Usha Martin Ltd
NSE: USHAMART BSE: 517146
₹418.40
(-1.70%)
Wed, 11 Mar 2026, 04:49 am
Market Cap127.52B
PE Ratio30.40
Dividend0.72
Producer Manufacturing
Metal Fabrication
24.5KCompany History
1986
- Incorporated on 22 May; obtained Certificate of Commencement on 17 July.
- Promoted jointly by Usha Martin Industries Ltd. and Bihar State Electronic Development Corporation Ltd.
- Undertook project for 5,00,000 CKM per annum jelly filled cables.
- Entered technical collaboration with AEG Kabel, West Germany, for know-how and training.
1988
- Developed PCM system cable for digital signals and supplied up to 1600 pairs; first foam skin cable 1800 x 0.4 in India.
- Issued 70,99,930 shares at par: 16,96,930 to UMI group, 18,46,000 to BSEDC, 10,72,000 to AEG-Kabel, 7,10,000 to DEG; public subscription of 14,20,200 shares in April (all taken).
1989
- Offered 14,20,000 rights equity shares (1:5) in May/June (all taken).
- Offered 71,000 equity shares to employees (5,200 taken; 65,800 lapsed).
1994
- Issued 10,00,000 equity shares of Rs 10 at Rs 169 premium to promoters.
- Issued 32,71,028 GDRs in October at Rs 335.66 per share.
- Usha Martin Telekom Ltd. (JV with UMI and Telekom Malaysia) provided cellular services in Calcutta as COMMAND.
1996
- Monitored power sector developments.
- Summit Usha Martin Finance Corporation became 50:50 JV with Sumitomo Corporation, Japan.
- Joint ventures include Usha Siam Steel Industries Ltd., Usha Martin Europe Ltd., and Usha Martin Americas Inc.
1997
- Decided to spin off Software Division into subsidiary.
- Merged with Usha Martin Industries Ltd., becoming multi-divisional (pig iron, steel wires/rods, wire ropes, jelly-filled cables).
- Issued 11,477,334 equity shares to UMI shareholders; cancelled 13,56,200 UMI-held shares.
- Ubest signed agreement with Swiss Telecom PTT for SICAP software.
1998
- CRISIL downgraded ratings and removed from rating watch.
- Planned expansion into telecommunications services, networks, and JVs.
- Set to change name to Usha Martin Ltd.
- Initiated restructuring of international marketing and distribution.
- Embarked on 27 lckm cable facility at Silvassa via wholly owned subsidiary UM Cables Ltd.
1999
- Introduced VRS at Ranchi cable and wire rope factories.
- Launched UM Cable Ltd in Silvassa for jelly-filled telecom cables.
- Setting up holding company for overseas distribution.
- Usha Communications Technology signed worldwide agreement with Compaq Computer Corporation.
- Entered $15 million funding agreement with American Express Bank.
- Formed JV with Martin Bright, Australia, for Rs 40 crore special steel facility in Jamshedpur.
- Acquired 10% equity in Usha Siam Limited.
- Umicor UK acquired EMMC UK for $3.5 million.
- Set up Usha Communications Technology for software in UK with Entryline Holdings.
- Initiated restructuring of global software activities with new US holding company UBEST America by 2000.
2000
- Set up technical training centres.
- Approved Scheme of Arrangement with Usha Martin Infotech Ltd.
- Acquired wire rope business of Brunton Shaw, UK.
- Issued 35,00,000 GDRs at US$3.25 each (1 GDR = 1 equity share).
2001
- Mr. Pradip P. Shah resigned as Director effective 24 January.
2002
- Tied up with Gustav Wolf, Germany, to manufacture steel cords.
- Board approved 100 KT per annum DRI plant.
- Appointed Mr. Biswajit Choudhuri (UTI nominee) and Mr. Dilip Mondal (IDBI nominee) to Board.
- Board approved preferential allotment of 53,45,455 equity shares each to IFC and promoters at Rs 33 per share.
- IFC signed Rs 120.5 crore investment agreement.
- UMIL acquired 30,00,000 shares (9.45%) on preferential basis.
2003
- DEG provided Rs 50 crore financing at Libor + 275 bps for 11 years.
- Purchased wire rope plant in Dubai.
- Acquired 49.55% stake in Usha Martin International Ltd, UK.
- Ministry of Coal allotted captive coal block in Jharkhand with over 30 MN T reserves for DRI project expansion.
- Mr. T. K. Banerjee (LIC nominee) resigned from Board.
2005
- Executed Business Transfer Agreement with JCT.
2007
- Appointed Mr. Suresh Neotia and Mr. Ashok Basu as Additional Directors.
- Split face value from Rs 5 to Rs 1.
2010
- Appointed Dr. Vijay Sharma and Mr. P. K. Jain as Executive Directors.
- Appointed Mr. G. N. Bajpai, Mr. Nripendra Misra, and Mr. Jitender Balakrishnan as Additional Directors (non-executive & independent).
2011
- Recommended dividend of Re. 1 per share (100%) on face value of Re. 1.
2012
- Promoted Dr. Vijay Sharma to Joint Managing Director & Chief Executive (Steel Business).
- Promoted Mr. P. K. Jain to Joint Managing Director & Chief Executive (Wire & Wire Ropes Business).
2013
- Won Best Supplier Award 2013 from Gabriel India Limited.
2020
- Associated with Dobra Chanti Bridge project on 440m span.
- Secured contract with LRPC for Durgam Cheruvu Cable Stayed Extradosed Bridge.
- Received CSR Excellence Award 2020 Gold Category from Apex India Foundation for Community Development Program.
2021
- Won BIZZ Award for Business Excellence from World Confederation of Business.
- Awarded Asian Leadership Award 2021.
- Participated in NAEC International Elevator Expo, USA.
- Conducted cataract operations for over 500 people with Rural Medical Centre amid COVID-19.
- Installed World’s Longest Adventurous Bridge with ropes.
- Installed Janki Setu Bridge with ropes.
2023
- Bagged 'Star Performer' Award for Export Excellence at 37th Export Awards by EEPC India.
- Received Ellies Award 2023 for Best Supplier Ropes/Travelling Cables from Elevator World Inc. at NAEC.
2024
- Usha Martin Americas Inc. completed acquisition of shares in Usha Siam Steel Industries Public Company Limited from Kobelco Wire Company Limited.
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