USHAMART: Usha Martin Limited has informed the Exchange about Transcript.
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Usha Martin reported FY25 consolidated revenue of INR 3,474 crore, up 7.7% YoY, driven by 9.5% volume growth. The Wire Rope division grew 9.3% and the Wire segment jumped 19.7%, with value-added products making up 71% of Wire Rope revenue. Q4 FY25 EBITDA margin was 15.6% (16% excluding a one-time INR 4 crore redundancy cost at its UK unit). The company reduced consolidated net debt sharply to INR 63 crore from INR 124 crore, with Indian operations turning net cash positive, and generated INR 541 crore in operating cash flow. Management guided for a minimum 18% EBITDA margin in FY26 (versus 16% currently), 12-15% volume growth, and capacity expansion to 1,50,000 tons in Wire Ropes. New initiatives include the 'One Usha Martin' restructuring, 'Gal Star' product ramp-up, plasticated LRPC scaling, and entry into ocean fiber/synthetic slings.
Strong deleveraging, volume growth visibility, and a clear margin expansion roadmap from 16% to 18%+ are positive for shareholders. However, near-term margin pressure from European restructuring and US tariff uncertainties remain watchpoints. Overall, the transcript reinforces a constructive earnings trajectory.