loader2
Partner With Us NRI

Usha Martin Ltd share Price Today

Company details

304.20
313.80
166.05
379.90
6M Return -10.30%
1Y Return 69.06%
Mkt Cap.(Cr) 9,306.82
Volume 728,538
Div Yield 0.80%
OI
-
OI Chg %
-
Volume 728,538

Open Free Trading Account Online with ICICIDIRECT

Incur '0' Brokerage upto ₹500

Iron and steel products company Usha Martin announced Q1FY24 results:

  • Revenue from operations increased by 7.3% YoY to Rs 814.4 crore in Q1FY24.
  • Q1FY24 operating EBITDA stood at Rs 145.7 crore as against Rs 117.3 crore, higher by 24.2% on a YoY basis.
  • During Q1FY24, the operating EBITDA margin was recorded at 17.9%, reflecting an increase from 15.5% in Q1FY23.
  • Considering other Income, the EBITDA margins for Q1FY24 stood at 18.3%, compared to 16.4% in Q1FY23.
  • In Q1FY24, the PBT amounted to Rs 129.1 crore, registering a 25.0% YoY increase from Rs 103.3 crore.
  • In Q1FY24, the PAT amounted to Rs 100.8 crore, registering a 22.5% YoY increase from Rs 82.2 crore.
  • Basic EPS stood at Rs 3.31 as against Rs 2.69 YoY.

Commenting on the performance Tapas Gangopadhyay, Non-Executive Director, Usha Martin, said, “We are delighted to report a strong YoY growth in EBITDA and profitability for Q1FY24. During the quarter, our operating EBITDA increased by 24.2%, with EBITDA margins showing a notable YoY increase of 2.4 pps to 17.9%. This significant margin performance is attributed to our strong focus on value-added products and the expansion of our international operations, which contributed 56% to our Q1FY24 revenue.

Our engagement with international customers for high-end wire ropes remained robust, underscoring the criticality of these products in various end-user industries. We have full confidence in the capabilities of our R&D team to develop suitable solutions, collaborating continuously with our customers.

Our capex initiatives are progressing smoothly. The increased capacities will predominantly cater to a diverse array of critical applications and value-added products, including mining ropes, non-rotating ropes, compacted ropes, and plasticated ropes. Our wave expansion at Ranchi is on-track and is expected to be completed by the end of Q3, supporting our revenue growth endeavors.

Moving forward, Usha Martin is focused on consolidating its position as one of the world's largest providers of specialty wire rope, while actively pursuing market share expansion. With six decades of invaluable experience in the industry, we are poised to leverage our expertise to offer unparalleled solutions. Through continuous investments in R&D and modernization, we are committed to providing cutting-edge solutions that cater to the evolving needs of our esteemed customers worldwide. Our vision is to strengthen our foothold in the industry and set new benchmarks for innovation and customer satisfaction."

 

Result PDF

View Other Company Results

Usha Martin Ltd shares SWOT Analysis

Strengths (10)

  • Company with high TTM EPS Growth
  • Effectively using its capital to generate profit - RoCE improving in last 2 years
  • Effectively using Shareholders fund - Return on equity (ROE) improving since last 2 year

Weakness (5)

  • Promoters increased pledged shares QoQ
  • MFs decreased their shareholding last quarter
  • Decline in Net Profit with falling Profit Margin (QoQ)

Opportunity (0)

Data not found

Threats (3)

  • Companies with growing costs YoY for long term projects
  • Promoter decreasing their shareholding
  • RSI indicating price weakness

Resistance and support

R1 311.4
R2 317.4
R3 321.0
Pivot

307.80

S1 301.8
S2 298.2
S3 292.2
EMA SMA
327.8
325.8
319.9
298.0
339.1
320.8
319.1
309.6
Delivery and volume
CLIENT NAME DEAL TYPE ACTION DATE AVG. PRICE QUANTITY EXCHANGE
BNP PARIBAS ARBITRAGE Bulk Purchase 2023-09-15 341.23 31721 NSE
BNP PARIBAS ARBITRAGE Bulk Sell 2023-09-15 345.33 2135751 NSE
SIXTEENTH STREET ASIAN GEMS FUND Bulk Purchase 2023-07-24 329.07 1650000 NSE
Name Category Shares
Rajeev Jhawar PROMOTER 0.92%
UMIL Share & Stock Broking Services Ltd. PROMOTER 13.41%
Kenwyn Overseas Limited PROMOTER 8.06%
Peterhouse Investments India Limited PROMOTER 6.5%
Usha Martin Ventures Limited PROMOTER 6.21%
Neutral Publishing House Ltd PROMOTER 4.78%
Peterhouse Investments Limited PROMOTER 3%
Brij Investments Pvt. Ltd. PROMOTER 2.06%

FINANCIALS

Sales
Operating Profit
Profit after Tax
Equity
Reserves and Surplus
Debt
Sales
Operating Profit
Profit after Tax
PE
Debt/Equity
P BV

Usha Martin Ltd Stocks COMPARISON

Financials( in Cr) Usha Martin JSW Steel Tata Steel Jindal Steel S A I L
Price 305.40 828.25 143.90 771.50 130.20
% Change -2.32 0.86 2.02 1.51 -0.12
Mcap Cr 9,306.82 202,544.73 179,638.03 78,699.79 53,779.44
Revenue TTM Cr 3,267.76 165,960.00 243,352.69 53,211.52 104,447.72
Net Profit TTM Cr 350.60 4,139.00 8,075.35 3,974.09 2,176.53
PE TTM 22.04 18.72 73.02 14.17 15.92
1 Year Return 69.06 14.50 28.08 29.70 51.31
ROCE 20.65 8.60 12.10 14.17 5.25
ROE 18.83 6.22 7.48 13.27 3.57
INSIDER & INSTITUIONAL ACTIVITY

Equity Capital: 2,030.76 Cr FV: 1.00

Period MF Net Purchase / (sold) FII Net
LAST 1M 22,824.63 -9,772.28
LAST 3M 65,175.33 -16,975.49
LAST 6M 122,507.98 12,725.86
LAST 12M 182,016.31 174,837.59

Usha Martin Ltd Information

Stock PE (TTM)
22.04
Promoter Holding
46.69%
Book Value
70.6475
ROCE
20.65%
ROE
18.83%
Description
  • Usha Martin Ltd is a leading producer of speciality steel and one of the largest wire rope manufacturers globally. The Company 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. They are having six manufacturing facilities in Ranchi, Hoshiarpur, Silvassa, Dubai, Bangkok and the United Kingdom. They are also having their overseas manufacturing operations in Thailand, United Kingdom, United States and Dubai. The company operates in three manufacturing divisions, namely steel, wire ropes and others. The steel division manufactures steel wire rods, rolled products, billets, pig iron and allied products. The wire and wire ropes division manufactures steel wires, strands, wire ropes, cord, bright bar, related accessories. The company`s other division manufactures wire drawing and allied machineries, jelly filled telecommunication cables. Usha Martin Ltd was incorporated in the year 1986 as Usha Beltron Ltd. The company was jointly promoted by Usha Martin Industries Ltd and the Bihar State Electronic Development Corporation. The company manufactured Jelly Filled Telephone Cables in collaboration with AEG Kabel of Germany. In the year 1994, the company established Usha Martin Europe Ltd as a subsidiary, in joint venture with Exim Bank of India to create worldwide marketing and distribution set up for export of wire ropes. In the year 1995, the company commissioned mini blast furnace at Jamshedpur to reduce cost and improve productivity. In the year 1996, they commissioned a new state of the art Wire Rod Mill at Jamshedpur to produce higher weight coils for better productivity. Usha Martin Industries Ltd merged with company with effect from October 1, 1997. The shareholders of Usha Martin Industries Ltd were allotted one equity share of the company in respect of every three shares of Usha Martin Industries Ltd held by them. In the year 2000, the company`s IT division was de-merged into a new company named as Usha Martin Infotech Ltd. The company established UM Cables Ltd as their wholly owned subsidiary to set up a green field JFTC and OFC plant at Silvassa. They commissioned 25 MW thermal power plant at Jamshedpur for captive consumption during the year. During the year, the company acquired a majority stake in Usha Siam Steel Industries Public Ltd Company, Bangkok, which is engaged in manufacture of wire ropes. Also they acquired 80% stake in Brunton Shaw Ltd, UK, from Carclo Group. In the year 2001, the company established Usha Martin Singapore (Pty) Ltd as their wholly owned subsidiary for setting up a distribution center at Singapore for wire ropes. Also, they commissioned second SMS at Jamshedpur to enhance capacity to 350000 TPA. In the year 2003, the company disposed off their Rolling Mill Division at Agra for focusing on core business. Also, Brunton Wolf Wire Ropes FZ Co Middle East Dubai, a joint venture between Usha Martin International Ltd and Gustav Wolf of West Germany commenced their commercial production with production capacity of 6,000 MT per annum. The name of Usha Beltron Ltd was changed to Usha Martin Ltd with effect from May 1, 2003. During the year 2003-04, the company acquired the balance equity share of their subsidiary company, Usha Martin International Ltd from Export Import Bank of India. Thus, Usha Martin International Ltd became a wholly owned subsidiary company. During the year 2004-05, the company commissioned DRI and WHRB power plant at their steel division in Jamshedpur. During the year 2005-06, the company commenced iron ore mining activities in State of Jharkhand. Usha Martin Holdings Ltd, a wholly owned subsidiary of the company, was merged with the company with effect from April 1, 2005. Also, the company acquired wire and wire rope division of JCT Ltd in Punjab. This division, named as Wire & Wire Rope Division (North) commenced their operations on June 1, 2005. The subsidiaries of Usha Martin International Ltd, namely Usha Martin Americas Inc, Brunton Wolf Wire Ropes FZCO and UMICOR Africa Pty Ltd became the direct subsidiaries of the company with effect from October 1, 2005. During the year 2006-07, the company made a joint venture agreement with Pengg AG of Austria and formed Pengg Usha Martin Wires Pvt Ltd for manufacturing Oil Tempered and other type of speciality wires at Ranchi. The company holds 40% stake in this venture while the balance is being held by Pengg AG, Austria. Also, they made a joint venture with CCL group of UK and formed CCL Usha Martin Stressing Systems Ltd for dealing in post tensioning in building and other civic work. The company holds 50% stake in this venture. In December 2006, the company acquired a steel rolling plant in Agra with an annual capacity of 72,000 tonnes and was renamed as Construction Steel Division. During the year 2007-08, the company purchased equity shares of Brunton Shaw Americas Inc, from Usha Martin International Ltd and thus, Brunton Shaw Americas Inc became the direct wholly owned subsidiary of the company. Also, the wire rope manufacturing plant set up by Brunton Shaw Americas Inc started their commercial production. Also, Usha Martin International Ltd, a wholly owned subsidiary of the company acquired De Ruiter Staalkabel BV, a company incorporated in Netherlands. The projects of company which is under implementation include setting up of second mini blast furnace/sinter plant, 75 MW captive power plants, third steel melt shop which consists of electric arc furnace, ladle furnace and vacuum degassing, bloom caster, 700 TPD DRI plants, railway sidings, coal mining, enrichment of mineral resources, etc. In this, coal mine, DRI plants, third SMS, 30 MW captive power plant, bloom mill and bright bar plant at Chennai are expected to get commissioned during the financial year 2008-09. In June 2008, the company signed a joint venture agreement with BHP Billiton Ltd to set up a joint venture company Bharat Minex Pvt Ltd to jointly explore for minerals in the state of Jharkhand in India. During year 2008-09, Usha Martin Vietnam Company Limited (UMVCL), a company incorporated in Vietnam, was formed as wholly owned subsidiary of Usha Martin Singapore Pte. Limited, a wholly owned subsidiary of the Company. Also, Usha Martin Power & Resources Limited (UMPRL) was formed as a wholly owned subsidiary of the Company. Brunton Shaw Americas Inc, a wholly owned subsidiary of the Company merged with Usha Martin Americas Inc, another wholly subsidiary of the Company w.e.f. 1st April, 2009. The Company started operations at coal mine during year 2009-10. Usha Martin Singapore Pte. Limited [UMSPL], a wholly owned subsidiary of the Company, constructed about 70,000 sq. ft. space to accommodate warehousing facilities which became operational in April, 2010. P. T. Usha Martin Indonesia, a Company incorporated in Indonesia, was formed as wholly owned subsidiary of UMSPL. Bharat Minex Private Limited was made a wholly owned subsidiary of the Company, after buying out 50% equity stake earlier held by joint venture partner namely BHP Minerals Holding Pty Ltd. During 2009-10, the Company issued and allotted 5,45,00,000 equity shares of Re. 1 each at a price of Rs. 85.90 per equity share aggregating to Rs. 468.15 cr to qualified institutional buyers. It installed a 30 MW power plant in Jamshedpur for captive consumption, commissioned two new DRI plants (combined capacity 0.2 lac tonnes); commissioned a new 0.6 mtpa Steel Melt Shop III (SMS III), established a blooming mill (capacity 0.275 mtpa), increasing the focus on larger and heavier steel products (upto 150 mm diameter) used by the commercial vehicles segment, commissioned balancing facilities-modernisation of coal handling units and a third internal line in Jamshedpur-to support capacity expansion, and commissioned non coking coal mine to produce B-grade coal (5700 cal) used in power and DRI plants. Major capex projects, including a new Blast Furnace and a sinter plant, was completed in FY 10-11. Sinter plant which commissioned in September, 2010 achieved 80% capacity utilization in the first full year of operation, commissioned Hot Blast Stoves in Blast Furnace 1, commissioned Bar Mill at Agra to produce speciality steel Bars in 2011-12. 30 MW CPP, Char Beneficiation, DRI-V, 100 TPD Lime Kiln, Beneficiation Plant Phase-1, EBNER annealing furnace and Fume Exhaust System of SMS-2 were major projects commissioned during the financial year 2012- 13. The Company commissioned key cost optimization projects, namely coke oven plant, ore beneficiation and pellet plant, DRI IV, 35 MW Captive power plant, etc. in 2013-14. During 2015, Gustav Wolf Specialty Cords Limited, a Joint Venture of the Company and Usha Martin Power & Resources Limited, a subsidiary of the Company were converted into wholly owned subsidiary of the Company. However, during 2015, the Hon`ble Supreme Court of India passed Order relating to deallocation of two coal mines of the Company, Kathautia and Lohari Coal blocks. of which, the Kathautia Coal Block was in operation upto March, 2015. During 2016-17, the Company divested 50% shareholding in Dove Airlines Private Limited (DAPL), and subsequently DAPL ceased to be a joint venture of the Company in August, 2016. As on 31st March 2019, the Company had a steel making capacity of nearly 1 million tons and wire ropes capacity of 259,320 MT. The Company made alloy steel long products like wire rods, bars, blooms and bright bars mostly for commercial vehicles and tractors. During 2019-20, a business transfer agreement was executed with Tata Sponge Iron Limited (TSIL) for transfer of the Steel Business Undertaking (comprising steel manufacturing facility, an operative iron ore mine, coal mine under development, captive power plants, plant & machinery of straight bar facility) of the Company by way of slump sale on going concern basis, which was completed on 9th April, 2019.

Registered Address

2A Shakespeare Sarani, , Kolkata, West Bengal, 700071

Tel : 91-33-39800300
Email : investor:ushamartin.co.in
Website : http://www.ushamartin.com
Registrar

MCS Ltd

AGM Date (Month) : Aug
Face Value Equity Shares : 1
Market Lot Equity Shares : 1
BSE Code : 517146
NSE Code : USHAMART
Book Closure Date (Month) : Aug
BSE Group : A
ISIN : INE228A01035

FAQ’s on Usha Martin Ltd Shares

You can buy Usha Martin Ltd shares through a brokerage firm. ICICIdirect is a registered broker through which you can place orders to buy Usha Martin Ltd Share.

Company share prices and volatile and keep changing according to the market conditions. As of Feb 21, 2024 04:12 PM the closing price of Usha Martin Ltd was ₹ 305.40.

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 Feb 21, 2024 04:12 PM, the market cap of Usha Martin Ltd stood at ₹ 9,306.82.

The latest PE ratio of Usha Martin Ltd as of Feb 21, 2024 04:12 PM is 22.04

The latest PB ratio of Usha Martin Ltd as of Feb 21, 2024 04:12 PM is 0.23

The 52-week high of Usha Martin Ltd is ₹ 379.90 while the 52-week low is ₹ 166.05

Download Our

Download App
market app