Rajeev Jhawar, Managing Director at Usha Martin Limited is the son of Brij Kishore Jhawar. He has been the MD of Usha Martin since May 19, 2008. Usha Martin Limited had gone through the mayhem with a huge debt burden and a family dispute for several years. After hoarding off its steel division to Tata in 2019, Rajeev Jhawar cleared most of the debts of the company and uplifted Usha Martin to its current healthy position. The current debt of the company was reduced to Rs.582 crore from Rs.4,600 crore as of 2018-19. Rajeev Jhawar is also the Director of Neutral Publishing House Ltd.
Usha Martin Limited established in 1960 was one of the leading steel producers and wire rope manufacturers in the country for a long period. The incorporation of the company was in the year 1986 under the name Usha Beltron Ltd. Since its incorporation, the company had been climbing the ladder of success and seeing immense growth for the past 50 years. Despite hard work, it was also the joint effort of the family that brought the company to the top.
Usha Martin started its business as a wire rope manufacturing company and is active in the business of Steel, Wire & Wire Ropes. The group has set new standards in the manufacture of wire rods, bright bars, steel wires, speciality wires, wire ropes, strands, conveyor cords, wire drawing and cable machinery. Its manufacturing units are set up in Ranchi, Hoshiarpur, Dubai, Bangkok and UK.
Usha Martin Limited had gone through turmoil with a huge debt burden and a family feud for several years. After hiving off its steel division to Tata in 2019 and clearing most of its debts, the company now sees itself in a reasonably healthy position. The current debt of the company, including the working capital, is now merely Rs582 crore, as against Rs4,600 crore in 2018-19. Usha Martin reduced its debt and cleared the balance sheet by selling its steel business, readying for a turnaround under Rajeev Jhawar.
Rajeev Jhawar is the backbone of Usha Martin Limited. He has stood with the company through its thick and thin times and turned around the company back to the track of success. Usha Martin Limited has won the Best Supplier Award in 2013 from Gabriel India Limited under the leadership of Rajeev Jhawar.
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