Usha Martin Limited share price

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 machine…Read more

Website NSE BSE

Capital GoodsSteelNifty 500 Nifty Smallcap 250NSE: USHAMARTISIN INE228A01035

16 Oct 2026, 3:29 PM IST₹491.30▲ 8.40 (1.74%)

Market Cap₹ 14,955 Cr.
Current Price₹ 491.30
High / Low₹ 543 / 380
Stock P/E28.1
Book Value₹ 108
Dividend Yield0.78 %
ROCE18.7 %
ROE15.40 %
Face Value₹ 1.0

More figures (10)

EPS (TTM)₹ 17.48
Price / Book4.53
OPM16.5 %
Debt / Equity0.07
Sales growth (5Y)12.0 %
Profit growth (5Y)25.2 %
Promoter holding40.2 %
EV / EBITDA19.2
Beta0.33
All-time high₹ 543

Price chart

Price on NSE 50 DMA 200 DMA Volume

Returns	1M	3M	6M	YTD	1Y	3Y CAGR	5Y CAGR
USHAMART	+2.60%	-1.79%	+10.00%	+8.22%	+4.91%	+14.54%	+39.97%
Nifty 50	-0.31%	-3.85%	-4.34%	-11.42%	-9.53%	+5.46%	+4.76%

Price returns only (dividends not included). Prices from NSE via Yahoo Finance; may be delayed.

Quick take

Usha Martin Limited is in the Steel industry (Basic Materials), with a market value of ₹14,955 crore.
It trades at 28.1 times its last 12 months' earnings and 4.5 times book value.
Revenue grew 12.0% a year over the last 5 years, profit 25.2% a year.
Return on equity was 15.4% and return on capital employed 18.7% in the latest year.
Debt was 0.07 times shareholders' equity.
The share price is 9.5% below its 52-week high and up 4.9% over one year.
Promoters and insiders hold about 40.2%; institutions about 28.8%.

Pros

Company is almost debt-free (debt is 0.07 times equity).
Profit has grown 25.2% a year over the last 5 years.
Latest quarter (Jun 2026): sales up 16% and profit up 41% from a year ago.
Healthy return on equity of 16.8% on average over the last 3 years.
Institutional (FII + DII) holding has risen by 14.4 points over 3 years.

Cons

Promoter holding has fallen by 7.23 points over 3 years, to 40.28%.

Pros and cons are generated automatically from the reported figures. They are observations, not a recommendation to buy or sell.

AI analysis

Plenitude AI reads the figures on this page and explains them in plain language. It does not say whether to buy or sell.

About Usha Martin Limited

Employees: 2,234
Head office: Kolkata
NSE industry: Capital Goods

Peer comparison

Company	Market cap (₹ Cr)	P/E	P/B	ROE	OPM	Sales CAGR	Div. yield
Usha Martin LimitedUSHAMART	14,955	28.1	4.53	15.4%	16.5%	+4.1%	0.78%
JSW Steel LimitedJSWSTEEL	2,96,896	12.1	2.97	24.9%	12.8%	+3.6%	0.59%
Tata Steel LimitedTATASTEEL	2,18,924	19.8	2.14	11.2%	9.7%	-1.6%	2.27%
Jindal Steel LimitedJINDALSTEL	1,06,348	39.1	2.09	6.9%	13.8%	-13.1%	0.19%
Vedanta Iron and Steel LimitedVISL	11,477	—	—	54.9%	2.2%	-2.7%	0.00%
Vraj Iron and Steel LimitedVRAJ	412	11.5	0.96	7.7%	5.9%	+4.5%	0.00%
Bedmutha Industries LimitedBEDMUTHA	358	21.4	2.36	4.4%	2.4%	+28.5%	0.00%

Companies in the same industry (Steel). Tap a heading to sort. Sorting is a way to explore data, not a recommendation.

Quarterly Results

Consolidated figures in ₹ crore /

₹ Cr	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	814	785	797	829	826	891	861	896	887	908	917	979	1,033
YOY Sales Growth %	7.34%	-4.33%	-4.38%	-3.06%	1.47%	13.57%	7.96%	8.09%	7.36%	1.84%	6.57%	9.28%	16.44%
	669	640	640	678	672	730	718	757	743	735	741	768	825
Material Cost %	53%	50%	49%	50%	47%	50%	50%	54%	52%	51%	51%	49%	50%
Employee Cost %	13%	13%	13%	13%	15%	14%	13%	13%	13%	12%	12%	12%	12%
Other Expenses %	16%	18%	18%	18%	19%	19%	20%	18%	19%	18%	18%	17%	18%
Operating Profit	146	144	157	152	154	161	143	140	145	173	176	212	208
OPM %	18%	18%	20%	18%	19%	18%	17%	16%	16%	19%	19%	22%	20%
	4	21	6	9	5	7	4	24	15	23	4	27	9
Exceptional items											-13	-4
Interest	6	6	6	7	7	8	9	7	6	5	5	4	4
Depreciation	18	18	19	23	22	23	26	28	29	28	29	31	34
Profit before tax	126	141	138	132	131	137	112	129	125	163	133	200	179
	22%	25%	23%	23%	24%	23%	23%	25%	23%	25%	23%	25%	23%
Current tax	30	36	34	27	30	31	23	23	28	30	29	31	41
Deferred tax	-1	-1	-2	3	1	1	2	10	1	10	1	18	1
	101	110	108	106	104	109	92	101	101	110	108	148	142
Profit from associates	3	3	2	5	4	4	5	4	5	5	5	4	5
Minority share	0	0	0	0	-0	-0	-0	-0	-0	0	0	0	0
Profit to shareholders	101	109	108	106	104	110	93	101	101	110	108	148	142
YOY Profit Growth %	22.53%	38.67%	27.88%	0.95%	3.06%	-0.19%	-14.18%	-5.09%	-2.92%	0.45%	16.70%	46.70%	40.90%
EPS in Rs	3.31	3.59	3.53	3.49	3.42	3.59	3.04	3.32	3.31	3.61	3.53	4.85	4.66
Raw filing

₹ Cr	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	501	498	532	515	514	547	565	544	540	551	582	640	642
YOY Sales Growth %	-2.89%	-3.94%	7.23%	0.76%	2.69%	9.85%	6.27%	5.64%	5.06%	0.61%	2.87%	17.54%	18.96%
	410	399	420	418	413	442	450	444	444	436	456	474	504
Material Cost %	57%	54%	55%	54%	53%	55%	54%	56%	55%	52%	52%	49%	52%
Employee Cost %	8%	8%	8%	8%	8%	8%	7%	8%	8%	8%	8%	7%	7%
Other Expenses %	16%	18%	16%	19%	19%	17%	19%	18%	19%	19%	18%	18%	19%
Operating Profit	91	100	112	97	101	106	115	100	96	115	125	166	139
OPM %	18%	20%	21%	19%	20%	19%	20%	18%	18%	21%	22%	26%	22%
	17	30	5	8	3	12	3	23	15	30	3	25	6
Exceptional items											-13	-4
Interest	1	2	2	2	2	3	3	3	2	1	1	0	1
Depreciation	7	7	8	11	10	11	13	13	14	14	14	15	16
Profit before tax	100	120	108	92	92	104	102	107	95	130	100	172	129
	22%	24%	24%	23%	25%	25%	25%	27%	26%	25%	26%	21%	24%
Current tax	21	27	25	18	22	24	24	19	22	29	23	30	30
Deferred tax	1	3	1	3	1	2	1	10	2	3	3	7	2
	78	91	81	71	69	78	77	78	71	80	74	128	98
YOY Profit Growth %	46.12%	102.22%	56.86%	12.80%	-12.18%	-14.41%	-5.30%	9.98%	2.92%	1.87%	-3.62%	64.21%	37.72%
EPS in Rs	2.57	3.00	2.67	2.33	2.26	2.56	2.53	2.57	2.33	2.61	2.44	4.22	3.21
Raw filing

Source: the company's results filed with NSE, as reported. Tap a row marked + for its breakdown. Latest quarter on the right.

Profit & Loss

Consolidated figures in ₹ crore /

₹ Cr	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
	4,768	2,470	2,154	2,097	2,688	3,268	3,225	3,474	3,691	3,837
YOY Sales Growth %		-48.21%	-12.78%	-2.63%	28.17%	21.57%	-1.30%	7.72%	6.24%
	4,225	2,173	1,922	1,818	2,304	2,754	2,627	2,877	2,986	3,068
Material Cost %	49%	61%	57%	56%	55%	55%	51%	50%	51%	50%
Employee Cost %	8%	11%	14%	14%	12%	11%	13%	14%	12%	12%
Other Expenses %	31%	15%	18%	17%	18%	18%	18%	19%	18%	18%
Operating Profit	543	296	232	279	384	513	599	597	705	768
OPM %	11%	12%	11%	13%	14%	16%	19%	17%	19%	20%
	85	40	53	33	35	28	40	39	69	62
Exceptional items					31				-17	-17
Interest	587	114	74	57	42	30	25	30	20	17
Depreciation	305	61	64	68	70	67	77	98	116	121
Profit before tax	-264	162	147	188	338	444	537	509	621	675
		-141%	143%	19%	16%	24%	23%	24%	24%	24%
Current tax	5	10	10	9	37	103	126	108	118
Deferred tax	-0	-237	200	27	18	2	-1	13	31
	-268	49	421	152	291	351	424	406	466	508
Profit from associates	1	3	0	5	8	12	12	18	19	19
Minority share	3	1	2	2	0	0	0	-1	0	1
Profit to shareholders	-271	48	419	150	291	350	424	407	466	507
YOY Profit Growth %			754.12%	-64.02%	92.36%	20.30%	20.97%	-4.20%	14.76%
EPS in Rs	-8.90	1.57	13.75	4.91	9.56	11.51	13.92	13.37	15.30	16.65
Dividend Payout %						17%	18%	21%	20%

Compounded Sales Growth

5 Years:: 12%
3 Years:: 4%
TTM:: 9%

Compounded Profit Growth

5 Years:: 25%
3 Years:: 10%
TTM:: 26%

Stock Price CAGR

5 Years:: 40%
3 Years:: 15%
1 Year:: 5%

Return on Equity

4 Years:: 17%
Last Year:: 15%

₹ Cr	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
	4,146	1,690	1,393	1,346	1,810	2,042	2,046	2,171	2,312	2,414
YOY Sales Growth %		-59.23%	-17.62%	-3.38%	34.52%	12.80%	0.21%	6.11%	6.49%
	3,670	1,455	1,222	1,159	1,559	1,744	1,646	1,749	1,811	1,870
Material Cost %	49%	65%	60%	61%	62%	60%	55%	55%	52%	51%
Employee Cost %	6%	7%	9%	9%	7%	7%	8%	8%	8%	8%
Other Expenses %	33%	15%	18%	17%	17%	18%	18%	18%	19%	18%
Operating Profit	476	235	171	187	251	298	400	422	501	544
OPM %	11%	14%	12%	14%	14%	15%	20%	19%	22%	23%
	86	47	30	19	34	31	60	41	74	65
Exceptional items					31				-17	-17
Interest	571	90	58	45	31	15	7	11	5	3
Depreciation	274	28	28	31	31	27	33	47	57	59
Profit before tax	-282	164	115	130	253	287	421	405	496	530
		-143%	175%	19%	17%	26%	23%	25%	24%	24%
Current tax		3	2	0	26	70	90	89	104
Deferred tax		-238	199	25	17	4	8	13	14
	-282	59	395	101	211	214	322	302	353	380
YOY Profit Growth %			570.17%	-74.58%	110.22%	1.13%	50.73%	-6.18%	16.85%
EPS in Rs	-9.27	1.93	12.98	3.30	6.94	7.01	10.57	9.92	11.60	12.48
Dividend Payout %						29%	24%	28%	26%

Compounded Sales Growth

5 Years:: 11%
3 Years:: 4%
TTM:: 10%

Compounded Profit Growth

5 Years:: 29%
3 Years:: 18%
TTM:: 25%

Stock Price CAGR

5 Years:: 40%
3 Years:: 15%
1 Year:: 5%

Return on Equity

4 Years:: 17%
Last Year:: 15%

Financial years ending March; TTM = the last four quarters. Source: the company's results filed with NSE, as reported. Tap a row marked + for its breakdown. Dividend payout = dividends paid in the year ÷ net profit.

Balance Sheet

Consolidated figures in ₹ crore, as at 31 March

₹ Cr	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital	31	31	31	31
Reserves	2,000	2,349	2,721	3,271
	417	364	417	229
Long term borrowings	197	200	145	24
Short term borrowings	157	98	192	121
	640	587	579	681
Trade payables	299	248	266	311
Minority interest	4	4	-0	0
Current liabilities	709	616	695	696
Total Liabilities	3,087	3,330	3,748	4,212
	1,067	1,286	1,483	1,669
Gross block	1,545	1,825	2,124	2,447
Accumulated depreciation	478	539	641	778
Goodwill & intangibles	58	62	64	64
CWIP	176	195	140	108
	1,844	1,849	2,125	2,435
Inventories	890	890	985	958
Trade receivables	500	539	528	643
Cash & equivalents	150	150	261	242
Current assets	1,749	1,789	1,984	2,280
Total Assets	3,087	3,330	3,748	4,212

Source: Yahoo Finance (compiled from the annual reports). Tap a row marked + for its breakdown.

Cash Flows

Consolidated figures in ₹ crore, financial years ending March

₹ Cr	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	252	444	422	655
Profit for the year	350	424	407	466
Working capital changes	-208	-78	-84	-31
Direct taxes paid	-94	-117	-119	-81
	-158	-288	-223	-367
Fixed assets purchased	-182	-278	-245	-198
Fixed assets sold	20	2	14	32
Investments purchased	-2	-6	-4	-455
Investments sold		1	4	239
	-101	-159	-91	-321
Proceeds from borrowings	50	71	11
Repayment of borrowings	-62	-133	-7	-183
Interest paid	-20	-11	-30	-18
Dividends paid	-61	-76	-84	-91
Net Cash Flow	-7	-3	107	-33
Free Cash Flow	69	166	177	457

Free cash flow = cash from operations − capital expenditure. Source: Yahoo Finance.

Ratios

Ratio	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
ROE	—	17.2%	19.2%	15.9%	15.4%
ROCE	—	20.3%	21.0%	18.1%	18.7%
Operating margin	—	14.2%	16.8%	15.0%	16.5%
Net margin	—	11.0%	13.5%	12.0%	13.0%
Debt / equity	—	0.21	0.15	0.15	0.07
Current ratio	—	2.47	2.90	2.85	3.28

Computed from the reported statements: ROE on average equity; ROCE = EBIT / (total assets − current liabilities).

Shareholding Pattern

Numbers in percentages · as filed with NSE each quarter

Promoters 40.28%
FIIs 15.10%
DIIs 15.26%
Public 29.25%

%	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
Promoters	47.51%	47.41%	46.05%	45.11%	43.54%	43.48%	43.89%	42.45%	41.76%	40.52%	40.52%	40.28%
	12.04%	12.94%	14.79%	14.19%	14.61%	14.29%	14.25%	14.29%	14.15%	14.62%	14.76%	15.10%
Foreign portfolio investors (Cat. I)	11.83%	12.67%	14.46%	13.83%	14.19%	13.93%	13.89%	14.06%	13.89%	14.31%	14.47%	14.52%
Foreign portfolio investors (Cat. II)	0.20%	0.27%	0.32%	0.36%	0.42%	0.36%	0.36%	0.23%	0.25%	0.31%	0.30%	0.58%
	3.92%	3.52%	3.78%	5.08%	7.45%	8.15%	9.26%	11.06%	12.29%	14.12%	14.81%	15.26%
Mutual funds	3.81%	3.40%	3.55%	4.76%	6.94%	7.32%	8.36%	10.44%	10.90%	12.17%	12.46%	12.14%
Insurance companies				0.03%	0.04%	0.05%	0.04%	0.03%	0.03%	0.09%	0.13%	0.17%
Alternative investment funds	0.05%	0.05%	0.05%	0.09%	0.26%	0.58%	0.67%	0.41%	1.18%	1.67%	2.04%	2.58%
	36.53%	36.13%	35.38%	35.62%	34.40%	34.08%	32.53%	32.14%	31.74%	30.64%	29.80%	29.25%
Retail (up to ₹2 lakh)	13.99%	13.95%	14.50%	15.21%	15.42%	16.21%	15.17%	14.56%	13.82%	13.55%	13.17%	13.57%
HNIs (above ₹2 lakh)	7.27%	7.10%	5.88%	5.52%	3.91%	3.45%	3.08%	3.07%	2.80%	2.94%	2.73%	2.48%
NRIs	0.75%	0.68%	0.66%	0.72%	0.74%	0.98%	0.92%	0.88%	0.87%	0.88%	0.89%	0.88%
Bodies corporate	12.01%	12.58%	12.53%	12.43%	12.68%	11.81%	11.82%	12.13%	12.76%	11.71%	11.49%	10.82%
IEPF	0.39%	0.39%	0.39%	0.39%	0.38%	0.38%	0.38%	0.38%	0.38%	0.38%	0.38%	0.37%
No. of Shareholders	76,482	81,195	85,447	1,00,100	1,11,193	1,50,403	1,18,564	1,14,349	1,04,821	1,04,397	1,01,177	1,04,425

Source: shareholding patterns filed by the company with NSE. Public = non-institutional holders. Tap a row marked + for its breakdown.

Documents

Announcements

All announcements on NSE →

Annual reports

Credit ratings

Concalls & investor meets

Filings made by the company with NSE; documents open on NSE's website.

Key dates

Ex-dividend date: 13 Aug 2026
Latest quarter: 30 Jun 2026
Financial year end: 31 Mar 2026

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Questions about Usha Martin Limited

What is the share price of Usha Martin Limited today?

Usha Martin Limited (USHAMART) last traded at ₹491.30 on NSE (16 Oct 2026, 3:29 PM IST). Prices may be delayed.

What is the market cap of Usha Martin Limited?

About ₹14,955 crore at the latest price.

What is the P/E ratio of Usha Martin Limited?

About 28.1 times its earnings over the last 12 months.

Is Usha Martin Limited a good investment?

We do not give views on individual shares. Whether any share suits you depends on your goals, time horizon and risk appetite; for long-term goals, a diversified mutual fund is often a simpler way to own shares. Investments in securities markets are subject to market risks.

How can I buy Usha Martin Limited shares?

You need a trading and demat account with a SEBI-registered stock broker. We can help you open one through Parshvanath Investments, an Authorised Person of Master Capital Services Ltd (SEBI Reg. INZ000210539). We provide execution and account service only, not tips or research.

Important. Prices from NSE via Yahoo Finance. Quarterly and annual results, shareholding and documents are taken from the filings the company made with NSE; balance sheet, cash flow and valuation figures are compiled by Yahoo Finance; ratios are computed by us from them. Figures may be delayed or revised. This page is for information only: it is not research, a recommendation or an offer to buy or sell any security. Investments in securities markets are subject to market risks; read all related documents carefully before investing. Plenitude Connect Private Limited is an AMFI-registered Mutual Fund Distributor (ARN-130934); share broking is offered through Parshvanath Investments, Authorised Person of Master Capital Services Ltd (SEBI Reg. INZ000210539).

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Usha Martin Limited share price

Price chart

Quick take

Pros

Cons

AI analysis

About Usha Martin Limited

Peer comparison

Quarterly Results

Profit & Loss

Compounded Sales Growth

Compounded Profit Growth

Stock Price CAGR

Return on Equity

Compounded Sales Growth

Compounded Profit Growth

Stock Price CAGR

Return on Equity

Balance Sheet

Cash Flows

Ratios

Shareholding Pattern

Documents

Announcements

Annual reports

Credit ratings

Concalls & investor meets

Key dates

Trade with our broking desk

Questions about Usha Martin Limited

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