Usha Martin Limited has informed the Exchange regarding Outcome of Board Meeting held on May 12, 2025.
USHAMART · price
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Awaiting price reaction for this filing.
Usha Martin's Board (meeting May 12, 2025) approved audited consolidated and standalone results for Q4 and FY25. Consolidated revenue from operations rose ~7.7% YoY to Rs. 3,47,416 lakhs (vs Rs. 3,22,520 lakhs), while net profit declined ~7.5% to Rs. 41,063 lakhs (vs Rs. 44,412 lakhs). Q4 FY25 revenue grew ~8% YoY to Rs. 89,608 lakhs but Q4 PAT dipped to Rs. 10,062 lakhs. The Board recommended a final dividend of Rs. 3 per share (300%) subject to AGM approval. Statutory auditor S.R. Batliboi & Co. LLP issued an unmodified opinion, but flagged an 'Emphasis of Matter' regarding ongoing PMLA/CBI proceedings tied to Rs. 19,037 lakhs of past iron ore fines transactions, involving the Company, its MD, and certain officers. New appointments include Mr. Chirantan Chatterjee as Whole-Time Director (5 years), MKB & Associates as Secretarial Auditor, Mani & Co. as Cost Auditor, and Deloitte Haskins & Sells LLP as Internal Auditor for FY26.
Mixed signals for shareholders: revenue growth is healthy but bottom-line compression indicates margin pressure. A 300% dividend signals strong cash returns, but the Emphasis of Matter around serious legal proceedings (PMLA, CBI chargesheets against the Company and MD) is a key overhang that investors should monitor, even though the auditor's opinion remains clean.