USHAMART: Usha Martin Limited has informed the Exchange about revised Transcript.
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Usha Martin has filed a revised Q1 FY26 earnings call transcript (held Aug 13, 2025) with factual corrections on pages 9 and 13. Q1 FY26 consolidated revenue rose 7.4% YoY to Rs. 887 crore, led by a 32.3% jump in the wire segment, while wire rope grew 7.9% and LRPC declined 3.4%. Operating EBITDA was Rs. 145 crore at a 16.3% margin (corrected upward from 13.3%), and net profit was Rs. 101 crore. The company turned net cash-positive at Rs. 14 crore (vs. Rs. 63 crore net debt in March '25), operating cash flow was 95% of EBITDA, and working capital improved to 196 days (corrected from 166). Management guided to an 18% EBITDA margin for full-year FY26 and 19–20% for the following year, supported by Rs. 800–1,000 million in cost optimization and new Ranchi capacity ramping up.
Positive signals: margin trajectory guided higher, net debt-free balance sheet, and US market resilience. The revised transcript (with margin corrected from 13.3% to 16.3% and working capital from 166 to 196 days) gives a more accurate picture of Q1 performance and reinforces confidence in margin expansion through FY26, though LRPC remains a drag.