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Day High
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NSE Close — 28 Sep 2026
₹508.0
Change
-10.8 (-2.08%)
Open
₹520.05
Prev. Close
₹518.8
Day High
₹520.05
Day Low
₹501.7
Volume Analysis
Traded
418,148
Delivered
172,614
Delivery %
41.28%
End-of-day NSE price via the official Bhavcopy — updated once daily after market close, not a live tick.
Strengths, Weaknesses, Opportunities & Threats
Strengths (1)
- •Strong operating margin (20.0%)
Weaknesses (1)
- •Promoter holding is falling
Opportunities (1)
- •FII holding has been rising
Threats (0)
No signal for this stock
Rule-based signals from the fundamentals below — not investment advice.
Pivot Levels
| Type | R3 | R2 | R1 | Pivot | S1 | S2 | S3 |
|---|---|---|---|---|---|---|---|
| Classic | ₹536.49 | ₹528.27 | ₹518.14 | ₹509.92 | ₹499.79 | ₹491.57 | ₹481.44 |
| Fibonacci | ₹528.27 | ₹521.26 | ₹516.93 | ₹509.92 | ₹502.91 | ₹498.58 | ₹491.57 |
| Camarilla | ₹513.05 | ₹511.36 | ₹509.68 | ₹509.92 | ₹506.32 | ₹504.64 | ₹502.95 |
Support/resistance levels for today, calculated from the previous trading day's high/low/close.
Absolute Returns
YTD
+14.44%
1 Week
-4.39%
1 Month
+3.16%
3 Months
+3.08%
6 Months
+25.26%
1 Year
+6.62%
2Y/3Y/5Y not shown yet — price history tracking only goes back to mid-2025 so far.
Stock Vitals
Computed from the latest available annual financials.
Graham Number
₹192.76
Current price is above the Graham Number — Benjamin Graham's estimate of fair value based on earnings and book value.
DuPont ROE Breakdown
14.8%
Net margin 13.24% × asset turnover 0.88x × equity multiplier 1.27x
Company Overview
Sector
Capital Goods
Market Cap
₹15,810 Cr
P/E (TTM)
29.0
ROE
15.1%
Book Value
₹108.0
Face Value
₹1.0
Source: Screener.in (Consolidated figures) — data as of 27 Sep 2026. Not investment advice.
TopFund Analysis
Usha Martin Ltd. holds up reasonably well on TopFund's composite fundamentals check within the Capital Goods sector, at 72/100. The strongest factor is Financial Strength (100/100), while Valuation (43/100) is the weakest area to weigh before deciding. Notably: Strong operating margin (20.0%); promoter holding is falling. FII holding has been rising.
TopFund Score — Fundamentals Quality
72/100 — GoodData confidence: 79/100 (Moderate Confidence) — based on how complete and how fresh the underlying data is.
As of 28 Sep 2026 · How we calculate this →
Financial Strength
Growth
Valuation
Cash Flow
Corporate Governance
Momentum
Institutional Ownership
Business Quality
Risk & Volatility
Liquidity
From Screener.in
- +Company has reduced debt.
- +Company is almost debt free.
- +Company has been maintaining a healthy dividend payout of 22.3%
- −The company has delivered a poor sales growth of 12.0% over past five years.
- −Promoter holding has decreased over last 3 years: -7.59%
Not investment advice — an automated read of public fundamentals data, for research context only.
Corporate Actions
Usha Martin executed BTA on 25 Sep 2026 to sell U M Cables business to R R Kabel via slump sale.
Usha Martin’s voluntary ESG rating improved to 67.9 from 66.8 for FY2025-26.
Peterhouse Investments sold 200,000 Usha Martin shares on 22 Sep 2026, reducing holding to 2,050,000 shares.
Source: BSE regulatory filings, via Screener.in.
Quarterly Results
Last several quarters
| Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales + | 814 | 785 | 797 | 829 | 826 | 891 | 861 | 896 | 887 | 908 | 917 | 979 | 1,033 |
| Expenses + | 669 | 640 | 640 | 678 | 672 | 730 | 718 | 757 | 743 | 735 | 741 | 768 | 825 |
| Operating Profit | 146 | 144 | 157 | 152 | 154 | 161 | 143 | 140 | 145 | 173 | 176 | 212 | 208 |
| OPM % | 18.0% | 18.0% | 20.0% | 18.0% | 19.0% | 18.0% | 17.0% | 16.0% | 16.0% | 19.0% | 19.0% | 22.0% | 20.0% |
| Other Income + | 7 | 25 | 8 | 14 | 9 | 11 | 9 | 28 | 20 | 10 | -5 | 21 | 14 |
| Interest | 6 | 6 | 6 | 7 | 7 | 8 | 9 | 7 | 6 | 5 | 5 | 4 | 4 |
| Depreciation | 18 | 18 | 19 | 23 | 22 | 23 | 26 | 28 | 29 | 28 | 29 | 31 | 34 |
| Profit before tax | 129 | 144 | 140 | 136 | 135 | 141 | 118 | 133 | 130 | 150 | 138 | 197 | 184 |
| Tax % | 22.0% | 24.0% | 23.0% | 22.0% | 23.0% | 23.0% | 22.0% | 24.0% | 22.0% | 27.0% | 22.0% | 25.0% | 23.0% |
| Net Profit + | 101 | 110 | 108 | 106 | 104 | 109 | 92 | 101 | 101 | 110 | 108 | 148 | 142 |
| EPS in Rs | 3 | 4 | 4 | 3 | 3 | 4 | 3 | 3 | 3 | 4 | 4 | 5 | 5 |
| Raw PDF | — | — | — | — | — | — | — | — | — | — | — | — | — |
Source: Screener.in — figures in ₹ Crores unless marked %.
Profit & Loss (Yearly)
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales + | 4,561 | 4,112 | 3,882 | 2,066 | 2,488 | 2,154 | 2,097 | 2,688 | 3,268 | 3,225 | 3,474 | 3,691 | 3,837 |
| Expenses + | 3,845 | 3,771 | 3,493 | 2,253 | 2,512 | 1,922 | 1,814 | 2,304 | 2,754 | 2,627 | 2,877 | 2,986 | 3,068 |
| Operating Profit | 717 | 341 | 389 | -188 | -24 | 232 | 284 | 384 | 513 | 599 | 597 | 705 | 768 |
| OPM % | 16.0% | 8.0% | 10.0% | -9.0% | -1.0% | 11.0% | 14.0% | 14.0% | 16.0% | 19.0% | 17.0% | 19.0% | 20.0% |
| Other Income + | -63 | 32 | 120 | 77 | 17 | 537 | 24 | 75 | 40 | 53 | 57 | 46 | 39 |
| Interest | 522 | 547 | 564 | 92 | 114 | 74 | 57 | 42 | 30 | 25 | 30 | 20 | 17 |
| Depreciation | 418 | 308 | 300 | 60 | 61 | 64 | 68 | 70 | 67 | 77 | 98 | 116 | 121 |
| Profit before tax | -287 | -481 | -355 | -264 | -181 | 630 | 183 | 346 | 455 | 550 | 527 | 615 | 669 |
| Tax % | -12.0% | -11.0% | 1.0% | 2.0% | -126.0% | 33.0% | 20.0% | 16.0% | 23.0% | 23.0% | 23.0% | 24.0% | — |
| Net Profit + | -251 | -428 | -358 | -268 | 49 | 421 | 152 | 291 | 351 | 424 | 406 | 466 | 508 |
| EPS in Rs | -8 | -14 | -12 | -9 | 2 | 14 | 5 | 10 | 11 | 14 | 13 | 15 | 17 |
| Dividend Payout % | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 21.0% | 22.0% | 20.0% | 22.0% | 25.0% | — |
Source: Screener.in — figures in ₹ Crores unless marked %.
Balance Sheet
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Reserves | 1,728 | 1,323 | 914 | 697 | 751 | 1,197 | 1,373 | 1,663 | 2,000 | 2,349 | 2,721 | 3,271 |
| Borrowings + | 3,993 | 4,472 | 4,364 | 4,073 | 3,565 | 620 | 530 | 411 | 417 | 364 | 417 | 229 |
| Other Liabilities + | 2,556 | 2,111 | 2,423 | 2,646 | 2,645 | 696 | 649 | 625 | 627 | 570 | 563 | 672 |
| Total Liabilities | 8,307 | 7,936 | 7,731 | 7,445 | 6,992 | 2,544 | 2,582 | 2,730 | 3,075 | 3,313 | 3,731 | 4,202 |
| Fixed Assets + | 5,477 | 5,302 | 5,031 | 4,862 | 935 | 956 | 932 | 913 | 952 | 1,153 | 1,406 | 1,625 |
| CWIP | 132 | 147 | 121 | 113 | 13 | 33 | 45 | 38 | 139 | 166 | 118 | 89 |
| Investments | 0 | 46 | 37 | 39 | 42 | 44 | 48 | 56 | 66 | 56 | 68 | 79 |
| Other Assets + | 2,698 | 2,441 | 2,542 | 2,432 | 6,001 | 1,511 | 1,557 | 1,722 | 1,917 | 1,938 | 2,140 | 2,410 |
| Total Assets | 8,307 | 7,936 | 7,731 | 7,445 | 6,992 | 2,544 | 2,582 | 2,730 | 3,075 | 3,313 | 3,731 | 4,202 |
| Equity Capital | 31 | 31 | 31 | 31 | 31 | 31 | 31 | 31 | 31 | 31 | 31 | 31 |
Source: Screener.in — figures in ₹ Crores unless marked %.
Cash Flow
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash from Operating Activity + | 729 | 856 | 686 | 914 | 974 | 212 | 214 | 159 | 252 | 444 | 422 | 655 |
| Cash from Investing Activity + | -563 | -385 | -29 | -35 | -3 | 2,942 | -34 | 57 | -155 | -285 | -219 | -353 |
| Cash from Financing Activity + | -266 | -491 | -663 | -872 | -973 | -3,105 | -177 | -161 | -101 | -159 | -91 | -321 |
| Net Cash Flow | -100 | -20 | -5 | 7 | -2 | 50 | 2 | 55 | -4 | 0 | 111 | -19 |
| CFO/OP | 105 | 253 | 177 | -491 | -4,116 | 103 | 77 | 38 | 67 | 94 | 91 | 104 |
| Free Cash Flow | 132 | 471 | 640 | 873 | 981 | 207 | 178 | 165 | 90 | 168 | 191 | 489 |
Source: Screener.in — figures in ₹ Crores unless marked %.
Shareholding Pattern
Quarter-by-quarter — Promoters, FII, DII & public holding trend
| Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Others | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.06% | 0.06% | 0.06% | 0.11% | 0.11% | 0.11% |
| Public | 36.6% | 36.2% | 35.57% | 35.81% | 34.4% | 34.08% | 32.53% | 32.15% | 31.74% | 30.63% | 29.8% | 29.24% |
| Promoters | 47.51% | 47.41% | 46.04% | 45.11% | 43.54% | 43.48% | 43.9% | 42.45% | 41.75% | 40.52% | 40.52% | 40.28% |
| FII | 12.03% | 12.94% | 14.78% | 14.19% | 14.61% | 14.29% | 14.25% | 14.29% | 14.14% | 14.62% | 14.77% | 15.1% |
| DII | 3.86% | 3.45% | 3.6% | 4.88% | 7.44% | 8.14% | 9.25% | 11.06% | 12.29% | 14.11% | 14.81% | 15.26% |
Source: Screener.in — quarterly shareholding disclosures.
Peers Comparison
Capital Goods — ranked by market cap
| Company | Market Cap (Cr) | P/E | P/B | ROE |
|---|---|---|---|---|
| Usha Martin Ltd. (this stock) | 15,810 | 29.0 | 4.81 | 15.1% |
| Graphite India Ltd | 15,844 | 72.3 | 2.7 | 3.11% |
| Avalon Technologies Ltd | 15,742 | 118.0 | 21.8 | 16.5% |
| Tega Industries Limited | 15,714 | 87.2 | 4.61 | 5.94% |
| Astra Microwave Ltd | 15,431 | 81.6 | 11.78 | 16.0% |
| Godawari Pow & Isp Ltd | 15,401 | 18.8 | 2.66 | 15.3% |
| Aequs Limited | 16,283 | — | 10.95 | -9.96% |
Which Mutual Funds Hold Usha Martin Ltd.?
Frequently Asked Questions about Usha Martin Ltd.
Usha Martin Ltd. (USHAMART) closed at ₹508.0 on NSE on 28 September 2026, down 10.8 (2.08%) from the previous close.
Usha Martin Ltd. trades on the NSE (National Stock Exchange of India) under the symbol USHAMART.
Usha Martin Ltd. has a trailing twelve-month P/E (price-to-earnings) ratio of 29.0.
Usha Martin Ltd. has a dividend yield of 0.72%.
Usha Martin Ltd.'s 52-week high is ₹543.0 and its 52-week low is ₹379.0.
Usha Martin Ltd. has a market capitalisation of ₹15,810 crore.
Usha Martin Ltd. has a TopFund Quality Score of 72/100 (Good), a composite of profitability, balance-sheet health, growth and valuation. This is an analytical score based on public data, not personalized investment advice — see the full breakdown below before deciding.
Community Sentiment
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