Rajeev Jhawar Usha Martin stays hopeful that demand for UML’s wire ropes will pick up post-monsoon

Rajeev Jhawar Usha Martin, Managing Director of Usha Martin Limited, expects that the domestic demand for Usha Martin’s products, particularly in the construction and auto sectors will start picking up after the monsoon season. According to Rajeev Jhawar, “The various measures announced by the Central government to boost the economy are likely to start yielding results post-monsoon”. There should be a pick-up in demand during the festival season post-September-October, by which time the company hope that the Covid situation would also be brought slightly under control. He also forecasts his views on the various stimulus measures taken by the government to enhance the growth of the economy.

UML’s wire rope business manufactures wire, strands, LRPC and wire ropes, which cater to various industries, including steel, infrastructure, construction and auto. “The demand from construction, auto and oil sectors is down. Rajeev Jhawar also 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, he said.

Usha Martin Limited expects the Indian economy to rebound on the back of pent-up demand across sectors. Rajeev Jhawar anticipates that Reserve Bank of India’s 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.

Rajeev Jhawar Usha Martin, Managing
Director of Usha Martin Limited.

Global demand for the oil and offshore market saw improvement during the FY20-21 which in turn boosted the demand for speciality rope products of the company catering to the wire rope industry. According to Rajeev Jhawar, it is expected that the demand from the said sector shall sustain in the next fiscal and is expected to provide business opportunities to the company. Further Rajeev Jhawar also states that with steady infrastructure spending by the government, speciality products used in construction and infrastructural sector may be growth drivers for the company in the years to come.

Usha Martin Limited with the leadership of Rajeev Jhawar, continues to follow stringent safety protocols to ensure wellbeing of its employees and is in continuous process of dynamically adopting to the ever changing global and domestic macro-economic environment as and when the same is required in these post – pandemic times.