Shares Homepage - BSE Sensex, NSE Nifty, Latest Prices, Live News, Company Search, Result Annoucements, Company News, Top stories, Gainers Losers, Top Performers, Market Commentary, Live Quotes, Bulk Deals
India's preferred Personal finance destination
Home Shares News Centre F&O Mutual Funds IPO Portfolio Commodity Loans Financial Planning Insurance About Us
Markets Companies Research Industries E-Mail Page
Wealth Tracker      Tax Corner NRI Centre Chat Masala Feedback
my Last 5 Scrips
Company BSE Price(Rs) % Chg
Kotak Ba 1333.35 6.73
Tata Mot 96.30 7.48
State Ba 169.60 0.26
Indusind 427.65 4.29
Icici Ba 344.75 1.70
Clear All Clear Last
NSE Live
Nifty Live Prices
Live Quotes
Top Gainers/Losers
Top 10 Turnover
No Delivery Stocks
BSE Live
BSE30 Live Prices
Live Quotes
Top Gainers/Losers
Top 10 Turnover
No Delivery Stocks
Market Pulse
FII Activity
Mutual Fund Activity
Results Watch
Results Calendar
Results Announced
IPO Watch
Recent News
Broker Research
Research Tutorial
Discussion Forum
Research Reports
Sector Watch
Economy Watch
Usha Martin Limited
Sector:Engineering Engineering - Telecom Cables
Market Lot: 1Face Value: 1ISIN Demat: INE228A01035
QuotesSnapshotChartsFinancialsResearchRecent News
Peer GroupAGM/AMMF HoldingDiscussion ForumBSE/NSE NoticesBSE/NSE Deals

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.

The company disclosed fall of 179.12% in consolidated net profit on y-o-y basis to Rs 992.00 million, while total income dropped 5.29% y-o-y basis to Rs 10.24 billion for the quarter ended September 2015.

Recent Developments
Usha Martin said its net loss for the quarter ended March 2015 has widened to Rs 1,298.20 million on consolidated basis. It reported a net loss of Rs 94.30 million in the same quarter last year.

India Ratings & Research (Ind-Ra) has downgraded Usha Martin (UML) long-term issuer rating to 'A' from 'A+' and simultaneously placed it on Rating Watch Negative (RWN).

Usha Martin said that the board of directors of the company at its meeting, has resolved to raise funds by way of a rights issue of equity shares. these shares are of face value

India Ratings & Research (Ind-Ra) has assigned Usha Martin (UML) additional Rs 7,000 million term loan a long-term 'A+' rating.

Gross debt levels increased to Rs 41,494 million by end-H1FY14 due to a cost overrun of Rs 2,750 million and a time overrun of around nine months in some projects due to a change of the scope of project. Also, there was capitalization of a mark-to-market loss on foreign currency

Usha Martin, engaged in the manufacture of specialty steel and value-added steel products, signed a technical assistance agreement with Aichi Steel Corporation (ASC), leading specialty steel and forging company Japan.

Usha Martin is engaged in the manufacture of specialty steel and value-added steel products, has today announced that Usha Siam Steel Industries Public Company, a subsidiary of the Company in Thailand has formed a 50:50 joint venture in Thailand with TESAC Wire Ropes.

India Ratings has affirmed Usha Martin (UML) Long-Term Issuer rating at ???A+??? and revised the rating Outlook to Negative from Stable. The agency has also withdrawn the ???A1+??? Short-Term rating on UML???s non-fund-based limits. A list of additional rating actions is provided at the end of this commentary.

Future Plans
The company is planning to sell special quality wire ropes for elevators, mining and the construction sector in China. Meanwhile, the company is planning to invest Rs 21 billion to ramp up its capacity, develop a coal mine, besides setting up a bright bar plant and a power plant. It also wants to create infrastructure in its captive mines.

The company would increase its speciality steel capacity to one million tons in the next three years. A plant would be commissioned at Chennai in one-and-a-half year`s time to produce bright bars required for manufacturing auto components with a capacity of 30,000 tons per annum.

The company in November 2007 decided to sell the entire equity in its subsidiary company UM Cables to the Manchester-based B3 Cable Solutions. An MOU to this effect is signed, subject to due diligence and necessary approvals.

In Brief

Home | Shares | F&O | Mutual Funds | Loans | Insurance | News Centre
Wealth Tracker | Tax Corner | NRI Centre | Search in myiris | Advertise
All rights reserved. IRIS Business Services Limited