Usha Martin Ltd Share Price – NSE  / BSE

Steel, Small Cap

Revenue from operations added 7.84% to Rs 891.17 crore in Q2 FY25 as against Rs 826.37 crore posted in Q1 FY25.

On year on year basis, the company in Q2 FY25 recorded marginally decline in net profit as compared to Rs 109.3 crore in Q2 FY24. Revenue rose 13.6% YoY in Q2 FY25 from Rs 784.7 crore posted in Q2 FY24.

Profit before tax was at Rs 141.4 crore in the second quarter of FY25, down 2.1% as against Rs 144.5 crore posted in Q2 FY24.

EBITDA grew by 11.4% to Rs 160.8 crore in Q2 FY25 from Rs 144.3 crore in Q2 FY24. EBITDA margin for Q2 FY25 was 18% as against 18.4% in Q2 FY24.

The company posted strong growth in the core wire rope segment (up by 19.2% YoY) and the wire & strand segment (up by 16.2% YoY) contributed positively to the revenue while revenue from LRPC segment declined (down by 6.7% YoY).

On half year basis, the company’s net profit rose 1.14% to Rs 213.2 crore on 7.4% jumped in revenue from operations to Rs 1,717.5 crore in H1 FY25 over H1 FY24.

Rajeev Jhawar, MD said, “I am pleased to share that we have delivered a resilient financial performance and strong operational execution in Q2 FY25. Usha Martin registered a 11.0% YoY growth in volumes and a 13.6% growth in topline, driven by a sharp recovery in domestic markets. Our focus on volume and value growth continues, and we remain confident in sustaining this momentum through the rest of the year, supported by a seasonally stronger second half. Additionally, we aim to maintain healthy EBITDA margins and bottom-line performance as we register growth in volumes and revenue.

During the period, our core wire ropes division performed strongly, despite a traditionally softer quarter due to monsoon. The division recorded an impressive 18.5% growth in volumes and a 19.2% increase in revenue. With the expanded capacities, our teams across domestic and international markets are well-positioned to drive sales of high-quality wire ropes for critical applications. This should enable us to capture greater market share globally while consistently meeting clients' rigorous standards and remaining focused on delivering dependable solutions across essential sectors.

As we move forward, our future capex initiatives are set to position us strongly to meet the needs of an evolving market and sustain our growth. The Company remains committed to advancing its strategic priorities, including enhancing value-added offerings, diversifying the product portfolio, modernizing plant operations and expanding global distribution and marketing efforts. With a robust portfolio and the inherent strengths of Usha Martin, we are confident in our ability to drive long-term growth and capitalize on emerging opportunities in the coming years.”

Usha Martin is a specialty steel wire rope solutions provider. The company is also engaged in the manufacturing of high-quality wires, low relaxation prestressed concrete steel strand (LRPC), bespoke end-fitments, accessories and related services.

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Net profit of Usha Martin rose 0.23% to Rs 109.72 crore in the quarter ended September 2024 as against Rs 109.47 crore during the previous quarter ended September 2023. Sales rose 13.57% to Rs 891.17 crore in the quarter ended September 2024 as against Rs 784.70 crore during the previous quarter ended September 2023.

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Usha Martin will hold a meeting of the Board of Directors of the Company on 6 November 2024

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Bandhan Bank Ltd, Rajesh Exports Ltd, Just Dial Ltd, Anand Rathi Wealth Ltd are among the other stocks to see a surge in volumes on NSE today, 11 October 2024.

Usha Martin Ltd saw volume of 357.03 lakh shares by 14:14 IST on NSE, a 49.14 fold spurt over two-week average daily volume of 7.27 lakh shares. The stock increased 11.64% to Rs.409.90. Volumes stood at 17.64 lakh shares in the last session.

Bandhan Bank Ltd recorded volume of 1021.39 lakh shares by 14:14 IST on NSE, a 9.47 times surge over two-week average daily volume of 107.84 lakh shares. The stock gained 9.78% to Rs.206.05. Volumes stood at 53.78 lakh shares in the last session.

Rajesh Exports Ltd clocked volume of 26.52 lakh shares by 14:14 IST on NSE, a 8.84 times surge over two-week average daily volume of 3.00 lakh shares. The stock gained 4.24% to Rs.288.60. Volumes stood at 1.64 lakh shares in the last session.

Just Dial Ltd saw volume of 31.52 lakh shares by 14:14 IST on NSE, a 6.49 fold spurt over two-week average daily volume of 4.86 lakh shares. The stock increased 3.87% to Rs.1,319.30. Volumes stood at 3.58 lakh shares in the last session.

Anand Rathi Wealth Ltd witnessed volume of 3.49 lakh shares by 14:14 IST on NSE, a 5.49 times surge over two-week average daily volume of 63595 shares. The stock dropped 0.01% to Rs.4,054.00. Volumes stood at 75908 shares in the last session.

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