Usha Martin Ltd

Usha Martin Ltd

₹ 318 1.05%
28 Mar - close price
About

Usha Martin Ltd is primarily engaged in manufacture and sale of steel wires, strands, wire ropes, cords, related accessories, etc. It is also involved in sale of other products such as wire drawing and allied machines.[1]

Key Points

Product Offerings
The company offers a wide range of Specialty wire ropes, High-quality wires, Low relaxation prestressed concrete steel strands, Bespoke end-fitments, accessories and related services. [1]

  • Market Cap 9,709 Cr.
  • Current Price 318
  • High / Low 380 / 205
  • Stock P/E 30.9
  • Book Value 38.4
  • Dividend Yield 0.79 %
  • ROCE 25.7 %
  • ROE 21.3 %
  • Face Value 1.00

Pros

  • Company has a good return on equity (ROE) track record: 3 Years ROE 20.1%
  • Company has been maintaining a healthy dividend payout of 21.5%
  • Debtor days have improved from 48.5 to 36.7 days.

Cons

  • Stock is trading at 8.29 times its book value
  • The company has delivered a poor sales growth of 8.05% over past five years.
  • Promoter holding has decreased over last 3 years: -3.99%

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Sector: Steel Industry: Steel - Medium / Small

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023
365 441 403 421 471 515 516 519 496 511 501 498 532
315 374 347 364 408 442 445 451 420 428 410 398 420
Operating Profit 50 66 56 57 64 72 71 68 76 84 91 100 112
OPM % 14% 15% 14% 14% 14% 14% 14% 13% 15% 16% 18% 20% 21%
2 4 8 13 9 37 11 4 4 12 17 30 5
Interest 10 11 9 9 8 5 4 4 3 4 1 2 2
Depreciation 8 8 8 8 8 8 7 7 7 7 7 7 8
Profit before tax 33 52 47 53 57 97 71 61 70 85 100 120 108
Tax % 26% 11% 27% 20% 26% 4% 25% 26% 26% 26% 22% 24% 24%
24 46 35 42 42 93 54 45 52 63 78 91 81
EPS in Rs 0.80 1.51 1.13 1.38 1.38 3.04 1.76 1.48 1.70 2.07 2.57 2.99 2.67
Raw PDF

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 TTM
2,837 3,045 3,287 3,746 3,432 3,247 1,387 1,708 1,393 1,346 1,810 2,042 2,042
2,470 2,515 2,662 3,138 3,140 2,901 1,639 1,795 1,222 1,159 1,559 1,744 1,655
Operating Profit 367 529 625 608 291 346 -252 -87 171 187 252 298 387
OPM % 13% 17% 19% 16% 8% 11% -18% -5% 12% 14% 14% 15% 19%
42 43 68 -62 34 117 75 30 511 14 64 31 63
Interest 255 327 426 507 531 549 76 90 58 45 31 15 8
Depreciation 198 235 304 383 273 269 29 28 28 31 31 27 28
Profit before tax -44 10 -37 -344 -479 -355 -282 -176 596 126 253 287 413
Tax % 25% 32% 30% 15% 12% 0% 0% 134% 34% 20% 17% 26%
-33 7 -26 -292 -419 -355 -282 59 395 101 211 214 314
EPS in Rs -1.08 0.23 -0.84 -9.60 -13.77 -11.65 -9.26 1.94 12.97 3.30 6.93 7.01 10.30
Dividend Payout % 0% 65% 0% 0% 0% 0% 0% 0% 0% 0% 29% 36%
Compounded Sales Growth
10 Years: -4%
5 Years: 8%
3 Years: 14%
TTM: 0%
Compounded Profit Growth
10 Years: 41%
5 Years: 22%
3 Years: -19%
TTM: 47%
Stock Price CAGR
10 Years: 25%
5 Years: 51%
3 Years: 114%
1 Year: 47%
Return on Equity
10 Years: -5%
5 Years: 30%
3 Years: 20%
Last Year: 21%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Sep 2023
Equity Capital 31 31 31 31 31 31 31 31 31 31 31 31 31
Reserves 1,500 1,514 1,492 1,196 752 425 143 200 585 684 897 1,049 1,139
2,404 2,992 3,446 3,685 4,146 4,091 3,803 3,318 349 293 164 176 173
2,158 2,543 2,701 2,334 1,940 2,210 2,446 2,464 509 468 420 353 340
Total Liabilities 6,094 7,080 7,670 7,246 6,869 6,757 6,422 6,013 1,473 1,475 1,511 1,609 1,683
2,909 3,287 5,105 4,884 4,753 4,523 4,325 414 405 383 377 393 416
CWIP 762 1,174 152 49 68 45 29 9 30 38 36 134 202
Investments 187 183 175 168 154 151 151 151 151 151 151 151 151
2,235 2,436 2,238 2,145 1,894 2,039 1,918 5,439 887 903 948 931 915
Total Assets 6,094 7,080 7,670 7,246 6,869 6,757 6,422 6,013 1,473 1,475 1,511 1,609 1,683

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
464 386 1,047 644 766 605 884 969 148 111 185 142
-852 -676 -863 -467 -306 -12 -26 -44 2,920 -11 69 -122
369 198 -52 -270 -496 -592 -852 -927 -3,072 -101 -161 -66
Net Cash Flow -19 -92 131 -94 -35 1 6 -2 -4 -1 93 -46

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Debtor Days 46 59 40 32 48 61 147 46 48 59 50 37
Inventory Days 409 456 426 391 223 248 347 81 100 114 97 109
Days Payable 462 551 550 481 322 414 732 73 116 107 57 37
Cash Conversion Cycle -7 -37 -84 -58 -50 -105 -239 55 32 66 89 108
Working Capital Days -0 -11 -72 -38 -51 -90 -254 -53 51 86 74 77
ROCE % 6% 8% 8% 5% 1% 3% -6% -2% 29% 17% 24% 26%

Shareholding Pattern

Numbers in percentages

31 Recently
Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023
50.87% 50.50% 50.13% 49.79% 49.26% 49.04% 48.70% 48.30% 48.27% 47.87% 47.51% 47.41%
8.18% 8.41% 8.57% 8.60% 8.69% 8.68% 8.89% 8.83% 9.50% 9.29% 12.03% 12.94%
0.06% 0.05% 0.05% 0.05% 0.05% 0.06% 0.04% 0.83% 2.12% 3.44% 3.86% 3.45%
40.89% 41.03% 41.24% 41.56% 42.00% 42.22% 42.37% 42.04% 40.12% 39.38% 36.60% 36.20%
No. of Shareholders 49,39468,33063,37965,07462,39765,58466,90166,04766,39371,45476,48281,195

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

Click on the line-items to see the names of individual entities.

Documents

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