Want to see IN:USHAMART full AI Analyst Report?
Top Page
Usha Martin Limited
(USHAMART)
Select Model
Select Model
Rating:73Outperform
Price Target:
₹580.00
▲(28.49% Upside)
Action:Reiterated
Date:08/06/26
The score is driven primarily by strong underlying financial quality—especially the improved, low-leverage balance sheet and solid profitability—supported by a positive technical trend. These positives are tempered by a relatively expensive valuation (high P/E and low dividend yield) and some volatility in margins and cash-flow consistency.
Positive Factors
Revenue and Earnings Growth
Sustained multi-year revenue expansion and net income growth indicate broad demand for the company’s wire-rope and wire products, supporting continued scale and earnings potential over the medium term.
Negative Factors
Margin Volatility
Volatile margin mix can make earnings less predictable and may reflect changing product mix, input costs, or pricing conditions, limiting confidence in the durability of reported profitability.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue and Earnings Growth
Sustained multi-year revenue expansion and net income growth indicate broad demand for the company’s wire-rope and wire products, supporting continued scale and earnings potential over the medium term.
Read all positive factors
Usha Martin Limited (USHAMART) vs. iShares MSCI India ETF (INDA)
Market Cap
₹150.59B
Dividend Yield0.76%
Average Volume (3M)40.12K
Price to Earnings (P/E)29.7
Beta (1Y)0.99
Revenue Growth8.54%
EPS Growth25.42%
CountryIN
Employees2,206
SectorGeneral
Sector StrengthN/A
IndustrySteel
Share Statistics
EPS (TTM)16.65
Shares Outstanding304,741,800
10 Day Avg. Volume63,383
30 Day Avg. Volume40,116
Financial Highlights & Ratios
PEG Ratio1.77
Price to Book (P/B)3.61
Price to Sales (P/S)3.23
P/FCF Ratio26.04
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)20.72
Revenue Forecast (FY)₹42.69B
Usha Martin Limited Business Overview & Revenue Model
Company Description
Usha Martin Limited, an Indian enterprise founded in 1960 and headquartered in Kolkata, operates globally as a producer and supplier of a diverse range of steel wire products. The company's core business involves manufacturing and distributing ste...
How the Company Makes Money
Usha Martin makes money mainly by manufacturing and selling wire ropes and related wire products. Its core revenue stream comes from supplying steel wire ropes (including speciality and application-specific ropes) to industrial end users and distr...
Usha Martin Limited Financial Statement Overview
Summary
Income Statement
78
Positive
Balance Sheet
88
Very Positive
Cash Flow
74
Positive
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 38.37B | 36.91B | 34.74B | 32.25B | 32.68B | 26.88B |
| Gross Profit | 14.61B | 12.47B | 17.24B | 15.92B | 14.61B | 12.01B |
| EBITDA | 8.28B | 7.76B | 5.91B | 5.96B | 5.20B | 3.95B |
| Net Income | 5.07B | 4.66B | 4.07B | 4.24B | 3.50B | 2.91B |
Balance Sheet | ||||||
| Total Assets | 0.00 | 42.12B | 37.48B | 33.30B | 30.87B | 27.43B |
| Cash, Cash Equivalents and Short-Term Investments | 4.77B | 4.78B | 2.72B | 1.66B | 1.59B | 1.62B |
| Total Debt | 0.00 | 2.29B | 4.17B | 3.64B | 4.17B | 4.11B |
| Total Liabilities | -33.02B | 9.10B | 9.96B | 9.46B | 10.52B | 10.46B |
| Stockholders Equity | 33.02B | 33.02B | 27.52B | 23.80B | 20.31B | 16.94B |
Cash Flow | ||||||
| Free Cash Flow | 2.29B | 4.58B | 1.77B | 1.66B | 692.60M | 1.07B |
| Operating Cash Flow | 3.33B | 6.56B | 4.22B | 4.44B | 2.52B | 1.59B |
| Investing Cash Flow | -555.80M | -3.85B | -2.23B | -2.88B | -1.58B | 557.40M |
| Financing Cash Flow | -2.66B | -3.04B | -914.90M | -1.59B | -1.01B | -1.61B |
Usha Martin Limited Technical Analysis
Neutral
451.40
Price Trends
499.21
Negative
487.27
Positive
454.75
Positive
Market Momentum
0.42
Positive
46.70
Neutral
21.94
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:USHAMART, the sentiment is Neutral. The current price of 451.4 is below the 20-day moving average (MA) of 497.50, below the 50-day MA of 499.21, and below the 200-day MA of 454.75, indicating a neutral trend. The MACD of 0.42 indicates Positive momentum. The RSI at 46.70 is Neutral, neither overbought nor oversold. The STOCH value of 21.94 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for IN:USHAMART.
Usha Martin Limited Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
73 Outperform | ₹150.59B | 29.70 | ― | 0.76% | 8.54% | 25.42% | |
71 Outperform | ₹196.83B | 45.52 | ― | 0.36% | -16.30% | -24.14% | |
68 Neutral | ₹199.43B | 30.46 | ― | 0.64% | -8.57% | -62.05% | |
64 Neutral | ₹597.80B | 48.66 | ― | 0.40% | 9.64% | 53.35% | |
59 Neutral | ₹11.83B | 17.13 | ― | ― | -7.69% | -1.46% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
54 Neutral | ₹48.07B | 34.07 | ― | ― | 20.92% | -10.44% |
* General Sector Average
IN:USHAMART
Usha Martin Limited
494.15
110.73
28.88%
IN:APLAPOLLO
APL Apollo Tubes Limited
2,153.00
458.22
27.04%
IN:BANSALWIRE
Bansal Wire Industries Limited
307.05
-51.05
-14.26%
IN:BHARATWIRE
Bharat Wire Ropes Ltd.
172.05
4.60
2.75%
IN:JINDALSAW
Jindal Saw Limited
311.85
102.48
48.95%
IN:RATNAMANI
Ratnamani Metals & Tubes Ltd.
2,808.15
410.51
17.12%
Usha Martin Limited Corporate Events
Usha Martin Posts Strong Q1 FY27 Results on Value-Added Product Mix
Aug 3, 2026
Usha Martin Limited reported a strong start to FY27, with consolidated revenue rising 16% year-on-year to INR 1,033 crore and operating EBITDA increasing 44% to INR 208 crore, yielding an EBITDA margin of 20.1%. Management highlighted that value g...
Usha Martin Sets Date for 40th AGM, Proposes Final Dividend and Details E-Voting
Jul 28, 2026
Usha Martin has announced that its 40th Annual General Meeting will be held on 20 August 2026 via video conferencing, with the notice and the 2025-26 annual report distributed electronically and made available on its website, stock exchange portal...
Usha Martin posts robust June-quarter profits in unaudited results
Jul 28, 2026
Usha Martin Limited has published its unaudited standalone and consolidated financial results for the quarter ended 30 June 2026, as required under SEBI disclosure norms, via advertisements in national and regional newspapers and on its website. T...
Usha Martin Sets August 20 Date for 40th AGM and Dividend Record
Jul 27, 2026
Usha Martin Limited has scheduled its 40th Annual General Meeting for August 20, 2026, to be conducted via video conferencing and other audio-visual means, and has circulated the annual report for financial year 2025-26 electronically to sharehold...
Usha Martin Sets August AGM, Maps Timeline for FY26 Dividend Payout
Jul 27, 2026
Usha Martin Limited has scheduled its 40th Annual General Meeting for 20 August 2026 at 11:30 a.m. IST, to be conducted via video conferencing and other audio-visual means. The annual report and AGM notice for financial year 2025-26 are being circ...
Usha Martin streamlines AGM access, dividend compliance and investor services
Jul 27, 2026
Usha Martin Limited has notified stock exchanges that it has sent letters to shareholders without registered email addresses, directing them to access the FY 2025-26 annual report and AGM notice via the company’s website and associated links...
Usha Martin confirms SEBI dematerialisation compliance for June 2026 quarter
Jul 9, 2026
Usha Martin Limited has reported that its registrar and share transfer agent, KFin Technologies, has issued the required certificates confirming compliance with Regulation 74(5) of the SEBI (Depositories and Participants) Regulations, 2018 for the...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.