Ultracab (India) Limited receives Rs 47.78 crore order from Sterling & Wilson Pvt. Ltd
Nov 30, 2023
PNN
Rajkot (Gujarat) [India], November 30: Ultracab (India) Limited, one of the leading company in the wire and cables has received a prestigious order from Sterling & Wilson Pvt. Ltd of approx. Rs 47.78 crore order. The order is for supply of LT AB Cable for the project under government scheme of RDSS for South Bihar Power Distribution Company Limited, Nalanda and Gaya District. The project for the supply of LT AB Cables is expected to be completed by March 2025.
Sterling and Wilson is one of the leading MEP and EPC contractor companies for power, solar energy, data center, DG set, cogen plants buildings, etc.
Recently, company received very important approval from Engineers India Ltd which makes the company eligible to participate in large scale petroleum, oil, gas and refinery projects with global requirements from various oil and gas EPC companies like L&T, BHEL, BGR Energy, Petrofac, Mc Dermott, ABB, Punj Lloyd, Aban Offshore Ltd among others. This is in addition to order received in the last few years from leading government and private sector corporate giants including Hindustan Zinc, Hindustan Aeronautics Ltd National Fertiliser Ltd, Gujarat State Electric Co. Ltd, Southern Power Distribution Company of Telangana Ltd, GNFC among others. In January 2023, company received an order from Tata Power Co Ltd of approx amt. Rs 22.88 crore.
Ultracab (India) Ltd is a leading manufacturer & exporters of Wires & Cable manufacturers in India. Incorporated in 2007, company has specialisation in LT Cables, Instrumentation Cables, Elevator Cables, High- Temperature Automotive Cables, and UL Approved cables. Company is one of the top most players in India and the qualities of products are high and comparable to the other 'players in the market. Company's manufacturing skills and technical expertise in electrical industry are able to make strong market presence worldwide.
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.
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."
The company is equipped with manufacturing skills and technical expertise in the electrical industry are able to make a strong market presence worldwide. Quality products are exported not only in India but worldwide. The company follows strict quality standards during the manufacturing process. The company is one of the top players in India and the qualities of the product are high and comparable to the other players in the market.
For the FY23, company has reported 85% rise in the net profit at Rs 5.82 crore from Rs 3.14 crore in the corresponding period last year. Sales grew 26% during FY23 to Rs 107.36 crore as compared to sales of Rs 85.14 crore in the FY22.
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