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    Steel
Usha Martin Limited

Usha Martin Limited

USHAMART.NS
Usha Martin LimitedIN flagNational Stock Exchange of India
514.55
INR
+0.45
- -
156.63BMarket Cap
Usha Martin Limited
USHAMART.NS
(National Stock Exchange of India)

Recent

price

514.55

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
102,691
111,641
139,906

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
- -
- -
- -
- -
- -
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Business
Usha Martin Limited manufactures and supplies high-performance wire ropes, low relaxation prestressed concrete (LRPC) strands, wires, pre-stressing accessories, machinery and cables; it offers value-added services including socketing, cutting, coiling, spooling, pre-stressing jobs and turnkey project solutions for sectors such as infrastructure, ports, mining, oil and offshore, elevators, fishing, ropeways, telecommunications and automobiles. Founded in 1960 and headquartered in Kolkata, India, the company operates manufacturing facilities in India, the United Kingdom, Thailand and the United Arab Emirates, with distribution and service centers across Asia Pacific, Europe, the Americas and the Middle East. Usha Martin serves global markets through subsidiaries including Usha Siam Steel Industries in Thailand, Brunton Shaw in the UK, De Ruiter Staalkabel in the Netherlands and Usha Martin Americas in the US. In 2024, Usha Martin acquired the remaining 50% stake in its Japanese joint venture TESAC Usha, forming Usha Siam Specialty Wire Rope to enhance specialty wire rope production; the company also expanded its fine cord production line at Usha Siam in Thailand, adding capabilities for 1.5-5 mm wire ropes, high-performance elevator ropes, automotive cables and precision marble cutting ropes. Recent achievements include earning EcoVadis Bronze Medal for sustainability, AEO T-2 Certification for supply chain security and supplying specialized wire ropes for landmark projects such as the Chenab Bridge, Pamban Bridge and Agra Metro Rail.