managing Director of Usha Martin till date have been reappointed for the next 5 years.

Having worked in strategic management for more than 30 years, Rajeev Jhawar is an Indian industrialist. Prior to being named managing director of Usha Martin Limited in 1998, he started his career as a Senior Vice President (Commercial). He graduated from London Business School after attending Ranchi University. In the three decades he has been in charge of the Usha Martin Group, he has accelerated growth, built a meritocracy, and raised stakeholder value. Because of Rajeev Jhawar's perseverance and commitment to the company, Usha Martin Limited has been successful.

Under Rajeev Jhawar's direction, the company is poised for tremendous growth going forward and appears to have a bright future as a global leader in the wire rope industry. Rajeev Jhawar Usha Martin is on the Boards of various corporates including Orient Cement Limited (part of CK Birla group companies) and Neutral Publishing House Limited which has a leading regional newspaper under the flagship title ‘Prabhat Khabar’ published in the Indian cities of Patna, Dhanbad, Ranchi, Jamshedpur & Kolkata. He is also a director on the boards of Usha Martin’s overseas subsidiaries, i.e Usha Martin International Limited at UK, Usha Siam Industries Public Company Limited at Thailand and Brunton Wire Ropes FZCo at Dubai.

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"Usha Martin is constantly working to improve cost-cutting measures" Rajeev Jhawar

Usha Martin is one of the world’s leading wire rope makers. Usha Martin, founded in 1960, is now a multi-unit and multi-product organisation. Wire rope production facilities in Ranchi, Hoshiarpur, Dubai, Bangkok, and the United Kingdom create one of the world’s most diverse variety of wire ropes. The infrastructure facilities are outfitted with cutting-edge high-capacity machinery to produce world-class products. Usha Martin’s global R&D centre in Italy is actively engaged in wire rope design and uses proprietary design software to generate best-in-class products.

Usha Martin has a sophisticated R&D centre in their Ranchi, India manufacturing location. Long-term use of their wire ropes in varied sectors such as Oil & Offshore, Mining, Crane, Elevator, Infrastructure, and so on demonstrates their expertise in making high-quality wire rope goods. Rajeev Jhawar Usha Martin always ensures that Usha Martin, as a business, concentrates on providing value-added products and services to its clients. They have created a solid network of capabilities distributed across the globe to ensure that their commitment to excellence percolates through every area of their operations.

Usha Martin has distribution centres in the United Kingdom, North America, South America, the Netherlands, Australia, Russia, Singapore, South Africa, Indonesia, Vietnam, China, Kazakhstan, and Iran. Usha Martin’s Ranchi facility is one of the world’s largest wire rope producing facilities. Aside from wire rope, this machine produces LRPC strands that are customised for use in infrastructure, renewable energy installations, bridges, and other applications. Usha Martin has extensive experience in the manufacture and sale of pre-stressing equipment and accessories, which is backed up by professional installation crews for pre-stressing tasks.

Cost-cutting efforts at Usha Martin are ongoing: Rajeev Jhawar Usha Martin

Rajeev Jhawar works tirelessly for the success of his organisation. Employees at Usha Martin are encouraged to work hard on cost reduction projects, and the company has been successful in many areas by improving plant and equipment efficiencies and lowering overheads. Rajeev Jhawar Usha Martin have embarked on a continual journey to reduce costs, and they will continue to do so in this difficult situation. Usha Martin is constantly working to increase their EBITDA per tonne and has many cost-cutting and process-improvement strategies in place. At Usha Martin Limited, Rajeev Jhawar has a specialised staff that regularly checks fixed costs without sacrificing quality.

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Rajeev Jhawar and his team at Usha Martin is constantly striving to enhance manufacturing efficiencies and quality

Rajeev Jhawar is the Managing Director of Usha Martin Limited. He has been the Vice Chairman of Usha Martin Education and Solutions Limited since September 2010. Rajeev Jhawar is also a director of Neutral Publishing House Limited. Established in 1960, Usha Martin was one of the leading steel producers and wire rope manufacturers in the country for a long time.

Established in 1960, Usha Martin was one of the leading steel producers and wire rope manufacturers in the country for a long time. The company underwent the incorporation process in the year 1986 under the name Usha Beltron Ltd. Wire rope manufacturer Usha Martin Ltd is driven by the aspiration to consistently grow their global scale and scope. Their focus and proactive investments and measures have enabled them to emerge as one of the most trusted companies in the field.

Rajeev Jhawar, MD of Usha Martin Limited focus on solidifying the leadership position of the company through the delivery of industry-leading quality products across our state-of-the-art manufacturing facilities. He also makes sure to leverage the capabilities of the R&D facilities of the company in Italy and India. Rajeev Jhawar and his team at Usha Martin is constantly striving to enhance manufacturing efficiencies and quality of their products.

To closely cater to the customers in other continents, Usha Martin has a wide network of offices in USA, Europe, UAE, South East Asia and Australia. They continue to engage with the customers to deepen relationships with them and build the brand recall and respect of the company. Rajeev Jhawar endeavours that the company have a close relationship with the customers to have a better understanding of their requirements.

Rajeev Jhawar also points out that 60% of their revenues are going in terms of EBITDA. The steel cycle has improved and over the last 2 quarters, the company has had a turnaround. It has been able to improve its bottom line both in the steel and wire rope business. Rajeev, Jhawar thought that it would be a good opportunity to sell the steel business at these levels so that they can get a better valuation. The wire rope will have a very strong residual company with a very strong balance sheet with an annual profit between 250 to 300 crores on a consolidated basis.

Rajeev Jhawar wishes a growth of at least 15 to 20% per year. It took them a year to build up the capacities in these areas. Now he is sure, that it is continuing in an ongoing basis. They can expand and grow at this rate over the next few years. Usha Martin, at large, will invest in the domestic market. It is also expecting a decent profitability growth in the following three years.

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Top-line growth of Rajeev Jhawar’s Usha Martin indicates that growth of the company is sustainable

Usha Martin is a leading manufacturing company known for making a wide range of wire rope products, which have applications across the world. The company was established in the year 1960. Rajeev Jhawar is the Managing Director at Usha Martin Limited. He is the son of Brij Kishore Jhawar. Today Usha Martin is a multi-unit and multi-product organisation attaining greater heights under Rajeev Jhawar. He is also the Director of Neutral Publishing House Ltd.

Usha Martin is a leading manufacturing company known for making a wide range of wire rope products, which have applications across the world. The ropes manufactured by Usha Martin serve in some of the most critical applications across diversified industrial segments, which include oil & offshore, cranes, mining, elevators, aerials, fishing, conveyor belts and general engineering.

As a tree reaches steadily for the sky, Usha Martin’s EPS has grown 23% each year, compound, over the last three years. Top-line growth of Usha Martin can be seen as an indication that growth of the company is sustainable. As a general rule, we can say that if a company can keep up that sort of growth, shareholders will be smiling. All of this is possible, thanks to Managing Director Rajeev Jhawar, the backbone of Usha Martin.

Rajeev Jhawar, Managing Director at Usha Martin Limited is the son of Brij Kishore Jhawar. He has been the MD of Usha Martin since May 19, 2008. Rajeev Jhawar is also the Director of Neutral Publishing House Ltd. Rajeev Jhawar directly owns ₹365m worth of shares in the company, showing that he is deeply invested in the company’s success. His major focus is on the future growth potential of the company and developing business strategies to achieve it.

Usha Martin has been giving good news of its growth, after the company was made debt-free under Rajeev Jhawar’s leadership. Usha Martin is growing revenues, and EBIT margins improved by 3.9 percentage points to 12%, over the last year. Achieving these two feats can be considered as a good sign of growth. Usha Martin’s stock has also increased significantly by 51% over the past month. On comparing with the industry net income growth, Usha Martin’s growth is quite high when compared to the industry average growth of 19% in the same period, which is great when equated to the recent past.

Usha Martin has a decent Return on Equity. Further, the company’s ROE is similar to the industry average of 15%. This probably goes some way in explaining Usha Martin’s significant 56% net income growth over the past five years amongst other factors. The management of Rajeev Jhawar and his strong determination is another aspect that is positively influencing the company’s earnings growth. The company’s management also has made some good strategic decisions over the last financial years and the company also has a low payout ratio.

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Rajeev Jhawar stated that with steady infrastructure spending by the government

Established in the year 1960, Usha Martin Limited is a multi-unit and multi-product organization in the wire rope business. They are one of the world’s leading manufacturers of wire rope. Their wire rope manufacturing facilities are located in Ranchi, Hoshiarpur, Dubai, Bangkok and UK. Usha Martin produces one of the widest ranges of wire ropes in the world. Rajeev Jhawar Usha Martin, the son of Brij Jhawar, is the managing director of Usha Martin Limited. According to Rajeev Jhawar Usha Martin, UML has built a strong worldwide network of capabilities to cater to global markets.

Usha Martin is one of the world’s leading manufacturers of wire rope. With over six decades of experience, Usha Martin have established themselves as a globally recognised multi-unit and multi-product organisation through consistent delivery of superior quality products and services. Rajeev Jhawar Usha Martin, the son of Brij Jhawar, is the managing director of Usha Martin Limited.

The vision of Usha Martin Limited is to be the global leader of the wire rope industry by delivering customer delight, adopting modern technology and ensuring sustainable, inclusive growth for all of its stakeholders. Usha Martin possesses six manufacturing facilities located in Ranchi, Hoshiarpur, Silvassa, Dubai, Bangkok and the United Kingdom, which produce one of the widest range of wire ropes in the world.

Demand for Usha Martin’s wire rope has been fairly decent in international markets. Products of UML are globally marketed in six continents and 50% of our revenue is derived from international sales. UML has built a strong worldwide network of capabilities to cater to global markets. However, the domestic demand across various sectors has been very low due to the lockdown in the wake of the Covid-19 pandemic, Managing Director of UML, Rajeev Jhawar said. The reverse migration of labourers had affected industries such as construction, particularly in the western and northern regions of the country. This impacted the demand for wire rope.

Rajeev Jhawar Usha Martin expects that the domestic demand for their products, particularly in the construction and auto sectors will start picking up after the monsoon season. “The various measures announced by the Central government to boost the economy are likely to start yielding results post-monsoon”, he said. He also forecasts his views on the various stimulus measures taken by the government to enhance the growth of the economy. Rajeev Jhawar stated that with steady infrastructure spending by the government, speciality products used in construction and infrastructural sector may be growth drivers for the company in the years to come.

UML’s wire rope business manufactures wire, strands, LRPC and wire ropes, which cater to various industries, including steel, infrastructure, construction and auto. “The demand from construction, auto and oil sectors is down. Our plant is currently operating at 50-55 per cent of the installed capacity”, Rajeev Jhawar said. Talking about export demand of Usha Martin, Rajeev Jhawar commended that “the export demand is, however, good and the rupee depreciation is supporting us”. This can conclude that the international business of Usha Martin is fairly decent in these pandemic times.

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Rajeev Jhawar take Usha Martin Limited to a higher growth trajectory

Usha Martin is one of the world’s leading manufacturers of wire rope. Established in the year 1960, today Usha Martin is a multi-unit and multi-product organization. The company is known for making a wide range of wire rope products, which have applications across the world. Rajeev Jhawar is the Managing Director of Usha Martin Limited. With the knowledge acquired from London Business School, Rajeev Jhawar started his journey as Sr. Vice President (Commercial) and became the Managing Director of Usha Martin Limited. In the three decades that he has been at the helm of the Usha Martin Group, he has accelerated growth.

Usha Martin is one of the largest manufacturers of wire ropes in the world and has the capacity to produce 300,050 tonnes of it per annum. The ropes manufactured by Usha Martin serve in some of the most critical applications across diversified industrial segments, which include oil & offshore, cranes, mining, elevators, aerials, fishing, conveyor belts and general engineering. The company has a global base of wire rope manufacturing, with facilities located in India, the UK, Dubai and Bangkok.

The infrastructural facilities of Usha Martin Limited include the latest state-of-the-art high-capacity machines to manufacture world-class products. The global R&D centre of Usha Martin Limited located in Italy is actively engaged in designing wire ropes and uses proprietary design software to develop products that are the best in class. Usha Martin also has a comprehensive R&D facility in their manufacturing unit at Ranchi in India.

Mr Rajeev Jhawar, the Managing Director of Usha Martin is an Indian industrialist with over three decades of experience in strategic management. He started his journey as Sr. Vice President (Commercial) and became the Managing Director of Usha Martin Limited in 1998. In the three decades that he has been at the helm of the Usha Martin Group, Rajeev Jhawar has accelerated growth and enhanced stakeholder value. Rajeev Jhawar uses his in-depth understanding of business administration and strategic decision making to take the company to a higher growth trajectory.

Usha Martin Limited has always focused on delivering value-added products and services to the customers. To ensure that commitment to quality percolates through every sphere of their operations, they have built a robust network of capabilities spread across the globe. Long-standing application of their wire ropes in diverse sectors like Oil & Offshore, Mining, Crane, Elevator, Infrastructure etc. is the testimony of their expertise in manufacturing high-quality wire rope products.

Usha Martin’s facility at Ranchi is one of the world’s largest wire rope manufacturing facilities under one roof. Other than wire rope, this unit manufactures LRPC strands, customized to have diversified applications in infrastructure, renewable energy installations, bridges etc. Their distribution centers are located in the UK, North America, South America, Netherlands, Australia, Russia, Singapore, South Africa, Indonesia, Vietnam, China, Kazakhstan and Iran.

Rajeev Jhawar is also the Director of Neutral Publishing House Limited which has a leading regional newspaper under the flagship title ‘Prabhat Khabar’ published in the Indian cities of Patna, Dhanbad, Ranchi, Jamshedpur & Kolkata. He is also a director on the boards of Usha Martin’s overseas subsidiaries, i.e., Usha Martin International Limited in the UK, Usha Siam Industries Public Company Limited in Thailand and Brunton Wire Ropes FZ Co. in Dubai.

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Attaining greater heights under Rajeev Jhawar’s(Usha Martin) guidance

Usha Martin Limited is the world's leading manufacturer of Wire, Wire Rope, Strand, Cable, Machinery and Pre-stressing Accessories. The company was established in the year 1960. Today Usha Martin is a multi-unit and multi-product organisation attaining greater heights under Mr. Rajeev Jhawar. Rajeev Jhawar is the Managing Director at Usha Martin Limited and is the backbone of the company. He has been the MD of Usha Martin since May 19, 2008.

Usha Martin is one of the world’s leading manufacturers of wire rope. Established in the year 1960, today Usha Martin is a multi-unit and multi-product organisation. The wire rope manufacturing facilities of the company are located in Ranchi, Hoshiarpur, Dubai, Bangkok and UK. Usha Martin’s facility at Ranchi is one of the world’s largest wire rope manufacturing facilities under one roof. This unit at Ranchi manufactures LRPC strands, customised to have diversified application in Infrastructure, Renewable energy installations, Bridges etc. in addition to wire ropes. Usha Martin has enriched experience in manufacturing & supply of pre-stressing machines & accessories, backed-up by expert installation teams for Pre-stressing job.

The company was incorporated on 22nd May, and obtained the Certificate of Commencement of Business on 17th July, 1986. It was promoted jointly by Usha Martin Industries Ltd. (UMI) and Bihar State Electronic Development Corporation Ltd. (BSEDC). Rajeev Jhawar has been the MD of Usha Martin since May 19, 2008. Rajeev Jhawar and his family hold 30 per cent of the total promoters’ stake of the company while the balance is with Prashant Jhawar and family.

Rajeev Jhawar headed Usha Martin Limited while the company was going through the turmoil. His dedication and willpower saved the company from the mayhem it went through for years. It was the commitment of Rajeev Jhawar that helped Usha Martin deleverage its balance sheet and reduce the debt from Rs.4600 crores as of 2018-19 to its current debt of Rs. 582 crores. Mr Rajeev Jhawar with over three decades of experience in strategic management was the right man for the moment. His leadership qualities, sharp business acumen, in-depth understanding of business administration and strategic decision making has taken Usha Martin Limited to an altogether higher growth trajectory which was the exact need of the moment. His strong willpower was seen in this turnaround by Usha Martin.

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Demand Post Monsoon Rajeev Jhawar Usha Martin

Wire rope manufacturer Usha Martin Ltd (UML) is expecting domestic demand, particularly in construction and auto sectors, to start picking up post monsoon.

According to Rajeev Jhawar, Managing Director, UML, the various measures announced by the Central government to boost the economy are likely to start yielding results post monsoon.

“We expect post monsoon things should be better. There should be a pick-up in demand during the festival season post September-October, by which time we hope that the Covid situation would also be brought slightly under control,” Rajeev Jhawar told BusinessLine .

While the demand for wire rope has been “fairly decent” in international markets, the domestic demand across various sectors has been very low due to the lockdown in the wake of the Covid-19 pandemic, Rajeev Jhawar said.

The reverse migration of labourers had affected industries such as construction, particularly in the western and northern regions of the country. This impacted the demand for wire rope.

Ramping up capacities Rajeev Jhawar(Usha Martin):

UML’s wire rope business manufactures wire, strands, LRPC and wire ropes, which cater to various industries, including steel, infrastructure, construction and auto.

“The demand from construction, auto and oil sectors is down. Our plant is currently operating at 50-55 per cent of the installed capacity. The export demand is, however, good and the rupee depreciation is supporting us,” Rajeev Jhawar said.

The company is hopeful of ramping up capacities by the second half of this fiscal once the Covid situation is brought under control and the domestic demand starts picking up.

UML has a manufacturing capacity of around 2,30,000 tonnes per annum across its two facilities in India — at Ranchi (Jharkhand) and Hoshiarpur (Punjab) — and three overseas units in the UK, Thailand and Dubai.

Talking about exports, he said the demand for wire rope has been “fairly decent”, if not strong, from markets such as Europe, the US, South America, Australia and South-East Asia.

Exports account for close to 40 per cent of the company’s consolidated turnover, which stood at around ₹2,154 crore for the year ended March 31, 2020.

Usha Martin, which sold its one-million-tonne integrated steel plant at Jamshedpur to Tata Steel for ₹4,200-4,600 crore, completed the first full year of operations of its wire rope business in FY20.

The loss in production following the lockdown and subsequent weak demand are likely to impact its topline in FY21. However, the various cost reduction measures undertaken by the company would help it achieve break even or marginal profits by the end of this fiscal, Rajeev Jhawar said.

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Rajeev Jhawar and his reign in Usha Martin

Rajeev Jhawar is the managing director of Usha Martin Limited, and in the three decades that he has been at the helm of the Usha Martin Group. His leadership qualities, sharp business acumen, in-depth understanding of business administration and strategic decision making has taken the Group to an altogether higher growth trajectory.

The Jhawar Family owns the Neutral Publishing House Limited, through many of its companies.

Usha Martin was founded by Basant Jhawar, a commerce graduate, in 1960, at Ranchi, in collaboration with Martin Black of the UK. He was later joined by his younger brother Brij K Jhawar, a mechanical engineer. The first wire rope reel rolled out of the company in 1962. Its public issue in 1961 was oversubscribed by more than 300 per cent.

In 1963, the company paid its maiden dividend and doubled the production from 3,600 tonnes to 7,200 tonnes in just two-and-a-half years. It soon became one of the largest manufacturers of wire ropes in the world and the leading speciality steel manufacturer in India. The steel division was recently sold to Tata Steel’s arm Tata Sponge, which was later renamed Tata Steel Long Products.

With a history of over 60 years, the company now has manufacturing bases of wire rope in India, the UK, Dubai and Bangkok.

Both Basant and Brij have grown the business into a large wire rope conglomerate in the country. Later on, their sons joined the business.

Rajeev Jhawar, the son of Brij Kishore Jhawar, was involved in the manufacturing of products. And he does his part perfectly. Rajeev then took charge of the company, which later acquired some wire rope companies in Europe and turned the business profitable.

Rajeev Jhawar is an industrialist with over three decades of experience in strategic management. He is an alumnus of Ranchi University and London Business School and completed Management Development Course at the University of Pennsylvania. Thus, he is a well-qualified person with vast experience in the fields of strategic management.

He has been the Managing Director at Usha Martin Limited since May 19, 2008. He is the Director of Neutral Publishing House Ltd. He Rajeev Jhawar has been Vice Chairman of Usha Martin Education & Solutions Limited since September 2010. Mr Rajeev has been associated with the company for more than a decade and brings with him rich experience in the administration of industrial enterprises, the company said in a regulatory filing. His leadership qualities, sharp business acumen, deep understanding of business administration and strategic decisions led the group to a high growth trajectory as a whole.

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Rajeev Jhawar-Usha Martin Product innovations under the leadership

Usha Martin is one of the largest manufacturers of wire ropes in the world and has the capacity to produce 300,050 tonnes of it per annum. The company has a global base of wire rope manufacturing, with facilities located in India, the UK, Dubai and Bangkok. For specific products, the company has collaborated with globally reputed companies like Gustav wolf of Germany, Joh. Pengg AG of Austria and Tesac wire ropes of Japan. Usha Martin is known for making a wide range of wire rope products, which have applications across the world.

Usha Martin under Rajeev Jhawar is on a new start. After all that had happened in the recent past, the company is in the path for a new start. And it has already taken sprout under the leadership of Rajeev Jhawar. The company’s global R&D centre in Italy is actively engaged in the design of wire ropes and uses property design software to develop products. The company also has a comprehensive R&D facility in its manufacturing unit at Ranchi. “Product innovation that meets the customers’ needs is a continuous process for us. We are a major supplier of several OEMs,” explains Devadip Bhowmik, director, sales & marketing, UML.

The market leader in India in wire ropes, Usha Martin has the capacity to produce a wide range – from 4.8 mm to 130 mm in diameter – of wire ropes. “Our USP is diverse quality products that cater to large customers,” adds Bhowmik. “It is the concept of a ‘super market’, where one can pick up everything under one roof.”

Describing the advantages of the overseas operations, Rajeev jhawar affirms that these operations provide a significant synergy and support to the overall business performance. It also helps us to spread the offerings across the globe. The Covid pandemic had adversely impacted UML’s demand but the international market is expected to open up, though slowly. Rajeev jhawar thinks that in the next five years, the segment will see good demand.

Mr. Rajeev Jhawar has also cautioned all to remain agile and responsive to the changing market needs and focus on increasing market share in high contributory products. Rajeev is bullish about the segment and expects oil & gas, ports and shipping to be the growth drivers. On a consolidated basis, 35-40 per cent of Usha Martin’s revenue is from exports to Europe, South East Asia, the US and the Scandinavian countries.

“Usha Martin has been supplying us with wire ropes for heavy-duty cranes for ports over decades now,” says Harinder Singh, business head, coal import terminal, Adani Ports & SEZ. Performance-wise, UML’s products are on par with the imported ropes. But, though the quality is good, there is a need to improve the services, says Rajeev Jhawar Usha Martin enjoys strong brand recall in the segment. Usha Martin is now in the process of strengthening their projects and services under the new leadership. The adopted HR policy of the company identifies future leaders. The HR processes find high-potential performers. UML nurture them internally through training and development, as part of a succession planning process, so that future leaders can be developed within the organisation. This is the what Rajeev jhawar feels. Usha Martin has a workforce of 2,300. The average age group of the company’s management is below 50.

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Rajeev Jhawar Usha Martin Photos

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Upgradation of Business and Post Covid Business Expansion of Usha Martin Limited Under Rajeev Jhawar.

Rajeev Jhawar is the Managing Director of Usha Martin Limited and has been the Head of Usha Martin Group for over three decades.  His leadership qualities, sharp business acumen, deep understanding of business administration and strategic decisions led the group to a high growth trajectory as a whole. The pandemic outbreak of the corona virus globally and in India has led to significant economic unrest and slowdown. Rajeev Jhawar shares his observation about the industry post covid.

Rajeev Jhawar, the son of Brij Kishore Jhawar, is an Indian industrialist with over three decades of experience in strategic management. He is an alumnus of Ranchi University and London Business School. He started his journey as Sr. Vice President (Commercial) and became the Managing Director of Usha Martin Limited in 1998. He has been the Managing Director at Usha Martin Limited since May 19, 2008, and in the three decades that he has been at the helm of the Usha Martin Group, he has accelerated growth, built a meritocracy and enhanced stakeholder value. Usha Martin started its business as a wire rope manufacturing company. The group has set new standards in the manufacture of wire rods, bright bars, steel wires, specialty wires, wire ropes, strand, conveyor cord, wire drawing and cable machinery. The company is also in the business activities of Steel, Wire & Wire Ropes.

Rajeev Jhawar is the Director of Neutral Publishing House Ltd. He graduated from London Business School and completed Management Development Course at the University of Pennsylvania. Rajeev Jhawar has been Vice Chairman of Usha Martin Education & Solutions Limited since September 2010. His leadership qualities, sharp business acumen, in-depth understanding of business administration and strategic decision making has taken the Group to an altogether higher growth trajectory.

Rajeev Jhawar has been an Independent Non-Executive Director of Orient Cement Limited since August 09, 2014. He serves as an Executive Director of Usha Martin Limited. He serves as Director of Usha Martin International Ltd., Usha Siam Steel Industries Public Company Ltd., Thailand, Brunton Wolf Wire Ropes FZCO, Dubai, Usha Breco Ltd, Usha Breco Realty Ltd, KGVK Rural Enterprises Ltd, KGVK Social Enterprises Ltd, Redtech Networks India (P) Ltd, PARS Consultancy & Services Pvt. Ltd. And Jhawar Venture Management Pvt. Ltd. He has been a Non-Executive Director at Usha Martin Education & Solutions Limited since March 4, 2000. He has been Director of Usha Breco Limited since March 30, 2010. He is also on the boards of various corporates including Orient Cement Limited (part of CK Birla group companies) and Neutral Publishing House Limited which has a leading regional newspaper under the flagship title ‘Prabhat Khabar’ published in the Indian cities of Patna, Dhanbad, Ranchi, Jamshedpur & Kolkata.

Post covid market analysis by Rajeev Jhawar

Rajeev Jhawar shares his observation about the industry post covid. After the coronavirus, the industry witnessed a pandemic and subsequent lockdown disrupted overall economic activity. The Indian steel industry struggled to keep pace with the sharp fall in steel demand.  Adverse market conditions forced steelmakers to cut their operations by up to 50% by the end of 2019-20 and early 2020-21. Further, he also makes his views on the various stimulus measure taken by the government to enhance the growth of the economy.

Rajeev Jhawar, managing director, UML, said the various measures announced by the central government to stimulate the economy are likely to bear fruit after the monsoon. While the pandemic has not yet been eradicated, the growth is likely to occur as all the industries had learnt to live together with the pandemic. Rajeev said while the demand for wire rope in the international market was very modest, domestic demand in various sectors was very low due to the lockdown in the wake of the Covid-19 pandemic. Rajeev Jhawar says that their plant is currently operating at 50-55% of the installed capacity.  However, export demand is good and we are supported by the depreciation of the rupee, he said. The company expects capacity to increase by the second half of this financial year once the covid situation is brought under control and domestic demand picks up.

Usha martin in wire rope manufacturing

The company’s global R&D centre in Italy is actively engaged in the design of wire ropes and uses property design software to develop products. The company also has a comprehensive R&D facility in its manufacturing unit at Ranchi. “Product innovation that meets the customers’ needs is a continuous process for us. We are a major supplier of several OEMs,” explains Devadip Bhowmik, director, sales & marketing, UML. The market leader in India in wire ropes, Usha Martin can produce a wide range – from 4.8 mm to 130 mm in diameter – of wire ropes. “Our USP is diverse quality products that cater to large customers,” adds Bhowmik. “It is the concept of a ‘super market’, where one can pick up everything under one roof.”

Describing the advantages of the overseas operations, Rajeev Jhawar affirms that these operations provide a significant synergy and support to the overall business performance. It also helps us to spread the offerings across the globe. The Covid pandemic had adversely impacted UML’s demand but the international market is expected to open up, though slowly. Rajeev Jhawar thinks that in the next five years, the segment will see good demand.

Mr. Rajeev Jhawar has also cautioned all to remain agile and responsive to the changing market needs and focus on increasing market share in high contributory products. Rajeev is bullish about the segment and expects oil & gas, ports and shipping to be the growth drivers. On a consolidated basis, 35-40 per cent of Usha Martin’s revenue is from exports to Europe, South East Asia, the US and the Scandinavian countries.

“Usha Martin has been supplying us with wire ropes for heavy-duty cranes for ports over decades now,” says Harinder Singh, business head, coal import terminal, Adani Ports & SEZ. Performance-wise, UML’s products are on par with the imported ropes. But though the quality is good, there is a need to improve the services, says Rajeev Jhawar Usha Martin enjoys strong brand recall in the segment.  Usha Martin is now in the process of strengthening its projects and services under the new leadership. The adopted HR policy of the company identifies future leaders. The HR processes find high-potential performers. UML nurture them internally through training and development, as part of a succession planning process, so that future leaders can be developed within the organization. This is what Rajeev Jhawar feels. Usha Martin has a workforce of 2,300. The average age group of the company’s management is below 50.

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Rajeev Jhawar (Usha Martin) the Successful Entrepreneur With Great Will Power.

Usha Martin is known for making a wide range of wire rope products, which have applications across the world. The ropes manufactured by Usha Martin serve in some of the most critical applications across diversified industrial segments, which include oil & offshore, cranes, mining, elevators, aerials, fishing, conveyor belts and general engineering. The outbreak of the corona virus pandemic globally and in India has caused significant disturbance and slowdown of economic activities. The outbreak of the corona virus pandemic globally and in India has caused significant disturbance and slowdown of economic activities. Rajeev Jhawar Usha Martin also had faced some serious concerns that too after all the turmoil. The company’s operations and revenue during the period have also been impacted. Usha Martin’s revenues stood at Rs2,130.60 crore in 2020-21, as against Rs2,207.17 crore in 2019-20. The net profit for 2020-21 is Rs150 crore, compared to Rs418 crore in 2019-20.

After making losses for several years,  the sale of the steel division, the company is now in the black. The present performance is an indication of the company’s effort in building a resilient business, capable of performing even in the most adverse conditions. Company's share value during the last one year has gone up from Rs20 to Rs50. Currently, it is hovering at Rs51-52, giving the company a market cap of Rs1,552 crore. The promoters hold 50.87 per cent of UML, while FIIs have 8.18 per cent, DIIs, 0.05 per cent and others, 40.90 per cent. Rajeev and his family hold 30 per cent of the total promoters’ stake, while the balance is with Prashant and family. It is reported that Prashant has been selling his share-holding in the market during the last few quarters. Both Prashant and Rajeev jhawar have refused to make any comment on the family wrangle. “My focus is clearly on the company’s growth and nothing else,” Rajeev says. UML has established markets globally. But the future of the company lies in being able to take full advantage of this massive opportunity. And Usha Martin under Rajeev Jhawar is in the right path.

Usha Martin was founded by Basant Jhawar, a commerce graduate, in 1960, at Ranchi, in collaboration with Martin Black of the UK. He was later joined by his younger brother Brij K Jhawar, a mechanical engineer. The first wire rope reel rolled out of the company in 1962. Its public issue in 1961 was oversubscribed by more than 300 per cent. In 1963, the company paid its maiden dividend and doubled the production from 3,600 tonnes to 7,200 tonnes in just two-and-a-half years. It soon became one of the largest manufacturers of wire ropes in the world and the leading specialty steel manufacturer in India. The steel division was recently sold to Tata Steel’s arm Tata Sponge, which was later renamed Tata Steel Long Products. With a history of over 60 years, the company now has manufacturing bases of wire rope in India, the UK, Dubai and Bangkok. It is also tied up with globally reputed companies like Gustav Wolf of Germany, Joh. Pengg AG of Austria and Tesac Wire Rope of Japan. The ropes manufactured by Usha Martin serve some of the most critical applications across diversified industrial segments, such as oil & off-shore activities, crane operations, mining, elevators, aerial & fishing business, conveyor belts and general engineering.

The group was also one of the pioneers in mobile telephony in the country through its brand Command, which was later sold to Hutch in 2000. Both Basant and Brij have grown the business into a large wire rope conglomerate in the country. Later on, their sons Prashant and Rajeev joined the business. While Prashant was responsible for managing the day-to-day affairs of the company from the corporate office in Kolkata, Rajeev Jhawar was involved in the manufacturing of products. The working arrangement continued till 2000, when Prashant shifted base from India to the UK to grow its international business and start a software business. Rajeev then took charge of the company, which later acquired some wire rope companies in Europe and turned the business profitable. Rajeev Jhawar’s leadership qualities, sharp business acumen, in-depth understanding of business administration and strategic decision making has taken the Group to an altogether higher growth trajectory. He is on the Boards of various corporates including Orient Cement Limited (part of CK Birla group companies) and Neutral Publishing House Limited which has a leading regional newspaper under the flagship title ‘PrabhatKhabar’ published in the Indian cities of Patna, Dhanbad, Ranchi, Jamshedpur & Kolkata. He is also a Director on the boards of Usha Martin’s overseas subsidiaries, i.e Usha Martin International Limited at UK, Usha Siam Industries Public Company Limited at Thailand and Brunton Wire Ropes FZCo at Dubai.