Usha Martin Limited is a leading producer of speciality steel and one of the largest wire rope manufacturers globally. The company is an Indian multinational 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. With continuous growth in both the domestic and international markets, Usha Martin has emerged as India's largest and the world's second largest steel wire rope manufacturer.
The Company has 6 manufacturing facilities located in Ranchi, Hoshiarpar, Silvassa, Dubai, Bangkok and the United Kingdom, as well as overseas manufacturing operations in Thailand, United Kingdom, United States and Dubai. Usha Martin has 4,859 total employees. The company has grown from a small wire rope manufacturing unit to become a global conglomerate with significant presence across multiple continents.
Usha Martin Ltd is primarily engaged in manufacture and sale of steel wires, strands, wire ropes, cords, related accessories, etc. It is also involved in sale of other products such as wire drawing and allied machines. The company offers a range of specialty wire ropes, high-quality wires, low relaxation prestressed concrete steel strands (LRPC), bespoke end-fitments, accessories, and related services. It also manufactures jelly-filled and optical fiber telecommunication cables.
The company's diverse product range serves multiple industries with specific applications. It caters to various industries such as oil and gas, mining, construction, infrastructure, elevators, and general engineering. The company offers spring steel, CO2 welding, detonator, mattress, cold heading quality, auto spoke, brush, needle, and cycle spoke wires; and LRPC strands, such as compacted, indented, and bonded and un-bonded polymer coated galvanized LRPC strands. Additionally, it provides optical fiber, aerial cables, micro ducts, hybrid category, FTTH/drop, aerial copper, duct copper, and jelly filled copper cables.
As of April 2019, the Company had a steel making capacity of nearly 1 million tons and a wire ropes capacity of 2,59,320MT. The company has made significant investments in expanding its manufacturing infrastructure over the years. The Company has invested in many projects such as setting up of blast furnace, iron ore mining, captive power plants, 30 MW thermal power plant, third smelting shop, bloom mill, etc.
The Jamshedpur unit has a truly integrated speciality steel manufacturing facility of 700,000 MT per annum. This integrated approach ensures steady supply of raw materials and better control over quality standards. The company's manufacturing strategy focuses on vertical integration, which helps maintain cost efficiency and quality control across its product range.
Revenue: ₹896.08Cr as on March 2025 (Q4 FY25) Net Profit: ₹100.91Cr as on March 2025 (Q4 FY25) For the full year, net profit declined 3.91% to Rs 407.39 crore in the year ended March 2025 as against Rs 423.96 crore during the previous year ended March 2024. Sales rose 7.72% to Rs 3474.16 crore in the year ended March 2025 as against Rs 3225.20 crore during the previous year ended March 2024.
- Q4 FY25 Performance: Net profit declined 4.96% to Rs 100.99 crore in the quarter ended March 2025 as against Rs 106.26 crore during the previous quarter ended March 2024. Sales rose 8.09% to Rs 896.08 crore in the quarter ended March 2025 as against Rs 829.03 crore during the previous quarter ended March 2024.
- FY24 Full Year: For the year ended 2024, Usha Martin Ltd had posted a profit of Rs 424.12 crore on a total income of Rs 3,225.20 crore.
- Market Capitalization: Market Cap ₹ 11,324 Cr. as reported by Screener, while Usha Martin Ltd has a market capitalisation of Rs 9,318 crore. as per Business Standard data.
Chairperson Name: Vijay Singh Bapna 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 companies including Aditya Birla Group, Essar Group, Ispat Steel, Reliance Petroleum, Vedanta Limited, Indorama Ventures 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.
Promoter holding in Usha Martin Ltd has gone down to 43.22 per cent as of Mar 2025 from 44.42 per cent as of Jun 2024. Promoter holding has decreased over last 3 years: -5.33% This indicates some dilution in promoter shareholding over recent years.
Usha Martin received an independent ESG rating of 53 for FY 2023-24 from NSE Sustainability Ratings. 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.
Usha Martin started in 1961 in Ranchi, Jharkhand as a wire rope manufacturing company, today the Usha Martin Group is a $1 billion conglomerate with a global presence. The group has set new standards in the manufacture of wire rods, bright bars, steel wires, speciality wires, wire ropes, strand, conveyor cord, wire drawing and cable machinery.
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.
The company serves diverse sectors including infrastructure development, mining operations, oil and gas exploration, and renewable energy projects. 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.
On June 24, 2025, Usha Martin Ltd experienced a notable increase in trading volume, with a 5.4 times surge on BSE and a 7.13% rise in stock price. The company continues to attract investor attention with its established market position and global operations.
Usha Martin announced that its wholly owned subsidiary in America, Usha Martin Americas Inc. (UMAI) has completed the acquisition of 2.02% stake in Usha Siam Steel Industries Public Company (USSIL), a subsidiary of the Company from Kobelco Wire Company.
Usha Martin Limited stands as a testament to successful transformation from a small wire rope manufacturer to a global specialty steel conglomerate. With its diversified product portfolio, integrated manufacturing capabilities, and strong market position, the company continues to play a significant role in India's industrial landscape while maintaining its competitive edge in global markets.
