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Usha Martin Limited on Thursday, January 29, reported a mixed set of earnings for the December quarter, with profit rising despite margin pressure and flat operating performance.
The steel wire ropes maker posted a consolidated net profit of ₹107 crore in Q3, up 16.4% year-on-year from ₹92.5 crore in the same period last year. Revenue from operations increased 6.6% YoY to ₹917 crore, compared with ₹860 crore a year ago, aided by steady demand across core businesses.
However, operating performance remained subdued. EBITDA declined marginally by 0.7% YoY to ₹219 crore, compared with ₹220 crore in the year-ago quarter. As a result, EBITDA margin slipped to 23.9% from 25.6%, reflecting cost pressures during the quarter.
Also read: Tata Motors CV arm posts strong Q3 numbers but net profit skids on exceptional charges
The company’s Wire & Wire Ropes segment continued to dominate performance, accounting for the bulk of revenues and profits, while the ‘Others’ segment remained small and loss-making. On a sequential basis, profitability was also impacted by higher expenses and lower operating leverage.
During the quarter, Usha Martin recorded exceptional items of about ₹133.5 crore, largely linked to the impact of the new labour codes, which were treated as non-recurring in nature. The company said it has assessed the incremental impact of the labour reforms based on legal opinion and best available information.
For the nine months ended December 31, 2025, consolidated revenue stood at ₹2,711.8 crore, while profit after tax rose to ₹338.3 crore, compared with ₹305.4 crore in the corresponding period last year.
Shares of the company ended 1.51% lower at ₹408.95 ahead of the Q3 results announcement on Thursday. The stock has declined 9.25% in the past one month.
The steel wire ropes maker posted a consolidated net profit of ₹107 crore in Q3, up 16.4% year-on-year from ₹92.5 crore in the same period last year. Revenue from operations increased 6.6% YoY to ₹917 crore, compared with ₹860 crore a year ago, aided by steady demand across core businesses.
However, operating performance remained subdued. EBITDA declined marginally by 0.7% YoY to ₹219 crore, compared with ₹220 crore in the year-ago quarter. As a result, EBITDA margin slipped to 23.9% from 25.6%, reflecting cost pressures during the quarter.
Also read: Tata Motors CV arm posts strong Q3 numbers but net profit skids on exceptional charges
The company’s Wire & Wire Ropes segment continued to dominate performance, accounting for the bulk of revenues and profits, while the ‘Others’ segment remained small and loss-making. On a sequential basis, profitability was also impacted by higher expenses and lower operating leverage.
During the quarter, Usha Martin recorded exceptional items of about ₹133.5 crore, largely linked to the impact of the new labour codes, which were treated as non-recurring in nature. The company said it has assessed the incremental impact of the labour reforms based on legal opinion and best available information.
For the nine months ended December 31, 2025, consolidated revenue stood at ₹2,711.8 crore, while profit after tax rose to ₹338.3 crore, compared with ₹305.4 crore in the corresponding period last year.
Shares of the company ended 1.51% lower at ₹408.95 ahead of the Q3 results announcement on Thursday. The stock has declined 9.25% in the past one month.
