Usha Martin Limited USHAMART NIFTY_SMALLNSEINFRA

Basic Materials · Steel · India

https://www.ushamartin.com

Usha Martin Limited, together with its subsidiaries, manufactures and sells steel wires, strands, wire ropes, and cord related accessories in India and internationally. The company offers wire ropes, including crane, mining, elevator, oil and offshore, fishing, general engineering, aerial transportation, structural, and forestry ropes, as well as conveyor cord. It also provides spring, welding, fencing, ACSR, needle, mesh, fishhook, CHQ, spoke, and brush wires; LRPC strands comprising compacted, indented, un-bonded polymer coated, bonded polymer LRPC strands; and wire drawing and related machines. In addition, the company offers pre-tensioning, and post-tensioning solutions; pre-stressing solutions; anchorage accessories and equipment, hydraulic jacks, powerpacks, and grout pumps and agitators; and pre-stressing machines and accessories, as well as installation services. Further, it provides optical fiber, aerial cables, micro ducts, hybrid category, FTTH/drop, aerial copper, duct copper, and jelly filled copper cables. The company was formerly known as Usha Beltron Limited and changed its name to Usha Martin Limited in May 2003. The company was founded in 1960 and is based in Kolkata, India.

Market & Price

Market Cap

₹15,404.18 Cr

Current Price

₹506.05

High / Low (52W)

₹510.45 / ₹303.72

Beta

0.15

Valuation

Stock P/E

35.22

Industry PE

23.81

Forward P/E

22.10

PEG Ratio

Book Value

₹108.35

Price to Book

4.67

P/S

4.17

EV/EBITDA

21.52

Dividend Yield

0.59%

Profitability & Returns

ROCE

18.13%

ROE

16.23%

ROA

9.25%

Profit Margin

12.62%

Op Margin

18.41%

EPS (Latest Qtr)

₹3.53

EPS (TTM)

₹14.37

Balance Sheet & Liquidity

Debt/Equity

0.07

Quick Ratio

1.61

Current Ratio

3.28

Debt

₹228.57 Cr

Total Assets

₹3,747.94 Cr

Current Assets

₹1,984.12 Cr

Working Capital

₹1,289.14 Cr

Ownership

Promoter Holding

40.42%

Chg in Prom Hold

FII / Inst Holding

27.41%

Chg in FII Hold

Financial Snapshot

Enterprise Value

₹15,172.40 Cr

Total Revenue (TTM)

₹3,691.06 Cr

EBITDA

₹705.08 Cr

Free Cash Flow

₹251.82 Cr

Operating Cash Flow

₹655.34 Cr

Shares Outstanding

₹30.44 Cr

Gross Margin

49.41%

Payout Ratio

20.91%

Growth (CAGR)

Revenue 5Y

8.84%

Profit 5Y

11.83%

Revenue (YoY)

9.30%

Earnings (YoY)

45.80%

PROS

Profit CAGR of 11.8% over 5 years.
Generates positive free cash flow.
In a confirmed uptrend (50-DMA above 200-DMA).

CONS

No notable concerns flagged.

* The pros and cons are auto-generated from financial metrics.

Price Chart

NSE TradingView Screener.in

Fundamental Growth

Period: Metric:

Figures from the latest reported periods. CAGR is computed across the displayed window (quarterly CAGR is annualised assuming 4 quarters per year).

Peer comparison

Peer companies in the same sector (Basic Materials).

#	Name	CMP ₹	P/E	Mkt Cap	Div Yld %	ROCE %	ROE %	Rev CAGR 5Y %	Profit CAGR 5Y %
1	USHAMART Usha Martin Limited NIFTY_SMALLNSEINFRA	506.05	35.22	₹15,404.18 Cr	0.59%	18.13%	16.23%	8.84%	11.83%
2	ULTRACEMCO UltraTech Cement Limited NIFTY50NSEINFRA	11,482.00	41.32	₹3.38 L Cr	0.67%	11.90%	10.59%	12.40%	17.26%
3	JSWSTEEL JSW Steel Limited NIFTY50NSEAIINFRA	1,278.00	14.01	₹3.12 L Cr	0.56%	19.15%	27.26%	3.61%	75.28%
4	HINDZINC Hindustan Zinc Limited NSEINFRA	632.95	19.34	₹2.67 L Cr	3.32%	62.35%	76.94%	5.61%	9.58%
5	TATASTEEL Tata Steel Limited NIFTY50NSEAIINFRA	208.02	28.34	₹2.59 L Cr	1.92%	11.32%	11.16%	-1.59%	7.21%
6	HINDALCO Hindalco Industries Limited NIFTY50NSEAIINFRA	1,126.70	18.73	₹2.52 L Cr	0.44%	9.50%	10.29%	7.40%	9.87%
7	GRASIM Grasim Industries Limited NIFTY50NSEINFRA	3,122.40	42.74	₹2.12 L Cr	0.32%	4.00%	6.29%	14.63%	-10.06%
8	SOLARINDS Solar Industries India Limited NSEINFRA	18,247.00	98.04	₹1.65 L Cr	0.06%	29.51%	31.33%	13.27%	30.36%
9	PIDILITIND Pidilite Industries Limited NSEINFRA	1,482.80	61.73	₹1.51 L Cr	0.67%	28.48%	23.52%	7.50%	24.36%

Quarterly Results

Figures in INR.

Metric	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025
Revenue	860.54 Cr	860.54 Cr	805.19 Cr	887.19 Cr	917.05 Cr
Cost of Revenue	432.87 Cr	432.87 Cr	553.00 Cr	463.12 Cr	464.89 Cr
Gross Profit	427.67 Cr	427.67 Cr	252.19 Cr	424.07 Cr	452.16 Cr
Operating Expenses	310.56 Cr	310.56 Cr	133.58 Cr	308.15 Cr	305.03 Cr
Operating Income	117.11 Cr	117.11 Cr	118.61 Cr	115.92 Cr	147.13 Cr
EBITDA	151.86 Cr	151.86 Cr	164.64 Cr	164.57 Cr	171.34 Cr
Interest Expense	8.67 Cr	8.67 Cr	3.76 Cr	6.25 Cr	4.77 Cr
Pretax Income	117.62 Cr	117.62 Cr	133.12 Cr	129.63 Cr	137.76 Cr
Tax Provision	25.36 Cr	25.36 Cr	32.21 Cr	28.82 Cr	30.09 Cr
Net Income	92.57 Cr	92.57 Cr	100.99 Cr	100.93 Cr	107.55 Cr
Diluted EPS	3.04	3.04	-	3.31	3.53

Profit & Loss (Annual)

Figures in INR.

Metric	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Revenue	2,623.78 Cr	3,187.36 Cr	3,137.99 Cr	3,383.27 Cr
Cost of Revenue	1,530.24 Cr	1,856.88 Cr	1,696.23 Cr	1,820.05 Cr
Gross Profit	1,093.54 Cr	1,330.48 Cr	1,441.76 Cr	1,563.22 Cr
Operating Expenses	764.87 Cr	876.33 Cr	913.69 Cr	1,057.22 Cr
Operating Income	328.67 Cr	454.15 Cr	528.07 Cr	506.00 Cr
EBITDA	454.40 Cr	550.98 Cr	647.99 Cr	651.48 Cr
Interest Expense	38.37 Cr	28.12 Cr	21.48 Cr	26.77 Cr
Pretax Income	346.28 Cr	455.38 Cr	549.51 Cr	526.85 Cr
Tax Provision	54.85 Cr	104.78 Cr	125.39 Cr	120.53 Cr
Net Income	291.27 Cr	350.14 Cr	423.96 Cr	407.39 Cr
Diluted EPS	9.56	11.51	13.92	13.37

Compounded Sales Growth

5 Years:	8.84%
1 Year:	9.30%

Compounded Profit Growth

5 Years:	11.83%
1 Year:	45.80%

Stock Price Performance

1 Year:	+64.41%
6 Months:	+22.66%
3 Months:	+24.63%
1 Month:	+12.01%

Balance Sheet (Annual)

Figures in INR.

Metric	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Total Assets	2,742.88 Cr	3,086.83 Cr	3,330.13 Cr	3,747.94 Cr
Current Assets	1,589.51 Cr	1,749.36 Cr	1,789.06 Cr	1,984.12 Cr
Cash & Equivalents	154.38 Cr	150.16 Cr	149.78 Cr	260.72 Cr
Inventory	797.43 Cr	889.93 Cr	889.62 Cr	984.91 Cr
Receivables	414.09 Cr	499.89 Cr	539.31 Cr	527.63 Cr
Total Liabilities	1,045.58 Cr	1,051.76 Cr	946.22 Cr	996.23 Cr
Current Liabilities	704.87 Cr	709.17 Cr	615.88 Cr	694.98 Cr
Long Term Debt	188.54 Cr	197.29 Cr	200.18 Cr	145.40 Cr
Total Debt	411.39 Cr	416.54 Cr	363.83 Cr	416.71 Cr
Total Equity	1,693.67 Cr	2,030.76 Cr	2,379.67 Cr	2,751.88 Cr
Shares Outstanding	30.47 Cr	30.47 Cr	30.47 Cr	30.47 Cr

Cash Flows (Annual)

Figures in INR.

Metric	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Operating Cash Flow	158.57 Cr	251.59 Cr	443.84 Cr	421.76 Cr
Investing Cash Flow	55.74 Cr	-157.69 Cr	-287.93 Cr	-223.24 Cr
Financing Cash Flow	-160.59 Cr	-101.09 Cr	-159.33 Cr	-91.49 Cr
Capital Expenditure	-51.12 Cr	-182.33 Cr	-277.62 Cr	-244.65 Cr
Free Cash Flow	107.45 Cr	69.26 Cr	166.22 Cr	177.11 Cr
Net Change in Cash	53.72 Cr	-7.19 Cr	-3.42 Cr	107.03 Cr

Ratios (Annual)

Figures in %.

Metric	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Gross Margin %	41.7%	41.7%	45.9%	46.2%
Operating Margin %	12.5%	14.2%	16.8%	15.0%
Net Margin %	11.1%	11.0%	13.5%	12.0%
ROE %	17.2%	17.2%	17.8%	14.8%
ROCE %	16.1%	19.1%	19.5%	16.6%

Shareholding Pattern

Insiders

40.42%

Institutions

27.41%

Public Float

46.01%

Analyst View

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USHAMART · Basic Materials