About
Usha Martin Limited, together with its subsidiaries, manufactures and sells steel wires, strands, wire ropes, wire drawing and allied machine, cord, and 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 cords. It also provides spring, welding, fencing, ACSR, needle, mesh, fishhook, CHQ, spoke, and brush wires; LRPC strands comprising compacted, indented, un-bonded polymer coated, and bonded polymer LRPC strands; and wire drawing, tabular stranding, planetary stranding, bunching, and wire treatment machines. In addition, the company offers pre-tensioning, and post-tensioning solutions; prestressing solutions; and optical fiber, aerial cables, micro ducts, hybrid category, FTTH/drop, aerial copper, duct copper, and jelly filled copper cables. It serves engineering, construction, infrastructure and structural, oil and offshore, crane, auto, elevator, utilities, mining, and fishing industries. 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.
Key Metrics
as of Sep 2026Market Cap15,667 Cr
P/E28.80
Div Yield0.73 %
Book Value₹108.00
52w High₹529.00
52w Low₹378.00
Face Value₹1.00
Quarterly Results
Rs. Crores · hover row for definition| Metric | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 | Jun 2024 | Mar 2024 | Dec 2023 | Sep 2023 | Jun 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 1,033.00 | 979.00 | 917.00 | 908.00 | 887.00 | 896.00 | 861.00 | 891.00 | 826.00 | 829.00 | 797.00 | 785.00 | 814.00 |
| Expenses | 825.00 | 768.00 | 741.00 | 735.00 | 743.00 | 757.00 | 718.00 | 730.00 | 672.00 | 678.00 | 640.00 | 640.00 | 669.00 |
| Operating Profit | 208.00 | 212.00 | 176.00 | 173.00 | 145.00 | 140.00 | 143.00 | 161.00 | 154.00 | 152.00 | 157.00 | 144.00 | 146.00 |
| OPM % | 20.00 | 22.00 | 19.00 | 19.00 | 16.00 | 16.00 | 17.00 | 18.00 | 19.00 | 18.00 | 20.00 | 18.00 | 18.00 |
| Other Income | 14.00 | 21.00 | -5.00 | 10.00 | 20.00 | 28.00 | 9.00 | 11.00 | 9.00 | 14.00 | 8.00 | 25.00 | 7.00 |
| Depreciation | 34.00 | 31.00 | 29.00 | 28.00 | 29.00 | 28.00 | 26.00 | 23.00 | 22.00 | 23.00 | 19.00 | 18.00 | 18.00 |
| Interest | 4.00 | 4.00 | 5.00 | 5.00 | 6.00 | 7.00 | 9.00 | 8.00 | 7.00 | 7.00 | 6.00 | 6.00 | 6.00 |
| Profit before tax | 184.00 | 197.00 | 138.00 | 150.00 | 130.00 | 133.00 | 118.00 | 141.00 | 135.00 | 136.00 | 140.00 | 144.00 | 129.00 |
| Tax % | 23.00 | 25.00 | 22.00 | 27.00 | 22.00 | 24.00 | 22.00 | 23.00 | 23.00 | 22.00 | 23.00 | 24.00 | 22.00 |
| Net Profit | 142.00 | 148.00 | 108.00 | 110.00 | 101.00 | 101.00 | 92.00 | 109.00 | 104.00 | 106.00 | 108.00 | 110.00 | 101.00 |
| EPS in Rs | 4.66 | 4.85 | 3.53 | 3.60 | 3.31 | 3.31 | 3.04 | 3.60 | 3.42 | 3.49 | 3.53 | 3.59 | 3.31 |
Profit & Loss
Annual · Rs. Crores| Metric | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 | Mar 2019 | Mar 2018 | Mar 2017 | Mar 2016 | Mar 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 3,691.00 | 3,474.00 | 3,225.00 | 3,268.00 | 2,688.00 | 2,097.00 | 2,154.00 | 2,488.00 | 2,066.00 | 3,882.00 | 4,112.00 | 4,561.00 |
| Expenses | 2,986.00 | 2,877.00 | 2,627.00 | 2,754.00 | 2,304.00 | 1,814.00 | 1,922.00 | 2,512.00 | 2,253.00 | 3,493.00 | 3,771.00 | 3,845.00 |
| Operating Profit | 705.00 | 597.00 | 599.00 | 513.00 | 384.00 | 284.00 | 232.00 | -24.00 | -188.00 | 389.00 | 341.00 | 717.00 |
| OPM % | 19.00 | 17.00 | 19.00 | 16.00 | 14.00 | 14.00 | 11.00 | -1.00 | -9.00 | 10.00 | 8.00 | 16.00 |
| Other Income | 46.00 | 57.00 | 53.00 | 40.00 | 75.00 | 24.00 | 537.00 | 17.00 | 77.00 | 120.00 | 32.00 | -63.00 |
| Interest | 20.00 | 30.00 | 25.00 | 30.00 | 42.00 | 57.00 | 74.00 | 114.00 | 92.00 | 564.00 | 547.00 | 522.00 |
| Depreciation | 116.00 | 98.00 | 77.00 | 67.00 | 70.00 | 68.00 | 64.00 | 61.00 | 60.00 | 300.00 | 308.00 | 418.00 |
| Profit before tax | 615.00 | 527.00 | 550.00 | 455.00 | 346.00 | 183.00 | 630.00 | -181.00 | -264.00 | -355.00 | -481.00 | -287.00 |
| Tax % | 24.00 | 23.00 | 23.00 | 23.00 | 16.00 | 20.00 | 33.00 | -126.00 | 2.00 | 1.00 | -11.00 | -12.00 |
| Net Profit | 466.00 | 406.00 | 424.00 | 351.00 | 291.00 | 152.00 | 421.00 | 49.00 | -268.00 | -358.00 | -428.00 | -251.00 |
| EPS in Rs | 15.29 | 13.37 | 13.91 | 11.49 | 9.56 | 4.91 | 13.74 | 1.57 | -8.90 | -11.78 | -14.10 | -8.31 |
| Dividend Payout % | 25.00 | 22.00 | 20.00 | 22.00 | 21.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Balance Sheet
Annual · Rs. Crores — latest first| Metric | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 | Mar 2019 | Mar 2018 | Mar 2017 | Mar 2016 | Mar 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 31.00 | 31.00 | 31.00 | 31.00 | 31.00 | 31.00 | 31.00 | 31.00 | 31.00 | 31.00 | 31.00 | 31.00 |
| Reserves | 3,271.00 | 2,721.00 | 2,349.00 | 2,000.00 | 1,663.00 | 1,373.00 | 1,197.00 | 751.00 | 697.00 | 914.00 | 1,323.00 | 1,728.00 |
| Borrowings | 229.00 | 417.00 | 364.00 | 417.00 | 411.00 | 530.00 | 620.00 | 3,565.00 | 4,073.00 | 4,364.00 | 4,472.00 | 3,993.00 |
| Other Liabilities | 672.00 | 563.00 | 570.00 | 627.00 | 625.00 | 649.00 | 696.00 | 2,645.00 | 2,646.00 | 2,423.00 | 2,111.00 | 2,556.00 |
| Total Liabilities | 4,202.00 | 3,731.00 | 3,313.00 | 3,075.00 | 2,730.00 | 2,582.00 | 2,544.00 | 6,992.00 | 7,445.00 | 7,731.00 | 7,936.00 | 8,307.00 |
| Fixed Assets | 1,625.00 | 1,406.00 | 1,153.00 | 952.00 | 913.00 | 932.00 | 956.00 | 935.00 | 4,862.00 | 5,031.00 | 5,302.00 | 5,477.00 |
| CWIP | 89.00 | 118.00 | 166.00 | 139.00 | 38.00 | 45.00 | 33.00 | 13.00 | 113.00 | 121.00 | 147.00 | 132.00 |
| Investments | 79.00 | 68.00 | 56.00 | 66.00 | 56.00 | 48.00 | 44.00 | 42.00 | 39.00 | 37.00 | 46.00 | 0.00 |
| Other Assets | 2,410.00 | 2,140.00 | 1,938.00 | 1,917.00 | 1,722.00 | 1,557.00 | 1,511.00 | 6,001.00 | 2,432.00 | 2,542.00 | 2,441.00 | 2,698.00 |
| Total Assets | 4,202.00 | 3,731.00 | 3,313.00 | 3,075.00 | 2,730.00 | 2,582.00 | 2,544.00 | 6,992.00 | 7,445.00 | 7,731.00 | 7,936.00 | 8,307.00 |
Cash Flows
Annual · Rs. Crores — latest first| Metric | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 | Mar 2019 | Mar 2018 | Mar 2017 | Mar 2016 | Mar 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash from Operating Activity | 655.00 | 422.00 | 444.00 | 252.00 | 159.00 | 214.00 | 212.00 | 974.00 | 914.00 | 686.00 | 856.00 | 729.00 |
| Cash from Investing Activity | -353.00 | -219.00 | -285.00 | -155.00 | 57.00 | -34.00 | 2,942.00 | -3.00 | -35.00 | -29.00 | -385.00 | -563.00 |
| Cash from Financing Activity | -321.00 | -91.00 | -159.00 | -101.00 | -161.00 | -177.00 | -3,105.00 | -973.00 | -872.00 | -663.00 | -491.00 | -266.00 |
| Net Cash Flow | -19.00 | 111.00 | 0.00 | -4.00 | 55.00 | 2.00 | 50.00 | -2.00 | 7.00 | -5.00 | -20.00 | -100.00 |
| Free Cash Flow | 489.00 | 191.00 | 168.00 | 90.00 | 165.00 | 178.00 | 207.00 | 981.00 | 873.00 | 640.00 | 471.00 | 132.00 |
| CFO/OP % | 104.00 | 91.00 | 94.00 | 67.00 | 38.00 | 77.00 | 103.00 | -4,116.00 | -491.00 | 177.00 | 253.00 | 105.00 |
Ratios
Annual · Days / % — latest first| Metric | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 | Mar 2019 | Mar 2018 | Mar 2017 | Mar 2016 | Mar 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 64.00 | 55.00 | 61.00 | 56.00 | 56.00 | 57.00 | 51.00 | 48.00 | 119.00 | 64.00 | 55.00 | 39.00 |
| Inventory Days | 187.00 | 205.00 | 199.00 | 180.00 | 196.00 | 209.00 | 183.00 | 156.00 | 350.00 | 261.00 | 241.00 | 378.00 |
| Days Payable | 61.00 | 56.00 | 56.00 | 60.00 | 72.00 | 113.00 | 108.00 | 78.00 | 561.00 | 362.00 | 288.00 | 397.00 |
| Cash Conversion Cycle | 190.00 | 205.00 | 204.00 | 175.00 | 180.00 | 153.00 | 126.00 | 126.00 | -92.00 | -37.00 | 7.00 | 20.00 |
| Working Capital Days | 109.00 | 107.00 | 114.00 | 98.00 | 98.00 | 78.00 | 56.00 | -106.00 | -288.00 | -138.00 | -96.00 | -79.00 |
| ROCE % | 19.00 | 19.00 | 22.00 | 21.00 | 18.00 | 13.00 | 7.00 | -1.00 | -4.00 | 3.00 | 1.00 | 6.00 |
Corporate Actions
26 records| Action | Ex Date | Record Date | Ratio | Amount (₹) | Notes |
|---|---|---|---|---|---|
| Dividend | 13 Aug 2026 | 13 Aug 2026 | — | 3.75 | |
| Dividend | 31 Jul 2025 | 31 Jul 2025 | — | 3.00 | |
| Dividend | 06 Aug 2024 | 06 Aug 2024 | — | 2.75 | |
| Other | 06 Aug 2024 | — | — | — | Annual General Meeting |
| Dividend | 03 Aug 2023 | 03 Aug 2023 | — | 2.50 | |
| Other | 03 Aug 2023 | — | — | — | Annual General Meeting |
| Dividend | 20 Jul 2022 | 21 Jul 2022 | — | 2.00 | |
| Other | 03 Aug 2021 | — | — | — | Annual General Meeting |
| Other | 15 Sep 2020 | — | — | — | Annual General Meeting |
| Other | 12 Sep 2019 | — | — | — | Annual General Meeting |
| Other | 07 Sep 2018 | — | — | — | Annual General Meeting |
| Other | 12 Sep 2017 | — | — | — | Annual General Meeting |
| Other | 29 Jul 2016 | — | — | — | Annual General Meeting |
| Other | 21 Jul 2015 | — | — | — | Annual General Meeting |
| Other | 17 Jun 2014 | — | — | — | Annual General Meeting |
| Dividend | 18 Jul 2013 | — | — | 0.15 | |
| Other | 19 Jul 2012 | — | — | — | Annual General Meeting |
| Dividend | 19 Jul 2011 | — | — | 1.00 | |
| Dividend | 16 Jul 2010 | — | — | 1.00 | |
| Dividend | 16 Jul 2009 | — | — | 1.00 | |
| Dividend | 14 Jul 2008 | — | — | 1.00 | |
| Split | 29 Aug 2007 | 05 Sep 2007 | 5:1 | — | |
| Dividend | 12 Jul 2007 | — | — | 3.75 | |
| Dividend | 13 Jul 2006 | — | — | 0.55 | |
| Dividend | 14 Jul 2005 | — | — | 0.30 | |
| Dividend | 07 Aug 2001 | — | — | 2.50 |
Announcements
5 filingsShareholding Pattern
Open on BSEFinancial Results — Filings
Open on BSEBoard Filings
Open on BSEAnnual Reports
Credit Ratings
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Rating update23 Jul from fitch
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Rating update30 Jul 2025 from fitch
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Rating update1 Aug 2024 from fitch
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Rating update22 Sep 2023 from fitch
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Rating update2 Aug 2023 from fitch
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Rating update5 Aug 2022 from fitch