1. India Stocks

  2. •

    Basic Materials

  3. •

    Steel
Usha Martin Limited

Usha Martin Limited

USHAMART.BO
Usha Martin LimitedIN flagBombay Stock Exchange
514.30
INR
+0.15
- -
156.11BMarket Cap
Usha Martin Limited
USHAMART.BO
(Bombay Stock Exchange)

Recent

price

514.30

P/E

ratio

- -

div

yld

- -

ROIC.AI

2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
2026
TTM
FRC
99.91
109.54
118.56
133.57
149.16
132.38
123.82
66.61
79.56
69.01
67.23
86.1
104.59
102.97
114.02
- -
116.91
Revenue per Share
4.6
0.12
2.59
0.35
-8.31
-14.1
-11.78
-8.9
1.57
13.74
4.91
9.56
11.49
13.91
13.37
- -
13.2
Basic EPS, GAAP
-14.53
-4.96
-13.91
-1.27
4.16
15.37
18.23
27.12
29.48
5.64
5.8
3.53
2.27
5.45
5.81
- -
- -
Free Cash Flow per Basic Share
1.16
1.16
0.01
0.18
0.01
- -
- -
- -
- -
- -
- -
- -
2
2.5
2.75
- -
- -
Dividend per Share
9.66
9.78
11.92
12
7.82
-6.66
-18.52
-27.52
-25.99
-12.57
-7.67
28.47
37.98
49.19
59.79
- -
1
Book Value per Share
57.26
58.81
62.34
64.78
56.42
42.68
28.66
21.7
24.53
39.41
44.15
53.79
64.89
76.18
88.21
- -
95.25
Tangible Book Value per Share
305
305
305
305
305
305
305
305
305
305
305
305
305
305
305
- -
305
Basic Weighted Avg Shares
30,446
33,381
36,130
40,704
45,455
40,341
37,733
20,298
24,247
21,031
20,488
26,238
31,874
31,380
34,742
36,911
35,609
Sales/Revenue/Turnover
12.53
7.96
10.58
10.65
7.28
2.26
3.72
8.59
10.86
8.39
10.68
12.53
14.25
16.83
14.37
15.95
13.82
Operating Margin (%)
2,010
2,227
2,638
3,332
4,184
3,080
3,000
3,049
2,992
693
679
698
675
770
979
1,164
1,108
Depreciation Expense
1,400
36
788
107
-2,531
-4,297
-3,589
-2,712
480
4,188
1,496
2,913
3,501
4,240
4,074
4,660
4,020
Net Income, GAAP
31.38
41.93
20.52
50.43
- -
- -
- -
3.59
- -
142.52
19.4
15.84
23.01
22.82
22.88
23.2
22.48
Effective Tax Rate (%)
4.6
0.11
2.18
0.26
-5.57
-10.65
-9.51
-13.36
1.98
19.92
7.3
11.1
10.99
13.51
11.73
12.62
11.29
Profit Margin (%)
-257
3,024
-1,477
-9,776
-9,593
-11,348
-14,204
-15,683
16,955
4,559
5,827
8,846
10,402
11,732
12,891
15,844
13,307
Working Capital
13,580
19,989
23,144
26,422
27,050
29,975
28,448
27,526
23,060
3,419
2,764
2,289
2,532
2,576
2,135
910
1,429
LT Debt
18,018
18,511
19,582
20,334
17,946
13,877
9,789
7,608
8,144
12,653
14,071
16,973
20,351
23,839
27,517
33,021
29,648
Total Equity
8.59
3.95
6.33
3.91
- -
- -
- -
3.22
- -
-2.37
9.14
13.46
15
15.35
12.78
13.32
11.99
Return on Invested Capital (%)
18.14
6.35
10.38
5.69
- -
- -
- -
-5.37
- -
25.29
66.04
40.88
25.96
25.56
21.01
38.5
107.08
Return on Capital (%)
86.19
1.22
23.85
2.94
-83.83
- -
- -
- -
- -
- -
- -
- -
34.58
31.92
24.54
50.31
1,316.87
Return on Common Equity (%)

Capital Structure

FRC

•

in mil. unless spec.
Mar'25
Jun'26
Sep'26
ST Debt
2,032
- -
1,213
LT Borrowings
1,454
- -
750
LT Finance Leases
681
- -
679
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
305
- -
305
Market Capitalization
102,478
111,595
140,195

Working Capital

FRC

•

in mil. unless spec.
Mar'25
Jun'26
Sep'26
Total Current Assets
19,841
- -
19,776
Cash, Cash Equivalents & STI
2,722
- -
3,861
Accounts Receivable, Net
5,276
- -
6,034
Inventories
9,849
- -
9,082
Total Current Liabilities
6,950
- -
6,469
Payables & Accruals
- -
- -
- -
ST Debt
2,032
- -
1,213
Deferred Revenue
- -
- -
- -

Growth Rates

FRC

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
11.5%
18.62%
20%
Free Cash Flow
22.8%
46%
158.19%
Net Income, GAAP
69.65%
29.29%
14.38%
Sales/Revenue/Turnover
1.59%
12.99%
6.24%
Total Cash Common Dividend
- -
- -
9.03%

Quarterly Revenue

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
8,144
7,847
7,971
7,418
31,380
2025
8,264
8,605
8,605
8,961
34,742
2026
8,872
9,170
9,793
- -
36,911

Quarterly Earnings Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
3.31
3.59
3.53
- -
13.91
2025
3.42
3.04
3.04
3.32
13.37
2026
3.31
3.53
4.85
- -
- -

Quarterly Dividends Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
- -
- -
- -
2.5
2025
- -
- -
- -
- -
2.75
2026
- -
- -
- -
- -
- -
Similar Companies
Steel Authority of India Limited (SAIL.BO)
Mangalam Alloys Ltd. (MAL.NS)
SSAB AB (publ) (SSABBH.HE)
Maanshan Iron & Steel Company Limited (600808.SS)
ArcelorMittal S.A. (ARRD.DE)
Hisar Metal Industries Limited (HISARMET.BO)
Business
Usha Martin Limited is an Indian multinational company specializing in the manufacturing and supply of specialty steel wire ropes, wires, strands, prestressing steel products, and related accessories. It produces a diverse range of high-performance wire ropes including fiber core wire ropes, steel core wire ropes (IWRC and WSC), and pre-stressing strands used in construction, infrastructure, oil and gas, mining, and other heavy industries. The company also manufactures jelly-filled and optical fiber telecommunication cables and offers rigging services, installation, inspection, and customized wire rope solutions globally. Founded in 1961 and headquartered in Kolkata, India, Usha Martin operates manufacturing facilities in India and internationally, with sales and distribution networks in countries including the United States, United Kingdom, Dubai, Thailand, and Singapore. Recent major developments include the ongoing ramp-up of the wave-1 capital expenditure program at its Ranchi facility focused on expanding capacity for value-added wire rope products, with commercial operations expected to start from Q1 FY25. This expansion aims to enhance competitive positioning and growth in high value segments. Usha Martin continues to deepen engagement with original equipment manufacturers (OEMs) and expand its international presence. The company also approved stock options under its 2024 Employee Stock Option Plan as part of strategic talent retention and incentive measures. Over the last 1-2 years, Usha Martin has prioritized sustainability initiatives, efficiency improvements, and product innovation, including development of new composite ropes, to maintain leadership in safety, quality standards, and customized client solutions across global markets. Usha Martin’s product portfolio comprehensively covers steel wire ropes, low relaxation prestressed concrete (LRPC) strands, high-tensile wires, bright bars, specialty wires, and cables, serving diverse industrial applications and demanding operational environments worldwide. The company’s focus on quality control, technical service support, and global customized solutions enables it to address critical applications in lifting, towing, mooring, and material handling sectors effectively. With a broad geographic footprint and strategic partnerships enhancing supply chain and technological capabilities, Usha Martin remains a leading player in the specialty steel wire solutions industry globally.