Is Usha Martin Ltd (USHAMART) a good quality company?

Past 10 year's financial track record analysis by Moneyworks4me indicates that Usha Martin Ltd is a good quality company .

Is Usha Martin Ltd (USHAMART) undervalued or overvalued?

The key valuation ratios of Usha Martin Ltd's currently when compared to its past seem to suggest it is in the Overvalued zone .

What is Usha Martin Ltd (USHAMART) share price return in the past 10 years?

Usha Martin Ltd share price has appreciated 42.7% annually (CAGR) over the past ten years.

Is Usha Martin Ltd (USHAMART) a good buy now?

The Price Trend analysis by MoneyWorks4Me indicates it is Strong which suggest that the price of Usha Martin Ltd is likely to Rise in the short term. However, please check the rating on Quality and Valuation before investing

What is the share price of Usha Martin Ltd (USHAMART)?

Company share prices are keep on changing according to the market conditions. The current trading price of Usha Martin Ltd (USHAMART) on 17-Apr-2026 16:59:59 at 16:59 is 448.60.

What is the P/E ratio of Usha Martin?

The latest standalone P/E ratio of Usha Martin as of 17-Apr-2026 is 42.37.

What is the P/B ratio of Usha Martin Ltd (USHAMART)?

The latest standalone P/B ratio of Usha Martin Ltd (USHAMART) as of 17-Apr-2026 is 8.16.

What is the 52-week high and low of Usha Martin Ltd (USHAMART)?

The 52-week high of Usha Martin Ltd (USHAMART) is Rs. 497.50 and the 52-week low is Rs. 281.20.

Usha Martin Ltd (USHAMART) Share Analysis – Quality, Valuation Zone & Price Trend & DeciZen Rating

Name: Usha Martin Ltd (USHAMART)
Brand: Usha Martin

Key Metrics

Market Cap

₹13,587 Cr.

P/E Ratio

42.37

Price to Book (P/B)

8.16

Price to Sales (P/S)

6.13

EV/EBITDA

26.59

Return on Capital Employed (ROCE)

26.80%

Current Price

₹448.6

Return on Equity (ROE)

21.21%

Return on Assets (ROA)

14.98%

Operating Profit Margin

19.4%

Net Profit Margin

13.92%

Gross Profit Margin

20.7%

Book Value per Share

₹54.6

Sales Growth (YoY)

6.11%

Sales Growth (3 Years)

6.25%

Operating Profit Growth (1 Year)

5.41%

Operating Profit Growth (3 Years)

20.63%

Net Profit Growth (1 Year)

-6.18%

52-Week Low / High

₹281 / 498

Net Profit Growth (3 Years)

12.67%

Dividend Yield

0.89%

Promoter Holding

40.52%

Pledged shares (%)
of Promoter's holding (%)

0.00%

Check Before You Invest

Q.1 Revenue growth of Usha Martin Ltd?

Usha Martin Ltd revenue growth is 6.1% for FY-2025 , which is below its 5 year CAGR of 9.3% , indicating slower growth.

Q.1 Promoter shareholding and pledge status of Usha Martin Ltd?

Promoters hold 40.52% of the Usha Martin Ltd, with 0.00% of their stake pledged, indicating no pledge risk.

Q.1 Revenue growth of Usha Martin Ltd vs industry peers?

Usha Martin Ltd revenue CAGR is 9.29% , compared to the industry median CAGR of 7.41% , indicating faster growth and gaining its market share.

Q.1 Which industry/sub-sector does Usha Martin Ltd belong to?

Usha Martin Ltd belongs to the Metals & Mining sector, operating specifically within the Steel & Iron Products segment.

Q.1 Stock return of Usha Martin Ltd over the last decade?

Over the last 9 year(s), the stock has delivered a CAGR of 42.7% based on the current price.

DeciZen - make an informed investing decision on Usha Martin

Based on:

Data

Overall Rating ⓘ
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1. Quality

2. Valuation ⓘ

3. Price Trend

Usha Martin stock performance

Key Ratios

Is Usha Martin Ltd an attractive stock to invest in?

10 Year X-Ray : Login to view analysis.

Analysis of Financial Track Record

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

Value Creation ⓘ

Value Creation Index Colour Code Guide ⓘ

	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24	Mar'25	TTM
ROCE % ⓘ	1.1%	4.1%	4.6%	6.8%	7.7%	17.8%	27.2%	25.8%	31.6%	26.8%	-
Value Creation Index ⓘ	-0.9	-0.7	-0.7	-0.5	-0.5	0.3	0.9	0.9	1.3	1.0	-
Growth Parameters ⓘ Growth Parameters Colour Code Guide ⓘ
Sales ⓘ	3,432	3,247	1,387	1,708	1,393	1,346	1,810	2,042	2,046	2,171	2,217
Sales YoY Gr.	-	-5.4%	-57.3%	23.2%	-18.5%	-3.4%	34.5%	12.8%	0.2%	6.1%	-
Adj EPS ⓘ	-12.7	-12	3.2	12.9	-3	3.4	6.2	7	10.3	9.9	10.5
YoY Gr.	-	NA	NA	302.8%	-123%	NA	80.5%	12.9%	47.4%	-4.5%	-
BVPS (₹) ⓘ	25.7	15	5.7	7.6	20.2	23.4	30.4	35.4	43.3	50.3	54.6
Adj Net Profit ⓘ	-386	-364	97.2	392	-90.2	105	189	213	315	301	321
Cash Flow from Ops. ⓘ	766	605	884	969	148	111	185	142	301	313	-
Debt/CF from Ops. ⓘ	5.4	6.8	4.3	3.4	2.4	2.6	0.9	1.2	0.4	0.4	-

CAGR ⓘ

CAGR Colour Code Guide ⓘ

	9 Years	5 Years	3 Years	1 Years
Sales ⓘ	-5%	9.3%	6.3%	6.1%
Adj EPS ⓘ	NA	NA	16.7%	-4.5%
BVPSⓘ	7.7%	20%	18.2%	16%
Share Price	42.7%	63.1%	27.4%	44.6%

Key Financial Parameters ⓘ

Performance Ratio Colour Code Guide ⓘ

	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24	Mar'25	TTM
Return on Equity % ⓘ	-37.9	-57.5	30.9	193.7	-21.3	15.8	23.1	21.3	26.3	21.1	20.1
Op. Profit Mgn % ⓘ	9.9	11.8	10.9	14.8	12.6	14.2	13.5	14.6	19.6	19.4	19.6
Net Profit Mgn % ⓘ	-11.3	-11.2	7	22.9	-6.5	7.8	10.5	10.5	15.4	13.9	14.5
Debt to Equity ⓘ	5.3	9	21.9	14.4	0.6	0.4	0.2	0.2	0.1	0.1	-
Working Cap Days ⓘ	198	194	489	288	219	228	171	160	178	171	75
Cash Conv. Cycle ⓘ	98	93	198	91	64	68	72	76	81	81	49

Recent Performance Summary

Latest Financials

	Standalone	Consolidated
TTM EPS (₹)	10.5	13.8
TTM Sales (₹ Cr.)	2,217	3,608
BVPS (₹) ⓘ	54.6	100.7
Reserves (₹ Cr.) ⓘ	1,634	3,038
P/BV ⓘ	8.16	4.43
PE ⓘ	42.37	32.41

From the Market
52 Week Low / High (₹)	281.20 / 497.50
All Time Low / High (₹)	0.50 / 497.50
Market Cap (₹ Cr.)	13,587
Equity (₹ Cr.)	30.5
Face Value (₹)	1
Industry PE ⓘ	26.5

Management X-Ray

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged ^*

0.00

* Pledged shares as % of Promoter's holding (%)

Valuation of Usha Martin - Standalone Basis

YTD 1Y 3Y 5Y 10Y Max

Analyst's Notes

No data found!

Key Ratios

Adj EPS (Rs.)

Sales (Cr.)

ROE (%)

ROCE (%)

Profit And Loss

(All Figures are in Crores.)

PARTICULARS	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24	Mar'25
Sales	3,432	3,247	1,387	1,708	1,393	1,346	1,810	2,042	2,046	2,171
Operating Expenses ⓘ +	3,141	2,901	1,235	1,456	1,222	1,154	1,570	1,744	1,646	1,749
Manufacturing Costs	879	802	173	194	184	156	194	248	253	280
Material Costs	1,549	1,454	880	1,057	805	786	1,078	1,184	1,076	1,135
Employee Cost	230	232	104	114	128	117	127	139	163	165
Other Costs ⓘ	482	413	78	91	105	95	171	173	153	168
Operating Profit ⓘ	291	346	152	253	171	191	240	298	400	422
Operating Profit Margin (%)	8.5%	10.6%	10.9%	14.8%	12.3%	14.2%	13.3%	14.6%	19.6%	19.4%
Other Income ⓘ +	34	117	75	30	30	14	44	31	60	41
Exceptional Items ⓘ	0	0	0	0	0	0	31	0	0	0
Interest ⓘ	531	549	76	90	58	45	31	15	7	11
Depreciation ⓘ	273	269	29	28	28	31	31	27	33	47
Profit Before Tax ⓘ	-479	-355	121	164	115	130	253	287	421	405
Tax ⓘ	-59	0	0	-235	201	25	42	74	99	103
Profit After Tax	-419	-355	121	399	-86	105	211	214	322	302
PAT Margin (%)	-12.2%	-10.9%	8.8%	23.3%	-6.2%	7.8%	11.7%	10.5%	15.7%	13.9%
Adjusted EPS (₹)	-13.8	-11.7	4.0	13.1	-2.8	3.4	6.9	7.0	10.6	9.9
Dividend Payout Ratio (%)	0%	0%	0%	0%	0%	0%	29%	36%	26%	30%

Balance Sheet

(All Figures are in Crores.)

PARTICULARS	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24	Mar'25
Equity and Liabilities
Shareholders Fund +	783	456	174	231	615	714	928	1,080	1,320	1,530
Share Capital ⓘ	31	31	31	31	31	31	31	31	31	31
Reserves ⓘ	752	425	143	200	585	684	897	1,049	1,289	1,500
Debt +	3,734	3,547	3,481	2,932	316	237	163	138	132	71
Long Term Debt	2,816	2,728	2,656	2,270	251	186	121	131	126	71
Short Term Debt	918	819	825	663	66	50	42	8	6	0
Minority Interest	0	0	0	0	0	0	0	0	0	0
Trade Payables	1,409	1,683	1,843	218	266	240	175	126	99	111
Others Liabilities ⓘ	968	1,078	933	2,400	240	273	257	347	407	366
Total Liabilities ⓘ	6,894	6,764	6,430	5,781	1,438	1,464	1,522	1,691	1,958	2,078
Fixed Assets
Net Fixed Assets ⓘ +	4,753	4,523	4,325	414	405	383	377	393	569	709
Gross Block	5,028	5,064	5,135	540	558	566	586	623	825	1,005
Accumulated Depreciation	275	541	810	126	153	183	208	229	256	296
CWIP ⓘ	68	45	29	9	30	38	36	134	126	71
Investments ⓘ	154	151	151	151	151	151	151	151	151	151
Inventories	979	1,009	872	243	229	255	296	367	311	344
Trade Receivables	453	544	558	217	182	217	247	205	286	266
Cash Equivalents	4	5	23	34	7	9	100	53	55	147
Others Assets ⓘ	483	489	472	4,714	433	411	315	387	461	389
Total Assets ⓘ	6,894	6,764	6,430	5,781	1,438	1,464	1,522	1,691	1,958	2,078

Cash Flow

(All Figures are in Crores.)

PARTICULARS	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24	Mar'25
Cash Flow From Operating Activity ⓘ +	766	605	884	969	148	111	185	142	301	313
PBT ⓘ	-479	-355	-282	-176	596	126	253	287	421	405
Adjustment ⓘ	808	772	812	813	-422	47	18	26	10	27
Changes in Working Capital ⓘ	438	185	358	336	-9	-67	-114	-101	-39	-32
Tax Paid ⓘ	-0	3	-3	-4	-17	5	28	-70	-90	-87
Cash Flow From Investing Activity ⓘ +	-289	-12	-26	-44	2,920	-11	69	-122	-173	-106
Capex	-363	-29	-27	-52	73	-16	31	-134	-209	-123
Net Investments	-0	8	-12	-15	18	1	4	-0	4	0
Others ⓘ	74	9	13	23	2,829	4	33	12	33	17
Cash Flow From Financing Activity ⓘ +	-513	-592	-852	-927	-3,072	-101	-161	-66	-124	-115
Net Proceeds from Shares ⓘ	0	0	0	0	0	0	0	0	0	0
Net Proceeds from Borrowing ⓘ	264	51	-297	-325	-2,376	-43	-123	45	-41	-3
Interest Paid ⓘ	-514	-545	-561	-555	-105	-43	-29	-15	-5	-15
Dividend Paid ⓘ	0	0	0	0	0	0	0	-61	-76	-84
Others ⓘ	-262	-99	6	-47	-590	-15	-9	-34	-2	-13
Net Cash Flow ⓘ	-35	1	6	-2	-4	-1	93	-46	4	92

Finance Ratio

PARTICULARS	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24	Mar'25
Ratios
ROE (%)	-42.39	-55.9	38.57	197.2	-20.34	15.79	25.74	21.29	26.85	21.21
ROCE (%)	1.06	4.07	4.64	6.76	7.66	17.75	27.15	25.79	31.62	26.8
Asset Turnover Ratio	0.53	0.53	0.22	0.28	0.39	0.94	1.22	1.28	1.13	1.08
PAT to CFO Conversion(x)	N/A	N/A	7.31	2.43	N/A	1.06	0.88	0.66	0.93	1.04
Working Capital Days
Receivable Days	37	50	141	82	52	54	46	40	43	46
Inventory Days	110	101	240	118	61	65	55	59	60	55
Payable Days	103	122	257	151	75	73	41	33	34	31

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Announcements

Usha Martin Ltd FAQs

The current trading price of Usha Martin on 17-Apr-2026 16:59 is ₹448.6.

Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 16-Apr-2026 the market cap of Usha Martin stood at ₹13,586.9 Cr

The latest P/E ratio of Usha Martin as of 16-Apr-2026 is 42.37.

The latest P/B ratio of Usha Martin as of 16-Apr-2026 is 8.16.

The 52-week high of Usha Martin is ₹497.5 and the 52-week low is ₹281.2.

The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Usha Martin is ₹2,217 ( Cr.) .

About Usha Martin Ltd

Usha Martin is one of the world’s leading manufacturers of wire ropes, specializing in the production of high-performance wire ropes, Low Relaxation Pre-stressed Concrete (LRPC) strands, wires, pre-stressing accessories, machinery, and optical fibre cables. Its state-of-the-art facilities are equipped with advanced machinery to produce world-class products and deliver value-added services for critical applications across various sectors, including infrastructure, ports, mining, oil & offshore, elevators, fishing, ropeways, telecommunications, automobiles, and other industrial sectors.

The company’s manufacturing excellence is driven by advanced facilities in India, Thailand, UAE and the UK, supported by a Global Development Centre in Italy. It operates service centres in India, the Netherlands, Scotland, Singapore, Dubai and Saudi Arabia, along with distribution centres in the Americas, Australia, Vietnam and Indonesia. These strategically located hubs provide localized support and ensure the smooth, timely delivery of solutions to clients across the globe.

Usha Martin’s commitment to quality is reflected in every stage of production, with rigorous testing protocols that adhere to the highest international standards. Operating in many countries, the company offers tailored, value-driven solutions backed by strong R&D and a global supply chain, ensuring it meet the evolving demands of the industries it serve while driving innovation and excellence worldwide.

Business area of the company

Usha Martin is engaged in the business of Wire and Wire ropes - manufacture and sale of steel wires, strands, wire ropes, cord, related accessories, wire drawing and allied machine, etc. The company is a public limited company incorporated and domiciled in India and is incorporated under the provisions of the Companies Act applicable in India.

Products & Solutions

Wire Rope
Wire
LRPC Strand
Prestressing
Optical Fiber Cables
Machinery

Awards/ Recognition/ Accolades

2020-21

Usha Martin Limited won the 'EEPC India National Award' for export excellence.
Brunton Wire Ropes FZCo, Dubai won the ‘Excellent Performance Award’ from DP World Port, Dubai

2021-22

Asian Leadership Award - 2021 as winner of the ‘Best-In-Class Award for Excellence in Product Quality & Services in Steel Wire Rope Industry’ from World Federation of Marketing & World Quality Congress.
BIZZ Award 2021 for ‘Business Excellency’ from the World Confederation of Businesses - WORLDCOB, USA.
CSR Excellence Award - 2020 ‘Gold Category’ for outstanding performance in ‘Community Development Program’ from Apex India Foundation.

2022-23

Awarded second prize for the best design and concept of a stall at the 9th International Mining, Equipment, Minerals & Metals Exhibition (IMME 2022) in Kolkata.
Star Performer’ Award for export excellence at the Export Awards organised by Engineering Export Promotion Council EEPC INDIA in January 2023.
Second position in technical paper presentation contest at the '38th International Value Engineering Conference,' organised by the Indian Value Engineering Society (INVEST) in Mumbai in January 2023.

2023-24

Awarded the prestigious Ellies Award 2023 for Best Supplier Ropes / Travelling Cables, by Elevator World Inc., during the National Association of Elevator Contractors (NAEC) convention in the USA.
Manufacturing facility at Hoshiarpur in Punjab was recognised by the BIS Northern Regional Office on their 77th Foundation Day for setting the highest standards in quality and performance.
Quality Assurance team was awarded Certificate of Achievement by the Bureau of Indian Standards for developing various standards applicable to steel wire and wire ropes over the last six decades.
Certificate of Appreciation received from Jharkhand’s Mini Tool Room, Department of Industries, Government of Jharkhand for empowering women in rural areas through skill development by CSR arm, Usha Martin Foundation.

2024-25

National Recognition for Excellence in Technical Paper Presentation
International Honour in Value Engineering
Usha Martin Honoured for Contribution to India's TB-free Mission

Milestones

1960: Foundation of a wire rope plant in Ranchi (India) in collaboration with Martin Black (UK).
1965: Incorporation of ISMAL in collaboration with Cable Covers Ltd., UK
1980: Incorporation of Usha Siam in Bangkok
1986: Incorporation of Usha Beltron Ltd. in Collaboration with AEG Kabel, Germany
1996: Acquisition of European Management & Marine Corp in Scotland
1996: Setting up the Distribution Center in the USA
1999: Incorporation of UM Cables at Silvassa
2000: Acquisition of Brunton Shaw UK
2000: Setting up the Distribution Center in Singapore
2003: Incorporation of Brunton Wolf Wire Ropes in UAE
2005: Acquisition of the Hoshiarpur Factory
2006: New JV with Joh Pengg in Ranchi
2007: Acquisition of De Ruiter Staalkabel in the Netherlands.
2009: Incorporation of UM Vietnam
2009: Incorporation of UM Indonesia
2012: JV with Tesac Wire Ropes Co. Ltd of Japan
2014: Setting up a new facility for Oceanmax at BSUK, England
2020: Acquisition of minority stakes in Brunton Wire Ropes
2023: Setting up a step-down subsidiary in Saudi Arabia
2024: Acquisition of the remaining 50% stake in TESAC Usha to form Usha Siam Specialty Wire Rope
2024: Setting up the Usha Martin Learning Academy (UMLA) in Ranchi
2025: Usha Martin embarked on a significant chapter in its evolution with the unveiling of a refreshed brand identity.

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Usha Martin Ltd (USHAMART) Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating

Usha Martin Share Price