Usha Martin Limited concluded FY26 with consolidated revenue of INR 3,691 crore, marking a 6.2% annual increase. The company achieved an operating EBITDA of INR 705 crore, reflecting a strong margin of 19.1%. With a focus on high-performance rope applications and operational efficiency through the ‘One Usha Martin’ program, the firm has transitioned to a net cash position of INR 332 crore, signaling significant balance sheet strength for the upcoming fiscal year.
Financial Performance Overview
Usha Martin reported strong financial results for Q4 FY26, with consolidated revenue standing at INR 979 crore, a 9.3% increase year-on-year. Operating EBITDA for the quarter reached INR 212 crore, representing a 21.6% margin, the highest since the company’s exit from the steel business. For the full year, the company’s Profit After Tax (PAT) from continuing operations grew to INR 491 crore compared to INR 406 crore in the previous year.
Strategic Growth and Operational Efficiency
The company continues to prioritize high-value segments, including oil and offshore, elevators, port cranes, and mining. Investments in manufacturing capabilities at the Ranchi facility have enabled the execution of complex projects like the Oceanmax initiative. Furthermore, the ‘One Usha Martin’ program has successfully driven structural cost optimization, contributing to INR 65 crore to INR 70 crore in savings over the last 18 months.
Outlook and Capital Expenditure
Looking ahead, Usha Martin anticipates 10% to 12% volume growth for the next 2 to 3 years. The management has outlined a INR 300 crore capital expenditure plan over the next two years to expand capacity for elevator ropes and plasticated LRPC. The company remains committed to maintaining a minimum 20% operating margin by focusing on a superior product mix and geographical diversification, with international revenues now accounting for 57% of the total topline.
Source: BSE
