Usha Martin Ltd

₹ 133 -0.56%
05 Dec 4:10 p.m.
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's product offerings include steel wire ropes, LRPC, wires and strands, pre-stressing accessories and services, rope making & allied machinery and telecom cables.[1] Majority of company's products are value-added as they are customised based on the customers' requirements, resulting in higher and more stable realisations than other commodity products.[2]

  • Market Cap 4,071 Cr.
  • Current Price 133
  • High / Low 165 / 80.6
  • Stock P/E 13.3
  • Book Value 58.0
  • Dividend Yield 1.50 %
  • ROCE 17.2 %
  • ROE 17.1 %
  • Face Value 1.00

Pros

  • Company has reduced debt.
  • Company has delivered good profit growth of 21.7% CAGR over last 5 years

Cons

  • The company has delivered a poor sales growth of -7.09% over past five years.
  • Promoters have pledged 54.2% of their holding.

* 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

Consolidated Figures in Rs. Crores / View Standalone

Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022
538 537 515 376 518 550 653 615 594 712 767 759 820
479 478 484 339 447 483 552 524 509 612 660 641 705
Operating Profit 59 59 31 37 72 66 101 91 85 100 107 117 115
OPM % 11% 11% 6% 10% 14% 12% 16% 15% 14% 14% 14% 15% 14%
15 7 17 8 7 9 8 6 14 9 37 7 6
Interest 17 17 17 16 15 13 14 12 12 11 7 7 8
Depreciation 16 16 16 17 17 17 17 18 18 17 17 17 17
Profit before tax 41 33 14 13 46 45 78 69 69 81 120 100 96
Tax % 26% 77% 91% 34% 18% 22% 17% 18% 18% 20% 12% 21% 22%
Net Profit 30 8 1 9 38 37 68 58 58 67 109 82 79
EPS in Rs 0.96 0.22 0.01 0.27 1.19 1.23 2.23 1.90 1.89 2.20 3.57 2.69 2.59
Raw PDF

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 TTM
3,045 3,361 3,622 4,074 4,561 4,112 3,882 2,066 2,488 2,154 2,097 2,688 3,058
2,492 2,926 3,006 3,357 3,845 3,771 3,493 2,253 2,512 1,922 1,818 2,304 2,618
Operating Profit 553 435 616 717 717 341 389 -188 -24 232 279 384 439
OPM % 18% 13% 17% 18% 16% 8% 10% -9% -1% 11% 13% 14% 14%
42 63 89 82 -63 32 120 77 17 537 29 66 59
Interest 190 264 338 440 522 547 564 92 114 74 57 42 33
Depreciation 201 223 264 333 418 308 300 60 61 64 68 70 68
Profit before tax 204 11 104 27 -287 -481 -355 -264 -181 630 183 338 397
Tax % 31% 42% 21% 50% 12% 11% -1% -2% 126% 33% 20% 16%
Net Profit 140 7 82 13 -251 -428 -358 -268 49 421 152 291 337
EPS in Rs 4.50 0.12 2.59 0.35 -8.31 -14.10 -11.78 -8.90 1.57 13.74 4.91 9.56 11.05
Dividend Payout % 22% -0% 6% -0% -0% -0% -0% -0% -0% -0% -0% 21%
Compounded Sales Growth
10 Years: -2%
5 Years: -7%
3 Years: 3%
TTM: 27%
Compounded Profit Growth
10 Years: 55%
5 Years: 22%
3 Years: 73%
TTM: 38%
Stock Price CAGR
10 Years: 15%
5 Years: 42%
3 Years: 69%
1 Year: 56%
Return on Equity
10 Years: -2%
5 Years: 10%
3 Years: 21%
Last Year: 17%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Sep 2022
31 31 31 31 31 31 31 31 31 31 31 31 31
Reserves 1,754 1,799 1,905 1,972 1,698 1,294 914 697 751 1,197 1,373 1,663 1,737
1,756 2,548 3,193 3,732 3,993 4,472 4,364 4,073 3,565 620 530 411 423
1,996 2,312 2,718 2,914 2,586 2,140 2,423 2,646 2,645 696 649 625 661
Total Liabilities 5,536 6,690 7,846 8,649 8,307 7,936 7,731 7,445 6,992 2,544 2,582 2,730 2,852
3,052 3,217 3,641 5,500 5,477 5,302 5,031 4,862 935 956 932 913 900
CWIP 389 772 1,294 373 132 147 121 113 13 33 45 38 63
Investments 0 0 0 0 0 46 37 39 42 44 48 56 59
2,096 2,701 2,911 2,775 2,698 2,441 2,542 2,432 6,001 1,511 1,557 1,722 1,829
Total Assets 5,536 6,690 7,846 8,649 8,307 7,936 7,731 7,445 6,992 2,544 2,582 2,730 2,852

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
348 574 429 1,144 729 856 686 914 974 212 214 159
-789 -878 -810 -1,050 -563 -385 -29 -35 -3 2,942 -34 57
541 356 243 18 -266 -491 -663 -872 -973 -3,105 -177 -161
Net Cash Flow 100 51 -138 113 -100 -20 -5 7 -2 50 2 55

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
Debtor Days 53 46 58 47 39 55 64 119 48 51 57 56
Inventory Days 369 402 454 400 378 241 261 350 156 183 209 196
Days Payable 327 397 465 429 397 288 362 561 78 108 113 72
Cash Conversion Cycle 94 51 47 18 20 7 -37 -92 126 126 153 180
Working Capital Days 27 25 18 -28 -4 -40 -49 -117 19 96 122 121
ROCE % 13% 7% 9% 9% 6% 1% 3% -4% -1% 22% 13% 17%

Shareholding Pattern

Numbers in percentages

6 recently
Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022
50.21 52.46 53.52 52.83 51.80 50.87 50.50 50.13 49.79 49.26 49.04 48.70
9.37 8.40 8.16 8.17 8.33 8.18 8.41 8.57 8.60 8.69 8.68 8.89
1.67 1.17 1.57 0.37 0.05 0.06 0.05 0.05 0.05 0.05 0.06 0.04
38.75 37.97 36.75 38.64 39.82 40.89 41.03 41.24 41.56 42.00 42.22 42.37

* The XBRL reporting format changed from Sep'2022 onwards. The new format added details about banks and foreign portfolio investors. These were not available earlier.
The sudden increase in FII or DII might be because of these changes.

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

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