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Usha Martin Limited

Usha Martin Limited

NSE: USHAMART
SteelBasic MaterialsMID CAPMCap ₹14.96k Cr
₹491.30₹8.40 (+1.74%)

Market Closed • NSE

Market cap₹14.96k Cr
Enterprise value₹14.45k Cr
P/E TTM28.11
Forward P/E21.57
P/B4.53
EPS TTM₹17.48
Forward EPS₹22.78
ROCE19.50%
D/E6.92
Dividend yield0.01%
Face value₹1.00
52W high₹542.60
52W low₹380.00
Price chart(1Y)
1Y Return:+0.99% (+₹4.80)
H: ₹542.6L: ₹460
1W+1.69%
1M-0.88%
3M-1.78%
6M+11.91%
1Y+7.91%
Today at a glance

Day range

₹481.00₹495.00

52 week range

₹380.00₹542.60
Volume585.4K0.61x 20D avg
Free float50.00%-38.60% volume

Usha Martin Limited closed at INR491.30 (+1.74%) on volume 0.61x its 20-day average, trading 9.45% below its 52-week high.

Technical analysis
RSI (14)45.4Neutral (30–70)
MACDBEARISHBearish (Below signal)
ATR (14)₹15.40High
SMA 20₹506.55BEARISH
SMA 50₹501.20BEARISH
SMA 100₹499.15BEARISH
SMA 200₹466.21BULLISH
CPR bottom₹483.50
Pivot₹483.30
CPR top₹483.10
What changed recently?

2026-Q2

Q2 FY2026 Financial Results

PAT moved -4.1% QoQ

2026-08-13

DIVIDEND Announced

Dividend - Rs 3.75 Per Share

2025-07-31

DIVIDEND Announced

Dividend - Rs 3 Per Share

Shariah audit
Methodology: AAOIFI Shariah Standard No. 21
PASS4/4 criteria
Shariah Compliant
CriteriaNumeratorDenominatorValueThresholdStatus
Interest-bearing debt ratio₹228.6 Cr₹14.96k Cr1.53%≤ 33%PASS
Non-halal income ratio–₹3.69k Cr0.00%≤ 5%PASS
Illiquid assets ratio₹3.97k Cr₹4.21k Cr94.26%≥ 20%PASS
Receivables ratio–₹4.21k Cr—≤ 49%PASS
Valuation & sector context
MetricCompanySector
P/E28.1121.90
Forward P/E21.57—
P/B4.532.20
EV/EBITDA—18.00
PEG—1.00
Earnings yield3.604.60
Growth & profitability
RevenuePAT
FY24PAT margin 13.10%
FY25PAT margin 11.70%
FY26PAT margin 12.60%

Revenue and PAT bars use independent scales to make their year-on-year direction readable.

Revenue CAGR 3Y+2.00%
Revenue CAGR 5Y+3.30%
PAT CAGR 3Y+4.70%
PAT CAGR 5Y+1.90%
Operating margin16.89%
Net margin13.21%
Financial health & cash flow
Net debt–Moderate
Interest coverage30.00xEBIT / interest
CFO / PAT1.29x3Y average
Net debt / EBITDA—Leverage
Operating cash flow₹655.3 Cr
Capital expenditure–
Free cash flow₹457.3 Cr
Financial statements

Complete reported financial history · Values use the company's reporting currency

Hover over the chart for exact reported values. Percentage lines use the right-hand axis.

Fundamental scorecard
Overall78/100
Valuation60/100
Profitability80/100
Financial health95/100

A 0–100 quantitative summary of reported fundamentals. Use the underlying financials and risks for context; the score is not a buy or sell recommendation.

Strengths, risks & investment thesis

Strengths

Strong Capital Efficiency: ROCE stands at 19.5%

Low Debt Profile: Debt-to-Equity is comfortable at 0.07x

High Cash Flow Conversion: CFO/PAT averaged 1.29x over last 3 years

Risks

Subject to cyclical raw material and macro industry pressures

Bull case

Market Leadership: Established operational scale in Steel.

Bear case

Macro Headwinds: Fluctuations in interest rates and sector-specific policy shifts could compress multiples.

Flip condition

Sustained quarterly EBITDA margin expansion above 20% would trigger an upgrade.

Shareholding pattern
Quarterly ownership historyLatest valid period · December 2025

Ownership distribution

Dec 2025Latest holding

Category trends

Hover over a period for exact holdings

60%40%20%0%Sept 2024Dec 2024Jun 2025Sept 2025Dec 2025
29.58%Institutional holding
29.80%Public holding
5Periods available
0.00%Promoter pledged
1.01LShareholders
Corporate Action

Complete dividend, bonus, split, rights and other action history

Record dateCorporate actionInformationAnnouncement dateEx-date
13 Aug 2026Dividend₹3.75 / share—13 Aug 2026
31 Jul 2025Dividend₹3.00 / share—31 Jul 2025
—Annual General MeetingAnnual General Meeting—06 Aug 2024
06 Aug 2024Dividend₹2.75 / share—06 Aug 2024
03 Aug 2023Dividend₹2.50 / share—03 Aug 2023
—Annual General MeetingAnnual General Meeting—03 Aug 2023
—Dividend₹2.00 / share—20 Jul 2022
—Annual General MeetingAnnual General Meeting—03 Aug 2021
—Annual General MeetingAnnual General Meeting—15 Sept 2020
—Annual General MeetingAnnual General Meeting—12 Sept 2019
—Annual General MeetingAnnual General Meeting—07 Sept 2018
—Annual General MeetingAnnual General Meeting—12 Sept 2017
—Annual General MeetingAnnual General Meeting—29 Jul 2016
—Annual General MeetingAnnual General Meeting—21 Jul 2015
Delivery participation

Traded volume and delivery percentage across the latest 20 sessions

Average delivery (20D)51.99%+3.09% latest vs average
Highest delivery78.93%on 09 Oct
Average volume (20D)952.9KTrading-session average
Conviction trendStrengthening+3.09% latest reading
Traded volumeDelivery %
Peer comparison

Compare valuation, latest quarterly performance and year-on-year growth

8 companies
Company nameMarket cap ₹ CrP/E ratioDividend yield %Quarterly sales ₹ CrProfit after tax ₹ CrSales growth %Profit growth %
UltraTech Cement Limited
UltraTech Cement LimitedULTRACEMCO
Open analysis
₹3.21L37.592.21%₹25,799.47₹2,982.76+11.86%+20.17%
JSW Steel Limited
JSW Steel LimitedJSWSTEEL
Open analysis
₹2.97L12.050.59%₹47,364.00₹4,651.00+11.55%+112.96%
Hindustan Zinc Limited
Hindustan Zinc LimitedHINDZINC
Open analysis
₹2.28L13.372.07%₹13,687.00₹5,425.00+77.22%+146.14%
Asian Paints Limited
Asian Paints LimitedASIANPAINT
Open analysis
₹2.24L46.941.17%₹10,541.94₹1,539.25+17.94%+39.96%
Tata Steel Limited
Tata Steel LimitedTATASTEEL
Open analysis
₹2.19L19.832.27%₹60,794.00₹2,385.00+14.32%+18.83%
Hindalco Industries Limited
Hindalco Industries LimitedHINDALCO
Open analysis
₹2.02L12.320.56%₹84,825.00₹7,013.00+32.06%+75.15%
Grasim Industries Limited
Grasim Industries LimitedGRASIM
Open analysis
₹1.98L34.820.35%₹11,794.71₹246.65-70.60%-82.61%
Solar Industries India Limited
Solar Industries India LimitedSOLARINDS
Open analysis
₹1.81L90.930.06%₹3,668.00₹666.00+70.29%+88.67%
About Usha Martin Limited
Usha Martin Limited

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]

IndiaBasic Materials

Questions investors ask
Is Usha Martin Limited Shariah compliant?

Usha Martin Limited is currently screened as Shariah Compliant under AAOIFI Shariah Standard No. 21. Business activities align with Shariah permissible sectors. Debt to Market Cap (1.53%) complies with AAOIFI threshold (≤ 33%).

What is Usha Martin Limited's current valuation relative to peers?

Usha Martin Limited trades at a P/E of 28.1x compared to the sector median of 21.9x, and a Price-to-Book of 4.5x.

Is the company financially healthy?

The company has a Debt-to-Equity ratio of 0.07x. Interest coverage is 30x.

What are the historical revenue and profit growth rates?

Over the past 5 years, revenue compounded at 3.3% while net profit growth averaged 1.9%.

Market data is informational and may be delayed. Shariah screening follows the displayed methodology. This is not investment advice.

Market data may be delayed. Quote date: 2026-10-16. Financial figures relate to their stated reporting periods. This information is for research and is not a recommendation to buy or sell.