Conference Call with Usha Martin Management and Analysts on Q3FY25 Performance and Outlook. Listen to the full earnings transcript.
Iron & Steel Products company Usha Martin announced Q3FY25 results Financial Highlights Q3FY25: Revenue from operations increased by 8.0% to Rs 860.5 crore in Q3FY25 Growth in the core Wire Rope segment (up by 9.8% YoY) and the Wire & Strand segment (up by 17.6% YoY) contributed positively to the revenue, while revenue from the LRPC segment declined (down by 1.4% YoY) Q3FY25 Operating EBITDA stood at Rs 142.7 crore as against Rs 157.1 crore, lower by 9.1% Operating EBITDA margin stood at 16.6% in Q3FY25 compared to 19.7% in Q3FY24 The Company's margin performance reflected the impact of softer realizations and challenging market conditions, particularly in international markets, while a diversified and optimized product portfolio continued to support performance In Q3FY25, PBT amounted to Rs 117.6 crore, a 15.7% YoY decrease from Rs 139.6 crore PAT amounted to Rs 92.3 crore in Q3FY25 as against Rs 107.5 crore in Q3FY24 Basic EPS stood at Rs 3.04 for the quarter Rajeev Jhawar, Managing Director said, “Usha Martin delivered healthy volume growth of ~11% and a revenue increase of ~8% YoY in Q3FY25, despite a challenging global environment. Our operating profits were impacted by softer realizations and subdued market conditions in this quarter, particularly in international markets, which affected our margins and bottom-line performance. However, we believe the Company's operational resilience and inherent strengths helped us navigate most of these macro-led headwinds to a large extent. As part of our long-term strategy, we have embarked on the next phase of transformation under the ‘One Usha Martin’ approach. This initiative is aimed at integrating our global operations to enhance efficiency, optimize costs, and strengthen our competitive edge. Key focus areas include centralizing procurement to leverage economies of scale, streamlining logistics for improved cost efficiency and delivery timelines, and optimizing our manufacturing operations in Brunton Shaw UK. Building on the successful turnaround achieved over the past few years, the ‘One Usha Martin’ initiative is a significant step toward future proofing our business, driving margin improvements, and increasing operating leverage. Following the recent unveiling of our refreshed brand identity, we remain optimistic about the future and confident in our ability to leverage integration synergies to drive further improvements. While these efforts will take some time to fully materialize, they are designed to deliver long-term value and significantly enhance our operational efficiencies. With our diverse product portfolio, robust manufacturing and R&D; capabilities, along with a growing network across global and domestic markets, we believe, we are well-positioned to meet evolving customer needs while driving sustainable value creation for all stakeholders” Result PDF
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
Conference Call with Usha Martin Management and Analysts on Q1FY25 Performance and Outlook. Listen to the full earnings transcript.
Iron & Steel products company Usha Martin announced Q1FY25 results: Revenue from operations increased by 1.5% to Rs 826.4 crore in Q1FY25 Q1FY25 Operating EBITDA stood at Rs 154.0 crore as against Rs 145.7 crore, higher by 5.7% Operating EBITDA margin was recorded at 18.6% in Q1FY25 compared to 17.9% in Q1 FY24 EBITDA margins including other income for Q1FY25 stood at 19.2%, compared to 18.3% in Q1 FY24 In Q1FY25, PBT amounted to Rs 134.7 crore, a 4.3% YoY increase from Rs 129.1 crore PAT amounted to Rs 103.8 crore in Q1FY25 from Rs 100.8 crore, up 3.1% Basic EPS stood at Rs 3.42 for the quarter as against Rs 3.31 Commenting on the performance Rajeev Jhawar, Managing Director said, “In the backdrop of challenging macroeconomic conditions, Usha Martin commenced FY25 on a positive note, reporting revenues of ~Rs. 826 crore and achieving an operating EBITDA margin of 18.6%. Our core wire ropes division continued to perform well, contributing 72% to our overall consolidated revenues. During this quarter our primary focus was on ramping up the newly established lines for our value-added products. As we enhance utilization levels, we anticipate a stronger performance in the second half of the year. In the face of global headwinds, our strategy in our international operations remains to enhance our reach and capture market share by delivering world-class quality products and services. Our integration of international businesses with Indian operations continues to drive growth synergies, further strengthening our position. Domestically, with infrastructure projects such as bridges, ropeways, and high-speed railways, along with the expansion in tier-2 and tier-3 cities, we are optimistic about the potential of the domestic market as well. Overall, the business pipeline remains promising in both overseas and Indian markets, particularly for our high-end specialty offerings. Looking ahead, our focus remains on value-driven volume expansion to enhance our operational and financial performance. We anticipate maintaining the development momentum as we build on progress from multiple growth initiatives. With world-class capabilities and inherent strengths Usha Martin has developed over six decades, we believe we are well-positioned to create sustainable value for all stakeholders.” Result PDF