Close 2026-08-21 1267 scanned A

USHAMART

Usha Martin Limited
Capital GoodsMid capRs 14,684 crRs 20.9 cr traded a day
Close on 2026-08-21
481.30
−2.90%
52-week range73% of the way up
376.00520.25
Market cap
14,684 cr
P/E (TTM)
30.0×
industry 52×
EPS (TTM)
16.06
Revenue YoY
+25.0%
Q1 FY27
Profit YoY
+36.8%
Net margin
13.8%
+1.2pt vs a year ago
Growth trend
+6.9pt
vs last quarter’s YoY
1 month
-3.0%
Below 52w high
8.1%
RSI (14)
37
Daily swing
2.8%
average true range
Volume
0.9×
vs 20-day average
Traded
Rs 21 cr
median day
Close200-day averageMaterial filing
400450500Aug 25Oct 25Dec 25Feb 26Apr 26Jun 26Aug 26
260 sessions · hover for the filing behind a move
1 week
−1.36%
1 month
−3.04%
3 months
+0.10%
6 months
+13.07%
1 year
+25.75%

The read

written from the numbers on this page
The evidence leans constructive6 supporting, 0 against, 1 worth knowing

Supporting

  • trading 6% above its 200-day average
  • up 26% over twelve months
  • 3 independent kinds of evidence agree today, which is uncommon
  • revenue grew 25% year on year in the quarter ending 2026-06-30
  • net margin has widened from 10.7% to 13.8% across four quarters
  • priced at 30× earnings against an industry median of 52× — 42% below its peers

Against

  • nothing the data supports either way

Worth knowing

  • the 50-day and 200-day averages disagree, which usually means a turn in progress rather than a trend to lean on
What would change this read: a close below 453, its 200-day average.
Assembled automatically from the figures on this page — the scans matched, their measured record, the filed financials, the derivatives positioning and the peer comparison. It is not a recommendation, no one has spoken to the company, and every claim above can be checked against a number further down this page.

What is working, what is not

read from the filings, with the figure behind every line
Working3

Holds more cash than borrowings, Rs 242 cr against Rs 146 cr.

Rs 242 crRs 146 cr

Operating cash flow was Rs 655 cr against Rs 490 cr of profit over four quarters, 134% of it.

Rs 655 crRs 490 cr134%

Net profit +29.9% year on year, Rs 109 cr to Rs 142 cr.

+29.9%Rs 109 crRs 142 cr
Needs watching1

Wire& Wire Rope is 99% of revenue, so the business rests on one segment.

Wire& Wire Rope99%
Every figure here is computed from the company’s own filings. The wording is generated directly from the figures.

How it has performed

price return over each window, measured against zero
-1.4%1W-3.0%1M+0.1%3M+13.1%6M+25.7%1Y

What the scans say today

10 of 47 matched on 2026-08-21
USHAMART matches 10 of the 47 scans today, across 3 different kinds of evidence. Three or more independent families agreeing is uncommon — it is the same test the shortlist on every page uses.

What this company does

segments and revenue mix, as the company reports them
USHAMART reports 2 business segments. The largest is Wire& Wire Rope at 99% of revenue in the quarter ending 2026-06-30. On these numbers this is effectively a single-segment business, so the group result and that segment’s result move together.
SegmentRevenueSharevs a year ago
Wire& Wire Rope1,021 cr98.8%
others12 cr1.2%
Segment names are the company’s own, taken verbatim from the reportable-segment disclosure in its quarterly XBRL filing. Nothing on this page describes the business in words we wrote.

Quality of the business

balance sheet as at 2026-03-31
Return on equity
14.8%
trailing profit over shareholders’ funds
Return on capital
18.1%
pre-tax profit over equity plus borrowings
Debt to equity
0.04×
146 cr borrowed against 3,302 cr of equity
Net debt
96 cr
cash exceeds borrowings
Cash conversion
134%
operating cash flow as a share of profit
Receivable days
62
how long customers take to pay
Return on capital uses profit before tax over equity plus borrowings. The textbook version adds finance costs back; those are not tagged reliably in quarterly filings, so this understates the ratio for a heavily borrowed company rather than flattering it. Balance sheets are filed half-yearly, so these can be up to six months behind the profit figures above.

Valuation against its own history

500 sessions since 2024-09-06
23×
median 30×
34×
now 30×
USHAMART trades at 30× trailing earnings, close to its median of 30× over this window. The band runs from the 5th to the 95th percentile, so single-day spikes do not set the edges.
This window is short by the standards of valuation history — it begins where four quarters of filed earnings first exist. A stock can look cheap against two years and expensive against ten.

Recent filings

from the exchange, newest first
Credit rating filings were typically +0.58pt vs the market over the next 5 sessions (n=266) · AGM / EGM filings were typically +0.00pt vs the market over the next 5 sessions (n=4,362) · Analyst call filings were typically +0.14pt vs the market over the next 5 sessions (n=3,352)

The business

from the company’s filed results
Everything below is taken from the company’s own quarterly filing with the exchange — the XBRL document it submitted, not a vendor’s summary of it. Figures in rupees crore.
7978298268918619179791.0k13.5%10.7%15.1%13.8%Q3 FY24Q4 FY24Q1 FY25Q2 FY25Q3 FY25Q3 FY26Q4 FY26Q1 FY27
RevenueNet profit, drawn inside its revenue barNet margin, own scale belowrupees crore, per quarter as filed. Revenue bars start at zero.

Going for it

  • revenue grew 25% against the same quarter a year earlier
  • profit rose 37% year on year
  • revenue rose in 3 of the last 4 quarters

Going against it

  • net margin narrowed from 15.1% to 13.8%
Quarter-by-quarter numbers, as filed
QuarterRevenueProfit before taxNet profitEPSNet margin
Q1 FY27
2026-06-30 · consolidated
1,0331791424.6613.8%
Q4 FY26
2026-03-31 · consolidated
9792001485.0915.1%
Q3 FY26
2025-12-31 · consolidated
9171331083.5311.7%
Q3 FY25
2024-12-31 · consolidated
861112923.0410.7%
Q2 FY25
2024-09-30 · consolidated
8911371093.5912.3%
Q1 FY25
2024-06-30 · consolidated
8261311043.4212.6%
Quarterly filings are unaudited unless stated. Consolidated figures are used where the company files both. A single quarter is a noisy thing — the trend across the column is worth more than the top row.

Where the price stands

the same figures every scan on this site is computed from
Trend
Distance from the averages traders watch. Above all of them is a bull phase; below the 200-day is the line most investors use to say otherwise.
Versus 50-day average-3.4%
Versus 200-day average+6.2%
Below 52-week high-7.5%
Above 52-week low+28.0%
Momentum
How hard it has been pushed lately. Above 70 on RSI is stretched, below 30 is washed out — neither is a signal on its own.
RSI (14)36.9
Higher closes in last 53 of 5
Six-month return+13.07%
Risk and liquidity
What a position costs to hold and to exit. Position sizing starts with the daily swing, not with conviction.
Typical daily swing (ATR)2.75%
Volume versus 20-day0.9x
Median daily turnoverRs 20.9 cr

Peers

Capital Goods · 107 classified companies
USHAMART trades at 30.0× trailing earnings against an industry median of 52.1× across 102 other classified companies in its industry — cheaper than them, by 42%. A multiple is a statement about expectations, not about quality: cheap usually means the market expects less, and it is often right.
CompanyMarket cap (Rs cr)P/E1 month1 yearTurnover (Rs cr)
HAL334,39035.9+8.87%+12.32%347.4
BEL302,62649.2+2.13%+9.93%436.2
ABB157,31552.7−1.38%+44.21%154.7
POWERINDIA152,487132.6+6.63%+81.72%356.0
BHEL143,80959.1+0.83%+92.03%279.6
CUMMINSIND141,58059.8−8.78%+33.48%197.5
SIEMENS139,55235.2+6.34%+22.87%102.3
CGPOWER136,552110.1−1.90%+17.22%192.6
POLYCAB135,05946.5+0.35%+24.90%234.3
ENRIN122,30782.2+3.27%−2.55%133.9
GVT&D105,67781.0−4.65%+49.92%461.2
USHAMART14,68430.0−3.04%+25.75%20.9
largest twelve by market capitalisation. Market cap and P/E need filed financials, so blanks are companies whose filings have not been read yet