Usha Martin
Usha Martin Q1 FY27 earnings call: Revenue & Margins
Q1 FY27 earnings call: what management guided on revenue, margins and order book.
What the Q1 FY27 call signalled
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The short version
Usha Martin aims for 10-12% volume growth in FY27, despite a flattish volume in Q1; a double-digit growth expected in the remaining quarters. - Revenue is expected to grow around 15% driven by value growth and improved product mix. - New capacities, including an elevator rope expansion adding approx. Usha Martin Ltd.
From Usha Martin's Q1 FY27 earnings-call transcript · updated 16 Oct 2026.
Revenue & Sales Performance
- Usha Martin aims for 10-12% volume growth in FY27, despite a flattish volume in Q1; a double-digit growth expected in the remaining quarters.
- Revenue is expected to grow around 15% driven by value growth and improved product mix.
- New capacities, including an elevator rope expansion adding approx. 6,000 tons/year, will support volume growth.
- Geographic diversification with growth in India, U.S., and Europe is expected to offset Middle East volume decline.
- Focus on value-added products, new customer approvals, and higher-margin segments like plasticated LRPC and Oceanfibre to drive profitable growth.
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Profitability & Margins
See what Usha Martin said on profitability & margins — free account, 30 seconds.
Capital Expenditure Plans
- For FY27, Usha Martin plans a capital expenditure of approximately INR 250 crore to INR 300 crore.
- Key projects include expanding elevator rope capacity by about 6,000 metric tons per annum, expected to be commissioned in phases starting October and completing by Q1 FY28.
- Capex also focuses on modernizing and expanding furnaces to meet increased demand.
- Routine maintenance and efficiency improvement capex are included within the annual investment.
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Fundraising & Capital Structure
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Order Book & Pipeline
- The company has a healthy pipeline of inquiries and orders across geographies, including India, the US, Europe, and the Middle East.
- Despite a 30% volume dip in the Middle East due to geopolitical issues, other markets like India, US, and Europe showed volume growth.
- Project-related delays in Asia Pacific are temporary with projects under negotiation expected to mature soon.
- Efforts are ongoing to diversify and increase regular business volumes in segments such as crane ropes and elevators.
- The company expects demand to improve with the resolution of geopolitical tensions, particularly in the Middle East for reconstruction and oil and gas activities.
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Usha Martin — Quarterly revenue & net profit
Q1 FY27 figures are not in this chart yet. Latest shown: Mar 2026 (Q4 FY26). The Q1 FY27 numbers from the filing are in the analysis on this page.
Reported quarterly figures (₹ Cr). Latest (Q4 FY26): revenue ₹979 Cr, net profit ₹148 Cr. Revenue and profit are scaled separately — hover a quarter for exact figures.
Full financials →Continue your research
What Usha Martin Ltd's management said in earlier quarters
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Frequently Asked Questions
What were Usha Martin Q1 FY27 results?
Usha Martin aims for 10-12% volume growth in FY27, despite a flattish volume in Q1; a double-digit growth expected in the remaining quarters. - Revenue is expected to grow around 15% driven by value growth and improved product mix. - New capacities, including an elevator rope expansion adding approx. Usha Martin Ltd.
What is Usha Martin share price analysis?
Usha Martin currently shows a below-average growth signal. The stock trades at a P/E of 27.5 with a market cap of ₹14,972 Cr. Investors should review the full earnings analysis for detailed insights.
Is Usha Martin planning capital expenditure?
For FY27, Usha Martin plans a capital expenditure of approximately INR 250 crore to INR 300 crore.
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This analysis is AI-generated based on publicly available earnings data and the company's earnings call transcript. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.