Ultracab (India) Limited, a prominent manufacturer and exporter of electric wires and cables, has secured a Rs. 51.06 crore order from the Maharashtra State Electricity Distribution Company Limited (MSEDCL). The order involves the supply of LT XLPE cables in various sizes and is expected to be completed by June 2025.
Nitesh Vaghasiya, Chairman & Managing Director of Ultracab (India) Limited, expressed gratitude, stating, “This significant order from MSEDCL is a testament to the confidence our customers place in our products. We are thankful to MSEDCL and are committed to delivering the order on schedule.”
Established in 2007, Ultracab is headquartered in Gujarat and is known for producing high-quality electric cables for a range of applications including domestic, industrial, solar, and elevator sectors. The company is recognized for its reliability and dedication to quality, using cutting-edge technology to manufacture a wide range of products including power cables, auto cables, welding cables, and specialized cables for various industries.
Ultracab (India) Limited has secured a significant order worth Rs. 51.06 crore from the Maharashtra State Electricity Distribution Company Limited (MSEDCL). This order involves the supply of LT XLPE cables and is expected to be completed by June 2025. The deal reflects Ultracab’s growing presence in the power distribution sector and strengthens its role as a key supplier of electrical cables.
The company’s stock saw a notable increase of nearly 4%, reaching Rs. 15.55, with an intraday high of Rs. 17.52. This surge in stock value helped boost Ultracab’s market capitalization to Rs. 201.80 crore, signaling positive investor sentiment and confidence in the company’s growth trajectory. These developments are indicative of Ultracab’s strong performance in the market, supported by its expanding portfolio of orders and ongoing projects.
In its financial performance, Ultracab reported a remarkable 159.5% increase in revenue for the quarter ending December 2024, amounting to Rs. 57.24 crore. Additionally, the company’s profit surged by 64.6%, reaching Rs. 2.70 crore compared to the same period last year. To further fuel its growth, Ultracab has launched a Rs. 4,981 lakh Rights Issue, which is open for subscription until February 11. This initiative aims to raise capital to support its expansion and development efforts.
Ultracab’s clientele includes major companies such as Tata Group, Adani Group, Jindal Group, Vedanta Group, and public sector giants like Indian Railways, Engineers India, Power Grid Corporation, and Bharat Petroleum.
With a state-of-the-art facility in Shapar, Rajkot, Ultracab continues to innovate and maintain high standards in the cable manufacturing sector. Its products are also exported to markets in the US, UK, UAE, Africa, Singapore, South Korea, Vietnam, and several other regions.
MSEDCL is one of India’s largest electricity distribution companies, serving over 2.70 crore customers across Maharashtra and parts of Mumbai. Ultracab’s share price rose to Rs. 15.55, marking a 4% increase from the previous close, with an intraday peak of Rs. 17.52. The company’s market capitalization has now reached Rs. 201.80 crore.
Ultracab (India) Limited, established in 2007 and headquartered in Rajkot, Gujarat, is a prominent manufacturer and exporter of premium electric wires and cables. The company provides a diverse range of products, including domestic, international, and specialized cables, catering to various industries. Equipped with a modern manufacturing facility, Ultracab is dedicated to innovation and maintaining high-quality standards, serving clients both across India and in international markets such as the UK, UAE, and Africa.
