Usha MartinNSE:USHAMART +1.57%79 Gross Margin % is 51.45% as of Mar. 2026, which is 23% above its 10-year median of 41.71. GuruFocus rates NSE:USHAMART with a GF Score™ of 79/100 and a GF Value™ of ₹418.01 (Modestly Overvalued). The stock has 2 warning signs investors should review. Among 594 Steel companies, Usha Martin ranks better than 95.12% on this metric.
Gross Margin % is calculated as gross profit divided by its revenue. Usha Martin's Gross Profit for the
three
months ended in Mar. 2026 was ₹5,039 Mil. Usha Martin's Revenue for the
three
months ended in Mar. 2026 was ₹9,793 Mil. Therefore, Usha Martin's Gross Margin % for the quarter that ended in Mar. 2026 was 51.45%.
The historical rank and industry rank for Usha Martin's Gross Margin % or its related term are showing as below:
NSE:USHAMART'
s Gross Margin % Range Over the Past 10 Years
Min: 35.65 Med: 41.71 Max: 49.63
Current: 49.58
During the past 13 years, the highestGross Margin % of Usha Martin was 49.63%. The lowest was 35.65%. And the median was 41.71%.
NSE:USHAMART's Gross Margin % is ranked better than 95.12% of 594
companies
in the Steel industry
Industry Median: 12.61
vs NSE:USHAMART: 49.58
Usha Martin had a gross margin of 51.45% for the quarter that ended in Mar. 2026 => Durable competitive advantage
The 5-Year average Growth Rate of Gross Margin for Usha Martin was 4.50% per year.
Usha Martin (NSE:USHAMART) Gross Margin % Explanation
Warren Buffett believes that firms with excellent long term economics tend to have consistently higher margins.
Durable competitive advantage creates a high Gross Margin % because of the freedom to price in excess of cost. Companies can be categorized by their Gross Margin %
1. Greater than 40% = Durable competitive advantage
2. Less than 40% = Competition eroding margins
3. Less than 20% = no sustainable competitive advantage
Consistency of Gross Margin is key
Usha Martin had a gross margin of 51.45% for the quarter that ended in Mar. 2026 => Durable competitive advantage
Be Aware
If a company loses its competitive advantages, usually its gross margin declines well before its sales declines. Watching Gross Margin % and Operating Margin % closely helps avoid value trap situations.
Usha Martin Gross Margin % Related Terms
Usha Martin Gross Margin % Historical Data
* Premium members only.
The historical data trend for Usha Martin's Gross Margin % can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
NSE:USHAMART vs NUE, STLD, RS: Gross Margin % Comparison
For the Steel subindustry, Usha Martin's Gross Margin %, along with its competitors' market caps and Gross Margin % data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Usha Martin Gross Margin % vs Steel Industry
For the Steel industry and Basic Materials sector, Usha Martin's Gross Margin % distribution charts can be found below:
* The bar in red indicates where Usha Martin's Gross Margin % falls into.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
A positive Gross Profit is only the first step for a company to make a net profit. The gross profit needs to be big enough to also cover related labor, equipment, rental, marketing/advertising, research and development and a lot of other costs in selling the products.
Usha Martin (NSE:USHAMART) has a Gross Margin % of 51.45% as of Mar. 2026. Gross margin is the ratio of total gross profit to net sales. View historical data on Usha Martin and its competitors. This is 23% above median its historical median of 41.71. Over the past decade, Usha Martin's Gross Margin % has ranged from 35.65 to 49.63. According to the industry distribution chart, Usha Martin ranks #29 out of 594 companies in the Steel industry, placing it in the top 4.9%.
Is Usha Martin's Gross Margin % too high?
Usha Martin's current Gross Margin % of 51.45% is 23% above median its 10-year median of 41.71. Over the past 10 years, this metric has ranged from a low of 35.65 to a high of 49.63. The Steel industry median Gross Margin % is 12.61. Usha Martin's value of 51.45% is 308% above this industry median. Based on the distribution chart, Usha Martin ranks #29 out of 594 companies in the Steel industry, which is in the top quartile — a strong position relative to peers. Overall, Usha Martin has a GF Score™ of 79/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Usha Martin's Gross Margin % compare to NUE and STLD?
According to the Steel industry distribution chart, Usha Martin ranks #29 out of 594 companies for Gross Margin %. This places Usha Martin in the top 5% of its industry — outperforming the majority of peers. The industry median Gross Margin % is 12.61. Usha Martin's value of 51.45% is 308% above this benchmark. Historically, Usha Martin's own Gross Margin % has ranged from 35.65 to 49.63 over the past decade. While the company's 10-year median is 41.71 vs. the industry median of 12.61, Usha Martin has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Gross Margin % for a Steel company?
The median Gross Margin % among Steel companies is 12.61, based on 594 companies in the industry. Companies in the top quartile (top 25%) have a Gross Margin % significantly above this median, while those in the bottom quartile fall well below. However, Gross Margin % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Usha Martin's current Gross Margin % of 51.45% is 308% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Gross Margin % mean?
A high Gross Margin % can signal that a stock is expensive relative to its fundamentals. Gross margin is the ratio of total gross profit to net sales. View historical data on Usha Martin and its competitors. For the Steel industry, the median Gross Margin % is 12.61 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Usha Martin's current Gross Margin % is 51.45%, which is 23% above median its own 10-year median of 41.71. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Usha Martin stock overvalued right now?
Based on GuruFocus' analysis, Usha Martin (NSE:USHAMART) is currently considered Modestly Overvalued. The stock's GF Value™ is ₹418.01, compared to a current price of ₹473.10 — trading 13.2% above its estimated fair value. The current Gross Margin % is 51.45%, which is 23% above median its 10-year median of 41.71 and 308% above the Steel industry median of 12.61. Usha Martin's overall GF Score™ is 79/100 with 2 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Gross Margin % calculated?
Gross Margin % is calculated from a company's financial statements. For Usha Martin (NSE:USHAMART), the current Gross Margin % is 51.45% as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Usha Martin (NSE:USHAMART) Overvalued in 2026?
Based on GuruFocus' analysis, Usha Martin stock appears to be overvalued.
The current stock price of ₹473.10 is trading 13.2% above its estimated GF Value™ of ₹418.01.
GuruFocus considers Usha Martin to be Modestly Overvalued.
Key valuation signals for NSE:USHAMART:
Gross Margin %: 51.45% (23% above median its 10-year median of 41.71)
GF Value™: ₹418.01 vs. price of ₹473.10 (13.2% above fair value)
Industry Position: 308% above the Steel median (#29 of 594)
No single metric tells the full story. See the NSE:USHAMART stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Usha Martin Ltd is engaged in the business of the production of wire rope. The company's operating segment includes Wire and wire ropes and others. It generates maximum revenue from the Wire and wire ropes segment. The wire and wire ropes segment manufactures and sells steel wires, strands, wire ropes, cords, related accessories, and others. Its Others segment includes the manufacturing and selling of wire drawing and allied machines and corporate office. Geographically, it derives a majority of revenue from India and also has its presence outside India.
79GF Score
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