Ahmedabad (Gujarat) [India], January 12 (ANI/PNN): Ultracab (India) Limited received an order from one of the prestigious group, "The Tata Power Company Limited" (TATA Group Of Company) of approx amt. Rs 22.88 crore.
Tata Power Company Limited is India's largest integrated power company with a significant international presence. The Company deals in all the segments of power sector, viz. Fuel & Logistics, Generation (thermal, hydro, solar and wind), Transmission, Distribution and Trading.
This order win is in addition to recent order received by the company from leading government and private sector corporate giants including Hindustan Zinc, Hindustan Aeronautics Limited (HAL), National Fertiliser Ltd, Gujarat State Electric Co. Lt, Southern Power Distribution Company of Telangana Ltd., Gujarat Narmada Fertiliser Company Ltd. (GNFCL), among others.
Sharing more details, Nitesh Vaghasiya, Managing Director, Ultracab (India) Ltd, said, "Since inception company has been growing in leaps and bounds. Going forward company aims to accelerate its growth and expand its margins and profitability through its wide range of products and focus on new potential markets. With its business plans firmed-up, Ultracab is confident of executing them seamlessly and attaining the next level of growth over the next 2-3-years with the support of its existing as well as future strategic stakeholders. Company has a vision is to be a leader in the Wires & Cables Industry by developing new product innovations that have features that compare with the global quality casting of international repute."
Ultracab (India) Ltd is a leading manufacturer & exporters of Wires & Cable manufacturers in India. Incorporated in 2007, company has specialisation in Instrumentation Cables, Elevator Cables, High-Temperature Automotive Cables and UL Approved Cables. Ultracab reflects its mission of delivering the best quality of Wires & Cables, which justify the "Value for Money" for its customers.
The company has state-of-the-art manufacturing facility is situated at Shapar (Rajkot, Gujarat) India equipped with modern technology, tools, high-tech machines which spin out the best quality standard of cables. The Company's esteemed customers include Reliance Industries, Adani Group, Tata Power, Hindustan Zinc, Aditya Birla Group, Wipro, Godrej, Jindal Steel and Power, Power Grid, BHEL, Western Railway, BPCL, IOC, HPCL, Gujarat State Road Transport etc. and many more.
In March 2022, company has announced bonus issue 1:2 and stock split from the face value of Rs 10 per share to Rs 2 per share.
For the Q2FY23, company has reported 104 per cent rise in the net profit at Rs 1.43 crore from Rs 0.7 crore in the corresponding period last year. Operation profit during Q2FYFY23 reported growth of 41 per cent at Rs 3.19 crore. Sales grew 45 per cent during Q2FY23 at Rs 31.21 crore as compared to sales of Rs 21.5 crore in the Q2FY22. Company has reported robust financials with a CAGR growth of 17 per cent in sales and 59 per cent in Net profit over the last 5 years. Promoter & Promoter Group holds 62.13 per cent stake in the company as on Sep 2022.
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