Government of India’s fiscal measures will bring the economy back to a sustainable positive terrain – Rajeev Jhawar Usha Martin

Rajeev Jhawar Usha Martin, and Indian Industrialist and son of Brij Kishore Jhawar is the Managing Director of Usha Martin Limited. He is an aluminous of Ranchi University and London Business School. He started his journey as the vice president (commercial) and became the Managing Director of the company in 1998. In the three decades that he has been at the helm of the group, he has accelerated growth, built a meritocracy and enhanced stakeholder value. His leadership qualities, sharp business acumen, in depth understanding of business administration and strategic decision making has taken the group do an altogether higher growth trajectory.

Rajeev Jhawar Usha Martin

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 and Kolkata. He is also a director on the boards of Usha Martins Overseas subsidiaries that is Usha Martin International Limited at UK, Usha Siam Industries public company limited at Thailand and Brendon Wire Ropes FZCo at Dubai.

UML’s wire rope business manufactures wire, strands, LRPC and wire ropes, which cater to various industries, including steel, infrastructure, construction and auto. Rajeev Jhawar expects that the domestic market will see a spurt in demand once the contagion is contained and business returns to normalcy, as overall economic activity in India is likely to register a sharp growth in the wake of strong global backlash against goods manufactured in China.

According to Rajeev Jhawar, “The various measures announced by the Central government to boost the economy are likely to start yielding results post-monsoon”. He expects that additional infusion of government funds in the infrastructure sector is also likely to push up demand for LRPC strands in the domestic market segment. Conveyor cords market segment in the domestic market is likely to remain strong in the current fiscal, Rajeev Jhawar hopes. Usha Martin Limited expects the Indian economy to rebound on the back of pent-up demand across sectors. Rajeev Jhawar, Managing Director of Usha Martin Limited anticipates that Reserve Bank of India’s (RBI) monetary stimulus and the Government of India’s fiscal measures will bring the economy back to a sustainable positive terrain. He believes that the substantial budgetary outlay on infrastructure by Government of India will augur well for their business.

Usha Martin Limited 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. The company recorded a consolidated revenue of Rs. 2,097.28 crore, compared to Rs. 2,153.82 crore in FY19-20. UML’s consolidated EBITDA stood at Rs. 312.56 crore in FY20-21 compared to Rs. 284.96 crore in the previous year. Despite the shrinkage in revenue, there was a marked improvement in the EBITDA margin from 13.23% to 14.90%. During the year, Usha Martin Limited had adequate working capital and liquidity, which ensured that their operations went on smoothly.