Usha Martin Limited share price
NSE: USHAMART · ISIN INE228A01035
Key numbers
- Market cap
- ₹ 15,792 Cr
- Current price
- ₹ 518.80
- 52-week high / low
- ₹ 543 / 380
- Stock P/E
- 29.7
- Book value
- ₹ 108.4
- Dividend yield
- 0.72%
- ROCE
- 19.6%
- ROE
- 15.4%
- Debt to equity
- 0.07
- Sales growth (3 yrs)
- 4.1%
- Profit growth (3 yrs)
- 10.0%
- 1-year return
- 16.3%
About Usha Martin Limited
Usha Martin Limited, together with its subsidiaries, manufactures and sells steel wires, strands, wire ropes, wire drawing and allied machine, cord, and related accessories in India and internationally. The company offers wire ropes, including crane, mining, elevator, oil and offshore, fishing, general engineering, aerial transportation, structural, and forestry ropes, as well as conveyor cords. It also provides spring, welding, fencing, ACSR, needle, mesh, fishhook, CHQ, spoke, and brush wires; LRPC strands comprising compacted, indented, un-bonded polymer coated, and bonded polymer LRPC strands; and wire drawing, tabular stranding, planetary stranding, bunching, and wire treatment machines. In addition, the company offers pre-tensioning, and post-tensioning solutions; prestressing solutions; and optical fiber, aerial cables, micro ducts, hybrid category, FTTH/drop, aerial copper, duct copper, and jelly filled copper cables. It serves engineering, construction, infrastructure and structural, oil and offshore, crane, auto, elevator, utilities, mining, and fishing industries. The company was formerly known as Usha Beltron Limited and changed its name to Usha Martin Limited in May…
Quarterly results
Consolidated figures in ₹ crores
| Mar 2025 | Jun 2025 | Sep 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|
| Sales | 896 | 887 | 917 | 979 | 1,033 |
| Operating profit | 140 | 145 | 176 | 212 | 208 |
| Net profit | 101 | 101 | 108 | 148 | 142 |
| EPS (₹) | 3.32 | 3.31 | 3.53 | 4.85 | 4.66 |
Concall summary (2026-08-03)
AI summary of the earnings call transcript · tone: Positive · source document
Guidance & outlook
- For FY27, we continue to expect capex of approximately INR 250 crore to INR 300 crore.
- During Q1 FY27, our consolidated revenue from operations stood at INR 1,033 crore from INR 887* crore, registering a healthy growth of 16.4% year-on-year.
Growth & demand
- Starting with wire ropes - Value growth was strong at 18% year-on-year even as overall volumes were marginally lower.
- In the domestic market, rope volumes grew approximately 12% year-on-year, while value grew around 21%, supported by healthy demand across crane, elevator and fishing segments.
Margins & costs
- Operating EBITDA stood at INR 208 crore, a 44% increase year-on-year with an EBITDA margin of 20.1%.
- Together with improvement in product mix, cost discipline and operating efficiencies, this enabled us to expand EBITDA margins to 20.1%.
Capex & expansion
- During the quarter, we incurred capital expenditure of approximately INR 73 crore.
- After funding capex of INR 73 crore, free cash flow stood at INR 135 crore.
Balance sheet & cash
- We generated operating cash flow of approximately INR 242 crore, representing cash conversion of 116% of operating EBITDA and closed the quarter with a net cash position of approximately INR 465 crore.
- This demonstrates that our profitability growth has been driven by a richer product mix, effective cost recovery and strong operating leverage, enabling a significant expansion in earnings.
Peers in Steel
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