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PNN
Rajkot (Gujarat) [India], February 5: Ultracab (India) Limited (BSE: 538706), a leading manufacturer and exporter of electric wires and cables, has won an order of Rs. 51.06 crore from the Maharashtra State Electricity Distribution Company Limited (MSEDCL). The order is for the supply of LT XLPE cables of various sizes and will be completed by June 2025. Nitesh Vaghasiya, Chairman & Managing Director of Ultracab (India) Limited, said, "This order by Maharashtra State Electricity Distribution Company Limited is a significant win for us and reflects the trust our customers have in our products. We are thankful to MSEDCL and look forward to completing the order on time." Founded in 2007, Ultracab is a Gujarat-based manufacturer and exporter of high-quality electric wires and cables, serving domestic, industrial, solar and elevator applications. Renowned for reliability, the company leverages advanced technology and rigorous quality control to ensure superior products. Its diverse portfolio includes domestic cables (house wires, PVC/XLPE power cables), international cables (auto cables, welding cables), and specialised cables (super flat, elevator and solar cables). Key Highlights: - Ultracab (India) Limited has won a Rs. 51.06 crore order from Maharashtra State Electricity Distribution Company Limited (MSEDCL). -The order is expected to be completed by June 2025. - Ultracab's shares saw a nearly 4% rise, reaching Rs. 15.55, with an intraday high of Rs. 17.52 with high volume. Market cap reached Rs. 201.80 crore. - Revenue increased by 159.5% to Rs. 57.24 crore, and profit increased by 64.6% to Rs. 2.70 crore compared to the same quarter last year. - A Rs. 4,981 lakh Rights Issue is currently open for subscription, closing on February 11. Ultracab's clients include leading corporates like Tata Group, Adani Group, Jindal Group, Vedanta Group, and various public sector undertakings such as the Indian Railways, Engineers India, Power Grid Corporation, SAIL, Bharat Petroleum, Mangalore Refinery and Petroleum, Nuclear Power Corporation of India Limited, Bharat Heavy Electricals Limited, and more. Ultracab has a state-of-the-art manufacturing facility at Shapar in Rajkot and remains committed to excellence and innovation in the cable industry. In addition to India, the company's products are also sold in the US, the UK, UAE, Africa, Singapore, South Korea, Vietnam, Belgium, Uganda, etc. MSEDCL is one of the largest power distribution companies in India and serves more than 2.70 crore customers throughout Maharashtra and a few suburbs of Mumbai city. Ultracab's shares were trading at Rs. 15.55 on Wednesday, up by nearly 4% over the previous close of Rs. 14.99. The shares touched a high of Rs. 17.52 in intraday trades. The company's market cap rose to Rs. 201.80 crore. Ultracab recently reported robust numbers for the third quarter of the financial year 2024-25. Its revenue was up by 159.5% to Rs. 57.24 crore in the December 2024 quarter as against Rs. 22.05 crore in the same quarter of the previous year. Profit for the quarter was Rs. 2.70 crore, an increase of 64.6% over Rs. 1.64 crore in the same quarter last year. The company's Rights Issue of Rs. 4,981 lakh is open for subscription and will close on February 11. Ultracab (India) Limited: Founded in 2007, Ultracab (India) Limited, based in Rajkot, Gujarat, is a leading manufacturer and exporter of high-quality electric wires and cables. The company offers a wide range of products, including domestic, international, and specialized cables. With a state-of-the-art manufacturing facility and a commitment to innovation and quality, Ultracab serves industries across India and globally, including markets in the UK, UAE, and Africa. (ADVERTORIAL DISCLAIMER: The above press release has been provided by PNN. ANI will not be responsible in any way for the content of the same)
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