Usha Martin Limited

Capital Goods · Industrial Products

NSE: USHAMART BSE: 517146

₹498.65

Sept. 30, 2026 · NSE · nse_bhavcopy

Peers in Industrial Products

The largest companies in the same industry by market cap. This company ranks #24 of 335. PE, ROE, 1Y return and scores come from the daily/weekly precomputed snapshot.

Company	Market cap (₹ Cr)	PE (TTM)	ROE	1Y return	Div. yield	Quality	Valuation	Momentum
Cummins India Limited	131,947	57.8	27.9%	23.7%	1.39%	84	0	27
Polycab India Limited	120,900	43.0	22.3%	9.2%	0.59%	83	27	61
Welspun Corp Limited	71,672	81.9	17.2%	217.6%	0.18%	71	0	53
APL Apollo Tubes Limited	60,810	105.9	22.7%	26.5%	—	68	0	51
Supreme Industries Limited	43,837	46.5	15.5%	-17.6%	—	76	0	49
KEI Industries Limited	42,590	42.7	13.8%	10.4%	0.10%	70	29	61
Astral Limited	36,816	56.6	13.2%	-0.4%	—	76	12	12
AIA Engineering Limited	36,106	27.9	15.8%	19.1%	0.41%	71	29	61
Usha Martin Limited (this stock)	15,196	37.5	14.1%	10.1%	0.75%	74	41	32

Valuation multiples

Current only. Market cap is the whole company's; sales/EBITDA are trailing-twelve-month standalone; debt and cash come from the latest filed standalone balance sheet (March 31, 2026). EBITDA = PBT + interest + depreciation.

Enterprise value

₹15,149 Cr

EV / EBITDA

25.6x

EV / Sales

6.27x

Market cap / Sales

6.29x

Earnings yield

2.67%

Quarterly Financials

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Standalone Consolidated

↑ Positive

Quarterly Revenue

Jun 2026 quarterly revenue is Rs 649 Cr, up 16.9% YoY.

↑ Positive

Quarterly Net Profit

Jun 2026 quarterly net profit is Rs 98 Cr, up 37.7% YoY.

Period end	Revenue (₹ Cr)	PBT (₹ Cr)	Net profit (₹ Cr)	Basic EPS
June 30, 2026	642	129	98	₹3.2100
March 31, 2026	640	172	128	₹4.4600
Dec. 31, 2025	582	100	74	₹2.4400
Sept. 30, 2025	551	130	80	₹3.1900
June 30, 2025	540	95	71	₹2.3300
March 31, 2025	544	107	78	₹2.5700
Dec. 31, 2024	565	102	77	₹2.5300
Sept. 30, 2024	547	104	78	₹2.5600
June 30, 2024	514	92	69	₹2.2600
March 31, 2024	515	92	71	₹2.3300
Dec. 31, 2023	532	108	81	₹2.6700
Sept. 30, 2023	498	120	91	₹3.0020
June 30, 2023	501	100	78	₹2.5730

Quarterly income statement (standalone, ₹ Cr)

Indicator	Jun 26	Mar 26	Dec 25	Sep 25	Jun 25	Mar 25	Dec 24	Sep 24	Jun 24	Mar 24	Dec 23	Sep 23	Jun 23
Total income (before exceptional items)	649	665	585	581	555	567	568	560	517	524	537	528	518
Operating revenue	642	640	582	551	540	544	565	547	514	515	532	498	501
Other income	6	25	3	30	15	23	3	12	3	8	5	30	17
Operating expenses	504	474	456	436	444	444	450	442	413	418	420	398	410
Operating profit	139	166	125	115	96	100	115	106	101	97	112	100	91
Operating profit margin	21.6%	25.9%	21.5%	20.8%	17.7%	18.4%	20.3%	19.3%	19.7%	18.8%	21.1%	20.0%	18.2%
Depreciation	16	15	14	14	14	13	12	11	10	11	8	7	7
Interest	1	0	1	1	2	3	3	3	2	2	2	2	1
Exceptional items, gain / (loss)	—	-4	-13	—	—	—	—	—	—	—	—	—	—
Profit before tax	129	172	100	130	95	107	102	104	92	92	108	120	100
Tax	31	36	26	32	24	28	25	26	23	21	26	29	22
Net profit	98	—	74	—	71	78	77	78	69	71	81	91	78
EPS	3.21	4.46	2.44	3.19	2.33	2.57	2.53	2.56	2.26	2.33	2.67	3.00	2.57
Net profit (TTM)	—	—	—	—	304	302	295	299	313	322	314	285	238
EPS (TTM)	13.30	12.42	10.53	10.62	9.99	9.92	9.68	9.82	10.26	10.58	10.32	9.35	7.82

Total income excludes exceptional items, which are shown on their own row. Trendlyne and Screener fold exceptional items into revenue or other income, so their totals differ from this table by exactly that row.

Annual Financials

Year ended	Revenue (₹ Cr)	PBT (₹ Cr)	Net profit (₹ Cr)
March 31, 2026	2,312	496	353
March 31, 2025	2,171	405	302
March 31, 2024	2,046	421	322
March 31, 2023	2,042	287	214

Annual income statement (standalone, ₹ Cr; CAGR to the latest year)

Indicator	CAGR 3Y	CAGR 5Y	Mar 26	Mar 25	Mar 24	Mar 23	Mar 22	Mar 21	Mar 20	Mar 19	Mar 18	Mar 17
Total income (before exceptional items)	4.8%	11.8%	2,386^†	2,212^†	2,106^†	2,072^†	1,846^†	1,364^†	1,423^†	2,547^†	4,233^†	3,628^†
Operating revenue	4.2%	11.4%	2,312	2,171	2,046	2,042	1,810^†	1,346^†	1,388^†	2,498^†	4,146^†	3,512^†
Other income	—	—	74^†	41^†	60^†	31^†	36^†	19^†	34^†	50^†	86^†	117^†
Operating expenses	—	—	1,811^†	1,749^†	1,646^†	1,744^†	1,561^†	1,159^†	1,222^†	2,112^†	3,670^†	2,762^†
Operating profit	18.9%	21.8%	501^†	422^†	400^†	298^†	249^†	187^†	166^†	386^†	476^†	750^†
Operating profit margin	—	—	21.7%^†	19.4%^†	19.6%^†	14.6%^†	13.8%^†	13.9%^†	12.0%^†	15.4%^†	11.5%^†	21.3%^†
Depreciation	—	—	57^†	47^†	33^†	27^†	31^†	31^†	28^†	92^†	274^†	269^†
Interest	—	—	5^†	11^†	7^†	15^†	31^†	45^†	58^†	211^†	571^†	549^†
Exceptional items, gain / (loss)	—	—	-17^†	0^†	0^†	0^†	31^†	0^†	0^†	0^†	0^†	0^†
Profit before tax	20.0%	30.7%	496	405	421	287	253^†	130^†	115^†	132^†	-282^†	-355^†
Tax	—	—	118^†	103^†	99^†	74^†	42^†	25^†	201^†	—	—	—
Net profit	18.2%	—	353	302	322	214	211^†	—	—	—	-282^†	-355^†
EPS	21.0%	29.2%	12.42^†	9.92^†	10.58^†	7.01^†	6.94^†	3.45^†	-2.83^†	—	—	—

^† Derived: the sum of that fiscal year's four quarterly filings (a real annual filing is used wherever one exists). Checked against filed annual figures, the sum lands within 0.5% for about 94% of company-years.

Annual ratios (standalone)

Ratio	Mar 26	Mar 25	Mar 24	Mar 23	Mar 22	Mar 21	Mar 20	Mar 19	Mar 18	Mar 17
Operating margin	21.7%^†	19.4%^†	19.6%^†	14.6%^†	13.8%^†	13.9%^†	12.0%^†	15.4%^†	11.5%^†	21.3%^†
EBIT margin	21.7%^†	19.2%^†	20.9%^†	14.8%^†	15.7%^†	13.0%^†	12.4%^†	13.7%^†	7.0%^†	5.5%^†
PBT margin	21.5%	18.6%	20.6%	14.1%	14.0%^†	9.7%^†	8.3%^†	5.3%^†	-6.8%^†	-10.1%^†
Net margin	15.3%	13.9%	15.7%	10.5%	11.7%^†	—	—	—	-6.8%^†	-10.1%^†
Interest coverage	103.13x^†	36.60x^†	63.07x^†	20.17x^†	9.13x^†	3.93x^†	2.98x^†	1.62x^†	0.51x^†	0.35x^†
Dividend payout	24.2%^†	27.7%^†	23.6%^†	28.5%^†	0.0%^†	0.0%^†	—	—	—	—
Earnings retention	75.8%^†	72.3%^†	76.4%^†	71.5%^†	100.0%^†	100.0%^†	—	—	—	—
Current ratio	3.29x	2.82x	—	—	—	—	—	—	—	—
Quick ratio	2.27x	1.77x	—	—	—	—	—	—	—	—
Debt to equity	0.00x	0.08x	—	—	—	—	—	—	—	—
Return on equity	19.7%	19.7%	—	—	—	—	—	—	—	—
Return on assets	16.2%	15.3%	—	—	—	—	—	—	—	—
Return on capital employed	26.9%^†	25.2%^†	—	—	—	—	—	—	—	—
Asset turnover	1.06x	1.10x	—	—	—	—	—	—	—	—

Margins and asset turnover use operating revenue (interest earned for banks, excluding other income), not total income. Liquidity, leverage and return ratios need a filed standalone balance sheet, which exists only for recent years; returns use year-end equity/assets. Dividend payout is shown only for companies with a dividend record. † = built from a summed fiscal year.

Revenue Mix

Data unavailable.

Cash Flow

Year ended	Operating (₹ Cr)	Investing (₹ Cr)	Financing (₹ Cr)	Capex (₹ Cr)	Free Cash Flow (₹ Cr)
March 31, 2026	445	-316	-228	149	295
March 31, 2025	313	-106	-115	134	179
March 31, 2024	301	-173	-124	211	90
March 31, 2023	142	-122	-66	149	-7
March 31, 2022	185	69	-161	24	160

Balance Sheet (standalone)

Year ended	Total Assets (₹ Cr)	Total Equity (₹ Cr)	Reserves (₹ Cr)	Borrowings, Current (₹ Cr)	Borrowings, Non-current (₹ Cr)	Current Assets (₹ Cr)	Current Liabilities (₹ Cr)	Cash & Equivalents (₹ Cr)	Net Block (₹ Cr)	Inventory (₹ Cr)
March 31, 2026	2,179	1,789	1,758	0	0	1,049	319	47	790	326
March 31, 2025	1,980	1,531	1,500	52	71	922	327	146	702	344
March 31, 2024	—	—	—	—	—	—	—	—	—	—
March 31, 2023	—	—	—	—	—	—	—	—	—	—
March 31, 2022	—	—	—	—	—	—	—	—	—	—

Financial charts

Trend charts drawn from the standalone income-statement and ratio tables above (oldest year on the left); a gap means that period has no figure. Annual years marked † in the tables are derived from four quarters.