Usha Martin Limited announced its unaudited financial results for the quarter ended 30th June 2026 (Q1 FY27) through a regulatory filing pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Consolidated Financial Performance (Q1 FY27 vs Q1 FY26):

  • Revenue from Operations: ₹1,033.0 crore (vs ₹887.2 crore), representing 16.4% YoY growth
  • Operating EBITDA: ₹208.0 crore (vs ₹144.6 crore), representing 43.8% YoY growth
  • Operating EBITDA Margin: 20.1% (vs 16.3%), expanding by 380 basis points
  • Profit Before Tax (PBT): ₹184.1 crore (vs ₹129.6 crore), representing 42.0% YoY growth
  • PBT Margin: 17.8% (vs 14.6%), expanding by 320 basis points
  • Profit After Tax (PAT): ₹142.0 crore (vs ₹100.8 crore), representing 40.9% YoY growth
  • Basic EPS: ₹4.66 for the quarter

Note: Operating EBITDA and EBITDA margins were calculated without other income.

Management Commentary:

Managing Director Mr. Rajeev Jhawar commented on the performance, noting that the company commenced FY27 strongly with revenue crossing the ₹1,000 crore milestone. The performance was achieved despite higher input and freight costs, supported by improved product and geographic mix, disciplined cost management, and timely pricing actions.

Business Segment Highlights:

  • Rope business recorded healthy growth in India, the US, and Europe, particularly across higher-value applications
  • Middle East volumes reduced due to ongoing geopolitical conflict
  • Wires business delivered strong volume growth of approximately 19%
  • Wires business revenue increased by approximately 32%

Cash Flow and Financial Position:

  • Generated ₹242 crore of operating cash flow during the quarter
  • Ended the quarter with net cash of approximately ₹465 crore
  • Incurred capital expenditure of approximately ₹73 crore during the quarter

Strategic Initiatives:

  • Ongoing investments focused on expanding capacity in specialized wire ropes
  • Investments aimed at improving manufacturing efficiency
  • Focus on value-led volume growth and scaling newer verticals like plasticated LRPC and OceanFibre
  • Strengthening integration and collaboration of global operations under 'One Usha Martin'

Credit Rating Update:

The company's Long-Term Credit Rating was upgraded to IND AA-/Stable during the quarter, recognizing strong financial performance and improved credit profile.

Outlook:

Management stated that demand in key markets remains healthy and expressed confidence in delivering consistent, profitable growth.