Conference Call with Usha Martin Management and Analysts on Q2FY26 Performance and Outlook. Listen to the full earnings transcript.
Iron & Steel Products company Usha Martin announced Q2FY26 results Revenue from operations increased by 1.8% to Rs 907.6 crore in Q2FY26. Q2FY26 Operating EBITDA stood at Rs 173.0 crore as against Rs 160.8 crore, higher by 7.6%. Operating EBITDA margin stood at 19.1% in Q2FY26 compared to 18.0% in Q2 FY25. In Q2FY26, PBT amounted to Rs 167.8 crore, a 18.7% increase from Rs 141.4 crore. PAT from continued operations increased by 16.7% at Rs 127.6 crore in Q2FY26. Basic EPS from continued operations stood at Rs 4.19 for the quarter. Rajeev Jhawar, Managing Director, said: “We are pleased to report a healthy performance this quarter, with a revenue of Rs 907.6 crore, highest oEBITDA of Rs 173 crore (since the sale of steel business) and EBITDA margins of 19.1%, despite a challenging global environment. A favorable product mix supported our operating results in Q2FY26. Additionally, we see benefits of our ‘One Usha Martin’ program, which is driving sharper cost controls, greater agility and improved execution across the Group. On the balance sheet front, we paid Rs 157 crore of debt during the quarter entirely through internal accruals. This has been possible due to strong operating cash flow generation during H1FY26. oEBITDA to operating cash flows (before tax) stood at 123% with cash flow generation of Rs 390 crore. As a result, our net cash position stood at Rs 111 crore and ROCE of 20.3% from continued operations. We expect the second half of FY26 to be stronger as the impact of our ongoing initiatives becomes more visible. With an expanding product portfolio and increasing customer acceptance across regions, we are enhancing our position in the global arena. Our R&D; efforts remain centered on developing advanced, application-specific products to capture a larger share of high-value markets. Backed by improved cost competitiveness and operational efficiency, we believe we are now in a stronger position to build on this momentum and deliver stronger performance going forward.” Result PDF
Conference Call with Usha Martin Management and Analysts on Q1FY26 Performance and Outlook. Listen to the full earnings transcript.
Iron & Steel Products company Usha Martin announced Q1FY26 results Revenue from operations increased by 7.4% to Rs 887.2 crore in Q1FY26. Q1FY26 Operating EBITDA stood at Rs 144.6 crore as against Rs 154.0 crore, lower by 6.1% In Q1FY26, PBT amounted to Rs 129.6 crore, a 3.8% YoY decrease from Rs 134.7 crore. PAT amounted to Rs 100.8 crore in Q1FY26 as against Rs 103.8 crore in Q1FY25. Basic EPS stood at Rs 3.31 for the quarter. Rajeev Jhawar, Managing Director, said: “We have commenced FY26 on a stable note, reporting a volume increase of 10.4% year-on-year, led by growth in our wire and wire rope segments and supported by sustained demand across key markets. Our margin profile remained resilient, aided by early gains from the ongoing ‘One Usha Martin’ transformation. As we near the completion of the foundational phase of our ‘One Usha Martin’ journey, which was initiated in FY25 and is expected to conclude in the first half of this fiscal, we remain confident of delivering stronger outcomes from the second half of FY26 onwards. These initiatives are focused on building an agile, integrated, and future-ready organisation that will strengthen our ability to scale while optimising our costs. The benefits of this transformation are also beginning to reflect in our financial metrics. We continue to make encouraging progress in strengthening our balance sheet, optimising working capital, and delivering robust cash flows. These efforts have resulted in a net debt-free position at both the standalone and consolidated levels. With the Ranchi capacity expansion progressing as per schedule, and with continued momentum across other strategic initiatives, we are well positioned to capitalise on emerging growth opportunities. These developments, coupled with a robust order pipeline across international and domestic markets, reinforce our belief that Usha Martin is poised for a meaningful step-up in its growth trajectory in the periods ahead.” Result PDF
Conference Call with Usha Martin Management and Analysts on Q4FY25 & Full Year Performance and Outlook. Listen to the full earnings transcript.
Iron & Steel Products company Usha Martin announced Q4FY25 & FY25 results Q4FY25 Financial Highlights: Revenue from operations increased by 8.1% to Rs. 896.1 crore in Q4FY25 Q4FY25 Operating EBITDA stood at Rs. 139.6 crore as against Rs. 151.5 crore, lower by 7.9% Operating EBITDA margin stood at 15.6% in Q4FY25 compared to 18.3% in Q4FY24 In Q4FY25, PBT amounted to Rs. 133.1 crore, a 2.4% YoY decrease from Rs. 136.4 crore PAT amounted to Rs. 100.9 crore in Q4FY25 as against Rs. 106.3 crore in Q4FY24 Basic EPS stood at Rs. 3.32 for the quarter FY25 Financial Highlights: Revenue from operations were up by 7.7% YoY to Rs. 3,474.2 crore Operating EBITDA stood at Rs. 597.1 crore as against Rs. 598.6 crore Operating EBITDA margin for the period was 17.2% vs. 18.6% YoY PAT stood at Rs. 406.3 crore as against Rs. 424.1 crore, down by 4.2% on a YoY basis Basic EPS stood at Rs. 13.37 Commenting on the performance Rajeev Jhawar, Managing Director said, “FY25 ended on a steady note, with revenue at Rs. 3,474 crore, registering an 7.7% year-on-year growth, led by a 9.5% increase in sales volumes. We remain focused on operational efficiency and value-migration, which should support margin improvement and enable us to accelerate growth in the coming quarters. We are pleased with the progress of our ‘One Usha Martin’ initiative, which is now deeply embedded in our culture and way of working across the organisation. We are implementing best practices in procurement, logistics, administration and backend operations to drive cost efficiencies globally. These initiatives have also enabled tighter working capital discipline. The combination of improved cash flows and a leaner balance sheet highlights the progress we have achieved thus far. With this foundation in place, we are confident of building further momentum, with the impact of ‘One Usha Martin’ to intensify from the second half of FY26. Looking ahead, we remain focused on high-value opportunities in the domestic market and on executing our strategic capex programs with discipline. While the external environment presents some near-term uncertainty, we believe that the initiatives undertaken across the organisation have strengthened our business model. This positions us well to drive value-led growth and deliver sustainable performance over the long term.” Result PDF