Usha Martin Ltd Share Price ₹486 | P/E 28.6

Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.

Financials of Usha Martin Ltd

Quarter-by-quarter operating performance

	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026
Sales +	855	814	785	797	829	826	891	861	896	887	908	917	979
Expenses +	701	669	640	640	678	672	730	718	757	743	735	741	768
Operating Profit	154	146	144	157	152	154	161	143	140	145	173	176	212
OPM %	18%	18%	18%	20%	18%	19%	18%	17%	16%	16%	19%	19%	22%
Other Income +	13	7	25	8	14	9	11	9	28	20	10	-5	21
Interest	8	6	6	6	7	7	8	9	7	6	5	5	4
Depreciation	17	18	18	19	23	22	23	26	28	29	28	29	31
Profit before tax	142	129	144	140	136	135	141	118	133	130	150	138	197
Tax %	26%	22%	24%	23%	22%	23%	23%	22%	24%	22%	27%	22%	25%
Net Profit +	105	101	110	108	106	104	109	92	101	101	110	108	148
EPS in Rs	3.45	3.31	3.59	3.53	3.49	3.42	3.60	3.04	3.31	3.31	3.60	3.53	4.85

Financials of Usha Martin Ltd

Annual income statement trend

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Sales +	4,561	4,112	3,882	2,066	2,488	2,154	2,097	2,688	3,268	3,225	3,474	3,691
Expenses +	3,845	3,771	3,493	2,253	2,512	1,922	1,814	2,304	2,754	2,627	2,877	2,986
Operating Profit	717	341	389	-188	-24	232	284	384	513	599	597	705
OPM %	16%	8%	10%	-9%	-1%	11%	14%	14%	16%	19%	17%	19%
Other Income +	-63	32	120	77	17	537	24	75	40	53	57	46
Interest	522	547	564	92	114	74	57	42	30	25	30	20
Depreciation	418	308	300	60	61	64	68	70	67	77	98	116
Profit before tax	-287	-481	-355	-264	-181	630	183	346	455	550	527	615
Tax %	-12%	-11%	1%	2%	-126%	33%	20%	16%	23%	23%	23%	24%
Net Profit +	-251	-428	-358	-268	49	421	152	291	351	424	406	466
EPS in Rs	-8.31	-14.10	-11.78	-8.90	1.57	13.74	4.91	9.56	11.49	13.91	13.37	15.29
Dividend Payout %	0%	0%	0%	0%	0%	0%	0%	21%	22%	20%	22%	25%

Financials of Usha Martin Ltd

Capital structure and asset base

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital	31	31	31	31	31	31	31	31	31	31	31	31
Reserves	1,728	1,323	914	697	751	1,197	1,373	1,663	2,000	2,349	2,721	3,271
Borrowings +	3,993	4,472	4,364	4,073	3,565	620	530	411	417	364	417	229
Other Liabilities +	2,556	2,111	2,423	2,646	2,645	696	649	625	627	570	563	681
Total Liabilities	8,307	7,936	7,731	7,445	6,992	2,544	2,582	2,730	3,075	3,313	3,731	4,212
Fixed Assets +	5,477	5,302	5,031	4,862	935	956	932	913	952	1,153	1,406	1,625
CWIP	132	147	121	113	13	33	45	38	139	166	118	89
Investments	0	46	37	39	42	44	48	56	66	56	68	79
Other Assets +	2,698	2,441	2,542	2,432	6,001	1,511	1,557	1,722	1,917	1,938	2,140	2,419
Total Assets	8,307	7,936	7,731	7,445	6,992	2,544	2,582	2,730	3,075	3,313	3,731	4,212

Financials of Usha Martin Ltd

Operating, investing and financing cash movement

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Cash from Operating Activity +	729	856	686	914	974	212	214	159	252	444	422	655
Cash from Investing Activity +	-563	-385	-29	-35	-3	2,942	-34	57	-155	-285	-219	-367
Cash from Financing Activity +	-266	-491	-663	-872	-973	-3,105	-177	-161	-101	-159	-91	-321
Net Cash Flow	-100	-20	-5	7	-2	50	2	55	-4	-0	111	-33
Free Cash Flow	132	471	640	873	981	207	178	165	90	168	191	489
CFO/OP	105%	253%	177%	-491%	-4,116%	103%	77%	38%	67%	94%	91%	104%

Financials of Usha Martin Ltd

Working capital efficiency and return ratios

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Debtor Days	39	55	64	119	48	51	57	56	56	61	55	64
Inventory Days	378	241	261	350	156	183	209	196	180	199	205	187
Days Payable	397	288	362	561	78	108	113	72	60	56	56	61
Cash Conversion Cycle	20	7	-37	-92	126	126	153	180	175	204	205	190
Working Capital Days	-79	-96	-138	-288	-106	56	78	98	98	114	107	109
ROCE %	6%	1%	3%	-4%	-1%	7%	13%	18%	21%	22%	19%	20%