EPW Research Foundation USHA MARTIN INDUSTRIES Expansion and Modernisation USHA MARTIN INDUSTRIES, a part of the Jhawar group, saw an encouraging performance in 1995-96 when it earned a 26.2 per cent higher net profit over the previous year. A leader in wire and wire ropes, the company achieved a 20.1 per cent rise in net sales and a 14.9 per cent increase in value of production during the same period. At a time when the economy suffered from an acute liquidity crunch, the company managed to keep its interest cost (up 10.5 per cent) under control A lower increase in depreciation (up a mere 4 per cent) helped the company post a favourable increase in its bottomline.