Usha Martin Limited has commenced FY27 with robust financial performance. The company reported a 16% year-on-year increase in consolidated revenue to INR 1,033 crore for the first quarter ended June 30, 2026. Operating EBITDA saw a significant jump of 44% to INR 208 crore, with margins expanding to 20.1%, driven by a focus on high-value products and effective cost management.
Usha Martin Reports Strong Q1 FY27 Performance
Usha Martin Limited announced its financial results for the first quarter of FY27, showcasing a strong start to the fiscal year. Consolidated revenue from operations rose by 16.4% year-on-year to INR 1,033 crore for the quarter ended June 30, 2026, compared to INR 887 crore in the corresponding period last year. This growth reflects the company’s strategic focus on specialized and high-value products.
EBITDA and Margins Surge
Operating EBITDA grew substantially by 44% year-on-year, reaching INR 208 crore from INR 145 crore. This impressive growth in profitability was attributed to a richer product mix, effective cost recovery, and strong operating leverage. Consequently, the EBITDA margin improved by 380 basis points year-on-year to 20.1%. Profit after tax for the quarter also saw a healthy increase of 41% to INR 142 crore from INR 101 crore.
Segmental Performance Highlights
The Wire Rope business delivered a revenue growth of 18% year-on-year, with the value-added rope component now constituting 73% of the segment’s total. The wire and strand segment experienced robust growth of 31.7% year-on-year. While the LRPC segment saw marginal growth of 3.9%, the company noted positive traction supported by healthy domestic and export demand, including a significant international order for plasticated LRPC strand.
Oceanfibre continues to build momentum, showing progress in offshore and heavy lifting applications and is viewed as an important future growth lever. The company highlighted a strategic shift towards high-value products and applications, backed by investments in manufacturing and R&D capabilities.
Financial Health and Future Outlook
Profitability translated into strong cash flow, with operating cash flow of approximately INR 242 crore, representing a cash conversion of 116% of operating EBITDA. The company closed the quarter with a net cash position of approximately INR 465 crore. Capital expenditure for the quarter was INR 73 crore, and for FY27, the company expects capex to be between INR 250 crore to INR 300 crore, focusing on capacity expansion for specialized wire rope and elevator ropes.
Looking ahead, Usha Martin aims for value-led volume growth in the Wire Rope segment, coupled with improving product mix and scaling newer verticals. The company remains confident in delivering consistent and profitable growth, supported by its differentiated portfolio, customer relationships, and strong balance sheet.
Source: BSE
