Usha Martin Limited Maintained Profitability and Margins in the Previous Fiscal Year by Diversifying Its Product Mix: Mr. Rajeev Jhawar
The start of the fiscal year 2021–2022 marked the beginning of the pandemic’s second wave in India. Though the repercussions of the second wave were devastating from a social standpoint, the intensity of the impact on the economy was less severe than in the previous fiscal year. The economy continued to recover, as seen by a significant increase in public sector capital spending, particularly on infrastructure, robust exports, a resurgence in the services sector, and higher consumption levels. The conflict between Ukraine and Russia also resulted in rising input prices for high carbon wire rods, which reached an all-time high by early March 2022. Because international crude oil prices continued to remain firm, an increase in demand in the oil and gas market segment globally was possible, which improved demand for Usha Martin’s goods such as big diameter ropes and drilling lines, according to MD Rajeev Jhawar Usha Martin . Mr. Rajeev Jhawar Usha Martin believes that quickly anticipatin