Conference Call with Usha Martin Management and Analysts on Q2FY25 Performance and Outlook. Listen to the full earnings transcript.
Iron & Steel Products company Usha Martin announced H1FY25 & Q2FY25 results Q2FY25 Financial Highlights: Revenue from operations increased by 13.6% to Rs 891.2 crore in Q2FY25. Strong growth in the core Wire Rope segment (up by 19.2% YoY) and the Wire & Strand segment (up by 16.2% YoY) contributed positively to the revenue while revenue from LRPC segment declined (down by 6.7% YoY). Q2FY25 Operating EBITDA stood at Rs 160.8 crore as against Rs 144.3 crore, higher by 11.4%. Operating EBITDA margin stood at 18.0% in Q2FY25 compared to 18.4% in Q2FY24. A diversified product portfolio have supported the Company's margin performance in a dynamic global environment In Q2FY25, PBT amounted to Rs 141.4 crore, a 2.1% YoY decrease from Rs 144.5 crore. PAT amounted to Rs 109.3 crore in Q2FY25 as against Rs 109.5 in Q2FY24. Basic EPS stood at Rs 3.59 for the quarter. H1FY25 Financial Highlights: Revenue from operations were up by 7.4% YoY to Rs 1,717.5 crore. Operating EBITDA stood at Rs 314.8 crore as against Rs 290.0 crore, increasing 8.6% on a YoY basis. Operating EBITDA margin for the period was 18.3% vs. 18.1% YoY. PAT stood at Rs 213.2 crore as against Rs 210.3 crore, up by 1.4% on a YoY basis. Basic EPS stood at Rs 7.01. Rajeev Jhawar, Managing Director, Usha Martin, said: “I am pleased to share that we have delivered a resilient financial performance and strong operational execution in Q2FY25. Usha Martin registered a 11.0% YoY growth in volumes and a 13.6% growth in topline, driven by a sharp recovery in domestic markets. Our focus on volume and value growth continues, and we remain confident in sustaining this momentum through the rest of the year, supported by a seasonally stronger second half. Additionally, we aim to maintain healthy EBITDA margins and bottom-line performance as we register growth in volumes and revenue. During the period, our core wire ropes division performed strongly, despite a traditionally softer quarter due to monsoon. The division recorded an impressive 18.5% growth in volumes and a 19.2% increase in revenue. With the expanded capacities, our teams across domestic and international markets are well-positioned to drive sales of high-quality wire ropes for critical applications. This should enable us to capture greater market share globally while consistently meeting clients' rigorous standards and remaining focused on delivering dependable solutions across essential sectors. As we move forward, our future capex initiatives are set to position us strongly to meet the needs of an evolving market and sustain our growth. The Company remains committed to advancing its strategic priorities, including enhancing value-added offerings, diversifying the product portfolio, modernizing plant operations and expanding global distribution and marketing efforts. With a robust portfolio and the inherent strengths of Usha Martin, we are confident in our ability to drive long-term growth and capitalize on emerging opportunities in the coming years.” Result PDF