Usha Martin Ltd
Usha Martin Ltd (USHAMART) last reported results for the quarter ended Jun 2026, with sales of ₹1,033 crore and net profit of ₹142 crore. The stock last traded at ₹502, a market capitalisation of ₹15,304 crore, on a P/E of 28.1. Over the past 52 weeks the stock has ranged between ₹379 and ₹543. Figures are as of 9 Oct 2026 and are not real time.
Usha Martin Ltd share price and key metrics
- Current price
- ₹502
- Market cap
- ₹15,304 cr
- Stock P/E
- 28.1
- Book value
- ₹108
- ROE
- 15.1%
- ROCE
- 19.5%
- Dividend yield
- 0.75%
- 52w high / low
- 543/379
Metrics as of 9 Oct 2026. Not real time.
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Usha Martin Ltd growth and returns
- 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
- 41%
- 3 Years
- 15%
- 1 Year
- 4%
- 10 Years
- 11%
- 5 Years
- 17%
- 3 Years
- 16%
- Last Year
- 15%
Usha Martin Ltd quarterly results
In the quarter ended Jun 2026, sales were ₹1,033 cr, up 16.5% from ₹887 cr a year earlier. Net profit was ₹142 cr, up 40.6% year on year.
| ₹ crore | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Sales | 891 | 861 | 896 | 887 | 908 | 917 | 979 | 1,033 |
| Expenses | 730 | 718 | 757 | 743 | 735 | 741 | 768 | 825 |
| Operating profit | 161 | 143 | 140 | 145 | 173 | 176 | 212 | 208 |
| OPM % | 18% | 17% | 16% | 16% | 19% | 19% | 22% | 20% |
| Other income | 11 | 9 | 28 | 20 | 10 | -5 | 21 | 14 |
| Interest | 8 | 9 | 7 | 6 | 5 | 5 | 4 | 4 |
| Depreciation | 23 | 26 | 28 | 29 | 28 | 29 | 31 | 34 |
| Profit before tax | 141 | 118 | 133 | 130 | 150 | 138 | 197 | 184 |
| Tax % | 23% | 22% | 24% | 22% | 27% | 22% | 25% | 23% |
| Net profit | 109 | 92 | 101 | 101 | 110 | 108 | 148 | 142 |
| EPS (₹) | 3.60 | 3.04 | 3.31 | 3.31 | 3.60 | 3.53 | 4.85 | 4.66 |
Consolidated figures as reported by the company. Percentages are as published; totals may not sum exactly.
Usha Martin Ltd annual results
| ₹ crore | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 3,882 | 2,066 | 2,488 | 2,154 | 2,097 | 2,688 | 3,268 | 3,225 | 3,474 | 3,691 | 3,837 |
| Operating profit | 389 | -188 | -24 | 232 | 284 | 384 | 513 | 599 | 597 | 705 | 768 |
| OPM % | 10% | -9% | -1.0% | 11% | 14% | 14% | 16% | 19% | 17% | 19% | 20% |
| Net profit | -358 | -268 | 49 | 421 | 152 | 291 | 351 | 424 | 406 | 466 | 508 |
| EPS (₹) | -11.78 | -8.90 | 1.57 | 13.74 | 4.91 | 9.56 | 11.49 | 13.91 | 13.37 | 15.29 | 16.64 |
TTM is the trailing twelve months to the most recent quarter.
Usha Martin Ltd balance sheet
| ₹ crore | 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 |
| Reserves | 914 | 697 | 751 | 1,197 | 1,373 | 1,663 | 2,000 | 2,349 | 2,721 | 3,271 |
| Borrowings | 4,364 | 4,073 | 3,565 | 620 | 530 | 411 | 417 | 364 | 417 | 229 |
| Other liabilities | 2,423 | 2,646 | 2,645 | 696 | 649 | 625 | 627 | 570 | 563 | 672 |
| Total liabilities | 7,731 | 7,445 | 6,992 | 2,544 | 2,582 | 2,730 | 3,075 | 3,313 | 3,731 | 4,202 |
| Fixed assets | 5,031 | 4,862 | 935 | 956 | 932 | 913 | 952 | 1,153 | 1,406 | 1,625 |
| CWIP | 121 | 113 | 13 | 33 | 45 | 38 | 139 | 166 | 118 | 89 |
| Investments | 37 | 39 | 42 | 44 | 48 | 56 | 66 | 56 | 68 | 79 |
| Other assets | 2,542 | 2,432 | 6,001 | 1,511 | 1,557 | 1,722 | 1,917 | 1,938 | 2,140 | 2,410 |
| Total assets | 7,731 | 7,445 | 6,992 | 2,544 | 2,582 | 2,730 | 3,075 | 3,313 | 3,731 | 4,202 |
As reported by the company. Total assets equal total liabilities by construction.
Usha Martin Ltd cash flow
| ₹ crore | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | 686 | 914 | 974 | 212 | 214 | 159 | 252 | 444 | 422 | 655 |
| Cash from investing | -29 | -35 | -3 | 2,942 | -34 | 57 | -155 | -285 | -219 | -353 |
| Cash from financing | -663 | -872 | -973 | -3,105 | -177 | -161 | -101 | -159 | -91 | -321 |
| Net cash flow | -5 | 7 | -2 | 50 | 2 | 55 | -4 | -0 | 111 | -19 |
| Free cash flow | 640 | 873 | 981 | 207 | 178 | 165 | 90 | 168 | 191 | 489 |
| CFO / operating profit | 177% | -491% | -4,116% | 103% | 77% | 38% | 67% | 94% | 91% | 104% |
Negative figures are outflows. CFO / operating profit is a ratio, not an amount.
Usha Martin Ltd operating ratios
| Per year | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| ROCE % | 3% | -4% | -1% | 7% | 13% | 18% | 21% | 22% | 19% | 19% |
| Debtor days | 64 | 119 | 48 | 51 | 57 | 56 | 56 | 61 | 55 | 64 |
| Inventory days | 261 | 350 | 156 | 183 | 209 | 196 | 180 | 199 | 205 | 187 |
| Days payable | 362 | 561 | 78 | 108 | 113 | 72 | 60 | 56 | 56 | 61 |
| Cash conversion cycle | -37 | -92 | 126 | 126 | 153 | 180 | 175 | 204 | 205 | 190 |
| Working capital days | -138 | -288 | -106 | 56 | 78 | 98 | 98 | 114 | 107 | 109 |
Ratios as computed by the source from the reported statements. Rows a company does not report are omitted.
Usha Martin Ltd shareholding pattern
Promoters held 40.28% at Jun 2026, down from 42.45% at Jun 2025. FIIs 15.10% and DIIs 15.26%.
| % held | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Promoters | 43.54% | 43.48% | 43.90% | 42.45% | 41.75% | 40.52% | 40.52% | 40.28% |
| FIIs | 14.61% | 14.29% | 14.25% | 14.29% | 14.14% | 14.62% | 14.77% | 15.10% |
| DIIs | 7.44% | 8.14% | 9.25% | 11.06% | 12.29% | 14.11% | 14.81% | 15.26% |
| Public | 34.40% | 34.08% | 32.53% | 32.15% | 31.74% | 30.63% | 29.80% | 29.24% |
| No. of shareholders | 1,11,193 | 1,50,403 | 1,18,564 | 1,14,349 | 1,04,821 | 1,04,397 | 1,01,177 | 1,04,425 |
As disclosed by the company to the exchanges. The last row is a count of shareholders, not a percentage.
Usha Martin Ltd corporate filings
- Usha Martin Ltd publishes newspaper notice on 'Special Window for Transfer and Dematerialization of Physical Securities' on October 6, 2026Company Updatelow impact
Cruxal's analysis: The company announced a newspaper publication regarding the 'Special Window for Transfer…
Read the full analysis - The Trading Window for dealing in securities of the Company shall remain closed for Designated Persons and their Immediate Relatives with effect from 1st October 2026 till the expiry of ....Insider Trading / SASTlow impact
- Usha Martin Ltd executes Business Transfer Agreement for sale of U M Cables LimitedCompany Updatelow impact
Cruxal's analysis: Usha Martin Ltd has formally executed a Business Transfer Agreement on September 25…
Read the full analysis - Usha Martin to divest U M Cables Limited to R R Kabel for INR 77 crore to sharpen focus on core wire and wire ropes businessOthersmedium impact
Cruxal's analysis: Usha Martin Limited has announced the divestment of its wholly owned subsidiary, U M…
Read the full analysis - Usha Martin Ltd discloses voluntary ESG rating from SES ESG Research Private LimitedCompany Updatelow impact
Cruxal's analysis: Usha Martin Ltd has voluntarily disclosed an ESG rating assigned by SES ESG Research…
Read the full analysis - Usha Martin Ltd schedules analyst and institutional investor meetingsCompany Updatelow impact
Cruxal's analysis: Usha Martin Ltd has issued an intimation regarding upcoming meetings with analysts and…
Read the full analysis - Peterhouse Investments Limited Divests 2 Lakh Equity Shares of Usha Martin LimitedInsider Trading / SASTlow impact
Cruxal's analysis: Usha Martin Limited has reported a sale of 2 lakh equity shares by promoter-group entity…
Read the full analysis - Nidhi Rajgarhia, Promoter of Usha Martin Limited, Discloses Sale of 24,000 Equity SharesInsider Trading / SASTlow impact
Cruxal's analysis: Nidhi Rajgarhia, a member of the promoter group of Usha Martin Limited, has sold 24,000…
Read the full analysis - Usha Martin Ltd schedules physical meeting with analysts and institutional investorsCompany Updatelow impact
Cruxal's analysis: Usha Martin Ltd has announced a physical meeting with analysts and institutional…
Read the full analysis - Peterhouse Investments Limited reduces stake in Usha Martin Limited via open market saleInsider Trading / SASTlow impact
Cruxal's analysis: Usha Martin Limited has disclosed that promoter group entity, Peterhouse Investments…
Read the full analysis - Usha Martin Ltd schedules physical meeting with analysts and institutional investorsCompany Updatelow impact
Cruxal's analysis: Usha Martin Ltd has announced a physical meeting with analysts and institutional…
Read the full analysis - Usha Martin Ltd discloses voluntary ESG and Core ESG ratings assigned by CrisilCompany Updatelow impact
Cruxal's analysis: Usha Martin Ltd has voluntarily disclosed its ESG Rating and Core ESG Rating assigned by…
Read the full analysis - Usha Martin Limited Successfully Concludes 40th AGM; Shareholders Approve All Resolutions Including Final Dividend of INR 3.75 Per ShareAGM/EGMlow impact
Cruxal's analysis: Usha Martin Limited has successfully concluded its 40th Annual General Meeting held on…
Read the full analysis - Usha Martin Limited Concludes 40th AGM; Declares Dividend of INR 3.75 per ShareAGM/EGMlow impact
Cruxal's analysis: Usha Martin Limited has successfully concluded its 40th Annual General Meeting held on…
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