Usha Martin Ltd, will continue to strengthen its primary growth engine core wire rope business while investing ₹200-250 crore annually to expand capacity in high-growth segments such as elevators, cranes and mining.
The manufacturer of wire ropes and speciality steel products will remain focused on improving competitiveness through productivity gains, cost efficiency, digital transformation and higher value-added products.
Expanding value added products
Beyond wire ropes, Usha Martin is expanding its portfolio of value-added wire products for automotive, transmission lines, rockfall protection and infrastructure applications. It is also growing its plasticated low-relaxation prestressed concrete strands used in stay-cable bridges and strengthening its offshore portfolio through synthetic slings under the Ocean Fibre brand.
“Our focus is to build on the progress made and turn it into consistent, profitable growth while maintaining competitiveness through productivity, cost efficiency, working capital management and return on capital,” said Managing Director Rajeev Jhawar in a letter to shareholders.
Capacity expansion
Over the past three years, the company has invested heavily in plant and machinery, increasing rope and wire capacity by 40,000 metric tonnes while removing production bottlenecks.
The investments have upgraded manufacturing capabilities to produce high-end wire ropes. As a result, select premium OceanMax rope orders have been successfully shifted from the company’s UK facility to its Ranchi plant.
Going forward, Usha Martin plans to invest around ₹200-250 crore every year to expand manufacturing capacity in high-growth domestic and international markets.
Digital transformation
The company will launch its SAP B2B Self-Service Portal in FY27 for subsidiaries, dealers and selected customers.
The platform will provide real-time access to orders, deliveries, invoices, inventory and test certificates, improving customer experience, partner collaboration and operational efficiency.
Usha Martin is also embedding advanced analytics and AI across customer-facing and internal operations to improve productivity, responsiveness and data-driven decision-making.
Financial performance
During FY26, the company improved profitability, achieved cash conversion of more than 100% and ended the year with a net cash balance sheet while continuing to invest in future growth.
The company said its global market share remains relatively small, providing significant opportunities for expansion as recent investments begin to deliver results.