Slide 1: Q3 & 9M FY26 Results Earnings Presentation
Q3 & 9M FY26 RESULTS Earnings Presentation January 2026 |
Slide 2: Disclaimer
Disclaimer This presentation and the accompanying slides (the “Presentation”), which have been prepared by Usha Martin Ltd. (the “Company”), have been prepared solely for information purposes and do not constitute any offer, recommendation or invitation to purchase or subscribe for any securities, a
Slide 3: Key financial highlights – Consolidated Q3 & 9M FY26
In Rs. crore Key financial highlights – Consolidated Q3 & 9M FY26 NET REVENUE FROM OPERATIONS OPERATING EBITDA MARGINS 2,712 16.6% 19.1% 19.2% 17.7% 18.2% 2,578 494 458 861 908 917 173 176 143 Q3 FY25 Q2 FY26 Q3 FY26 9M FY25 9M FY26 Q3 FY25 Q2 FY26 Q3 FY26 9M FY25 9M FY26 Shift (%) QoQ: 1.0% YoY: 6
Slide 4: Revenue breakdown by segment
In Rs. crore Revenue breakdown by segment WIRE ROPE WIRE 1,872 1,977 290 238 616 678 657 91 105 87 Q3 FY25 Q2 FY26 Q3 FY26 9M FY25 9M FY26 Q3 FY25 Q2 FY26 Q3 FY26 9M FY25 9M FY26 Shift (%) QoQ: 3.1% YoY : 6.6% 5.6% Shift (%) QoQ: 15.2% YoY: 20.2% 21.8% LRPC 266 228 ▪ In Q3 FY26, the Wire
Slide 5: Diversified presence across geographies and segments
Diversified presence across geographies and segments Revenue Segmentation for 9M FY26 PRODUCT SEGMENTATION END INDUSTRY SEGMENTATION1 GEOGRAPHY SEGMENTATION Others, 8% Others, 3% Americas, 8% Fishing, 3% Middle East & Africa, 10% Mining, 6% Wire , 11% Engineering, 25% Utilities, 3% Elevator, 9% India
Slide 6: Successfully managing raw-material volatility
Successfully managing raw-material volatility STEEL PRICE (RS. PER TONNE) 54,906 54,097 53,618 50,958 49,356 Q3FY25 FY25 Q1FY26 Q2FY26 Q3FY26 EBITDA/TONNE2 (RS.) 34,915 33,350 28,302 30,148 28,502 Q3FY25 FY25 Q1FY26 Q2FY26 Q3FY26 Note 1: All figures mentioned in the slide are consolidated financials N
Slide 7: Key financial indicators remain healthy
Key financial indicators remain healthy ROCE 2 (%) ROE (%) 22.8% 19.3% 19.8% 19.2% 15.8% 15.6% FY24 FY25 Dec.'25* FY24 FY25 Dec.'25* INTEREST COVERAGE (X) FIXED ASSET TURNOVER (X) 2.7 2.5 2.4 28.8 23.2 18.8 FY24 FY25 Dec.'25 FY24 FY25 Dec.'25^ Note 1: All figures mentioned in the slide are consolidate
Slide 8: Net cash position of Rs 198 cr during 9MFY26
In Rs. crore Net cash position of Rs 198 cr during 9MFY26 GROSS DEBT NET DEBT 338 124 292 63 172 -198 FY24 FY25 Dec.'25 FY24 FY25 Dec.'25 GROSS DEBT TO EQUITY (X) NET DEBT TO EQUITY (X) 0.12 0.12 0.05 0.02 0.06 -0.06 FY24 FY25 Dec.'25 FY24 FY25 Dec.'25 Note 1: All figures mentioned in the slide are c
Slide 9: Net working capital to turnover remains steady
Net working capital to turnover remains steady CURRENT RATIO (X) NET WORKING CAPITAL (RS. CRORE) 1,199 1,155 2.9 2.8 3.0 1,089 Mar-24 Mar-25 Dec.'25 Mar-24 Mar-25 Dec.'25 NET WORKING CAPITAL (DAYS) NET WORKING CAPITAL TO TURNOVER (LTM, %) 32.8% 32.9% 33.4% 198 199 198 Mar-24 Mar-25 Dec.'25 Mar-24 Ma
Slide 10: Healthy free cash flows despite capex spend of Rs. 155 crore
In Rs. crore Healthy free cash flows despite capex spend of Rs. 155 crore OPERATING CASH FLOW (OCF) BEFORE INCOME TAX AND % TO EBITDA 114% 94% 91% 561 541 561 • Strong cash generation maintained, with operating cash flow of Rs. 561 crore in 9M FY26, representing 114% of EBITDA • Healthy free cash flow
Slide 11: Long term issuer rating at 'IND A+' / Outlook: Stable
Long term issuer rating at ‘IND A+’ / Outlook: Stable A+ A A- BBB+ BBB BBB- BB+ BB BB- FY'18 FY'19 FY'20 FY'21 FY'22 FY'23 FY'24 Jul'25 ▪ India Ratings and Research Pvt. Ltd. recently reaffirmed Usha Martin Ltd.’s ratings at “IND A+/Stable” for Current Rating A+ Long Term Credit Facilities and “IND
Slide 12: Management comment
Management comment Commenting on the performance Mr. Rajeev Jhawar, Managing Director said: “I am pleased to report a healthy operating performance in Q3 FY26, with consolidated operating Mr. Rajeev Jhawar EBITDA for the quarter at Rs. 176 crore, representing a strong 23.3% year-on-year increase. EB
Slide 13: Annexure
ANNEXURE | | 13
Slide 14: Abridged Consolidated P&L statement
In Rs. crore Abridged Consolidated P&L statement Y-o-Y Change Q-o-Q Change Y-o-Y Change Q3 FY26 Q3 FY25 Q2 FY26 9M FY26 9M FY25 (%) (%) (%) Revenue from Operations 917.1 860.5 6.6% 907.6 1.0% 2,711.8 2,578.1 5.2% Operating EBITDA 175.9 142.7 23.3% 173.0 1.7% 493.6 457.5 7.9% Operating EBITDA Margin
Slide 15: Abridged Standalone P&L statement
In Rs. crore Abridged Standalone P&L statement Y-o-Y Change Q-o-Q Change Y-o-Y Change Q3 FY26 Q3 FY25 Q2 FY26 9M FY26 9M FY25 (%) (%) (%) Revenue from Operations 581.5 565.3 2.9% 550.8 5.6% 1,672.4 1,626.9 2.8% Operating EBITDA 125.1 114.9 8.9% 114.6 9.2% 335.6 322.0 4.2% Operating EBITDA Margin (%)
Slide 16: Key operational highlights – Consolidated Q3 & 9M FY26
Key operational highlights – Consolidated Q3 & 9M FY26 Figure in (‘000 MT) SALES VOLUMES1 ▪ Overall sales volumes improved year-on-year, reflecting steady 154 demand across key segments 146 ▪ Segment-wise contribution to overall volumes Q3 FY26: 50 50 53 ▪ Wire Rope - 49% (FY25: 52%) ▪ Wire - 26% (FY
Slide 17: Globally recognized certifications and licenses
Globally recognized certifications and licenses ISO 45001: 2018 ISO 14001: 2015 Certificate of Authority issued ISO 9001: 2015 Occupational Health & Environmental management by American Petroleum Quality management Safety systems Institute Systems Manufacturing Approved Manufacturer of DGMS Approval A
Slide 18: Market snapshot
Market snapshot As on Key Market Statistics st Shareholding pattern as on 31st December 2025 31 December, 2025 Public (including EWT), 20% BSE/NSE Ticker 517146 / USHAMART Market Price (Rs.) 454.55 Promoters, 40% Market Cap (Rs. Crore) 13,852.04 Corporate Bodies, 12% Number of outstanding shares 30.
Slide 19: Concall details
Concall details Usha Martin Ltd. Q3 & 9M FY26 Earnings Conference Call Time: 10:00 AM IST on Friday, January 30, 2026 To enable participants to connect to the conference call without having to wait for an operator, please register at the below mentioned link: Pre-registration You will receive dial i
Slide 20: Contact us
Contact us About Us: Established in the year 1960, Usha Martin is a leading global and India’s No. 1 specialty steel wire rope solutions provider. The Company is also engaged in the manufacturing Usha Martin Limited of high-quality wires, low relaxation prestressed concrete steel strand (LRPC), Tel:
Slide 21: Thank you
THANK YOU USHA MARTIN LIMITED 2A, Shakespeare Sarani, contact@ushamartin.com Kolkata - 700 071, India www.ushamartin.com | | 21