USHAMART: Usha Martin Limited has informed the Exchange regarding a press release dated August 12, 2025, titled "USHA MARTIN LTD ANNOUNCES Q1 FY26 RESULTS".
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Usha Martin announced its Q1 FY26 results with revenue growing 7.4% year-on-year to Rs. 887.2 crore, supported by a 10.4% rise in volumes. The Wire segment surged 32.3% YoY and Wire Rope grew 7.9% YoY. However, profitability was under pressure: Operating EBITDA fell 6.1% YoY to Rs. 144.6 crore with margins compressing from 18.6% to 16.3%, while Profit After Tax slipped 2.9% to Rs. 100.8 crore. Basic EPS for the quarter stood at Rs. 3.31. On the balance sheet, the company became net debt-free at the consolidated level, funded Rs. 53 crore of capex from internal accruals, improved working capital days from 209 to 196, and reported a strong cash flow to EBITDA ratio of 95%. The Ranchi capacity expansion is progressing on schedule, and the 'One Usha Martin' transformation programme is nearing completion of its foundational phase.
Mixed quarter for shareholders – top-line growth and volume momentum are positive, but margin compression and a slight decline in profits may cap near-term stock excitement. The net debt-free status, improving working capital, and strong cash flows signal a healthier balance sheet and set the stage for stronger performance in the second half of FY26.