Usha Martin Ltd
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]
- Market Cap ₹ 11,219 Cr.
- Current Price ₹ 368
- High / Low ₹ 451 / 279
- Stock P/E 27.7
- Book Value ₹ 90.3
- Dividend Yield 0.81 %
- ROCE 18.8 %
- ROE 15.8 %
- Face Value ₹ 1.00
Pros
- Company has been maintaining a healthy dividend payout of 21.4%
Cons
- Promoter holding has decreased over last quarter: -1.44%
- The company has delivered a poor sales growth of 10.0% over past five years.
* 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
Industrials Capital Goods Industrial Products Iron & Steel Products
Part of BSE 500 Nifty 500 BSE SmallCap BSE Allcap BSE Industrials
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
4,074 | 4,561 | 4,112 | 3,882 | 2,066 | 2,488 | 2,154 | 2,097 | 2,688 | 3,268 | 3,225 | 3,474 | |
3,357 | 3,845 | 3,771 | 3,493 | 2,253 | 2,512 | 1,922 | 1,818 | 2,304 | 2,754 | 2,627 | 2,877 | |
Operating Profit | 717 | 717 | 341 | 389 | -188 | -24 | 232 | 279 | 384 | 513 | 599 | 597 |
OPM % | 18% | 16% | 8% | 10% | -9% | -1% | 11% | 13% | 14% | 16% | 19% | 17% |
82 | -63 | 32 | 120 | 77 | 17 | 537 | 29 | 75 | 40 | 53 | 57 | |
Interest | 440 | 522 | 547 | 564 | 92 | 114 | 74 | 57 | 42 | 30 | 25 | 30 |
Depreciation | 333 | 418 | 308 | 300 | 60 | 61 | 64 | 68 | 70 | 67 | 77 | 98 |
Profit before tax | 27 | -287 | -481 | -355 | -264 | -181 | 630 | 183 | 346 | 455 | 550 | 527 |
Tax % | 50% | -12% | -11% | 1% | 2% | -126% | 33% | 20% | 16% | 23% | 23% | 23% |
13 | -251 | -428 | -358 | -268 | 49 | 421 | 152 | 291 | 351 | 424 | 406 | |
EPS in Rs | 0.35 | -8.31 | -14.10 | -11.78 | -8.90 | 1.57 | 13.74 | 4.91 | 9.56 | 11.49 | 13.91 | 13.37 |
Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 21% | 22% | 20% | 22% |
Compounded Sales Growth | |
---|---|
10 Years: | -3% |
5 Years: | 10% |
3 Years: | 9% |
TTM: | 8% |
Compounded Profit Growth | |
---|---|
10 Years: | 16% |
5 Years: | 0% |
3 Years: | 15% |
TTM: | -4% |
Stock Price CAGR | |
---|---|
10 Years: | 34% |
5 Years: | 83% |
3 Years: | 34% |
1 Year: | 0% |
Return on Equity | |
---|---|
10 Years: | 6% |
5 Years: | 17% |
3 Years: | 18% |
Last Year: | 16% |
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
Equity Capital | 31 | 31 | 31 | 31 | 31 | 31 | 31 | 31 | 31 | 31 | 31 | 31 |
Reserves | 1,972 | 1,728 | 1,323 | 914 | 697 | 751 | 1,197 | 1,373 | 1,663 | 2,000 | 2,349 | 2,721 |
3,732 | 3,993 | 4,472 | 4,364 | 4,073 | 3,565 | 620 | 530 | 411 | 417 | 364 | 417 | |
2,914 | 2,556 | 2,111 | 2,423 | 2,646 | 2,645 | 696 | 649 | 625 | 627 | 570 | 563 | |
Total Liabilities | 8,649 | 8,307 | 7,936 | 7,731 | 7,445 | 6,992 | 2,544 | 2,582 | 2,730 | 3,075 | 3,313 | 3,731 |
5,500 | 5,477 | 5,302 | 5,031 | 4,862 | 935 | 956 | 932 | 913 | 952 | 1,153 | 1,406 | |
CWIP | 373 | 132 | 147 | 121 | 113 | 13 | 33 | 45 | 38 | 139 | 166 | 118 |
Investments | 0 | 0 | 46 | 37 | 39 | 42 | 44 | 48 | 56 | 66 | 56 | 68 |
2,775 | 2,698 | 2,441 | 2,542 | 2,432 | 6,001 | 1,511 | 1,557 | 1,722 | 1,917 | 1,938 | 2,140 | |
Total Assets | 8,649 | 8,307 | 7,936 | 7,731 | 7,445 | 6,992 | 2,544 | 2,582 | 2,730 | 3,075 | 3,313 | 3,731 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
1,144 | 729 | 856 | 686 | 914 | 974 | 212 | 214 | 159 | 252 | 444 | 422 | |
-1,050 | -563 | -385 | -29 | -35 | -3 | 2,942 | -34 | 57 | -155 | -285 | -219 | |
18 | -266 | -491 | -663 | -872 | -973 | -3,105 | -177 | -161 | -101 | -159 | -91 | |
Net Cash Flow | 113 | -100 | -20 | -5 | 7 | -2 | 50 | 2 | 55 | -4 | -0 | 111 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
Debtor Days | 47 | 39 | 55 | 64 | 119 | 48 | 51 | 57 | 56 | 56 | 61 | 55 |
Inventory Days | 400 | 378 | 241 | 261 | 350 | 156 | 183 | 209 | 196 | 180 | 199 | 205 |
Days Payable | 429 | 397 | 288 | 362 | 561 | 78 | 108 | 113 | 72 | 60 | 56 | 56 |
Cash Conversion Cycle | 18 | 20 | 7 | -37 | -92 | 126 | 126 | 153 | 180 | 175 | 204 | 205 |
Working Capital Days | -104 | -79 | -96 | -138 | -288 | -106 | 56 | 78 | 98 | 98 | 114 | 107 |
ROCE % | 9% | 6% | 1% | 3% | -4% | -1% | 22% | 13% | 18% | 21% | 22% | 19% |
Documents
Announcements
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Announcement under Regulation 30 (LODR)-Credit Rating
1d - India Ratings reaffirms Usha Martin's long-term IND A+/Stable and short-term IND A1+ credit ratings.
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Announcement under Regulation 30 (LODR)-Newspaper Publication
16 Jul - Copies of newspaper advertisement published on Wednesday, 16th July 2025 with respect to the 39th AGM and E-Voting Information.
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Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018
16 Jul - Certificates received from KFin Technologies Limited, RTA of the Company, confirming compliance with Regulation 74(5) of the SEBI (Depositories and Participants) Regulations, 2018 for the …
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Intimation Under Regulation 30 Of The SEBI (LODR) Regulations, 2015 - Letter To Shareholders Pursuant To Regulation 36(1)(B) Of SEBI LODR Regulations 2015
16 Jul - Usha Martin announces 39th AGM on 7 Aug 2025, annual report access, e-voting, dividend record date, and KYC update details.
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Business Responsibility and Sustainability Reporting (BRSR)
15 Jul - Usha Martin's FY 2024-25 Business Responsibility and Sustainability Report filed as per SEBI regulations.
Annual reports
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Financial Year 2025
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Financial Year 2024
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Financial Year 2023
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Financial Year 2022
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Financial Year 2019
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Financial Year 2018
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Financial Year 2016
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Financial Year 2015
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Financial Year 2014
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Financial Year 2013
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Financial Year 2012
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Financial Year 2011
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Concalls
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May 2025Transcript PPT
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Feb 2025Transcript PPT REC
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Nov 2024Transcript PPT REC
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May 2024Transcript PPT REC
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Apr 2024TranscriptNotesPPT
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Nov 2023Transcript PPT REC
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Nov 2021TranscriptNotesPPT
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Aug 2021TranscriptNotesPPT
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May 2016TranscriptNotesPPT
Product Offerings
The company offers a range of specialty wire ropes, high-quality wires, low relaxation prestressed concrete steel strands (LRPC), bespoke end-fitments, accessories, and related services. It also manufactures jelly-filled and optical fiber telecommunication cables. [1]