Usha Martin

₹341.8 7.7 | 2.3%

WEBSITE BSE:517146 NSE : USHA MART.LT 10 May, 16:01

Market Cap ₹10415 Cr.

Stock P/E 24.6

P/B 4.4

Current Price ₹341.8

Book Value ₹ 78.1

Face Value 1

52W High ₹394.6

Dividend Yield 0.8%

52W Low ₹ 224.1

Edit Ratio

Usha Martin Research see more...

Overview Inc. Year: 1986Industry: Steel & Iron Products

Usha Martin Ltd is an India-based organisation, that is engaged inside the business of manufacture and sale of wire, cord ropes and allied products. The Company operates thru two segments: Wire & Wire Ropes and Others. The Wire & Wire Ropes segment manufactures and sells steel wires, strands, cord ropes, twine and associated add-ons, among others. The Others segment manufactures and sells jelly stuffed and optical fiber telecommunication cables. Its variety of cord rope includes oil and offshore rope, crane rope, mining rope, fishing rope, elevator rope, aerial rope, conveyor cord and standard engineering rope. Its wires include spring wire, welding cord, automobile spoke cord, brush cord, needle twine and cycle wire, amongst others. It offers strands, together with vivid low relaxation (LRPC) strand, normal relaxation (NRPC) strand and polymer covered galvanised/bright LRPC strand, among others. Its prestressing merchandise include anchorage, sheathing and single pulling jacks, among others.

Usha Martin Share Price

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Peer Comparison

Usha Martin Quarterly Results

#(Fig in Cr.)	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024
Net Sales	712	767	759	820	834	855	814	785	797	829
Other Income	9	6	7	6	4	11	4	21	6	9
Total Income	721	773	765	826	838	867	818	806	803	839
Total Expenditure	612	660	641	705	707	701	669	640	640	678
Operating Profit	109	113	124	121	131	165	149	166	163	161
Interest	11	7	7	8	8	8	6	6	6	7
Depreciation	17	17	17	17	17	17	18	18	19	23
Exceptional Income / Expenses	0	31	0	0	0	0	0	0	0	0
Profit Before Tax	81	120	100	96	107	140	126	141	138	132
Provision for Tax	16	14	21	21	26	37	28	35	32	30
Profit After Tax	64	106	79	75	81	103	98	106	106	102
Adjustments	3	3	3	4	3	2	3	3	2	4
Profit After Adjustments	67	109	82	79	84	105	101	109	108	106
Adjusted Earnings Per Share	2.2	3.6	2.7	2.6	2.7	3.4	3.3	3.6	3.5	3.5

Usha Martin Profit & Loss

#(Fig in Cr.)	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	TTM
Net Sales	3622	4074	4561	4112	3882	2066	2488	2154	2097	2688	3268	3225
Other Income	89	92	37	33	120	77	21	53	29	42	29	40
Total Income	3711	4166	4598	4145	4002	2143	2509	2207	2126	2730	3296	3266
Total Expenditure	3006	3367	3845	3771	3493	1848	2173	1922	1814	2311	2755	2627
Operating Profit	705	799	753	373	509	295	336	285	313	419	541	639
Interest	338	440	522	547	564	92	114	74	57	42	30	25
Depreciation	264	333	418	308	300	60	61	64	68	70	67	78
Exceptional Income / Expenses	0	0	-100	0	0	0	0	0	0	31	0	0
Profit Before Tax	104	27	-287	-481	-355	142	162	147	188	346	455	537
Provision for Tax	21	13	-36	-55	5	5	-227	210	36	55	105	125
Profit After Tax	82	13	-251	-426	-360	137	389	-63	151	291	351	412
Adjustments	-3	-3	-2	-3	1	-408	-341	481	-2	-0	-0	12
Profit After Adjustments	79	11	-253	-430	-359	-271	48	419	150	291	350	424
Adjusted Earnings Per Share	2.6	0.4	-8.3	-14.1	-11.8	-8.9	1.6	13.7	4.9	9.6	11.5	13.9

Growth Rates

#	1 Year	3 Year	5 Year	10 Year
Sales CAGR	22%	15%	10%	-1%
Operating Profit CAGR	29%	24%	13%	-3%
PAT CAGR	21%	0%	21%	16%

#	1 Year	3 Year	5 Year	10 Year
Share Price CAGR	46%	85%	59%	25%
ROE Average	19%	16%	19%	4%
ROCE Average	22%	18%	14%	9%

Usha Martin Balance Sheet

#(Fig in Cr.)	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Shareholder's Funds	1935	2003	1759	1353	945	727	782	1227	1404	1694	2031
Minority's Interest	23	31	31	34	34	34	32	38	4	4	4
Borrowings	2326	2642	2713	2997	2845	2753	2306	305	237	189	197
Other Non-Current Liabilities	762	492	227	144	110	113	-185	83	122	140	203
Total Current Liabilities	2959	3645	3737	3433	3805	3827	1867	863	818	717	721
Total Liabilities	8006	8812	8467	7962	7739	7453	6769	2516	2585	2742	3157
Fixed Assets	3641	5500	5477	5302	5024	4855	927	948	925	909	949
Other Non-Current Assets	1553	645	168	362	331	339	312	249	260	232	447
Total Current Assets	2811	2667	2822	2242	2319	2211	1219	1304	1386	1589	1762
Total Assets	8006	8812	8467	7962	7739	7453	6769	2516	2585	2742	3157

Usha Martin Cash Flow

#(Fig in Cr.)	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Opening Cash & Cash Equivalents	195	56	169	68	48	43	50	48	97	99	154
Cash Flow from Operating Activities	429	1144	729	856	686	914	974	212	214	159	252
Cash Flow from Investing Activities	-803	-1045	-562	-383	-31	-34	-4	2943	-34	56	-158
Cash Flow from Financing Activities	243	18	-266	-491	-663	-872	-973	-3105	-177	-161	-101
Net Cash Inflow / Outflow	-131	118	-99	-19	-8	9	-3	51	2	54	-7
Closing Cash & Cash Equivalent	56	169	69	48	43	50	48	97	99	154	150

Usha Martin Ratios

#	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Earnings Per Share (Rs)	2.59	0.35	-8.31	-14.1	-11.78	-8.9	1.57	13.75	4.91	9.56	11.49
CEPS(Rs)	11.36	11.37	5.48	-3.89	-1.95	6.48	14.77	0.03	7.19	11.85	13.72
DPS(Rs)	0.15	0	0	0	0	0	0	0	0	2	2.5
Book NAV/Share(Rs)	62.96	65.32	55.42	43.45	31.01	23.86	25.66	40.28	46.06	55.58	66.65
Core EBITDA Margin(%)	15.66	16.11	14.49	7.57	9.15	10.32	12.58	10.68	13.43	13.91	15.6
EBIT Margin(%)	11.22	10.62	4.75	1.45	4.92	11.1	10.99	10.21	11.58	14.36	14.77
Pre Tax Margin(%)	2.63	0.61	-5.81	-10.68	-8.34	6.73	6.46	6.79	8.89	12.79	13.85
PAT Margin (%)	2.09	0.3	-5.08	-9.46	-8.45	6.49	15.54	-2.89	7.16	10.76	10.66
Cash Profit Margin (%)	8.79	7.89	3.38	-2.63	-1.4	9.34	17.97	0.05	10.38	13.34	12.72
ROA(%)	1.11	0.16	-2.91	-5.19	-4.58	1.8	5.47	-1.35	5.93	10.94	11.89
ROE(%)	4.42	0.68	-13.67	-28.31	-31.26	16.4	51.58	-6.23	11.51	18.82	18.83
ROCE(%)	9.33	8.61	4.11	1.14	3.75	4.64	6.02	7.19	13.24	19.68	21.85
Receivable days	46.71	46.02	37.39	44.61	55.67	116.93	72.65	52.52	54.08	49.99	50.74
Inventory Days	144.31	131.23	118.4	120.54	111.63	218.9	136.49	106.25	111.18	99.04	93.67
Payable days	76.32	98.28	107.34	88.85	102.88	204.55	127.51	75.39	78.84	54.09	46.35
PER(x)	8.48	100.09	0	0	0	0	25.59	1.16	6.74	14.07	18.64
Price/Book(x)	0.35	0.54	0.41	0.26	0.56	0.77	1.57	0.4	0.72	2.42	3.21
Dividend Yield(%)	0.68	0	0	0	0	0	0	0	0	1.49	1.17
EV/Net Sales(x)	1.02	1.13	1.01	1.16	1.25	2.21	1.9	0.44	0.66	1.6	2.06
EV/Core EBITDA(x)	5.22	5.76	6.13	12.76	9.51	15.49	14.04	3.35	4.4	10.26	12.41
Net Sales Growth(%)	7.77	12.48	11.96	-9.84	-5.6	-46.79	20.45	-13.44	-2.63	28.17	21.57
EBIT Growth(%)	60.47	5.63	-49.62	-72.12	219.62	12.09	17.29	-19.58	10.55	58.87	24.93
PAT Growth(%)	1142.6	-83.93	-2001.66	-69.61	15.69	138.13	183.9	-116.08	341.89	92.55	20.3
EPS Growth(%)	2083.54	-86.43	-2465.38	-69.77	16.48	24.43	117.69	772.93	-64.28	94.71	20.21
Debt/Equity(x)	1.66	1.88	2.36	3.38	4.62	5.6	4.56	0.47	0.35	0.22	0.17
Current Ratio(x)	0.95	0.73	0.76	0.65	0.61	0.58	0.65	1.51	1.7	2.22	2.44
Quick Ratio(x)	0.4	0.31	0.31	0.28	0.27	0.26	0.31	0.8	0.87	1.1	1.21
Interest Cover(x)	1.31	1.06	0.45	0.12	0.37	2.54	2.42	2.98	4.3	9.16	16.04
Total Debt/Mcap(x)	4.77	3.48	5.72	12.79	8.21	7.3	2.9	1.19	0.48	0.09	0.05

Usha Martin Shareholding Pattern

#	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024
Promoter	49.04	48.51	48.3	47.96	47.57	47.53	47.15	46.79	46.69	45.35
FII	8.46	8.55	8.55	8.76	8.69	9.35	9.15	11.85	12.74	14.56
DII	0.05	0.05	0.05	0.04	0.82	2.09	3.38	3.8	3.4	3.54
Public	40.93	41.36	41.58	41.73	41.41	39.51	38.8	36.04	35.65	35.03
Others	1.52	1.52	1.52	1.52	1.52	1.52	1.52	1.52	1.52	1.52
Total	100	100	100	100	100	100	100	100	100	100

#	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024
Promoter	14.94	14.78	14.72	14.62	14.5	14.49	14.37	14.26	14.23	13.82
FII	2.58	2.61	2.61	2.67	2.65	2.85	2.79	3.61	3.88	4.44
DII	0.02	0.02	0.02	0.01	0.25	0.64	1.03	1.16	1.04	1.08
Public	12.47	12.61	12.67	12.72	12.62	12.04	11.82	10.98	10.86	10.68
Others	0.46	0.46	0.46	0.46	0.46	0.46	0.46	0.46	0.46	0.46
Total	30.47	30.47	30.47	30.47	30.47	30.47	30.47	30.47	30.47	30.47

Pros

Debtor days have improved from 54.09 to 46.35days.
Company is almost debt free.

Cons

Promoter holding is low: 45.35%.
Stock is trading at 4.4 times its book value.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

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Usha Martin

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Usha Martin Research see more...

Overview Inc. Year: 1986Industry: Steel & Iron Products

Usha Martin Share Price

Alert Data

Quarterly Price

Peer Comparison

Usha Martin Quarterly Results

Usha Martin Profit & Loss

Growth Rates

Usha Martin Balance Sheet

Usha Martin Cash Flow

Usha Martin Ratios

Usha Martin Shareholding Pattern

Usha Martin News

Top Unlisted Companies & InstaBuy Companies

Electrosteel Steel Ltd

IPO

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