Usha Martin Ltd

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NSEBSE

316.00-0.55 (-0.17%)

03:51 PM,8th Dec 2023

316.00-0.75 (-0.24%)

04:01 PM,8th Dec 2023

BSE : 517146

NSE : USHAMART

Sector : Metals & Mining

ISIN Code : INE228A01035

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Last Updated: Dec 08 2023 | 04:01 PM IST

Market Cap (₹ Cr)

9628

Turnover (₹ Cr)

0.64

Volume (Shares)

203271

Face Value

1

52-WK High

374.00

52-WK High Date

12 Sep 2023

52-WK Low

130.00

52-WK Low Date

12 Dec 2022

All Time High

374.00

All Time High Date

12 Sep 2023

All Time Low

3.55

All Time Low Date

01 Dec 1997

Usha Martin Ltd

Usha Martin Ltd is a leading producer of speciality steel and one of the largest wire rope manufacturers globally. The Company is engaged in the business of Wire and Wire ropes - Manufacture and sale of steel wires strands wire ropes cord related accessorieswire drawing and allied machine etc. They are having six manufacturing facilities in Ranchi Hoshiarpur Silvassa Dubai Bangkok and the United Kingdom. They are also having their overseas manufacturing operations in Thailand United Kingdom United States and Dubai. The company operates in three manufacturing divisions namely steel wire ropes and others. The steel division manufactures steel wire rods rolled products billets pig iron and allied products. The wire and wire ropes division manufactures steel wires strands wire ropes cord bright bar related accessories. The company's other division manufactures wire drawing and allied machineries jelly filled telecommunication cables. Usha Martin Ltd was incorporated in the year 1986 as Usha Beltron Ltd. The company was jointly promoted by Usha Martin Industries Ltd and the Bihar State Electronic Development Corporation. The company manufactured Jelly Filled Telephone Cables in collaboration with AEG Kabel of Germany. In the year 1994 the company established Usha Martin Europe Ltd as a subsidiary in joint venture with Exim Bank of India to create worldwide marketing and distribution set up for export of wire ropes.In the year 1995 the company commissioned mini blast furnace at Jamshedpur to reduce cost and improve productivity. In the year 1996 they commissioned a new state of the art Wire Rod Mill at Jamshedpur to produce higher weight coils for better productivity. Usha Martin Industries Ltd merged with company with effect from October 1 1997. The shareholders of Usha Martin Industries Ltd were allotted one equity share of the company in respect of every three shares of Usha Martin Industries Ltd held by them. In the year 2000 the company's IT division was de-merged into a new company named as Usha Martin Infotech Ltd. The company established UM Cables Ltd as their wholly owned subsidiary to set up a green field JFTC and OFC plant at Silvassa. They commissioned 25 MW thermal power plant at Jamshedpur for captive consumption during the year. During the year the company acquired a majority stake in Usha Siam Steel Industries Public Ltd Company Bangkok which is engaged in manufacture of wire ropes. Also they acquired 80% stake in Brunton Shaw Ltd UK from Carclo Group. In the year 2001 the company established Usha Martin Singapore (Pty) Ltd as their wholly owned subsidiary for setting up a distribution center at Singapore for wire ropes. Also they commissioned second SMS at Jamshedpur to enhance capacity to 350000 TPA.In the year 2003 the company disposed off their Rolling Mill Division at Agra for focusing on core business. Also Brunton Wolf Wire Ropes FZ Co Middle East Dubai a joint venture between Usha Martin International Ltd and Gustav Wolf of West Germany commenced their commercial production with production capacity of 6000 MT per annum. The name of Usha Beltron Ltd was changed to Usha Martin Ltd with effect from May 1 2003.During the year 2003-04 the company acquired the balance equity share of their subsidiary company Usha Martin International Ltd from Export Import Bank of India. Thus Usha Martin International Ltd became a wholly owned subsidiary company. During the year 2004-05 the company commissioned DRI and WHRB power plant at their steel division in Jamshedpur. During the year 2005-06 the company commenced iron ore mining activities in State of Jharkhand. Usha Martin Holdings Ltd a wholly owned subsidiary of the company was merged with the company with effect from April 1 2005. Also the company acquired wire and wire rope division of JCT Ltd in Punjab. This division named as Wire & Wire Rope Division (North) commenced their operations on June 1 2005. The subsidiaries of Usha Martin International Ltd namely Usha Martin Americas Inc Brunton Wolf Wire Ropes FZCO and UMICOR Africa Pty Ltd became the direct subsidiaries of the company with effect from October 1 2005.During the year 2006-07 the company made a joint venture agreement with Pengg AG of Austria and formed Pengg Usha Martin Wires Pvt Ltd for manufacturing Oil Tempered and other type of speciality wires at Ranchi. The company holds 40% stake in this venture while the balance is being held by Pengg AG Austria. Also they made a joint venture with CCL group of UK and formed CCL Usha Martin Stressing Systems Ltd for dealing in post tensioning in building and other civic work. The company holds 50% stake in this venture. In December 2006 the company acquired a steel rolling plant in Agra with an annual capacity of 72000 tonnes and was renamed as Construction Steel Division.During the year 2007-08 the company purchased equity shares of Brunton Shaw Americas Inc from Usha Martin International Ltd and thus Brunton Shaw Americas Inc became the direct wholly owned subsidiary of the company. Also the wire rope manufacturing plant set up by Brunton Shaw Americas Inc started their commercial production. Also Usha Martin International Ltd a wholly owned subsidiary of the company acquired De Ruiter Staalkabel BV a company incorporated in Netherlands.The projects of company which is under implementation include setting up of second mini blast furnace/sinter plant 75 MW captive power plants third steel melt shop which consists of electric arc furnace ladle furnace and vacuum degassing bloom caster 700 TPD DRI plants railway sidings coal mining enrichment of mineral resources etc. In this coal mine DRI plants third SMS 30 MW captive power plant bloom mill and bright bar plant at Chennai are expected to get commissioned during the financial year 2008-09.In June 2008 the company signed a joint venture agreement with BHP Billiton Ltd to set up a joint venture company Bharat Minex Pvt Ltd to jointly explore for minerals in the state of Jharkhand in India.During year 2008-09 Usha Martin Vietnam Company Limited (UMVCL) a company incorporated in Vietnam was formed as wholly owned subsidiary of Usha Martin Singapore Pte. Limited a wholly owned subsidiary of the Company. Also Usha Martin Power & Resources Limited (UMPRL) was formed as a wholly owned subsidiary of the Company. Brunton Shaw Americas Inc a wholly owned subsidiary of the Company merged with Usha Martin Americas Inc another wholly subsidiary of the Company w.e.f. 1st April 2009.The Company started operations at coal mine during year 2009-10. Usha Martin Singapore Pte. Limited [UMSPL] a wholly ownedsubsidiary of the Company constructed about 70000 sq. ft. space to accommodate warehousing facilities which became operational in April 2010. P. T. Usha Martin Indonesia a Company incorporated in Indonesia was formed as wholly owned subsidiary of UMSPL. Bharat Minex Private Limited was made a wholly owned subsidiary of the Company after buying out 50% equity stake earlier held by joint venture partner namely BHP Minerals Holding Pty Ltd.During 2009-10 the Company issued and allotted 54500000 equity shares of Re. 1 each at a price of Rs. 85.90 per equity share aggregating to Rs. 468.15 cr to qualified institutional buyers. It installed a 30 MW power plant in Jamshedpur for captive consumption commissioned two new DRI plants (combined capacity 0.2 lac tonnes); commissioned a new 0.6 mtpa Steel Melt Shop III (SMS III) established a blooming mill (capacity 0.275 mtpa) increasing the focus on larger and heavier steel products (upto 150 mm diameter) used by the commercial vehicles segment commissioned balancing facilities-modernisation of coal handling units and a third internal line in Jamshedpur-to support capacity expansion and commissioned non coking coal mine to produce B-grade coal (5700 cal) used in power and DRI plants.Major capex projects including a new Blast Furnace and a sinter plant was completed in FY 10-11. Sinter plant which commissioned in September 2010 achieved 80% capacity utilization in the first full year of operation commissioned Hot Blast Stoves in Blast Furnace 1commissioned Bar Mill at Agra to produce speciality steel Bars in 2011-12.30 MW CPP Char Beneficiation DRI-V 100 TPD Lime Kiln Beneficiation Plant Phase-1 EBNER annealing furnace and Fume Exhaust System of SMS-2 were major projects commissioned during the financial year 2012- 13. The Company commissioned key cost optimization projects namely coke oven plant ore beneficiation and pellet plant DRI IV 35 MW Captive power plant etc. in 2013-14.During 2015 Gustav Wolf Specialty Cords Limited a Joint Venture of the Company and Usha Martin Power & Resources Limited a subsidiary of the Company were converted into wholly owned subsidiary of the Company. However during 2015 the Hon'ble Supreme Court of India passed Order relating to deallocation of two coal mines of the Company Kathautia and Lohari Coal blocks. of which the Kathautia Coal Block was in operation upto March 2015.During 2016-17 the Company divested 50% shareholding in Dove Airlines Private Limited (DAPL) and subsequently DAPL ceased to be a joint venture of the Company in August 2016.As on 31st March 2019 the Company had a steel making capacity of nearly 1 million tons and wire ropes capacity of 259320 MT. TheCompany made alloy steel long products like wire rods bars blooms and bright bars mostly for commercial vehicles and tractors.During 2019-20 a business transfer agreement was executed with Tata Sponge Iron Limited (TSIL) for transfer of the Steel Business Undertaking (comprising steel manufacturing facility an operative iron ore mine coal mine under development captive power plants plant & machinery of straight bar facility) of the Company by way of slump sale on going concern basis which was completed on 9th April 2019.

Usha Martin Ltd - Key Fundamentals

PARAMETER VALUES
Market Cap (₹ Cr)

9628

EPS - TTM (₹) [S]

9.34

P/E Ratio (X) [S]

8.23

Face Value (₹) 1
Latest Dividend (%)250.00
Latest Dividend Date 03 Aug 2023
Dividend Yield (%) 0.79
Book Value Share (₹) [S]38.38
P/B Ratio (₹) [S]8.23
[*C] Consolidated [*S] Standalone

Funds Owing this Stock

Scheme Name Amount Invested ( ₹ Cr ) No Of Shares Net Asset (%)
Groww Nifty Total Market Index Fund-Regular (G) 0.01 408 0.04
Groww Nifty Total Market Index Fund-Direct (G) 0.01 408 0.04

Research Reports

Date BrokerActionPrices(Rs)Report
Data Not Found

Stock Strength

Today's Low/High

314.40

323.90

Week Low/High

314.40

340.00

Month Low/High

303.75

340.00

Year Low/High

130.00

374.00

All time Low/High

1.40

374.00

Share Price Returns

Period BSENSE SENSEXNIFTY
1 Week-3.82%-3.92%3.473.46%
1 Month1.95%1.90%7.467.85%
3 Month-11.32%-11.36%4.845.80%
6 Month24.12%24.14%11.1012.53%
1 Year133.30%133.99%11.5912.68%
3 Year1144.09%1144.09%53.1056.57%

Company Info

Company Information

Managing Director : R Jhawar

Company Sec. & Compli. Officer : Shampa Ghosh Ray

Non-Exec. & Independent Dir. : Ramni Nirula

Independent Director : Venkatachalam Ramakrishna Iyer

Independent Director : S Ravi

Chairman & Independent Directo : Vijay Singh Bapna

Whole-time Director : Sumit Kumar Modak

Non Executive Director : Tapas Gangopadhyay

Registered Office: 2A Shakespeare Sarani, ,Kolkata,West Bengal-700071 Ph: 91-33-39800300

Email:investor@ushamartin.co.in

URL:http://www.ushamartin.com