Usha Martin Ltd
Usha Martin Q3 FY26 earnings call: Revenue & Margins
Q3 FY26 earnings call: what management guided on revenue, margins and order book.
The short version
Wire and Rope segments expected to grow at 10%-12%, with Wire segment growing ~20% driven by value-added products (Page 17). The company expects volume growth of 10% to 11% CAGR on Wire and Rope segments over the next three years (FY24 to FY26).
From Usha Martin Ltd's Q3 FY26 earnings-call transcript · updated 23 Aug 2026.
Revenue & Sales Performance
- Wire and Rope segments expected to grow at 10%-12%, with Wire segment growing ~20% driven by value-added products (Page 17).
- Combined volume growth in Wire and Rope anticipated at ~12%-15% annually over the next 2-3 years (Page 17).
- Long-term revenue CAGR of ~10%-11% on Wire and Rope side from FY24 to FY26 (Page 16).
- Focus on value-added, specialty Wire Ropes (around 70% of Wire Rope turnover) to drive higher margin growth (Page 20).
- Volume growth expected to resume gradually from Q4 FY26, with better ramp-up in FY27 (Page 15).
- New geographic expansions, customer additions, and product development to support growth (Page 13).
- Synthetic sling (Ocean Fiber) business projected to become a meaningful vertical with strong order pipeline (Page 8).
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Profitability & Margins
See what Usha Martin Ltd said on profitability & margins — free account, 30 seconds.
Capital Expenditure Plans
- Usha Martin plans capex of INR 250 crore to INR 300 crore per year over the next 2-3 years, including maintenance capex of about INR 50 crore annually.
- Capex focus areas include value-added products such as elevator ropes, crane ropes, port cranes, oil offshore applications, and ocean fiber business.
- Growth capex to support volume growth target of 10%-15% annually.
- Capex mainly for brownfield projects or debottlenecking initiatives with attractive returns.
- Company intends to fund all capex from internal accruals, maintaining a net cash position.
- Exploring inorganic opportunities to build markets and expand geographic reach, particularly in Europe.
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Top-ranked in Industrial Products
Ranked on what management guided this quarter
Rank buckets describe management commentary on revenue and margin. Not investment advice, and not a forecast of returns.
Fundraising & Capital Structure
See what Usha Martin Ltd said on fundraising & capital structure — free account, 30 seconds.
Order Book & Pipeline
- The company sees a much healthier order book both domestically and in exports compared to previous quarters.
- There is a strong order book for high-value, specialized, and project-based products like elevator ropes, crane ropes, and oil & offshore ropes.
- The high-value product orders are generally booked in advance given their specialized nature and longer processing times.
- There is a good pipeline of inquiries supporting future growth in value-added products.
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Usha Martin Ltd — Quarterly revenue & net profit
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.
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What Usha Martin Ltd's management said in earlier quarters
Others in Industrial Products this season
- Shri Kanha Stain (Q3 FY26)
Revenue/Sales Figures for the Quarter:** The presentation reports net sales of ₹322.20 crore for Q3 FY 2026. Key investor presentation takeaways from Shri Kanha
- Rappid Valves (Q3 FY26)
Two concrete investments in manufacturing infrastructure totaling ₹139 Crores: . Key investor presentation takeaways from Rappid Valves India Ltd's Q3 FY26 inve
- Prime Cable Ind. (Q3 FY26)
Q3 FY26 provisional revenue: INR 71.8 crores . Key investor presentation takeaways from Prime Cable Industries Limited's Q3 FY26 investor presentation — and how
- Shubhshree Bio. (Q3 FY26)
Revenue in H1 FY26: ₹9,604.6 Lakhs, a 24.1% year-on-year (YoY) increase from ₹7,736.4 Lakhs. Key investor presentation takeaways from Shubhshree Biofuels Energy
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Frequently Asked Questions
What were Usha Martin Ltd Q3 FY26 results?
Wire and Rope segments expected to grow at 10%-12%, with Wire segment growing ~20% driven by value-added products (Page 17). The company expects volume growth of 10% to 11% CAGR on Wire and Rope segments over the next three years (FY24 to FY26).
What is Usha Martin Ltd share price analysis?
Usha Martin Ltd currently shows a neutral. The stock trades at a P/E of 29.1 with a market cap of ₹15,854 Cr. Investors should review the full earnings analysis for detailed insights.
Is Usha Martin Ltd planning capital expenditure?
Usha Martin plans capex of INR 250 crore to INR 300 crore per year over the next 2-3 years, including maintenance capex of about INR 50 crore annually.
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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.