Usha Martin Ltd Share Price Today

Actions	Ex-Date	Record-Date
DividendsFinal Dividend of 375% at ₹3.75/Share	13-Aug-2026	13-Aug-2026
DividendsFinal Dividend of 300% at ₹3/Share	31-Jul-2025	31-Jul-2025

Mutual Fund Holder	Jul 26 Shares held	Aug 26 Shares held
Tata Small Cap Fund - Regular Plan - Growth	1.16 Cr	1.16 Cr no change
Quant Small Cap Fund - Growth	1.07 Cr	1.07 Cr no change
ICICI Prudential Commodities Fund - Regular Plan - Growth	31.38 Lac	31.38 Lac no change
Mahindra Manulife Small Cap Fund - Regular Plan - Growth	22.47 Lac	22.47 Lac no change
Bandhan Large & Mid Cap Fund - Regular Plan - Growth	18.96 Lac	21.39 Lac (12.79%)

Neha

1 Sep • 4:23 PM · SEBI-Registered Analyst

🚨 **Usha Martin: High-Margin Wire Rope Story**

Usha Martin delivered a strong FY26, with the business continuing its transition toward **high-value, specialised wire ropes** and stronger balance-sheet discipline. 📊 **FY26 HIGHLIGHTS**

USHAMART

• Revenue: **₹3,691 Cr | +6.2% YoY** • Operating EBITDA: **₹705 Cr | +18.1% YoY** • EBITDA Margin: **19.1%** • ROCE: **20.6%** • Operating Cash Flow: **₹736 Cr** • Standalone business: **100% debt-free** • Consolidated Net Cash: **₹332 Cr** 🔥 **THE BIG SHIFT** Over the last 5 years, wire ropes increased from **61% → 73%** of revenue, while value-added products increased from **59% → 70%**. This is important because Usha Martin is increasingly focusing on technically demanding applications across: → Elevators → Cranes & infrastructure → Mining → Oil & gas → Offshore wind → Specialised industrial lifting 🌍 India’s infrastructure expansion, offshore energy projects and global supply-chain realignment could provide a long runway for specialised rope demand. 🏭 **CAPEX & EXECUTION** The company has expanded capacity by around **40,000 MT** over the last three years and successfully shifted high-end OceanMax rope production from the UK to Ranchi. Going forward, management plans to invest around **₹200–250 Cr annually** in technical segments. ⚠️ **BUT THERE’S A MAJOR RISK** The biggest concern is not the operating business — it is the **legal and governance overhang**. ED proceedings involve provisional attachment of Ranchi land parcels valued at around **₹190 Cr**, alongside a CBI investigation concerning historical matters. The auditors issued a clean opinion, but this legal issue remains a significant monitorable. Other points to watch: • Contingent liabilities of around **₹231 Cr consolidated** • Rising slow-moving inventory provisions !HFCL **Neha Gupta** *SEBI Registered Research Analyst* *For educational purposes only. Not investment advice. Investors should conduct their own research.*

Neha

1 Sep • 9:46 AM · SEBI-Registered Analyst

🚨Smartworks FY25: Workspace Story Is Scaling Fast

Smartworks Coworking Spaces is emerging as a major player in India’s rapidly growing managed office & flexible workspace market.

USHAMART

📊 FY25 HIGHLIGHTS • Revenue: ₹1,374 Cr | +32.2% YoY • Portfolio: 11.79 Mn sq. ft. • Presence: 15 cities | 55 centres • Enterprise clients contribute ~88% of demand • ~94% revenue comes from annuity rentals • Normalised OCF: ₹243.5 Cr vs EBITDA of ₹172.2 Cr 🔥 THE GROWTH STORY India’s flexible workspace market is expanding rapidly, with managed workspaces gaining share as corporates increasingly prefer flexible, Grade-A office solutions. Smartworks is targeting this opportunity through: → Whole-building managed campuses → 2–3 Mn sq. ft. annual expansion visibility → Procurement & operating efficiencies → “Fit-out-as-a-service” offerings → Selective management-contract/variable-rent models The company’s unit economics are also notable, with centres reaching breakeven around 65–70% occupancy and reported capex payback of roughly 30–32 months. ⚠️ BUT INVESTORS NEED TO WATCH THE RISKS 🔴 Consolidated net loss widened to ₹63.2 Cr in FY25. 🔴 Current liabilities exceeded current assets by around ₹961 Cr. 🔴 Significant related-party exposure exists, including ₹94.9 Cr of housekeeping & security charges paid to Talbotforce Services. 🔴 Management remuneration increased despite rising losses. Strong operating execution ✅ Large market opportunity ✅ Cash-flow conversion ✅ Rapid footprint expansion ✅ Losses ⚠️ Working-capital/balance-sheet pressure ⚠️ Related-party exposure ⚠️ Bottom Line: Smartworks has built a strong operating platform, but investors must balance its impressive growth with losses, balance-sheet structure and governance-related monitorables. Neha Gupta SEBI Registered Research Analyst For educational purposes only. Not investment advice. Investors should conduct their own research. #Smartworks #CommercialRealEstate #Coworking #GCC #IndianStocks #Investing

Neha

24 Aug • 5:04 PM · SEBI-Registered Analyst

Usha Martin: From Debt Reduction to a High-Margin Wire Rope

Usha Martin delivered a strong FY26, with the business continuing its transition toward high-value, specialised wire ropes and stronger balance-sheet discipline. 📊 FY26 HIGHLIGHTS • Revenue: ₹3,691 Cr | +6.2% YoY

USHAMART

• Operating EBITDA: ₹705 Cr | +18.1% YoY • EBITDA Margin: 19.1% • ROCE: 20.6% • Operating Cash Flow: ₹736 Cr • Standalone business: 100% debt-free • Consolidated Net Cash: ₹332 Cr 🔥 THE BIG SHIFT Over the last 5 years, wire ropes increased from 61% → 73% of revenue, while value-added products increased from 59% → 70%. This is important because Usha Martin is increasingly focusing on technically demanding applications across: → Elevators → Cranes & infrastructure → Mining → Oil & gas → Offshore wind → Specialised industrial lifting 🌍 India’s infrastructure expansion, offshore energy projects and global supply-chain realignment could provide a long runway for specialised rope demand. The company has expanded capacity by around 40,000 MT over the last three years and successfully shifted high-end OceanMax rope production from the UK to Ranchi. Going forward, management plans to invest around ₹200–250 Cr annually in technical segments. ⚠️ BUT THERE’S A MAJOR RISK The biggest concern is not the operating business — it is the legal and governance overhang. ED proceedings involve provisional attachment of Ranchi land parcels valued at around ₹190 Cr, alongside a CBI investigation concerning historical matters. The auditors issued a clean opinion, but this legal issue remains a significant monitorable. Other points to watch: • Contingent liabilities of around ₹231 Cr consolidated • Rising slow-moving inventory provisions • 12.5% of consolidated receivables classified as having a significant increase in credit risk • Certain CARO qualifications and audit-control observations . Neha Gupta SEBI Registered Research Analyst For educational purposes only. Not investment advice. Investors should conduct their own research.

Pavan Rawat

28 Jul • 1:03 PM · SEBI-Registered Analyst

UMESLTD

Usha Martin shares are likely to remain in focus on July 28 after the company reported a robust financial performance for the June quarter, driven by strong growth in profitability and improved operating margins. Net profit surged 40.7% year-on-year to ₹142 crore, while revenue rose 16.4% to ₹1,033 crore. Earnings Before Interest, Taxes, Depreciation, and Amortisation (EBITDA) increased 43.8% to ₹208 crore. EBITDA margin expanded significantly to 20.1%, compared with 16.3% in the corresponding quarter last year, reflecting improved operational efficiency. In the previous trading session, Usha Martin shares closed 1.34% higher at ₹501.90. The stock has rallied more than 50% from its 52-week low of ₹333.95, recorded on August 11, 2025, and is currently trading around 4.8% below its 52-week high of ₹527, touched on June 4, 2026. The company currently has a market capitalisation of ₹15,295 crore.

Nikita (SEBI RA)

22 May • 4:36 PM · SEBI-Registered Analyst

“Why Consistent Rules Improve Trading Discipline”

Discipline becomes easier when rules are clear and repeatable. Effective rules include: Fixed risk per trade Defined entry conditions Preplanned exits Learning: Clear rules reduce emotional decision-making.

USHAMART

Dhwani Patel

18 Mar • 8:22 AM · SEBI-Registered Analyst

USHAMART

falling wedge

A falling wedge pattern is seen in

USHAMART

. The resistance is at 420 while the support is at the 370 zone. Usually an upside breakout from a falling wedge pattern indicates a reversal in the primary bullish trend. Keep an eye on this.

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