Usha Martin Limited has informed the Exchange about Investor Presentation
USHA MARTIN
Date: 30th April 2026
The Secretary BSE Limited Phiroze Jeejeebhoy Towers, Dalal Street Mumbai – 400 001 [Scrip Code: 517146]
The Manager National Stock Exchange of India Ltd Exchange Plaza, 5th Floor, Plot No.C/1, G Block, Bandra Kurla Complex, Bandra Mumbai – 400 051 [Symbol: USHAMART]
la Bourse de
Societe de Luxembourg 35A Bouleverd Joseph II L-1840, Luxembourg [Scrip Code: US9173002042]
Dear Sir/Madam,
Sub.: Earnings Presentation - Q4 FY26
Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, please find enclosed an Earnings Presentation – Q4 FY26 on the Audited Financial Results of the Company for the quarter and year ended 31st March 2026.
The presentation is also being made available on the website of the Company i.e. www.ushamartin.com
Kindly take the same on record.
Thanking you,
Yours faithfully, For Usha Martin Limited
Manish Agarwal Company Secretary & Compliance Officer
Enclosed: As above
USHA MARTIN LIMITED CIN : L31400WB1986PLC091621
frr> Regd. Office: 2A Shakespeare 'v Sarani, Kolkata - 700071 , India
0 (00 9133) 71006300 .C:::::,. (00 91 33) 71006492
B contact@ushamartin.co.in
www.ushamartin.com
Q4 & FY26 RESULTS Earnings Presentation Earnings Presentation
A r·l 2026 April 2026
|
USHA MARTIN
Disclaimer Disclaimer
slides
fairness
completeness,
for any securities,
(the “Presentation”),
and the accompanying
which have been prepared
or warranty, express or implied, whatsoever,
has been prepared by the Company based on information
have been prepared solely for information purposes and do not constitute any offer, recommendation
This presentation and the accompanying slides {the "Presentation"), which have been prepared by Usha Martin Ltd. {the This presentation by Usha Martin Ltd . (the "Company"), have been prepared solely for information purposes and do not constitute any offer, recommendation or invitation to “Company”), or invitation to purchase or subscribe for any securities, and shall not form the basis or be relied on in connection with any contract or binding and shall not form the basis or be relied on in connection with any contract or binding purchase or subscribe commitment whatsoever. No offering of securities of the Company will be made except by means of a statutory offering document commitment whatsoever . No offering of securities of the Company will be made except by means of a statutory offering document containing detailed information about the Company. containing detailed information about the Company . This Presentation has been prepared by the Company based on information and data which the Company considers reliable, but This Presentation reliable, but the Company makes no representation or warranty, express or implied, whatsoever, and no reliance shall be placed on, the truth, the Company makes no representation and no reliance shall be placed on, the truth, accuracy, completeness, fairness and reasonableness of the contents of this Presentation. This Presentation may not be all of this Presentation . This Presentation may not be all accuracy, inclusive and may not contain all of the information that you may consider material. Any liability in respect of the contents of, or inclusive and may not contain all of the information that you may consider material . Any liability in respect of the contents of, or any omission from, this Presentation is expressly excluded. is expressly excluded . any omission from, this Presentation Certain matters discussed in this presentation may contain forward looking statements concerning the Company's future business future business Certain matters discussed in this presentation may contain forward looking statements prospects and business profitability. Such forward-looking statements are not guarantees of future performance and are subject prospects and are subject to a number of risks and uncertainties that are difficult to predict. These risks and uncertainties include, but are not limited to, the include, but are not limited to, the to a number of risks and uncertainties Company's ability to manage growth, the fluctuations in earnings, competition {both domestic and international), economic growth economic growth in earnings, competition ability to manage growth, Company’s in India and abroad, ability to attract and retain highly skilled professionals, time and cost over runs on contracts, the Company's in India and abroad, ability to attract and retain highly skilled professionals, the Company’s ability to manage its international operations, Government policies and actions regulations, interest and other fiscal costs generally interest and other fiscal costs generally ability to manage its international operations, Government policies and actions regulations, prevailing in the economy. The Company does not undertake to make any announcement in case any of these forward-looking in case any of these forward -looking does not undertake to make any announcement prevailing statements become materially incorrect in future or update any forward-looking statements made from time to time by or on statements in future or update any forward -looking statements made from time to time by or on behalf of the Company. behalf of the Company .
(both domestic and international), time and cost over runs on contracts,
in the economy . The Company incorrect
and business profitability . Such forward -looking statements
the Company’s of future performance
to predict . These risks and uncertainties
and data which the Company
and reasonableness
are not guarantees
become materially
that are difficult
of the contents
the fluctuations
concerning
considers
USHA MARTIN
Q4 FY26 Earnings Presentation Q4 FY26 Earnings Presentation
|
2 2
Key performance highlights - Consolidated FY26 Key performance highlights
– Consolidated FY26
Revenue Rs 3,691 cr
Operating EBITDA Operating EBITDA Rs 705 er Rs 705 cr
Operating EBITDA margin Operating EBITDA margin 19.1% 19.1%
PAT Rs 491 cr
FY25 Rs 3,474
cr +6.2%
FY25 Rs 597 er FY25 Rs 597
cr +18.1%
FY2517.2% FY25 17.2% +190bps
FY25 Rs 406 cr
+20.9%
ROCE 20.6%
FY25 19.3% +130bps
Operating eashflow Operating cashflow Rs 736 er Rs 736 cr
FY25 Rs 541 er FY25 Rs 541 cr +36.0%
Capex Rs 198 cr
FY25 Rs 245 cr
Net cash Rs 332 cr
FY25 Net debt Rs 63 cr
USHA MARTIN
Note 1: As on 31st March 2026 Note 1: As on 31st March 2026 Note 2: All figures mentioned in the slide are for continuing operations Note 2: All figures mentioned in the slide are for continuing operations
Q4 FY26 Earnings Presentation Q4 FY26 Earnings Presentation
|
3 3
Key financial highlights - Consolidated Q4 & FY26 Key financial highlights
– Consolidated Q4 & FY26
NET REVENUE FROM OPERATIONS NET REVENUE FROM OPERATIONS
3,474 3,474
3,691 3,691
896 896
917 917
I
I
979 979
I
Q4 FY25 Q3 FY26 Q4 FY26 Q4 FY25
Q3 FY26
Q4 FY26
FY25 FY25
FY26 FY26
QoQ: 6.8%
Shift (%)
''"" QoQ: 6.8%
11.3% 11.3%
•
■ PAT • MARGINS
MARGINS
PAT
11.7% 11.7%
•
15.1% 15.1%
•
11.7% 11.7%
•
406 406
'
I
155 155
108 108
101 101
■ ■ I
Q4 FY25 Q3 FY26 Q4 FY26 Q4 FY25
Q3 FY26
Q4 FY26
1,1,■ QoQ: 44.1% Shift (%)
QoQ: 44.1%
YoY: 53.7% YoY: 53.7%
FY25 FY25
FY26 FY26
20.9% _J
20.9%
12.6% 12.6%
•
491 491
100%
80%
60%
40%
20%
0%
In Rs. crore In Rs. crore
• MARGINS MARGINS
■ OPERATING EBITDA
OPERATING EBITDA 19.2% 19.2%
21.6% 21.6%
15.6% 15.6%
•
•
•
17.2% 17.2%
•
597 597
'
I I
140 140
176 176
■ ■ ■
Q4 FY25 Q3 FY26 Q4 FY26 Q4 FY25
Q3 FY26
Q4 FY26
212
212 I
FY25 FY25
19.1% 19.1%
•
705 705
FY26 FY26
1000
900
800
700
600
500
400
300
200
100
0
,------------------------------------------------------------------------, Revenue from operations increased by 9.3% Y-o-Y to Rs. 979 ▪ Revenue from operations crore in 04 FY26 crore in Q 4 FY 26
increased by 9 .3% Y -o-Y to Rs . 979
▪ Operating
Operating EBITDA margin improved to 21.6% in 04 FY26 from 15.6% in 04 FY25 15.6 % in Q 4 FY 25
EBITDA margin improved to 21.6 % in Q 4 FY 26 from
Margin expansion was driven by better product mix, ▪ Margin expansion was driven by better product mix, increased share of high-performance ropes, and increased ropes, and of continued cost discipline continued cost discipline
high -performance
share
▪
PAT stood at Rs. 155 crore in 04 FY26 as against Rs. 101 crore PAT stood at Rs . 155 crore in Q 4 FY 26 as against Rs . 101 crore in 04 FY25 in Q 4 FY 25
'----------------------------------------------------------------------- -'
I I
YoY: 9.3% YoY: 9.3%
6.2%
6.2% ~
ew1e■ QoQ: 20.2% QoQ: 20.2% Shift (%)
YoY: 51.6% YoY: 51.6%
18.1% 18.1%
USHA MARTIN Note 2: All figures mentioned are for continuing operations
Note 1: Operating EBITDA & EBITDA Margins calculated without other income Note 1: Operating EBITDA & EBITDA Margins calculated without other income Note 2: All figures mentioned are for continuing operations
Q4 FY26 Earnings Presentation Q4 FY26 Earnings Presentation
|
4 4
Revenue breakdown by segment Revenue breakdown by segment
In Rs. crore In Rs. crore
WIRE ROPE WIRE ROPE
2,683 2,683
2,487
• 2,487
707 707
615 615
657 657
■ I
I
Q4 FY25 Q3 FY26 Q4 FY26 Q4 FY25
Q3 FY26
Q4 FY26
QoQ: 7.6 %
Shift (%)
'''" QoQ: 7.6%
YoY : 14.8% YoY : 14.8 %
LRPC LRPC
FY25 FY25
FY26 FY26
7.9% _J
7.9 %
366 366
•
308 308
•
328 328
408 408
WIRE WIRE
118 118
FY25 FY25
FY26 FY26
24.4% _J
24.4%
90 90
105 105
■ ■ I
Q4 FY25 Q3 FY26 Q4 FY26 Q4 FY25
Q3 FY26
Q4 FY26
QoQ: 12.3%
Shift (%)
''''' QoQ: 12.3%
YoY: 31.2% YoY: 31.2%
,'
▪
▪
In 04 FY26, the Wire Rope segment registered a 14.8% Y-o-Y In Q 4 FY 26 , the Wire Rope segment a 14.8 % Y -o-Y increase and Wire segment registered a 31.2% Y-o-Y increase increase and Wire segment Segment wise % of overall sales 04 FY26: Segment wise % of overall sales Q 4 FY 26 : Wire Rope - 72% (FY25: 72%) ▪ Wire Rope – 72 % (FY 25 : 72 % )
registered registered a 31.2% Y -o-Y increase
... ,
101 101
79 79
80 80
I ■ ■
Q4 FY25 Q3 FY26 Q4 FY26 Q4 FY25
Q3 FY26
Q4 FY26
FY25 FY25
FY26 FY26
Wire-12% (FY25: 9%) ▪ Wire – 12% (FY 25 : 9 % )
▪
LRPC - 8% (FY25: 11%) LRPC – 8 % (FY 25 : 11% )
twee■ QoQ: 1.1% Shift (%)
QoQ: 1.1%
YoY : 20.4% YoY : 20.4%
15.8% 15.8%
USHA MARTIN Note 1: All figures mentioned in the slide are consolidated financials
Note 1: All figures mentioned in the slide are consolidated financials
Q4 FY26 Earnings Presentation Q4 FY26 Earnings Presentation
|
5 5
Diversified presence across geographies and segments Diversified presence across geographies and segments
Revenue Segmentation for FY26 Revenue Segmentation for FY26
PRODUCT SEGMENTATION PRODUCT SEGMENTATION
END INDUSTRY SEGMENTATION1 1 END INDUSTRY SEGMENTATION
GEOGRAPHY SEGMENTATION GEOGRAPHY SEGMENTATION
Others, 8% Others , 8%
Wire, 11% Wire , 11%
LRPC, 8% LRPC , 8%
Others, 3% Others , 3%
Fishing, 2% Fishing , 2%
Mining, 6% Mining , 6%
Utilities , 3%
Engineering, 25% Engineering , 25%
Americas, 9% Americas , 9%
Middle East & Africa
, 9%
Elevator, 9% Elevator , 9%
Auto, 6% Auto , 6%
Asia Pacific, 13° Asia Pacific , 13%
truction &
Construction & Infrastructure , 10%
lndia,43% India , 43%
Wire Rope , 73%
Crane , 19%
Oil & Offshore
, 17%
Europe , 26%
,-----------------------------------------------------------------------------------------------------------------------------------------------------------------------, : :
Wire Rope segment's contribution to overall revenues increased to 73% in FY26, up from 72% in FY25 increased to 73 % in FY 26 , up from 72 % in FY 25
▪ Wire Rope segment’s
to overall revenues
contribution
▪
The share of international business rose to 57% in FY26 from 55% in FY25 The share of international business rose to 57 % in FY 26 from 55 % in FY 25
: '----------------------------------------------------------------------------------------------------------------------------------------------------------------------;
I I
I I
USHA MARTIN Note 2: All figures mentioned in the slide are consolidated financials
Note 1: For all product segments Note 1: For all product segments Note 2: All figures mentioned in the slide are consolidated financials
Q4 FY26 Earnings Presentation Q4 FY26 Earnings Presentation
|
6 6
Successfully managing raw-material volatility Successfully managing raw
-material volatility
STEEL PRICE (RS. PER TONNE) STEEL PRICE (RS. PER TONNE)
61,691
55,392
54,097
FY23 FY23
FY24 FY24
FY25 FY25
Q3FY26 Q3FY26
Q4FY26 Q4FY26
49,356
50,376
EBITDA/TONNE2 (RS.) EBITDA/TONNE
2 (RS.)
26,473
FY23 FY23
32,299
FY24 FY24
30,148
FY25 FY25
39,496
33,350
Q3FY26 Q3FY26
Q4FY26 Q4FY26
FY26 FY26
51,052
FY26 FY26
34,107
USHA Note 1: All figures mentioned in the slide are consolidated financials Note 1: All figures mentioned in the slide are consolidated financials MARTIN Note 2: EBITDA calculated without other income & excluding UM Cables Note 2: EBITDA calculated without other income & excluding UM Cables
Q4 FY26 Earnings Presentation Q4 FY26 Earnings Presentation
|
7 7
Profitability indicators remain healthy Profitability indicators remain healthy
ROCE 2 (%) ROCE 2 (%)
22.8%
19.3%
20.6%
FY24 FY24
FY25 FY25
FY26 FY26
INTEREST COVERAGE (X) INTEREST COVERAGE (X)
34.4 34.4
23.2 23.2
18.8 18.8
ROE(%) ROE (%)
15.8%
FY25 FY25
16.8%
FY26 FY26
FIXED ASSET TURNOVER (X) FIXED ASSET TURNOVER (X)
2.5 2.5
2.4 2.4
19.2%
FY24 FY24
2.7 2.7
FY24 FY24
FY25 FY25
FY26 FY26
FY24 FY24
FY25 FY25
FY26 FY26
USHA MARTIN
Note 1: All figures mentioned in the slide are consolidated financials Note 1: All figures mentioned in the slide are consolidated financials Note 2: ROCE and ROE mentioned is for continuing operations Note 2: ROCE and ROE mentioned is for continuing operations
Q4 FY26 Earnings Presentation Q4 FY26 Earnings Presentation
|
8 8
Balance sheet strengthened, with net cash position at Rs. 332 crore Balance sheet strengthened, with net cash position at Rs. 332 crore
In Rs. crore In Rs. crore
GROSS DEBT GROSS DEBT
338 338
292 292
146 146
124 124
NET DEBT NET DEBT
63 63
FY24 FY24
FY25 FY25
FY26 FY26
FY24 FY24
FY25 FY25
GROSS DEBT TO EQUITY {X) GROSS DEBT TO EQUITY (X)
NET DEBT TO EQUITY {X) NET DEBT TO EQUITY (X)
0.12
0.12
0.05
0.02
FY24 FY24
FY25 FY25
0.04
FY26 FY26
FY24 FY24
FY25 FY25
-332 -332 FY26 FY26
-0.10
FY26 FY26
USHA MARTIN
Note 1: All figures mentioned in the slide are consolidated financials Note 1: All figures mentioned in the slide are consolidated financials
Q4 FY26 Earnings Presentation Q4 FY26 Earnings Presentation
|
9 9
Net working capital to turnover remains steady Net working capital to turnover remains steady
CURRENT RATIO {X) CURRENT RATIO (X)
NET WORKING CAPITAL {RS. CRORE) NET WORKING CAPITAL (RS. CRORE)
• 2.9
• 2.8
3.3
1,089
1,199
1,228
Mar-24 Mar-24
Mar-25 Mar-25
Mar-26 Mar-26
Mar-24 Mar-24
Mar-25 Mar-25
Mar-26 Mar-26
NET WORKING CAPITAL {DAYS) NET WORKING CAPITAL (DAYS)
NET WORKING CAPITAL TO TURNOVER {LTM, %) NET WORKING CAPITAL TO TURNOVER (LTM, %)
198
199
• 194
32.8%
32.9%
32.9%
Mar-24 Mar-24
Mar-25 Mar-25
Mar-26 Mar-26
Mar-24 Mar-24
Mar-25 Mar-25
Mar-26 Mar-26
I
I
Working capital remained stable as a percentage of turnover during FY26. Focus remains on improving inventory turns and recei further optimize cash conversion in FY27.
: : Working capital remained stable as a percentage of turnover during FY26. Focus remains on improving inventory turns and receivables to vab les to : further optimize cash conversion in FY27. : I ------------------------------------------------------------------------------------------------------------------------------------------------------------~
I
USHA MARTIN
Note 1: All figures mentioned in the slide are consolidated financials Note 1: All figures mentioned in the slide are consolidated financials
Q4 FY26 Earnings Presentation Q4 FY26 Earnings Presentation
|
10 10
Strong cash generation funded capex through internal accruals Strong cash generation funded capex through internal accruals
In Rs. crore In Rs. crore
OPERATING CASH FLOW (OCF) BEFORE INCOME TAX OPERATING CASH FLOW (OCF) BEFORE INCOME TAX AND% TO EBITDA AND % TO EBITDA
94% 94% • 561
FY24 FY24
166 166
FY24 FY24
91% 91% • 541
FY25 FY25
FREE CASH FLOW FREE CASH FLOW
177 177
FY25 FY25
104% 104%
736
FY26 FY26
457 457
FY26 FY26
Note 1: All figures mentioned in the slide are consolidated financials Note 1: All figures mentioned in the slide are consolidated financials
~~~~IN Note 2: EBITDA calculated without other income
Note 2: EBITDA calculated
without other income
▪ Operating
flow stood at Rs. 736 crore in FY26, Operating cash flow stood in FY 26 , crore reflecting 104% conversion of operating EBITDA reflecting 104 % conversion of operating EBITDA
at Rs . 736
cash
▪ Healthy free cash flows of Rs . 457 crore despite capex spend
Healthy free cash flows of Rs. 457 crore despite capex spend of Rs. 198 crore of Rs . 198 crore
Free cash flows have grown 2.Sx over FY25 ▪ Free cash flows have grown 2.5x over FY 25
Q4 FY26 Earnings Presentation Q4 FY26 Earnings Presentation
|
11 11
Long term issuer rating at 'IND A+'/ Outlook: Stable Long term issuer rating at ‘IND A+’ / Outlook: Stable
A+ A+
A A
A- A -
BBB+ BBB+
BBB BBB
BBB- BBB -
BB+ BB+
BB BB
BB- BB -
FY'18 FY'18
FY'19 FY'19
FY'20 FY'20
FY'21 FY'21
FY'22 FY'22
FY'23 FY'23
FY'24 FY'24
Jul'25 Jul'25
▪
,----------------------------------------------------------------------------------------------------------------------------------, India Ratings and Research Pvt. Ltd. reaffirmed Usha Martin Ltd.'s ratings at "IND A+/Stable" for Long Term : : India Ratings and Research Pvt . Ltd . reaffirmed Usha Martin Ltd .’s ratings at “IND A+/Stable” : Credit Facilities and "IND A1+" for Short-Term Credit Facilities Credit Facilities and “IND A 1+” for Short -Term Credit Facilities ' '---------------------- -------- ------------------------ -------- ------------------------ -------- ------------------------ -------- -----
for Long Term
India Ratings &Research
A Fitch Group Company
Current Rating Current Rating
A+ A+
Outlook Outlook
Last Review Last Review
Stable Stable
July'25 July’25
USHA MARTIN
Q4 FY26 Earnings Presentation Q4 FY26 Earnings Presentation
|
12 12
Management comment Management comment
Mr. Rajeev Jhawar Mr. Rajeev Jhawar
Managing Director Managing Director
Commenting on the performance Mr. Rajeev Jhawar, Managing Director said: Commenting said : on the performance Mr . Rajeev Jhawar, Managing Director "We are pleased to close FY26 on a strong note. 04 revenue grew ~ 9% Yo Y to Rs. 9 79 crore? and "We are pleased to close FY26 on a strong note. Q4 revenue grew ~9% YoY to Rs. 979 crore, and Operating EBITDA reached Rs. 212 crore - our highest quarterly EBITDA since the sale of our steel Operating EBITDA reached Rs. 212 crore business. Operating EBITDA margins improved to 21.6%? from 15.6% in 04 FY25. For the full year, business. Operating EBITDA margins improved to 21.6%, from 15.6% in Q4 FY25. For the full year, revenue grew 6.2% to Rs. 3,691 crore and Operating EBITDA grew 18.1% to Rs. 705 crore? with revenue grew 6.2% to Rs. 3,691 crore and Operating EBITDA grew 18.1% to Rs. 705 crore, with margins expanding to 19. 1%. margins expanding to 19.1%.
– our highest quarterly EBITDA since the sale of our steel
The performance was achieved despite a difficult external environment including geopolitical The performance was achieved despite a difficult external environment, including geopolitical tensions? disruptions in the Middle East and higher raw material costs. The improvement was driven tensions, disruptions in the Middle East, and higher raw material costs. The improvement was driven by a richer product mix and continued cost discipline and reflects the resilience of our global by a richer product mix and continued cost discipline and reflects the resilience of our global operating model. operating model.
The Company moved from a net debt of Rs. 63 crore in FY25 to a net cash position of Rs. 332 crore in The Company moved from a net debt of Rs. 63 crore in FY25 to a net cash position of Rs. 332 crore in FY26? with ~ 104 % of Operating EBITDA converted into cash. Free cash flows for the year stood at Rs. FY26, with ~104% of Operating EBITDA converted into cash. Free cash flows for the year stood at Rs. 457 crore - up nearly 2.5x over FY25 - even as we invested Rs. 198 crore in capacity and capability 457 crore – up nearly 2.5x over FY25 enhancement fully funded through internal accruals. ROCE improved to 20.6%? supported by enhancement, fully funded through internal accruals. ROCE improved to 20.6%, supported by better operating performance and disciplined capital allocation. better operating performance and disciplined capital allocation.
– even as we invested Rs. 198 crore in capacity and capability
Looking ahead, while the external environment remains uncertain we expect continued momentum Looking ahead, while the external environment remains uncertain, we expect continued momentum in our specialty product portfolio? supported by healthy demand across our key end-markets. With a in our specialty product portfolio, supported by healthy demand across our key end -markets. With a strong balance sheet established global customer relationships and a growing track record in high - strong balance sheet, established global customer relationships and a growing track record in high value applications? we believe Usha Martin is well positioned to deliver sustainable and profitable value applications, we believe Usha Martin is well positioned to deliver sustainable and profitable growth over the long term. n growth over the long term.”
USHA MARTIN
Q4 FY26 Earnings Presentation Q4 FY26 Earnings Presentation
|
13 13
ANNEXURE
|
14
Abridged Consolidated P&L statement Abridged Consolidated P&L statement
Revenue from Operations Revenue from Operations
Operating EBITDA Operating EBITDA
Operating EBITDA Margin (%) Operating EBITDA Margin (%)
Operating EBITDA / ton A (Rs.) Operating EBITDA / ton^ (Rs.)
Other Income Other Income
EBITDA EBITDA EBITDA Margin (%) EBITDA Margin (%)
Depreciation Depreciation
Finance Costs Finance Costs
Share of profit(-) /loss(+) of joint ventures Share of profit(
-) /loss(+) of joint ventures
PBT before exceptional item PBT before exceptional item PBT Margin (%) PBT Margin (%)
Exceptional item Exceptional item
PBT after exceptional item PBT after exceptional item
Tax Tax
PAT from continuing business PAT from continuing business
Profit/loss from discontinuing business Profit/loss from discontinuing business
PAT PAT
PAT Margin(%) PAT Margin (%)
Basic EPS (in Rs.) Basic EPS (in Rs.)
USHA MARTIN
*EPS is not annualized *EPS is not annualized
Q4 FY26 Q4 FY26
Q4 FY25 Q4 FY25
979.3 979.3
211.5 211.5
21.6% 21.6%
39,496 39,496
26.7 26.7
238.2 238.2
24.3% 24.3%
31.2 31.2
3.5 3.5
-4.5 -4.5
207.9 207.9
21.2% 21.2%
-3.5 -3.5
204.4 204.4
49.3 49.3
155.1 155.1
-7.1 -7.1
148.0 148.0
15.1% 15.1% 4.85 * 4.85 *
896.1 896.1
139.6 139.6
15.6% 15.6%
26,917 26,917
23.7 23.7
163.2 163.2
18.2% 18.2%
27.8 27.8
6.5 6.5
-4.2 -4.2
133.1 133.1
14.9% 14.9% - - 133.1 133.1
32.2 32.2
100.9 100.9 - - 100.9 100.9
11.3% 11.3% 3.32 * 3.32 *
Y-o-Y Change Y -o-Y Change (%) (%) 9.3% 9.3%
51.6% 51.6%
6.0 pps 6.0 pps
46.7% 46.7%
12.7% 12.7%
45.9% 45.9%
6.1 pps 6.1 pps
12.5% 12.5%
-46.2% -46.2%
-6.2% -6.2%
56.2% 56.2%
6.4 pps 6.4 pps - - 53.5% 53.5%
52.9% 52.9%
53.7% 53.7% - - 46.7% 46.7%
3.9 pps 3.9 pps 45.9% 45.9 %
Q3 FY26 Q3 FY26
917.1 917.1
175.9 175.9
19.2% 19.2%
33,350 33,350
4.1 4.1
180.0 180.0
19.6% 19.6%
28.8 28.8
4.8 4.8
-4.7 -4.7
151.1 151.1
16.5% 16.5%
-13.4 -13.4
137.8 137.8
30.1 30.1
107.7 107.7 - - 107.7 107.7
11.7% 11.7% 3.53 * 3.53 *
Q-o-Q Change Q -o-Q Change (%) (%) 6.8% 6.8%
20.2% 20.2%
2.4 pps 2.4 pps
18.4% 18.4%
550.2% 550.2%
32.3% 32.3%
4.7 pps 4.7 pps
8.4% 8.4%
-26.2% -26.2%
4.1% 4.1%
37.6% 37.6%
4.8 pps 4.8 pps
73.6% 73.6%
48.3% 48.3%
63.7% 63.7%
44.1% 44.1% - - 37.5% 37.5%
3.4 pps 3.4 pps 37.3% 37.3 %
FY26 FY26
3,691.1 3,691.1
705.1 705.1
19.1% 19.1%
34,107 34,107
68.9 68.9
774.0 774.0
21.0% 21.0%
116.4 116.4
19.6 19.6
-18.5 -18.5
656.4 656.4
17.8% 17.8%
-16.9 -16.9
639.6 639.6
148.4 148.4
491.2 491.2
-24.9 -24.9
466.3 466.3
12.6% 12.6%
15.30 15.30
FY25 FY25
3,474.2 3,474.2
597.1 597.1
17.2% 17.2%
29,946 29,946
39.4 39.4
636.4 636.4
18.3% 18.3%
97.9 97.9
29.6 29.6
-17.8 -17.8
526.8 526.8
15.2% 15.2% - - 526.8 526.8
120.5 120.5
406.3 406.3 - - 406.3 406.3
11.7% 11.7%
13.37 13.37
In Rs. crore In Rs. crore
Y-o-Y Change Y -o-Y Change (%) (%) 6.2% 6.2%
18.1% 18.1%
1.9 pps 1.9 pps
13.9% 13.9%
74.9% 74.9%
21.6% 21.6%
2.6 pps 2.6 pps
18.9% 18.9%
-33.6% -33.6%
-3.9% -3.9%
24.6% 24.6%
2.6 pps 2.6 pps
- -
21.4% 21.4%
23.1% 23.1%
20.9% 20.9% - - 14.8% 14.8%
0.9 pps 0.9 pps
14.4% 14.4%
Q4 FY26 Earnings Presentation Q4 FY26 Earnings Presentation
|
15 15
Abridged Standalone P&L statement Abridged Standalone P&L statement
Revenue from Operations Revenue from Operations
Operating EBITDA Operating EBITDA
Operating EBITDA Margin (%) Operating EBITDA Margin (%)
Operating EBITDA / ton" (Rs.) Operating EBITDA / ton^ (Rs.)
Other Income Other Income
EBITDA EBITDA
EBITDA Margin (%) EBITDA Margin (%)
Depreciation Depreciation
Finance Costs Finance Costs
PBT before exceptional item PBT before exceptional item
PBT Margin(%) PBT Margin (%)
Exceptional item Exceptional item
PBT after Exceptional item PBT after Exceptional item
Tax Tax
PAT from continuing business PAT from continuing business
Profit/loss from discontinuing business Profit/loss from discontinuing business
PAT PAT
PAT Margin(%) PAT Margin (%)
Basic EPS (in Rs.) Basic EPS (in Rs.)
USHA MARTIN
*EPS is not annualized *EPS is not annualized
Q4 FY26 Q4 FY26
Q4 FY25 Q4 FY25
639.6 639.6
165.8 165.8
25.9% 25.9%
35,648 35,648
25.1 25.1
190.9 190.9
29.9% 29.9%
15.3 15.3
0.4 0.4
175.2 175.2
27.4% 27.4%
-3.5 -3.5
171.7 171.7
36.1 36.1
135.6 135.6
-7.1 -7.1
128.5 128.5
20.1% 20.1% 4.22 * 4. 22 *
544.2 544.2
99.9 99.9
18.4% 18.4%
23,090 23,090
23.0 23.0
122.9 122.9
22.6% 22.6%
13.0 13.0
3.4 3.4
106.6 106.6
19.6% 19.6% - - 106.6 106.6
28.3 28.3
78.3 78.3
- -
78.3 78.3
14.4% 14.4% 2.57 * 2.57 *
Y-o-Y Change Y -o-Y Change (%) (%) 17.5% 17.5%
65.9% 65.9%
7.6 pps 7.6 pps
54.4% 54.4%
9.2% 9.2%
55.3% 55.3%
7.3 pps 7.3 pps
18.2% 18.2%
-88.3% -88.3%
64.4% 64.4%
7.8 pps 7.8 pps - - 61.1% 61.1%
27.7% 27.7%
73.2% 73.2%
- -
64.2% 64.2%
5.7 pps 5.7 pps
64.4% 64 .4 %
Q3 FY26 Q3 FY26
581.5 581.5
125.1 125.1
21.5% 21.5%
27,521 27,521
3.4 3.4
128.5 128.5
22.1% 22.1%
14.4 14.4
1.2 1.2
112.9 112.9
19.4% 19.4%
-13.1 -13.1
99.8 99.8
25.6 25.6
74.3 74.3
- -
74.3 74.3
12.8% 12.8% 2.44 * 2.44 *
Q-o-Q Change Q -o-Q Change (%) (%) 10.0% 10.0%
32.5% 32.5%
4.4 pps 4.4 pps
29.5% 29.5%
645.4% 645.4%
48.6% 48.6%
7.8 pps 7.8 pps
6.2% 6.2%
-66.1% -66.1%
55.2% 55.2%
8.0 pps 8.0 pps
73.0% 73.0%
72.0% 72.0%
41.4% 41.4%
82.5% 82.5% - - 72.9% 72.9%
7.3 pps 7.3 pps
73.1% 73 .1%
FY26 FY26
2,312.0 2,312.0
501.4 501.4
21.7% 21.7%
28,442 28,442
73.6 73.6
574.9 574.9
24.9% 24.9%
57.2 57.2
4.9 4.9
512.9 512.9
22.2% 22.2%
-16.6 -16.6
496.3 496.3
118.3 118.3
378.0 378.0
-24.9 -24.9
353.1 353.1
15.3% 15.3%
11.60 11.60
In Rs. crore In Rs. crore
Y-o-Y Change Y -o-Y Change (%) (%) 6.5% 6.5%
18.8% 18.8%
2.3 pps 2.3 pps
14.6% 14.6%
77.8% 77.8%
24.1% 24.1%
3.5 pps 3.5 pps
21.1% 21.1%
-57.3% -57.3%
26.7% 26.7%
3.5 pps 3.5 pps - - 22.6% 22.6%
15.4% 15.4%
25.1% 25.1% - - 16.8% 16.8%
1.4 pps 1.4 pps
16.9% 16.9 %
FY25 FY25
2,171.1 2,171.1
421.9 421.9
19.4% 19.4%
24,825 24,825
41.4 41.4
463.3 463.3
21.3% 21.3%
47.2 47.2
11.4 11.4
404.7 404.7
18.6% 18.6% - - 404.7 404.7
102.5 102.5
302.2 302.2
- -
302.2 302.2
13.9% 13.9%
9.92 9.92
Q4 FY26 Earnings Presentation Q4 FY26 Earnings Presentation
|
16 16
Key operational highlights - Consolidated Q4 & FY26 Key operational highlights
– Consolidated Q4 & FY26
Figure in ('000 MT) Figure in (‘000 MT)
SALES VOLUMES1 1 SALES VOLUMES
198 198
207 207
' I
I I
▪
▪
Overall sales volumes improved year-on-year, reflecting steady sales volumes Overall demand across key segments demand across key segments
year -on -year,
improved
reflecting
steady
Segment-wise contribution to overall volumes 04 FY26: Segment to overall volumes Q 4 FY 26 :
-wise contribution
52 52 1111 04 FY25 Q4 FY25
53 53 1111 03 FY26 Q3 FY26
53 53 1111 04 FY26 Q4 FY26
FY25 FY25
FY26 FY26
1111(f4)-
Shift (%)
QoQ: 0.6% QoQ: 0.6%
YoY: 2.8% YoY: 2.8%
4.4% 4.4%
▪
▪
▪
Wire Rope - 50% (FY25: 52%) Wire Rope - 50 % (FY 25 : 52 % ) Wire - 27% (FY25: 21%) Wire - 27 % (FY 25 : 21% ) LRPC - 23% (FY25: 27%) LRPC - 23 % (FY 25 : 27 % )
'-------------------------------------------------------------------------------~
I
WI RE ROPE SALES VOLUMES WIRE ROPE SALES VOLUMES
WIRE VOLUMES WIRE VOLUMES
LRPC SALES VOLUMES LRPC SALES VOLUMES
104 104
106 106
' I
FY25 FY25
FY26 FY26
53 53
41 41
'
I I
FY25 FY25
FY26 FY26
14 14
15 15
12 12 ■
04 FY25 03 FY26 04 FY26 Q4 FY25
Q4 FY26
Q3 FY26
54 54
48 48
'
I I
15 15
12 12
13 13 ■ ■
04 FY25 03 FY26 04 FY26 Q4 FY25
Q4 FY26
Q3 FY26
FY25 FY25
FY26 FY26
25 25
26 26
- - -
04 FY25 03 FY26 04 FY26 Q4 FY25
Q3 FY26
Q4 FY26
26 26
IIIIB QoQ: 0.9%
QoQ: 0.9%
Shift (%)
YoY:4.6% YoY: 4.6%
2.3% 2.3%
QoQ: 6.2% QoQ: 6.2%
YoY: 26.0% YoY: 26.0%
28.1% 28.1%
QoQ: 5.7% QoQ: 5.7%
YoY: 18.3% YoY : 18.3%
9.8% 9.8%
USHA MARTIN
Note 1: For all product segments Note 1: For all product segments Note 2: All figures mentioned in the slide are consolidated volumes Note 2: All figures mentioned in the slide are consolidated volumes
04 FY26 Earnings Presentation Q4 FY26 Earnings Presentation
|
17 17
Globally recognized certifications and licenses Globally recognized certifications and licenses
ISO 45001 : 2018 ISO 45001: 2018 Occupational Health & Occupational Health & Safety Safety
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ISO 14001: 2015 ISO 14001: 2015 Environmental management Environmental management systems systems
USHA MARTIN LIMITED WI R E & WIR E ROPES DIVIS IO N e usha martin·
Certificate of Authority issued Certificate of Authority issued by American Petroleum by American Petroleum Institute Institute
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Manufacturing Manufacturing Assessment issued by Assessment issued by ABS ABS
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CERTW'ICATEOIF Manufactunng Assessment
"'-•------------..
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=-==:::::.~~:-...::.~~--., ... ~---- ... - ....... ~---.. _ .. _ ---..-.- .. ,..._ ..... ,,_._ ....... ,.._. ...... Steel Wire Ropes r=-...=. - -----------·---·-· -·---·-----... - ·----·-·,_...,,. -~-~-... -···---.. ..--....._ ............. _ ___ ,.... .. _. _____ _
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NABL Testing NABL Testing
C ERTI.FICATE OF A CCREDITATION
USH.A MARTIN LIMITED (WIRE & WIRE ROPES DIVISION)
JSO/IEC 17025 :201 7
" General Requiremenls for the Competence of T esting & Calibralion Laboratories"
TESTI NG
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USHA MARTIN LIMITED
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ISO 9001 : 20 1 5
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Approved Manufacturer of Approved Manufacturer of Steel Wire Rope Steel Wire Rope issued by Lloyd's issued by Lloyd’s
I App rov•d Manuh1cturer of St HI Wire Rope __ ., ... _ ________ ... _ ...... _ , ___ ., -~---------------- -----...... --
__ 4_ , , _____________ . . , . , ___ .. __ ..,. __ " " t_ ... ______ ..,
USHA MARTIN
Q4 FY26 Earnings Presentation Q4 FY26 Earnings Presentation
|
18 18
Market snapshot Market snapshot
Key Market Statistics Key Market Statistics
BSE/NSE Ticker BSE/NSE Ticker
CMP {Rs.) CMP (Rs.)
Market Cap {Rs. In Crore) Market Cap (Rs. In Crore)
Number of outstanding shares {Crore) Number of outstanding shares (Crore)
Face Value Face Value
Ason As on 31 st March 2026 31st March 2026
517146 / USHAMART 517146 / USHAMART
390.70 390.70
11,906.26 11,906.26
30.47 30.47
1.00 1.00
,,~- ------ -------- --SHAREHOLDING PATTERN-AS ON ----- -------- ---,,,
SHAREHOLDING PATTERN AS ON
I
31st March 2026 31st March 2026
Public including Public including Employee Welfare Trust, Employee Welfare Trust, 20% 20%
Corporate Bodies, 11% Corporate Bodies , 11%
Promoters, 40% Promoters , 40%
52-week High/ Low (Rs.) 52 -week High / Low (Rs.)
497.50/ 281.20 497.50/ 281.20
Institutional Investor, 29% Institutional Investor
, 29%
I \
,, __________________________________________________________________________ ,
,
USHA MARTIN
Q4 FY26 Earnings Presentation Q4 FY26 Earnings Presentation
|
19 19
Concall details Concall details
Usha Martin Ltd. Q4 & FY26 Earnings Conference Call Usha Martin Ltd. Q4 & FY26 Earnings Conference Call
Time: 4:30 PM 1ST on Thursday, April 30, 2026 4:30 PM IST on Thursday, April 30, 2026 Time:
To enable participants to connect to the conference call without having to To enable participants to connect to the conference call without having to wait for an operator, please register at the below mentioned link: wait for an operator, please register at the below mentioned link:
Pre-registration Pre -registration
Description: Click here for Diamond Pass
DiamotldP "'' ... I I
Click here to Express}oin the Call
You will receive dial in numbers, passcode and a pin for the concall on the You will receive dial in numbers, passcode and a pin for the concall on the registered email address provided by you . Kindly dial into the call on the registered email address provided by you. Kindly dial into the call on the Conference Call date and use the passcode & pin to connect to call Conference Call date and use the passcode & pin to connect to call
Conference dial-in Primary Number: Conference dial
-in Primary Number:
+91 22 6280 1141 / +91 22 7115 8042 +91 22 6280 1141 / +91 22 7115 8042
International Toll Free Number: International
Toll Free Number:
Hong Kong: 800 964 448 Hong Kong: 800 964 448 Singapore: 800101 2045 Singapore: 800 101 2045 UK: 0 808 1011573 UK: 0 808 101 1573 USA: 1 866 746 2133 USA: 1 866 746 2133
USHA MARTIN
Q4 FY26 Earnings Presentation Q4 FY26 Earnings Presentation
|
20 20
Contact us Contact us
concrete
low relaxation
in the year 1960 , Usha Martin is a leading global and India’s No . 1 specialty is also engaged in the manufacturing (LRPC), steel
About Us: About Us : Established in the year 1960, Usha Martin is a leading global and India's No. 1 specialty Established steel wire rope solutions provider. The Company is also engaged in the manufacturing steel wire rope solutions provider . The Company of high-quality wires, low relaxation prestressed concrete steel strand (LRPC}, of high -quality wires, prestressed bespoke end-fitments, accessories and related services. and related services . bespoke end -fitments, accessories Usha Martin's wire rope manufacturing facilities in Ranchi, Hoshiarpur, Dubai, Dubai, Usha Martin’s wire rope manufacturing Bangkok and UK produce the widest range of wire ropes that find application in Bangkok in various industries across the world. All of the company's facilities are equipped with various industries facilities are equipped with the latest state-of-the-art high-capacity machines to manufacture world-class world -class latest the products. products . Usha Martin's global R&D center located in Italy is actively engaged in designing of Usha Martin’s global R&D center of wire ropes and uses proprietary design software to develop products that are the that are the wire ropes and uses proprietary best in class. The Company also has a comprehensive R&D facility in its manufacturing best in class . The Company unit at Ranchi, India. Usha Martin has an extensive and dedicated network of unit at Ranchi, distribution centers located across the globe. located across the globe . distribution
located in Italy is actively engaged design software to develop products
state -of -the -art high -capacity machines
India . Usha Martin has an extensive
the world . All of the company’s
R&D facility in its manufacturing
also has a comprehensive
in Ranchi, Hoshiarpur,
range of wire ropes
and UK produce
to manufacture
find application
and dedicated
in designing
the widest
network
facilities
centers
strand
across
that
of
Mr. Abhijit Paul (Chief Financial Officer}/ Mr. Abhijit Paul (Chief Financial Officer) / Mr. Anil Kumar (Secretary to CFO} Mr. Anil Kumar (Secretary to CFO) Usha Martin Limited Usha Martin Limited Tel: +033 - 71006 403 Tel: +033 – 71006 403 Email: investor@ushamartin.co.in Email:
investor@ushamartin.co.in
Anoop Poojari / Devrishi Singh Anoop Poojari / Devrishi Singh CDR India CDR India Tel: +91 98330 90434/ + 91 98205 30918 Tel: +91 98330 90434/ + 91 98205 30918 Email: anoop@cdr-india.com Email: anoop@cdr -india.com devrishi@cdr-india.com devrishi@cdr
-india.com
Corporate Identification No: L31400WB1986PLC091621 Corporate Regd. Office: 2A, Shakespeare Sarani, Kolkata - 700 071, India Regd . Office : 2A, Shakespeare
No : L 31400 WB 1986 PLC 091621
– 700 071 , India
Sarani, Kolkata
Identification
USHA MARTIN
Q4 FY26 Earnings Presentation Q4 FY26 Earnings Presentation
|
21 21
THANK YOU
USHA MARTIN LIMITED
2A, Shakespeare Sarani, - 700 071, India Kolkata
contact@ushamartin.com www.ushamartin.com
|
22