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Usha Martin Ltd

Company details

6M Return 28.14%
1Y Return 117.06%
Mkt Cap.(Cr) 5,662.11
Volume 283,803
Div Yield 1.11%
OI Chg %
Volume 283,803

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Usha Martin Ltd.

Q2FY23 Quarterly Result Announced for Usha Martin Ltd.

Iron & steel products firm Usha Martin announced Q2FY23 results:

  • Consolidated Q2FY23 vs. Q2FY22:
    • Revenue from operations increased by 38.1% YoY to Rs. 820.2 crore
      • Sales volumes stood at 50,100 MT, registering a 17.9% YoY increase
      • Higher realizations and better volumes assisted revenue growth during the quarter
    • EBITDA stood at Rs. 120.6 crore as against Rs. 99.0 crore, increasing 22.0% on a YoY basis
      • EBITDA margin for the quarter was 14.7%
    • PAT stood at Rs. 79 crore as against Rs. 57.6 crore, up 37.2% on a YoY basis
    • EPS (Diluted) stood Rs. 2.59 as against Rs. 1.89
  • Consolidated H1FY23 vs. H1FY22:
    • Revenue from Operations increased by 30.6% YoY to Rs. 1,578.9 crore
      • Sales volumes stood at 96,600 MT, registering a 10.4% YoY increase
    • EBITDA stood at Rs. 244.7 crore as against Rs. 196.7 crore, increasing 24.4% on a YoY basis
      • EBITDA margin for the half year was 15.5%
    • PAT stood at Rs. 161.2 crore as against Rs. 115.7 crore, up 39.3% on a YoY basis
    • EPS (Diluted) stood Rs. 5.29 as against Rs. 3.79

Commenting on the performance Mr. Devadip Bhowmik, Whole Time Director said, “We are pleased to share that Usha Martin has reported strong performance during the quarter despite the challenging global macro environment and for a quarter which is generally considered a seasonally soft period for us.

We are also happy to share that the ongoing capacity expansion and modernization plans are progressing well. Additionally, Usha Martin is making notable strides in its strategic initiatives of increasing its global distribution network, product innovation, and value-added solution-based offerings.

Overall, we are enthused with the turnaround that the Company has managed to achieve over the last few years. Today, Usha Martin has considerably improved its balance sheet and has stabilized its overall business dynamics. We are therefore confident that our inherent strengths should enable the Company to enter a new phase in its growth journey.”

Result PDF

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Operating Profit

Profit after Tax


Reserves and Surplus



Operating Profit

Profit after Tax






Equity Capital: 1,693.67 Cr FV: 1.00

Period MF Net Purchase / (sold) FII Net
LAST 1M 9,798.25 -25,291.97
LAST 3M 27,044.95 -25,544.90
LAST 6M 49,131.67 47,902.81
LAST 12M 178,925.96 -114,950.83


Stock PE (TTM)


Promoter Holding


Book Value







  • Usha Martin Ltd is a leading producer of speciality steel and one of the largest wire rope manufacturers globally. The company is engaged in manufacture of wire, wire ropes, steel with captive mineral linkages of iron ore and coal and cables. They are having their manufacturing facilities in Ranchi, Jamshedpur and Barajamda in Jharkhand, Bangalore in Karnataka, Hoshiarpur in Punjab and Agra in Uttar Pradesh. 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.

Registered Address

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

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



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

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Company share prices and volatile and keep changing according to the market conditions. As of Jan 31, 2023 04:01 PM the closing price of Usha Martin Ltd was ₹ 185.80.
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 Jan 31, 2023 04:01 PM, the market cap of Usha Martin Ltd stood at ₹ 5,662.11.
The latest PE ratio of Usha Martin Ltd as of Jan 31, 2023 04:01 PM is 18.54
The latest PB ratio of Usha Martin Ltd as of Jan 31, 2023 04:01 PM is 0.31
The 52-week high of Usha Martin Ltd is ₹ 209.00 while the 52-week low is ₹ 81.95

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