Usha MartinNSE:USHAMART +1.57%79 ROE % is 17.90% as of Mar. 2026, which is 14% above its 10-year median of 15.64. 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 622 Steel companies, Usha Martin ranks better than 81.99% on this metric.
ROE % is calculated as Net Income divided by its average Total Stockholders Equity over a certain period of time. Usha Martin's annualized net income for the quarter that ended in Mar. 2026 was ₹5,912 Mil. Usha Martin's average Total Stockholders Equity over the quarter that ended in Mar. 2026 was ₹33,019 Mil. Therefore, Usha Martin's annualized ROE % for the quarter that ended in Mar. 2026 was 17.90%.
The historical rank and industry rank for Usha Martin's ROE % or its related term are showing as below:
NSE:USHAMART'
s ROE % Range Over the Past 10 Years
Min: -32.44 Med: 15.64 Max: 41.69
Current: 11.77
During the past 13 years, Usha Martin's highest ROE % was 41.69%. The lowest was -32.44%. And the median was 15.64%.
NSE:USHAMART's ROE % is ranked better than 81.99% of 622
companies
in the Steel industry
Industry Median: 3.69
vs NSE:USHAMART: 11.77
Usha Martin (NSE:USHAMART) ROE % Explanation
ROE % measures the rate of return on the ownership interest (shareholder's equity) of the common stock owners. It measures a firm's efficiency at generating profits from every unit of shareholders' equity (also known as net assets or assets minus liabilities). ROE % shows how well a company uses investment funds to generate earnings growth. ROE %s between 15% and 20% are considered desirable.
The factors that affect a company's ROE % can be illustrated with the three-step DuPont Analysis:
Note:
The net income data used here is four times the quarterly (Mar. 2026) net income data. The Revenue data used here is four times the quarterly (Mar. 2026) revenue data. The same rule applies to Pre-Tax Income and Operating Income.
* In the five-step DuPont Analysis, Operating Income is only available for non-financial companies. Thus, for Insurance companies, we use EBIT as a substitution of Operating Income. For Banks, both Operating Income and EBIT is unavailable. Thus we combined Interest Burden and Operating Margin % into Pretax Margin %, and the DuPont Analysis is divided into four components instead.
* 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.
Be Aware
Net Income is used.
Because a company can increase its ROE % by having more financial leverage, it is important to watch the equity multiplier when investing in high ROE % companies. Like ROA %, ROE % is calculated with only 12 months data. Fluctuations in company's earnings or business cycles can affect the ratio drastically. It is important to look at the ratio from a long term perspective.
Asset light businesses require very few assets to generate very high earnings. Their ROE %s can be extremely high.
Usha Martin ROE % Related Terms
Usha Martin ROE % Historical Data
* Premium members only.
The historical data trend for Usha Martin's ROE % 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.
For the Steel subindustry, Usha Martin's ROE %, along with its competitors' market caps and ROE % 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 ROE % vs Steel Industry
For the Steel industry and Basic Materials sector, Usha Martin's ROE % distribution charts can be found below:
* The bar in red indicates where Usha Martin's ROE % 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.
In the calculation of annual ROE %, the net income of the last fiscal year and the average total shareholder equity over the fiscal year are used. In calculating the quarterly data,
the net income data used here is four times the quarterly (Mar. 2026) net income data.
ROE % is displayed in the 30-year financial page.
Usha Martin (NSE:USHAMART) has a ROE % of 17.90% as of Mar. 2026. Return on equity is the ratio of current-period net income to average two-period total equity. View historical data on Usha Martin and its competitors. This is 14% above median its historical median of 15.64. According to the industry distribution chart, Usha Martin ranks #112 out of 622 companies in the Steel industry, placing it in the top 18%.
Is Usha Martin's ROE % too high?
Usha Martin's current ROE % of 17.90% is 14% above median its 10-year median of 15.64. The Steel industry median ROE % is 3.69. Usha Martin's value of 17.90% is 385.1% above this industry median. Based on the distribution chart, Usha Martin ranks #112 out of 622 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 ROE % compare to NUE and STLD?
According to the Steel industry distribution chart, Usha Martin ranks #112 out of 622 companies for ROE %. This places Usha Martin in the top 18% of its industry — outperforming the majority of peers. The industry median ROE % is 3.69. Usha Martin's value of 17.90% is 385.1% above this benchmark. While the company's 10-year median is 15.64 vs. the industry median of 3.69, 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 ROE % for a Steel company?
The median ROE % among Steel companies is 3.69, based on 622 companies in the industry. Companies in the top quartile (top 25%) have a ROE % significantly above this median, while those in the bottom quartile fall well below. However, ROE % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Usha Martin's current ROE % of 17.90% is 385.1% 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 ROE % mean?
A high ROE % can signal that a stock is expensive relative to its fundamentals. Return on equity is the ratio of current-period net income to average two-period total equity. View historical data on Usha Martin and its competitors. For the Steel industry, the median ROE % is 3.69 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Usha Martin's current ROE % is 17.90%, which is 14% above median its own 10-year median of 15.64. 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 ROE % is 17.90%, which is 14% above median its 10-year median of 15.64 and 385.1% above the Steel industry median of 3.69. 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 ROE % calculated?
ROE % is calculated from a company's financial statements. For Usha Martin (NSE:USHAMART), the current ROE % is 17.90% 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:
ROE %: 17.90% (14% above median its 10-year median of 15.64)
GF Value™: ₹418.33 vs. price of ₹473.10 (13.1% above fair value)
Industry Position: 385.1% above the Steel median (#112 of 622)
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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