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.
Q3 FY26 Earnings Results
- Revenue from Operations: ₹917 cr, +6.6% YoY vs ₹861 cr, +1% QoQ; driven by strong demand in wire ropes (+6% YoY), wires (+14% YoY), offset by LRPC decline; 9M revenue ₹2,712 cr (+5% YoY).
- EBITDA: Operating EBITDA ₹176 cr, +23.3% YoY vs ₹143 cr, margin 19.2% (+260 bps YoY); cost control, value-added products, pricing power aided.
- PAT: ₹108 cr, +16.7% YoY vs ₹92 cr, +16% YoY; PBT ₹151 cr (+28% YoY); 9M PAT ₹318 cr (+4% YoY); EPS ₹3.53 (+16% YoY).
- Other key metrics: Net cash ₹198 cr (from debt repayment), ROCE 19.8%; 9M EBITDA ₹494 cr (+8% YoY); customer relationships strengthened.
Management Commentary & Strategic Decisions
- Healthy performance with EBITDA/profit growth despite modest revenue; focus on custom solutions, cost control.
- Strategic moves: Direct end-customer ties, custom products; strong cash flows, balance sheet.
Q2 FY26 Earnings Results
- Revenue from Operations: ₹908 cr, +1.8% YoY vs ₹891 cr, +2.3% QoQ; wire rope 74%, wires +14% YoY.
- EBITDA: ₹173 cr, +7.6% YoY, margin 19.1% (+110 bps YoY); OCF ₹390 cr (123% EBITDA conversion).
- PAT: ₹110 cr (+1% YoY), PBT ₹168 cr (+19% YoY); net cash ₹111 cr after ₹157 cr debt repayment.
- Other key metrics: H1 ROCE 20.3%; debt reduction focus.
Management Commentary Q2
- Margin expansion offset modest revenue; pricing/efficiency gains.
- Strategic moves: Debt reduction to net cash; H2 growth expected.
To view the company’s previous earnings and latest concall transcripts, click here to visit the Alphastreet India news channel.