Usha Martin Ltd

Usha Martin Summary Chart Analysis Peers Quarters Profit & Loss Balance Sheet Cash Flow Ratios Investors Documents

Usha Martin Ltd

₹ 476 3.85%
13 May - close price
ushamartin.com BSE: 517146 NSE: USHAMART
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

Market Leadership
The company is the leading player in India's wire and wire rope industry, holding the top position as a provider of specialty steel wire rope solutions in the country. Globally, it ranks among the top five manufacturers in the sector. [1] [2]

Website BSE NSE
  • Market Cap ₹ 14,514 Cr.
  • Current Price ₹ 476
  • High / Low ₹ 498 / 302
  • Stock P/E 28.8
  • Book Value ₹ 108
  • Dividend Yield 0.63 %
  • ROCE 20.2 %
  • ROE 16.6 %
  • Face Value ₹ 1.00
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Pros

  • Company has reduced debt.
  • Company is almost debt free.
  • Company has been maintaining a healthy dividend payout of 22.3%

Cons

  • The company has delivered a poor sales growth of 12.0% over past five years.
  • Promoter holding has decreased over last 3 years: -7.34%

* 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 Nifty500 Shariah BSE Industrials BSE 250 SmallCap Index

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025 Mar 2026
855 814 785 797 829 826 891 861 896 887 908 917 979
701 669 640 640 678 672 730 718 757 743 735 741 768
Operating Profit 154 146 144 157 152 154 161 143 140 145 173 176 212
OPM % 18% 18% 18% 20% 18% 19% 18% 17% 16% 16% 19% 19% 22%
13 7 25 8 14 9 11 9 28 20 10 -5 21
Interest 8 6 6 6 7 7 8 9 7 6 5 5 4
Depreciation 17 18 18 19 23 22 23 26 28 29 28 29 31
Profit before tax 142 129 144 140 136 135 141 118 133 130 150 138 197
Tax % 26% 22% 24% 23% 22% 23% 23% 22% 24% 22% 27% 22% 25%
105 101 110 108 106 104 109 92 101 101 110 108 148
EPS in Rs 3.45 3.31 3.59 3.53 3.49 3.42 3.60 3.04 3.31 3.31 3.60 3.53 4.85
Raw PDF

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
4,561 4,112 3,882 2,066 2,488 2,154 2,097 2,688 3,268 3,225 3,474 3,691
3,845 3,771 3,493 2,253 2,512 1,922 1,814 2,304 2,754 2,627 2,877 2,986
Operating Profit 717 341 389 -188 -24 232 284 384 513 599 597 705
OPM % 16% 8% 10% -9% -1% 11% 14% 14% 16% 19% 17% 19%
-63 32 120 77 17 537 24 75 40 53 57 46
Interest 522 547 564 92 114 74 57 42 30 25 30 20
Depreciation 418 308 300 60 61 64 68 70 67 77 98 116
Profit before tax -287 -481 -355 -264 -181 630 183 346 455 550 527 615
Tax % -12% -11% 1% 2% -126% 33% 20% 16% 23% 23% 23% 24%
-251 -428 -358 -268 49 421 152 291 351 424 406 466
EPS in Rs -8.31 -14.10 -11.78 -8.90 1.57 13.74 4.91 9.56 11.49 13.91 13.37 15.29
Dividend Payout % 0% 0% 0% 0% 0% 0% 0% 21% 22% 20% 22% 25%
Compounded Sales Growth
10 Years: -1%
5 Years: 12%
3 Years: 4%
TTM: 6%
Compounded Profit Growth
10 Years: 12%
5 Years: 28%
3 Years: 13%
TTM: 24%
Stock Price CAGR
10 Years: 42%
5 Years: 56%
3 Years: 27%
1 Year: 54%
Return on Equity
10 Years: 11%
5 Years: 17%
3 Years: 17%
Last Year: 17%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Equity Capital 31 31 31 31 31 31 31 31 31 31 31 31
Reserves 1,728 1,323 914 697 751 1,197 1,373 1,663 2,000 2,349 2,721 3,271
3,993 4,472 4,364 4,073 3,565 620 530 411 417 364 417 229
2,556 2,111 2,423 2,646 2,645 696 649 625 627 570 563 681
Total Liabilities 8,307 7,936 7,731 7,445 6,992 2,544 2,582 2,730 3,075 3,313 3,731 4,212
5,477 5,302 5,031 4,862 935 956 932 913 952 1,153 1,406 1,625
CWIP 132 147 121 113 13 33 45 38 139 166 118 89
Investments 0 46 37 39 42 44 48 56 66 56 68 79
2,698 2,441 2,542 2,432 6,001 1,511 1,557 1,722 1,917 1,938 2,140 2,419
Total Assets 8,307 7,936 7,731 7,445 6,992 2,544 2,582 2,730 3,075 3,313 3,731 4,212

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
729 856 686 914 974 212 214 159 252 444 422 655
-563 -385 -29 -35 -3 2,942 -34 57 -155 -285 -219 -367
-266 -491 -663 -872 -973 -3,105 -177 -161 -101 -159 -91 -321
Net Cash Flow -100 -20 -5 7 -2 50 2 55 -4 -0 111 -33
Free Cash Flow 132 471 640 873 981 207 178 165 90 168 191 489
CFO/OP 105% 253% 177% -491% -4,116% 103% 77% 38% 67% 94% 91% 104%

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Debtor Days 39 55 64 119 48 51 57 56 56 61 55 64
Inventory Days 378 241 261 350 156 183 209 196 180 199 205 187
Days Payable 397 288 362 561 78 108 113 72 60 56 56 61
Cash Conversion Cycle 20 7 -37 -92 126 126 153 180 175 204 205 190
Working Capital Days -79 -96 -138 -288 -106 56 78 98 98 114 107 109
ROCE % 6% 1% 3% -4% -1% 7% 13% 18% 21% 22% 19% 20%

Insights

In beta
Mar 2014 Mar 2015 Mar 2017 Mar 2018 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Standalone Production Volume - Wire Ropes
MT ・Standalone data

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EBITDA per Metric Tonne (Consolidated)
Rs
Consolidated Sales Volume
'000 MT
LRPC Sales Volume
'000 MT
Number of Distribution Centers and Channel Partners
Count
Total Global Manufacturing Capacity
TPA
Value Added Products as % of Rope Sales
%
Wire Rope Sales Volume
'000 MT
Wire Sales Volume
'000 MT

Extracted by Screener AI

Shareholding Pattern

Numbers in percentages

Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
47.87% 47.51% 47.41% 46.04% 45.11% 43.54% 43.48% 43.90% 42.45% 41.75% 40.52% 40.52%
9.29% 12.03% 12.94% 14.78% 14.19% 14.61% 14.29% 14.25% 14.29% 14.14% 14.62% 14.77%
3.44% 3.86% 3.45% 3.60% 4.88% 7.44% 8.14% 9.25% 11.06% 12.29% 14.11% 14.81%
39.38% 36.60% 36.20% 35.57% 35.81% 34.40% 34.08% 32.53% 32.15% 31.74% 30.63% 29.80%
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.06% 0.06% 0.06% 0.11% 0.11%
No. of Shareholders 71,45476,48281,19585,4471,00,1001,11,1931,50,4031,18,5641,14,3491,04,8211,04,3971,01,177

* 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.

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Documents

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