| ₹ crore | Q1 FY27 | Q1 FY26 | Change |
|---|---|---|---|
| Revenue | 1,033 | 887 | +16.4% |
| EBITDA | 208 | 145 | +43.8% |
| EBITDA margin | 20.1% | 16.3% | +3.8 pts |
| Profit before tax | 179 | 125 | +43.2% |
| Net profit | 142 | 101 | +40.9% |
| EPS | ₹4.66 | ₹3.31 | +40.8% |
Amounts on the left scale in ₹ crore; per cent on the right, dashed. L = lakh crore, K = thousand crore. Touch the chart to read any period.
| Tap a line for its trend | Currentlast 12M | FY26Mar 2026 | FY25Mar 2025 | FY24Mar 2024 | FY23Mar 2023 | FY22 and earlierAlpha Plus |
|---|
| 14,160 | — | — | — | — | FY22 and earlierEvery year the company has filed comes with Alpha Plus. | |
| 242 | 242 | 261 | 150 | 150 | ||
| 0.2 | 0.2 | −0.2 | 4.2 | 4.3 | ||
| 146 | 146 | 338 | 298 | 355 | ||
| 14,064 | — | — | — | — | ||
| 3,837 | 3,691 | 3,474 | 3,225 | 3,268 | ||
| — | +6.2% | +7.7% | −1.3% | — | ||
| 768 | 705 | 597 | 599 | 513 | ||
| 20.0% | 19.1% | 17.2% | 18.6% | 15.7% | ||
| 647 | 589 | 499 | 522 | 446 | ||
| 508 | 466 | 406 | 424 | 351 | ||
| 13.2% | 12.6% | 11.7% | 13.2% | 10.7% | ||
| ₹16.62 | ₹15.27 | ₹13.35 | ₹13.90 | ₹11.48 | ||
| — | +14.4% | −3.9% | +21.1% | — | ||
| — | 655 | 422 | 444 | 252 | ||
| — | −198 | −245 | −278 | −182 | ||
| 457 | 457 | 177 | 166 | 69.3 | ||
From the company's filings with NSE and BSE (Ind-AS), consolidated. For information only, not investment advice.
In ₹ Crore except Per Share 12 Months Ending | FY23 31/03/2023 | FY24 31/03/2024 | FY25 31/03/2025 | FY26 31/03/2026 | Current/LTM TTM · last close | |
|---|---|---|---|---|---|---|
| Market Capitalization | — | — | — | — | 14,159.7 | |
| - Cash, Equiv & ST Investments | 150.2 | 149.8 | 260.7 | 241.8 | 241.8 | |
| + Minority Interest | 4.3 | 4.2 | -0.2 | 0.2 | 0.2 | |
| + Total Debt | 354.6 | 297.8 | 337.6 | 145.5 | 145.5 | |
| Enterprise Value | — | — | — | — | 14,063.5 | |
| Revenue | 3,267.8 | 3,225.2 | 3,474.2 | 3,691.1 | 3,836.9 | |
| Growth %, YoY | — | -1.3 | +7.7 | +6.2 | — | |
| EBITDA | 513.3 | 598.6 | 597.1 | 705.1 | 768.5 | |
| Margin % | 15.71 | 18.56 | 17.19 | 19.10 | 20.03 | |
| EBIT | 445.9 | 521.6 | 499.2 | 588.7 | 647.3 | |
| Net Income | 350.6 | 424.1 | 406.3 | 466.3 | 507.5 | |
| Margin % | 10.73 | 13.15 | 11.70 | 12.63 | 13.23 | |
| EPS, Adj (current shares) | 11.48 | 13.90 | 13.35 | 15.27 | 16.62 | |
| Growth %, YoY | — | +21.1 | -3.9 | +14.4 | — | |
| Cash from Operations | 251.6 | 443.8 | 421.8 | 655.3 | — | |
| Capital Expenditures | -182.3 | -277.6 | -244.7 | -198.1 | — | |
| Free Cash Flow | 69.3 | 166.2 | 177.1 | 457.3 | 457.3 | |
Prices at the 29 October 2026 close · figures from the company's filings with NSE
Usha Martin (NSE: USHAMART) had a market capitalisation of ₹14,093 crore at the 29 October 2026 close (₹461.90 a share), a PE ratio of 27.8 on the last four quarters' profit and a price-to-book ratio of 4.27. In FY26 its consolidated net profit was ₹466 crore on revenue of ₹3,691 crore; in Q1 FY27 (April–June 2026) it was ₹142 crore, up 40.7% year on year. Its debt-to-equity ratio was 0.04 on 31 March 2026. Promoters held 40.09% of the shares on 30 September 2026.
Usha Martin's PE ratio is 27.8 at the 29 October 2026 close (₹461.90 a share): a market capitalisation of ₹14,093 crore divided by consolidated net profit of ₹507 crore over the last four quarters (Q2 FY26 to Q1 FY27). On FY26 net profit (₹466 crore) it is 30.2.
Usha Martin's net worth — shareholders' equity in its consolidated balance sheet — was ₹3,302 crore on 31 March 2026, up 20.0% from ₹2,752 crore a year earlier. Its market value is a different figure: a market capitalisation of ₹14,093 crore at the 29 October 2026 close.
Usha Martin's book value per share was ₹108.22 on 31 March 2026: shareholders' equity of ₹3,302 crore divided by the 30.51 crore shares in issue, up 20.0% from ₹90.17 a year earlier. The share price at the 29 October 2026 close was ₹461.90.
Usha Martin's price-to-book (PB) ratio is 4.27 at the 29 October 2026 close: a market capitalisation of ₹14,093 crore divided by shareholders' equity (book value) of ₹3,302 crore on 31 March 2026. That is a book value of ₹108.22 per share against a share price of ₹461.90.
In FY26, Usha Martin's return on equity (ROE) was 15.4% and its return on capital employed (ROCE) was 17.9%. ROE is net profit divided by average shareholders' equity (the start and end of the year); ROCE is operating profit (EBIT) divided by average capital employed (total assets less current liabilities). In FY25, ROE was 15.9% and ROCE 17.3%.
Usha Martin's dividend yield is 0.81% at the 29 October 2026 close: dividends of ₹3.75 a share that went ex-dividend in the 12 months before that day, divided by the share price of ₹461.90. They were ₹3.75 on 13 August 2026.
Usha Martin's market capitalisation was ₹14,093 crore at the 29 October 2026 close: 30.51 crore shares at ₹461.90 each.
Usha Martin's basic earnings per share (EPS) were ₹15.30 in FY26, against ₹13.37 in FY25. Over the last four quarters (Q2 FY26 to Q1 FY27) they add up to ₹16.65.
In 2026, Usha Martin has declared one dividend: ₹3.75 with record date 13 August 2026.
No. Usha Martin had borrowings of ₹146 crore on 31 March 2026 (consolidated balance sheet), a debt-to-equity ratio of 0.04. Its cash and current investments were ₹478 crore, so it held net cash of ₹332 crore.
Usha Martin's debt-to-equity ratio was 0.04 on 31 March 2026: borrowings of ₹146 crore against total equity of ₹3,302 crore. A year earlier, on 31 March 2025, it was 0.12.
In FY26, Usha Martin generated ₹655 crore of cash from operations and spent ₹198 crore on capital expenditure (property, plant, equipment and intangibles), leaving free cash flow of ₹457 crore. In FY25 it was ₹177 crore.
Promoters held 40.09% of Usha Martin on 30 September 2026, down 0.19 percentage points from 40.28% the previous quarter and down 1.67 percentage points from 41.76% a year earlier, according to the shareholding pattern filed with NSE.
Usha Martin's latest results are for Q1 FY27 (April–June 2026), filed on 27 July 2026: consolidated net profit ₹142 crore, up 40.7% from ₹101 crore in Q1 FY26; revenue from operations ₹1,033 crore, up 16.4% year on year.
In FY26 (April 2025–March 2026), Usha Martin's consolidated net profit was ₹466 crore, up 14.4% from ₹407 crore in FY25, on revenue from operations of ₹3,691 crore (up 6.2%). Over three years, from FY23, net profit was up 33.1%.
On 30 September 2026, Usha Martin's shares were held by promoters 40.09%, foreign portfolio investors (FII/FPI) 15.34%, domestic institutions (DII) 17.34% (including mutual funds at 14.20%) and retail and other non-institutional investors 27.12%. Over the year, FII holding was up 1.19 percentage points from 14.15% and DII holding was up 5.05 percentage points from 12.29%.
On FY26 consolidated figures, against Titagarh Rail Systems, Timken India and Zen Technologies: Usha Martin's operating margin of 16.0% is the second highest of the four (Titagarh Rail Systems 9.3%, Timken India 15.1%, Zen Technologies 32.4%; peer average 19.0%); its return on equity of 15.4% is the highest of the four (Titagarh Rail Systems 5.0%, Timken India 14.4%, Zen Technologies 10.8%; peer average 10.1%).
At the 29 October 2026 closing prices, on FY26 net profit, Usha Martin's PE ratio is 30.2, the lowest of the four: Titagarh Rail Systems 72.9, Timken India 51.8 and Zen Technologies 75.7, a peer average of 66.8. Each is the company's market capitalisation at that price divided by its FY26 net profit.
Usha Martin has not yet announced the date of its Q2 FY27 results (July–September 2026); under SEBI's listing rules (Regulation 33) they are due by 14 November 2026.
In FY26, Usha Martin earned net profit of ₹466 crore on revenue of ₹3,691 crore, against ₹123 crore on ₹3,186 crore for Titagarh Rail Systems. Usha Martin's operating margin was 16.0% (Titagarh Rail Systems 9.3%) and its return on equity 15.4% (Titagarh Rail Systems 5.0%). At the 29 October 2026 close, Usha Martin's market capitalisation was ₹14,093 crore against ₹8,952 crore for Titagarh Rail Systems, and its PE ratio on FY26 profit 30.2 against 72.9.
From Usha Martin's own consolidated results, balance sheets and shareholding patterns filed with NSE, and NSE prices (the latest used here: the 29 October 2026 close). Ratios are calculated by Alphave from those filings as each answer describes.
Consolidated figures from the company's filings with NSE; prices are NSE closing prices.