Usha Martin
- Market cap
- ₹ 14,018 Cr.
- P/E
- 25.7x
- P/B
- 4.3x
- 52-week range
- 380 – 542.6
- ROE
- 15%
- ROCE
- 19%
- Dividend yield
- 0.8%
- Debt / equity
- 0.07
- Sector
- Industrial Products
- Industry
- Iron & Steel Products
- Listed on
- NSE, BSE
About
Usha Martin Limited is an India-based specialty steel wire rope solutions provider. The Company is also engaged in the manufacturing of wires, low relaxation prestressed concrete steel strand (LRPC), wires, prestressing solutions, cables, and bespoke end-fitments and accessories. Its segments include Wire and Wire ropes, and Others. The Wire and Wire ropes segment is engaged in the manufacturing and sale of steel wires, strands, wire ropes, cords, related accessories, wire drawing and allied machine, among others. The Others segment is engaged in the manufacturing and sale of jelly filled and optical fiber telecommunication cables. It provides various wire ropes, such as crane rope, mining rope, elevator rope, oil and offshore rope, fishing rope, general engineering rope, aerial transportation rope, structural rope, and conveyor rope. Its LRPC strands include unbonded polymer coated LRPC strand, bonded polymer coated LRPC strand, compacted LRPC strand, and intended LRPC strand.
Quick check
The five things to look at first. Open one for more.
Compared with its industry
Iron & Steel Products: 148 companies →Usha Martin against the typical company in its industry. The rank is out of the companies that report each figure; green means the better quarter of the pack, red the worse quarter.
- Valuation (P/E)25.7 against a typical 18.6: pricier than most peers (1st = cheapest).87th of 146
- Sales growth+16.5% against a typical +13.1% from a year earlier.52nd of 117
- Profit growth+40.6% against a typical +26.2% from a year earlier.43rd of 105
- Share price, 3 months−6.9% against a typical −3.1%.79th of 135
- Size₹ 14,018.1 Cr. market value against a typical ₹ 156.5 Cr. (1st = largest).4th of 135
Credit ratings
Every rating action on file, newest first, including reaffirmations. Open a row for the agency's reasoning. All credit rating updates
High safety
Rated AA- by India Ratings- No warnings from the agency.
| Agency | Current rating | Outlook | As of |
|---|---|---|---|
| India Ratings | IND AA-; IND A1+ | Stable | 23 Jul 2026 |
| Rating | Details | |||||
|---|---|---|---|---|---|---|
| 23 Jul 2026 | Reaffirmed | IND AA- | — | India Ratings | ₹ 485 Cr. |
Board meetings
Results dates and other board meetings. Full calendar
| Details | ||
|---|---|---|
| 27 Jul 2026 | Financial Results | To consider and approve the financial results for the period ended Jun 30, 2026 |
| 30 Apr 2026 | Financial Results/Dividend | To consider and approve the audited financial results (standalone and consolidated) for the quarter and year ended March 31, 2026 and recommendation of dividend. |
| 29 Jan 2026 | Financial Results | To consider and approve the unaudited financial results (standalone and consolidated) for the quarter and nine months ended December 31, 2025. |
| 8 Nov 2025 | Financial Results | To consider and approve the unaudited financial results (standalone and consolidated) for the quarter and half year ended September 30, 2025. |
| 12 Aug 2025 | Financial Results | To consider and approve the unaudited financial results (standalone and consolidated) for the period ended Jun 30, 2025 |
| 12 May 2025 | Financial Results/Dividend | To consider and approve the audited financial results (standalone and consolidated) for the quarter and year ended 31st March 2025 and recommendation of dividend for the financial year ended 31st March 2025. |
Financials
Consolidated figures in ₹ crore.
| ₹ Cr. | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 785 | 797 | 829 | 826 | 891 | 861 | 896 | 887 | 908 | 917 | 979 | 1,033 |
| Expenses | 640 | 640 | 678 | 672 | 730 | 718 | 757 | 743 | 735 | 741 | 768 | 825 |
| Operating Profit | 144 | 157 | 152 | 154 | 161 | 143 | 140 | 145 | 173 | 176 | 212 | 208 |
| OPM % | 18% | 20% | 18% | 19% | 18% | 17% | 16% | 16% | 19% | 19% | 22% | 20% |
| Other Income | 25 | 8 | 14 | 9 | 11 | 9 | 28 | 20 | 10 | −5 | 21 | 14 |
| Interest | 6 | 6 | 7 | 7 | 8 | 9 | 7 | 6 | 5 | 5 | 4 | 4 |
| Depreciation | 18 | 19 | 23 | 22 | 23 | 26 | 28 | 29 | 28 | 29 | 31 | 34 |
| Profit before tax | 144 | 140 | 136 | 135 | 141 | 118 | 133 | 130 | 150 | 138 | 197 | 184 |
| Tax % | 24% | 23% | 22% | 23% | 23% | 22% | 24% | 22% | 27% | 22% | 25% | 23% |
| Net Profit | 110 | 108 | 106 | 104 | 109 | 92 | 101 | 101 | 110 | 108 | 148 | 142 |
| EPS in Rs | 3.59 | 3.53 | 3.49 | 3.42 | 3.6 | 3.04 | 3.31 | 3.31 | 3.6 | 3.53 | 4.85 | 4.66 |
Growth and returns
Compounded yearly rates over each period.
- 10 Years
- −1%
- 5 Years
- 12%
- 3 Years
- 4%
- TTM
- 9%
- 10 Years
- 12%
- 5 Years
- 25%
- 3 Years
- 9%
- TTM
- 35%
- 10 Years
- 42%
- 5 Years
- 49%
- 3 Years
- 12%
- TTM
- —
- 10 Years
- 11%
- 5 Years
- 17%
- 3 Years
- 16%
- TTM
- —
P/E and EPS over time
Daily P/E and trailing 12-month EPS. EPS updates with each result.
Peers
Listed companies in the same business.
| Usha Martin | ₹ 463.95 | ₹ 14,018 Cr. | 25.7x | 4.3x | 15% | — |
| JSW Steel | ₹ 1,187.00 | ₹ 2,90,275 Cr. | 41.6x | 3x | — | 14.8% |
| Lloyds Metals And Energy | ₹ 1,780.40 | ₹ 1,00,195 Cr. | 27.8x | 7.6x | 36.2% | 22.4% |
| Jindal Steel | ₹ 1,012.00 | ₹ 1,04,634 Cr. | 25.9x | 2.1x | 6.9% | 6.3% |
| Jindal Stainless | ₹ 684.00 | ₹ 56,394 Cr. | 18.8x | 3.1x | 17.5% | 7.4% |
| Welspun Corp | ₹ 2,402.00 | ₹ 63,363 Cr. | 25.9x | 4.6x | 19.4% | 9.7% |
Management
- Abhijit Paul
- Chief Financial Officer
- Sharng Bhrit Prasanna Bhanu Pratap Narayan Sharma
- Senior Vice President - Manufacturing, Whole-Time Director
- Manish Agarwal
- Compliance Officer, Company Secretary
- Rajeev Jhawar
- Managing Director, Executive Director
- Chirantan Chatterjee
- Whole-Time Director
Prices are delayed and for information only. Nothing on this page is investment advice.