Usha Martin quarterly results and financials

Usha Martin (USHAMART)₹490.10+1.38%(9 Nov 2026 close)Iron & Steel Products

Key facts

In the Jun 2026 quarter (consolidated), Usha Martin reported sales of ₹1,030 Cr, up 16.4% from Jun 2025, and net profit of ₹142 Cr, up 40.5% year on year. For the year to Mar 2026, sales were ₹3,685 Cr and net profit ₹464 Cr.

Sales (Jun 2026): ₹1,030 Cr
Net profit (Jun 2026): ₹142 Cr
Sales (FY Mar 2026): ₹3,685 Cr
Net profit (FY Mar 2026): ₹464 Cr
EPS (Jun 2026): ₹4.67
Borrowings (Mar 2026): ₹229 Cr

Company filings, consolidated accounts; latest reported quarter Jun 2026

Usha Martin quarterly results

₹ crore unless stated; each column is a quarter.

Usha Martin Quarterly results
	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
Sales	783	795	827	824	889	859	894	885	906	916	977	1,030
Expenses	643	643	681	675	733	720	760	745	738	744	770	828
Operating Profit	144	156	151	153	160	143	140	144	172	175	211	207
OPM %	18.1%	20.0%	18.1%	19.0%	18.1%	17.1%	16.1%	16.1%	19.1%	19.1%	22.0%	20.1%
Other Income	25.03	8.01	14.02	9.02	11.01	9.01	28.03	20.02	10.01	−5.01	21.04	14.02
Interest	5.99	5.99	6.99	6.99	7.99	8.99	6.99	5.99	4.99	4.99	3.99	3.99
Depreciation	18.05	19.05	23.05	22.07	23.07	26.05	28.09	29.07	28.07	29.09	31.08	34.07
Profit before tax	144	140	136	135	141	118	133	130	150	138	197	184
Tax %	24.0%	22.9%	21.9%	23.0%	23.0%	21.9%	24.0%	21.9%	27.0%	22.0%	25.0%	22.9%
Exceptional items	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	−18.05	−10.03	−10.03	0.00
Net Profit	110	108	106	104	109	91.64	101	101	110	108	148	142
EPS (Rs)	3.58	3.52	3.50	3.41	3.61	3.05	3.32	3.32	3.59	3.54	4.86	4.67

Usha Martin profit and loss

₹ crore unless stated; years end in March. TTM is the last four quarters.

Usha Martin Profit and loss
	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
Sales	4,103	3,874	2,060	2,481	2,148	2,093	2,682	3,261	3,218	3,467	3,685	3,829
Expenses	3,786	3,509	2,261	2,521	1,930	1,821	2,314	2,766	2,638	2,888	2,995	3,080
Operating Profit	340	388	−187	−23.90	231	283	383	511	597	595	703	766
OPM %	8.0%	10.1%	−8.9%	−1.0%	11.1%	14.1%	14.1%	16.0%	19.1%	17.1%	19.0%	20.0%
Other Income	32.05	120	77.11	17.03	538	24.04	75.06	40.04	53.07	57.06	46.08	40.06
Interest	546	564	92.05	114	74.01	56.94	41.99	29.99	24.98	29.99	19.99	17.96
Depreciation	309	301	60.20	61.14	64.21	68.20	70.14	67.18	77.18	98.33	116	122
Profit before tax	−481	−355	−264	−181	629	183	345	454	549	526	614	668
Tax %	−11.1%	1.0%	2.0%	−126.0%	33.0%	19.9%	16.0%	23.0%	22.9%	23.0%	24.0%	—
Exceptional items	0.00	37.15	34.10	−3.01	11.03	1.01	27.11	1.01	0.00	2.01	9.03	−38.11
Net Profit	−427	−357	−267	48.84	419	151	290	350	422	405	464	506
EPS (Rs)	−14.11	−11.79	−8.91	1.58	13.75	4.90	9.57	11.50	13.92	13.38	15.30	16.66
Dividend payout %	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	21.1%	22.1%	20.1%	22.0%	25.0%	—

Usha Martin balance sheet

₹ crore, at each year end.

Usha Martin Balance sheet
	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	30.88	30.86	30.89	30.86	30.87	30.87	30.87	30.88	30.86	30.86	30.86	30.86
Reserves	1,732	1,328	916	699	752	1,200	1,374	1,664	2,001	2,353	2,724	3,271
Borrowings	4,000	4,478	4,373	4,082	3,564	620	530	411	417	364	417	229
Other Liabilities	2,554	2,113	2,416	2,643	2,632	693	646	622	624	567	560	669
Total Liabilities	8,316	7,949	7,735	7,453	6,979	2,543	2,580	2,728	3,073	3,314	3,731	4,199
Fixed Assets	5,493	5,319	5,042	4,876	938	959	934	915	955	1,157	1,410	1,629
CWIP	132	147	121	113	12.99	32.96	44.96	37.94	139	166	118	88.92
Investments	0.00	46.16	37.07	39.13	42.08	44.13	48.13	56.18	66.16	56.12	68.14	79.23
Other Assets	2,691	2,437	2,535	2,426	5,985	1,507	1,552	1,718	1,912	1,935	2,135	2,403
Inventories	1,695	1,299	1,315	1,231	650	617	675	800	894	894	989	962
Trade receivables	486	616	684	671	325	298	328	415	500	539	528	644
Cash & equivalents	73.70	54.84	50.82	61.77	72.74	112	119	164	161	167	274	476
Total Assets	8,316	7,949	7,735	7,453	6,979	2,543	2,580	2,728	3,073	3,314	3,731	4,199

Usha Martin cash flow

₹ crore, for each year.

Usha Martin Cash flow
	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	727	854	684	911	972	212	213	159	251	443	421	653
Cash from investing activity	−563	−385	−29.01	−34.96	−2.99	2,940	−33.99	56.99	−155	−285	−219	−353
Cash from financing activity	−265	−489	−660	−869	−970	−3,095	−176	−160	−101	−158	−90.62	−320
Net cash flow	−100	−20.06	−5.01	7.01	−2.01	50.08	2.01	55.16	−4.01	0.00	111	−19.04
Capex	604	388	130	87.27	76.26	41.14	37.15	51.21	183	279	246	199
Free cash flow	132	470	639	871	979	207	178	165	89.88	168	191	488
CFO / OP %	105.0%	253.0%	177.0%	−491.0%	−4,116.0%	103.0%	77.1%	38.0%	67.0%	94.0%	91.0%	104.1%

Usha Martin ratios

Working-capital days and returns, by year.

Usha Martin 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	38	54	63	118	47	50	56	55	55	60	54	63
Inventory days	379	242	262	351	157	184	210	197	181	200	206	188
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 %	6.0%	1.0%	3.0%	−4.0%	−1.0%	7.0%	13.0%	18.0%	20.9%	22.0%	18.9%	18.9%

Usha Martin: frequently asked questions

What are the latest quarterly results of Usha Martin?

For the Jun 2026 quarter, Usha Martin reported sales of ₹1,030 Cr, up 16.4% year on year and net profit of ₹142 Cr, up 40.5% year on year. The operating margin was 20.1%.

What is the annual revenue of Usha Martin?

Usha Martin's sales for the year to Mar 2026 were ₹3,685 Cr; over the last twelve months they were ₹3,829 Cr.

What is the net profit of Usha Martin?

Net profit for the year to Mar 2026 was ₹464 Cr, and ₹506 Cr over the last twelve months. Earnings per share over the same trailing period were ₹16.66.

How much debt does Usha Martin have?

Usha Martin reported borrowings of ₹229 Cr at Mar 2026, against cash and equivalents of ₹476 Cr.

What is the free cash flow of Usha Martin?

Cash from operations was ₹653 Cr in the year to Mar 2026; after capital spending, free cash flow was ₹488 Cr.

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