Usha Martin Ltd (NSE:USHAMART)

Q2 2026 Usha Martin Ltd Earnings Call Transcript

Nov 9, 2025 / 05:00 AM GMT

Release Date Price: ₹481.3 (+1.87%)

Transcript

Key Points

Positve

Usha Martin Ltd (BOM:517146) reported a steady financial performance with consolidated revenues of INR 908 crores, reflecting a year-on-year growth.
The wire segment showed a robust 14.2% year-on-year revenue increase, indicating sustained demand.
The company achieved a significant reduction in debt, repaying INR 157 crores, fully funded through internal accruals, resulting in a net cash position of INR 111 crores.
Operating cash flows before tax stood at INR 390 crores, translating to a strong 123% conversion of operating EBITDA to cash flow.
The 'One Usha Martin' transformation initiative has started showing early positive impacts, aligning global teams and operations under a unified vision.

Negative

The LRPC division reported a 26% year-on-year decline in volumes, impacting overall performance.
Volume growth was below expectations, particularly in the rope and LRPC segments, due to operational and market factors.
Delays in commissioning new machines for high-performance ropes affected production volumes.
The domestic market experienced subdued growth due to delayed monsoon and softer demand environment.
Demand in key international markets like Saudi Arabia is improving slower than expected, affecting volume growth.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

USBL.NS - Usha Martin Ltd
Q2 2026 Usha Martin Ltd Earnings Call
Nov 10, 2025 / 05:00AM GMT

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Presentation
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Unidentified_1 [1]
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Good morning ladies and gentlemen, and welcome to the earnings conference call of Usha Martin Limited. As a reminder, all participant clients will be in the listen-only mode. There will be an opportunity for you to ask questions after the presentation concludes.

Should you need assistance during the conference call, please signal an operator by pressing, then 0 on your touchstone phone. Please note that this conference is being recorded. I now hand the conference over to Mr. Devrishi Singh from CDR India.

Thank you and over to you, sir.

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Unidentified_2 [2]
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