Usha Martin Limited has informed the Exchange about Investor Presentation
Date: 27th April 2023
The Manager National Stock Exchange of India Ltd Exchange Plaza, 5th Floor, Plot No.C/1, G Block, Bandra Kurla Complex, Bandra (E) Mumbai – 400 051 [Scrip Code: USHAMART]
The Secretary BSE Limited Phiroze Jeejeebhoy Towers, Dalal Street Mumbai – 400 001 [Scrip Code: 517146]
Societe de la Bourse de Luxembourg 35A Bouleverd Joseph II L-1840, Luxembourg [Scrip Code: US9173002042]
Dear Sirs,
Sub: Investor Presentation
Pursuant to Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 (as amended), please find enclosed an investor presentation of the Company on the Audited Financial Results of the Company for the quarter and year ended 31st March 2023.
The presentation is also being hosted on the website of the Company i.e. www.ushamartin.com
You are requested to take the same on record.
Yours sincerely, For Usha Martin Limited
Shampa Ghosh Ray Company Secretary
Encl: as above
Specialty Wire Rope Solutions Provider
Q4 & FY23 Earnings Presentation
April 27, 2023
Disclaimer
This presentation and the accompanying slides (the “Presentation”), which have been prepared by Usha Martin Ltd. (the “Company”), have been prepared solely for information purposes and do not constitute any offer, recommendation or invitation to purchase or subscribe for any securities, and shall not form the basis or be relied on in connection with any contract or binding commitment whatsoever. No offering of securities of the Company will be made except by means of a statutory offering document containing detailed information about the Company.
This Presentation has been prepared by the Company based on information and data which the Company considers reliable, but the Company makes no representation or warranty, express or implied, whatsoever, and no reliance shall be placed on, the truth, accuracy, completeness, fairness and reasonableness of the contents of this Presentation. This Presentation may not be all inclusive and may not contain all of the information that you may consider material. Any liability in respect of the contents of, or any omission from, this Presentation is expressly excluded.
Certain matters discussed in this presentation may contains certain forward looking statements concerning the Company’s future business prospects and business profitability. Such forward-looking statements are not guarantees of future performance and are subject to a number of risks and uncertainties that are difficult to predict. These risks and uncertainties include, but are not limited to, the Company’s ability to manage growth, the fluctuations in earnings, competition (both domestic and international), economic growth in India and abroad, ability to attract and retain highly skilled professionals, time and cost over runs on contracts, the Company’s ability to manage its international operations, Government policies and actions regulations, interest and other fiscal costs generally prevailing in the economy. The Company does not undertake to make any announcement in case any of these forward looking statements become materially incorrect in future or update any forward looking statements made from time to time by or on behalf of the Company.
2
Company Overview
3
Leading global and India’s no.1 specialty steel wire rope solutions provider
Rich Legacy Of
~60
years
6
Manufacturing Facilities
Offering wide range of:
Specialty wire ropes
High-quality wires
Low relaxation prestressed concrete
steel strand (LRPC)
Bespoke end-fitments, accessories and
related services
Presence across
6
Continents
~3,100
Worldwide Employees
30+
Distribution Centers
Rs. 3,268 crore
Consolidated Revenue
Note: As on 31st March 2023
4
21.2%
Consolidated ROCE
Rs. 351crore
Consolidated PAT
We are undergoing a strategic transformation and are poised for growth
Turnaround
Consolidation
Growth
• Divestment of steel business
resulting in:
• Sharp deleveraging • Reshaped balance sheet
• Renewed focus on specialty
wire rope business • Strategic initiatives to consolidate leadership
Net debt to equity improved to 0.4x in FY20 from 4.3x in FY19
Significant earnings turnaround: PBT improved to Rs. 346 crore in FY22 from Rs. 149 crore2 in FY20
• Value accretive capex • Enhance specialty offerings across industry segments
• Increase geographical spread in
strategic markets
• Drive sustainable growth
Target to achieve topline CAGR of ~15% & Operating EBITDA margins ~18% over the next 2- 3 years
Note 1: All figures mentioned in the slide are consolidated financials
Note 2: PBT from continuing operations
5
Multi-faceted growth strategy continue to drive our performance
Capex initiatives focused on value-migration
Expand international market share through overseas subsidiaries
Remain financially prudent
Strong focus on digital initiatives
6
Our vision echoes our long-term growth agenda
To be the global leader in the wire rope industry by delivering customer delight, adopting modern technology and ensuring sustainable growth for all of its stakeholders
7
Q4 & FY23 Results Overview
Key Financial Highlights – Consolidated Q4 & FY23
In Rs. crore
Net Revenue from operations
3,268
2,688
Operating EBITDA
Margins
13.9%
15.2%
18.0%
14.3%
15.7% 513
384
767
834
855
107
127
154
Q4 FY22 Q3 FY23 Q4 FY23
FY22
FY23
Q4 FY22 Q3 FY23 Q4 FY23
FY22
FY23
Shift (%)
QoQ: 2.6%
YoY: 11.6%
21.6%
Shift (%)
QoQ: 21.2%
YoY: 44.3%
33.8%
PBT Margins 12.9%
16.6%
13.2%
16.0%
13.9%
455
14.2%
PAT Margins 10.8%
12.3%
10.1%
346
123
110
142
109
84
105
291
10.7%
351
Q4 FY22 Q3 FY23 Q4 FY23
FY22
FY23
Q4 FY22 Q3 FY23 Q4 FY23
FY22
FY23
Shift (%)
QoQ: 29.8%
YoY: 16.1%
31.5%
Shift (%)
QoQ: 25.3%
YoY: (3.1%)
20.3%
Note 1: All figures mentioned in the slide are consolidated financials
Note 3: PBT and PAT for Q4 FY22 and FY22 includes exceptional income of Rs. 31 crore
Note 2: Operating EBITDA & EBITDA Margins calculated without other income
Note 4: PAT for Q4 FY22 and FY22 includes Rs. 20 crore of deferred tax credit
9
Segmental Revenue Overview
Wire Rope
2,194
1,640
Wire & Strand
In Rs. crore
327
339
451
562
598
95
83
79
Q4 FY22
Q3 FY23
Q4 FY23
FY22
FY23
Q4 FY22
Q3 FY23
Q4 FY23
FY22
FY23
Shift (%)
QoQ: 6.4%
YoY: 32.6%
33.8%
Shift (%)
QoQ: (4.8%)
YoY: (16.8%)
3.7%
LRPC
502
494
154
118
105
Q4 FY22
Q3 FY23
Q4 FY23
FY22
FY23
Shift (%)
QoQ: (11.0%)
YoY: (31.8%)
YoY: (1.5%)
Segment wise contribution to overall sales FY23 :
Wire Rope – 67% (PY 61%); Wire & Strand – 10% (PY 12%); LRPC – 15% (PY 19%)
Increase in rope sales in line with the Company’s
strategy to focus on value added products and exit low contributory segments
Note 1: All figures mentioned in the slide are consolidated financials
10
Key Operational Highlights – Consolidated Q4 & FY23
Sales Volumes1 (‘000 MT)
189
192
53
49
47
Q4 FY22
Q3 FY23
Q4 FY23
FY22
FY23
Shift (%)
QoQ: (4.1%)
YoY: (11.3%)
1.5%
Increase in rope volumes and marginal decrease in wire and LRPC volumes in line with the Company’s strategy to focus on value added products and exit low contributory segments
Segment wise contribution to overall volumes FY23 :
Wire Rope – 49% (PY 45%); Wire & Strand – 19% (PY 21%); LRPC – 32% (PY 34%)
Wire Rope Sales Volumes (‘000 MT)
85
93
Wire & Strand Sales Volumes (‘000 MT)
LRPC Sales Volumes (‘000 MT)
39
37
65
62
23
24
25
11
9
9
20
16
14
Q4 FY22 Q3 FY23 Q4 FY23
FY22
FY23
Q4 FY22 Q3 FY23 Q4 FY23
FY22
FY23
Q4 FY22 Q3 FY23 Q4 FY23
FY22
FY23
Shift (%)
QoQ: 4.1%
YoY: 8.6%
9.4%
QoQ: na
YoY: (18.2%)
YoY: (5.1%)
QoQ: (12.5%)
YoY: (30.0%)
YoY: (4.6%)
Note 1: For all product segments Note 2: All figures mentioned in the slide are consolidated volumes
11
Diversified presence across geographies and segments
Revenue Segmentation for FY23
Product
Others, 7%
Wire & Strand, 10%
LRPC, 15%
Wire Rope, 67%
End Industry1 Fishing, 2%
Others, 3%
Mining, 4%
Geography1
America, 8%
Engineering, 25%
Middle East & Africa, 9%
Asia Pacific, 16%
India, 45%
Construction & Infrastructure, 16%
Oil & Offshore, 16%
Europe, 22%
Utilities, 4%
Elevator, 8%
Auto, 8%
Crane, 14%
Wire rope segments contribution to overall revenues increased to 67% in FY23 vs. 61% in FY22
o Within Wire rope, the value-added segments (crane, oil & offshore, elevator, mining, fishing) share rose to 65% in FY23
from 59% in FY22
Share of International business stood higher at 55% in FY23 as against 51% in FY22
Note 1: For all product segments
Note 2: All figures mentioned in the slide are consolidated financials
12
Profitability indicators remain strong
ROCE (%)
19.2%
21.2%
ROE (%) 18.8%
18.8%
12.8%
11.3%
FY21
FY22
FY23
FY21
FY22
FY23
Interest Coverage (x)
Fixed Asset Turnover Ratio (x)
16.0
3.2
3.4
2.4
9.2
4.3
FY21
FY22
FY23
FY21
FY22
FY23
Note 1: All figures mentioned in the slide are consolidated financials
13
Discussion on Financial and Operational Performance
Net Revenues
Revenue from operations increased by 21.6% Y-o-Y in FY23 to Rs. 3,267.8 crore. In Q4FY23, revenues stood at Rs. 855.2 crore, registering a 11.6% Y-o-Y
growth
o The Company reported an increase in revenues on account of improved realizations driven by value-added and solution-based offerings o FY23 topline performance was largely driven by International operations which recorded a 34% Y-o-Y increase
EBITDA
FY23 Operating EBITDA stood at Rs. 513.3 crore as against Rs. 383.7 crore, increasing 33.8% on a Y-o-Y basis. In Q4FY23, Operating EBITDA stood at Rs.
154.0 crore, increasing 44.3% on a Y-o-Y basis
Operating EBITDA margin for the quarter was 18.0% vs. 13.9% Y-o-Y. EBITDA margins including other income stood at 19.3% in Q4FY23 vs. 14.7% Y-o-Y
o Strong focus on value-added products, along with efforts to enhance operational efficiencies and productivity, has enabled the Company to
effectively improve its margin performance
PBT & PAT
FY23 PBT stood at Rs. 455.4 crore vs. Rs. 346.3 crore in FY22 registering a 31.5% Y-o-Y increase
o An exceptional gain of Rs. 31.2 crore was recorded in Q4FY22
FY23 PAT stood at Rs. 350.6 crore as against Rs. 291.4 crore in FY22, registering a 20.3% Y-o-Y increase. In Q4FY23, PAT stood at Rs. 105.3 crore as
against Rs. 108.7 crore
o PAT for Q4FY22 and for FY22 includes an exceptional gain of Rs. 31.2 crore (pre-tax) and deferred tax credit of Rs. 20 crore
Basic EPS stood Rs. 11.51 for FY23 as against Rs. 9.56 in FY22
Note 1: All figures mentioned in the slide are consolidated financials
14
Successfully Managing Raw-Material Volatility
44,112
56,317
Steel Price/tonne (Rs.)
65,530
63,590
59,302
58,040
61,691
FY21
FY22
Q1FY23
Q2FY23
Q3FY23
Q4FY23
FY23
EBITDA/tonne2 (Rs.)
25,608
22,965
25,526
32,063
26,473
15,880
19,624
FY21
FY22
Q1FY23
Q2FY23
Q3FY23
Q4FY23
FY23
Note 1: All figures mentioned in the slide are consolidated financials Note 2: EBITDA calculated without other income & excluding UM Cables
15
PBT Bridge: Q4 & FY23
132
-321
448
346
-150
455
FY22 PBT
Sales Realizations
Sales Volume
Consumption
Others
FY23 PBT
111
-22
-10
-60
123
142
4QFY22 PBT
Sales Realizations
Sales Volume
Consumption
Others
4QFY23 PBT
In Rs. crore
Sales Realizations: Overall
improvement was achieved through enhancements in the product portfolio and increased realizations from solution sales in Europe
Sales Volume: Higher wire rope sales assisted sales volumes performance
Consumption: Increase in
consumption driven by an increase in wire rod consumption rate
Others: The increase was primarily due to higher energy costs and exceptional income recorded in Q4FY22
Note 1: All figures mentioned in the slide are consolidated financials
16
Balance Sheet remains significantly de-risked
Gross Debt
461
355
347
In Rs. crore
Net Debt
342
191
185
FY21
FY22
FY23
FY21
FY22
FY23
Gross Debt to Equity (x)
Net Debt to Equity (x)
0.33
0.21
0.17
0.24
0.11
FY21
FY22
FY23
FY21
FY22
0.09
FY23
Note 1: All figures mentioned in the slide are consolidated financials
17
NWC to turnover steady despite increase in revenue through active rationalization of inventory Continuous focus on optimizing working capital to reduce cash conversion cycle
Current Ratio (x)
Net Working Capital (Rs. Crore)
2.2
2.5
874
1,028
1.7
674
Mar-21
Mar-22
Mar-23
Mar-21
Mar-22
Mar-23
Net Working Capital to Turnover (LTM, %)
30.2%
28.8%
29.1%
Note 1: All figures mentioned in the slide are consolidated financials
18
Mar-21
Mar-22
Mar-23
Management Comment
Commenting on the performance, Mr. Tapas Gangopadhyay, Director said:
“We have ended the year on a strong note, delivering healthy revenue and operating EBITDA growth of 22% and 34%, respectively, during FY23. Our international operations, which made up 55% of our FY23 revenue, registered an exceptional 34% year-on-year increase in revenue. The Company not only made substantial progress in growing its international presence but also made significant strides in other strategic initiatives, including increasing its value-added offerings, expanding its global distribution network, diversifying its product portfolio and modernizing its facilities.
Mr. Tapas Gangopadhyay
Director
The ongoing strategic focus on expanding our presence across diverse critical applications and value- added solution-based offerings largely enabled us to achieve an operating EBITDA margin of 18% during Q4FY23. We are also pleased to report that the Company has made notable progress in the modernization and expansion programme of its production facilities at Ranchi, with a specific focus on value-added products such as mining ropes, non-rotating ropes, compacted ropes and plasticated ropes.
Looking ahead, we believe that Usha Martin has all the elements in place to capitalize on the increasing demand for its products, both in international and domestic markets. Our robust in-house manufacturing and R&D capabilities, strong brand recognition, diverse product portfolio, expansive global network and healthy balance sheet continue to position us well for growth. We are confident in our ability to leverage these strengths and remain committed to delivering value to our customers and stakeholders."
19
Annexure
20
Abridged Consolidated P&L Statement
Revenue from Operations
Operating EBITDA
Operating EBITDA Margin (%)
4QFY23
4QFY22
855.2
154.0
18.0%
766.6
106.7
13.9%
Operating EBITDA / ton^
32,063
19,331
Other Income
EBITDA
EBITDA Margin (%)
Depreciation
Finance Costs
Share of profit(-) /loss(+) of joint ventures
PBT
PBT Margin (%)
Exceptional item
PBT after exceptional income
Tax
PAT
21
PAT Margin (%)
Basic EPS (in INR)
11.3
165.3
19.3%
17.2
8.0
-2.1
142.3
16.6%
-
142.3
36.9
105.3
12.3%
3.46*
6.2
112.9
14.7%
17.3
7.2
-3.0
91.3
11.9%
31.2
122.5
13.8
108.7
14.2%
3.57*
Y-o-Y Change (%) 11.6%
44.3%
4.1 pps
65.9%
83.6%
46.4%
4.6 pps
-0.8%
10.1%
30.2%
55.8%
4.7 pps
16.1%
167.5%
-3.1%
-1.9 pps
-3.1%
3QFY23
833.6
127.0
15.2%
25,526
4.4
131.4
15.8%
17.0
7.6
-2.9
109.6
13.2%
-
109.6
25.6
84.1
10.1%
2.76*
Q-o-Q Change (%) 2.6%
FY23
FY22
3,267.8
2,688.1
In Rs. crore
Y-o-Y Change (%) 21.6%
21.2%
2.8 pps
25.6%
157.5%
25.8%
3.6 pps
0.9%
4.1%
28.7%
29.8%
3.5 pps
29.8%
44.4%
25.3%
2.2 pps
25.3%
513.3
15.7%
26,473
28.1
541.4
16.6%
67.5
30.3
-11.7
455.4
13.9%
-
455.4
104.8
350.6
10.7%
11.51
383.7
14.3%
19,624
35.2
418.9
15.6%
69.8
42.5
-8.4
315.1
11.7%
31.2
346.3
54.9
291.4
10.8%
9.56
33.8%
1.4 pps
34.9%
-20.4%
29.2%
1 pps
-3.3%
-28.7%
-39.8%
44.5%
2.2 pps
31.5%
91.0%
20.3%
-0.1 pps
20.3%
^ Excluding UM Cables *EPS is not annualized
21
Q-o-Q Change (%) 3.1%
FY23
FY22
2,041.7
1,810.1
In Rs. crore
Y-o-Y Change (%) 12.8%
Abridged Standalone P&L Statement
Revenue from Operations
Operating EBITDA
Operating EBITDA Margin (%)
Operating EBITDA / ton
Other Income
EBITDA
EBITDA Margin (%)
Depreciation
Finance Costs
PBT
PBT Margin (%)
Exceptional item
PBT after exceptional income
Tax
PAT
22
PAT Margin (%)
Basic EPS (in INR)
*EPS is not annualized
4QFY23
4QFY22
511.2
83.5
16.3%
514.7
72.5
14.1%
21,277
16,386
11.7
95.2
18.6%
6.5
3.7
85.0
16.6%
-
85.0
21.9
63.1
12.3%
2.07*
5.7
78.2
15.2%
7.7
4.9
65.5
12.7%
31.2
96.7
4.0
92.7
18.0%
3.05*
Y-o-Y Change (%) -0.7%
15.2%
2.3 pps
29.8%
104.9%
21.8%
3.4 pps
-15.2%
-25.8%
29.7%
3.9 pps
-
-12.1%
453.3%
-32.0%
-5.7 pps
-32.2%
3QFY23
496.1
75.8
15.3%
19,027
3.9
79.7
16.1%
6.5
3.4
69.7
14.1%
10.2%
1.1 pps
11.8%
199.7%
19.4%
2.6 pps
0.0%
6.7%
21.9%
2.6 pps
298.0
14.6%
18,705
30.7
328.7
16.1%
26.5
15.0
287.2
14.1%
-
-
-
69.7
17.8
51.9
10.5%
1.70*
21.9%
22.8%
21.5%
1.9 pps
21.5%
287.2
73.5
213.7
10.5%
7.01
251.3
13.9%
16,061
33.5
284.8
15.7%
31.4
31.2
222.3
12.3%
31.2
253.4
42.1
211.3
11.7%
6.94
18.6%
0.7 pps
16.5%
-8.5%
15.4%
0.4 pps
-15.5%
-51.9%
29.2%
1.8 pps
-
13.3%
74.5%
1.1%
-1.2 pps
1.1%
22
Key Financial Highlights – Standalone Q4 & FY23
Net Revenue from operations
Domestic
Export
Operating EBITDA
Margins
In Rs. crore
1,810
562
2,042
667
1,248
1,375
14.1%
15.3%
16.3%
13.9%
14.6%
72
76
84
251
298
515 147
368
496 148 348
511
173 338
Q4 FY22
Q3 FY23
Q4 FY23
FY22
FY23
Q4 FY22
Q3 FY23
Q4 FY23
FY22
FY23
Shift (%)
QoQ: 3.1%↑
YoY : (0.7%)↓
YoY: 12.8%↑
QoQ: 10.2%↑
YoY: 15.2%↑
YoY: 18.6%↑
PBT
Margins
18.8%
14.1%
14.0%
14.1%
16.6%
97
70
85
253
287
PAT Margins
18.0%
12.3%
10.5%
93
52
63
11.7%
211
10.5%
214
Q4 FY22
Q3 FY23
Q4 FY23
FY22
FY23
Q4 FY22
Q3 FY23
Q4 FY23
FY22
FY23
Shift (%)
QoQ: 21.9%↑
YoY : (12.1%)↓
YoY: 13.3%↑
QoQ: 21.5%↑
YoY: (32.0%)↓
YoY: 1.1%↑
Note 1: All figures mentioned in the slide are standalone financials
Note 3: PBT and PAT for Q4 FY22 and FY22 includes exceptional income of Rs. 31 crore
Note 2: Operating EBITDA & EBITDA Margins calculated without other income
Note 4: PAT for Q4 FY22 and FY22 includes Rs. 20 crore of deferred tax credit
23
Key Operational Highlights – Standalone Q4 & FY23
( in ‘000 MT )
Sales Volumes1(‘000 MT)
Domestic
Export
44 17 27
40 16 24
39 17 22
157
38
119
159
38
121
Q4 FY22
Q3 FY23
Q4 FY23
FY22
FY23
Shift (%)
QoQ: (2.5%)↓
YoY: (11.4%)↓
YoY: 1.2%↑
Increase in rope volumes especially exports and marginal
decrease in LRPC volumes in line with the company’s strategy to focus on international markets, value added products and exit low contributory segments
Segment wise contribution to overall volumes FY23 : Wire Rope – 43% (PY 40%); Wire & Strand – 19% (PY 19%); LRPC – 38% (PY 41%)
Share of rope exports increased to 32 KMT during FY23 from 29
KMT during FY22
Wire Rope Sales Volumes (‘000 MT)
Domestic
Export 62
17 8 10
16 7 10
18 8 10
29
34
68
32
36
Wire & Strand Sales Volumes (‘000 MT)
Domestic
Export
LRPC Sales Volumes (‘000 MT)
Domestic
Export
29
5
30
4
25
25
65 5
62 2
60
60
19
18
16
15
14
13
8
7
8
7
8
6
Q4 FY22
Q3 FY23
Q4 FY23
FY22
FY23
Q4 FY22 Q3 FY23 Q4 FY23
FY22
FY23
Q4 FY22 Q3 FY23 Q4 FY23
FY22
FY23
Shift (%)
QoQ: 12.5%↑
YoY: 5.8%↑
YoY: 9.6%↑
QoQ: na
YoY: na
YoY: 3.4%↑
QoQ: (12.5%)↓
YoY: (26.3%)↓
YoY: (4.6%)↓
Note 1: For all product segments Note 2: All figures mentioned in the slide are standalone volumes
24
Long term issuer rating at ‘IND A’ / Outlook : Positive Short term issuer rating at ‘IND A1’
A+
A
A-
BBB+
BBB
BBB-
BB+
BB
BB-
FY'18
FY'19
FY'20
FY'21
FY'22
Aug'22
Current Rating A
Outlook
Positive
Last Review
Aug’22
25
Market snapshot
Key Market Statistics
As on 31st March 2023
BSE/NSE Ticker
517146 / USHAMART
CMP (Rs)
Market Cap (Rs Crore)
Number of outstanding shares (Crore)
Face Value
214.5
6,537
30.47
1.00
52-week High / Low (Rs)
216.3 / 105.0
Shareholding pattern as on 31st March 2023
Public
29.4%
Corporate Bodies
13.7%
FPI
9.4%
Promoters
47.5%
26
Concall details
Usha Martin Ltd. Q4 & FY2023 Earnings Conference Call
Time: May 3, 2023 at 2.00 PM IST
To enable participants to connect to the conference call without having to wait for an operator, please register at the below mentioned link:
Pre-registration
You will receive dial in numbers, passcode and a pin for the concall on the registered email address provided by you. Kindly dial into the call on the Conference Call date and use the passcode & pin to connect to call
Conference dial-in Primary Number: +91 22 6280 1141 / +91 22 7115 8042
International Toll Free Number:
Hong Kong: 800 964 448 Singapore: 800 101 2045 UK: 0 808 101 1573 USA: 1 866 746 2133
27
Contact us
About Us:
Established in the year 1960, Usha Martin is a leading global and India’s No. 1 specialty steel wire rope solutions provider. The Company is also engaged in the manufacturing of high-quality wires, low relaxation prestressed concrete steel strand (LRPC), bespoke end-fitments, accessories and related services.
Usha Martin’s wire rope manufacturing facilities in Ranchi, Hoshiarpur, Dubai, Bangkok and UK produce the widest range of wire ropes that find application in various industries across the world. All of the company’s facilities are equipped with the latest to manufacture world-class products.
state-of-the-art high-capacity machines
Usha Martin’s global R&D center located in Italy is actively engaged in designing of wire ropes and uses proprietary design software to develop products that are the best in class. The Company also has an extensive and dedicated network of distribution centers located across the globe.
Mr. Anirban Sanyal (Chief Financial Officer) / Mr. Anil Kumar (Secretary to CFO)
Usha Martin Limited
Tel: +033 – 71006 511 / 403
Email: investor@ushamartin.co.in
Anoop Poojari / Devrishi Singh
CDR India
Tel: +91 98330 90434/ + 91 98205 30918
Email: anoop@cdr-india.com
devrishi@cdr-india.com
Corporate Identification No: L31400WB1986PLC091621
Regd. Office: 2A, Shakespeare Sarani, Kolkata – 700 071, India
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