Usha MartinNSE:USHAMART +1.57%79 Net Margin % is 15.09% as of Mar. 2026, which is 37% above its 10-year median of 11.05. GuruFocus rates NSE:USHAMART with a GF Score™ of 79/100 and a GF Value™ of ₹418.33 (Modestly Overvalued). The stock has 2 warning signs investors should review. Among 615 Steel companies, Usha Martin ranks better than 91.87% on this metric.
Net margin is calculated as Net Income divided by its Revenue. Usha Martin's Net Income for the
three
months ended in Mar. 2026 was ₹1,478 Mil. Usha Martin's Revenue for the
three
months ended in Mar. 2026 was ₹9,793 Mil. Therefore, Usha Martin's net margin for the quarter that ended in Mar. 2026 was 15.09%.
The historical rank and industry rank for Usha Martin's Net Margin % or its related term are showing as below:
NSE:USHAMART'
s Net Margin % Range Over the Past 10 Years
Min: -13.36 Med: 11.05 Max: 19.92
Current: 12.8
NSE:USHAMART's Net Margin % is ranked better than 91.87% of 615
companies
in the Steel industry
Industry Median: 1.86
vs NSE:USHAMART: 12.80
Usha Martin (NSE:USHAMART) Net Margin % Explanation
Although Net Income and Earnings-per-Share (EPS) are the most widely used parameter in measuring a company's profitability and valuation, it is the least reliable. The reason is that reported earnings can be manipulated easily by adjusting any numbers such as Depreciation, Depletion and Amotorization and non-recurring items.
But the long term trend of the net margin is a good indicator of the competitiveness and health of the business.
Usha Martin Net Margin % Related Terms
Usha Martin Net Margin % Historical Data
* Premium members only.
The historical data trend for Usha Martin's Net 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: Net Margin % Comparison
For the Steel subindustry, Usha Martin's Net Margin %, along with its competitors' market caps and Net 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 Net Margin % vs Steel Industry
For the Steel industry and Basic Materials sector, Usha Martin's Net Margin % distribution charts can be found below:
* The bar in red indicates where Usha Martin's Net 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.
Usha Martin (NSE:USHAMART) has a Net Margin % of 15.09% as of Mar. 2026. Net margin is the ratio of total net income to net sales. View historical data on Usha Martin and its competitors. This is 37% above median its historical median of 11.05. According to the industry distribution chart, Usha Martin ranks #50 out of 615 companies in the Steel industry, placing it in the top 8.1%.
Is Usha Martin's Net Margin % too high?
Usha Martin's current Net Margin % of 15.09% is 37% above median its 10-year median of 11.05. The Steel industry median Net Margin % is 1.86. Usha Martin's value of 15.09% is 711.3% above this industry median. Based on the distribution chart, Usha Martin ranks #50 out of 615 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 Net Margin % compare to NUE and STLD?
According to the Steel industry distribution chart, Usha Martin ranks #50 out of 615 companies for Net Margin %. This places Usha Martin in the top 8% of its industry — outperforming the majority of peers. The industry median Net Margin % is 1.86. Usha Martin's value of 15.09% is 711.3% above this benchmark. While the company's 10-year median is 11.05 vs. the industry median of 1.86, 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 Net Margin % for a Steel company?
The median Net Margin % among Steel companies is 1.86, based on 615 companies in the industry. Companies in the top quartile (top 25%) have a Net Margin % significantly above this median, while those in the bottom quartile fall well below. However, Net Margin % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Usha Martin's current Net Margin % of 15.09% is 711.3% 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 Net Margin % mean?
A high Net Margin % can signal that a stock is expensive relative to its fundamentals. Net margin is the ratio of total net income to net sales. View historical data on Usha Martin and its competitors. For the Steel industry, the median Net Margin % is 1.86 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Usha Martin's current Net Margin % is 15.09%, which is 37% above median its own 10-year median of 11.05. 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 ₹418.33, compared to a current price of ₹473.10 — trading 13.1% above its estimated fair value. The current Net Margin % is 15.09%, which is 37% above median its 10-year median of 11.05 and 711.3% above the Steel industry median of 1.86. 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 Net Margin % calculated?
Net Margin % is calculated from a company's financial statements. For Usha Martin (NSE:USHAMART), the current Net Margin % is 15.09% 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 13.1% above its estimated GF Value™ of ₹418.33.
GuruFocus considers Usha Martin to be Modestly Overvalued.
Key valuation signals for NSE:USHAMART:
Net Margin %: 15.09% (37% above median its 10-year median of 11.05)
GF Value™: ₹418.33 vs. price of ₹473.10 (13.1% above fair value)
Industry Position: 711.3% above the Steel median (#50 of 615)
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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