Usha Martin Ltd: Intrinsic Value & Share Price Analysis

Share Price and Basic Stock Data

Last Updated: May 3, 2025, 8:57 pm

Market Cap	9,241 Cr.
Current Price	303
High / Low	451/279
Stock P/E	22.4
Book Value	84.5
Dividend Yield	0.91 %
ROCE	22.1 %
ROE	19.2 %
Face Value	1.00
PEG Ratio	1.00

Stock P/E, Current Price, and Intrinsic Value Over Time

Stock P/E Current Price Intrinsic Value

View Share Price Target for Usha Martin Ltd

Competitors of Usha Martin Ltd

Stock Name ⇩	Market Cap ⇩	Current Price ⇩	High / Low ⇩	Stock P/E ⇩	Book Value ⇩	Dividend Yield ⇩	ROCE ⇩	ROE ⇩	Face Value ⇩
Elango Industries Ltd	5.22 Cr.	13.7	14.3/8.52		10.1	0.00 %	3.45 %	3.45 %	10.0
Ashnisha Industries Ltd	34.8 Cr.	3.45	7.46/2.87	129	5.91	0.00 %	1.84 %	1.64 %	1.00
Usha Martin Ltd	9,241 Cr.	303	451/279	22.4	84.5	0.91 %	22.1 %	19.2 %	1.00
Shah Alloys Ltd	116 Cr.	58.6	113/43.3		1.08	0.00 %	5.46 %	43.8 %	10.0
Mukand Ltd	1,454 Cr.	101	189/84.4	15.4	65.1	1.99 %	10.8 %	11.5 %	10.0
Industry Average	14,817.25 Cr	177.96		46.73	59.12	0.57%	10.98%	16.58%	5.67

All Competitor Stocks of Usha Martin Ltd

Quarterly Result

Metric	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024
Sales	712	767	759	820	834	855	814	785	797	829	826	891	861
Expenses	612	660	641	705	707	701	669	640	640	678	672	730	718
Operating Profit	100	107	117	115	127	154	146	144	157	152	154	161	143
OPM %	14%	14%	15%	14%	15%	18%	18%	18%	20%	18%	19%	18%	17%
Other Income	9	40	10	9	7	13	7	25	8	14	9	11	9
Interest	11	7	7	8	8	8	6	6	6	7	7	8	9
Depreciation	17	17	17	17	17	17	18	18	19	23	22	23	26
Profit before tax	81	122	103	100	110	142	129	144	140	136	135	141	118
Tax %	20%	11%	20%	21%	23%	26%	22%	24%	23%	22%	23%	23%	22%
Net Profit	67	109	82	79	84	105	101	110	108	106	104	109	92
EPS in Rs	2.20	3.57	2.69	2.59	2.75	3.45	3.31	3.59	3.53	3.49	3.42	3.60	3.04

Last Updated: February 27, 2025, 11:26 pm

Below is a detailed analysis of the quarterly data for Usha Martin Ltd based on the most recent figures (Dec 2024) and their trends compared to the previous period:

For Sales, as of Dec 2024, the value is 861.00 Cr.. The value appears to be declining and may need further review. It has decreased from 891.00 Cr. (Sep 2024) to 861.00 Cr., marking a decrease of 30.00 Cr..
For Expenses, as of Dec 2024, the value is 718.00 Cr.. The value appears to be improving (decreasing) as expected. It has decreased from 730.00 Cr. (Sep 2024) to 718.00 Cr., marking a decrease of 12.00 Cr..
For Operating Profit, as of Dec 2024, the value is 143.00 Cr.. The value appears to be declining and may need further review. It has decreased from 161.00 Cr. (Sep 2024) to 143.00 Cr., marking a decrease of 18.00 Cr..
For OPM %, as of Dec 2024, the value is 17.00%. The value appears to be declining and may need further review. It has decreased from 18.00% (Sep 2024) to 17.00%, marking a decrease of 1.00%.
For Other Income, as of Dec 2024, the value is 9.00 Cr.. The value appears to be declining and may need further review. It has decreased from 11.00 Cr. (Sep 2024) to 9.00 Cr., marking a decrease of 2.00 Cr..
For Interest, as of Dec 2024, the value is 9.00 Cr.. The value appears to be increasing, which may not be favorable. It has increased from 8.00 Cr. (Sep 2024) to 9.00 Cr., marking an increase of 1.00 Cr..
For Depreciation, as of Dec 2024, the value is 26.00 Cr.. The value appears to be increasing, which may not be favorable. It has increased from 23.00 Cr. (Sep 2024) to 26.00 Cr., marking an increase of 3.00 Cr..
For Profit before tax, as of Dec 2024, the value is 118.00 Cr.. The value appears to be declining and may need further review. It has decreased from 141.00 Cr. (Sep 2024) to 118.00 Cr., marking a decrease of 23.00 Cr..
For Tax %, as of Dec 2024, the value is 22.00%. The value appears to be improving (decreasing) as expected. It has decreased from 23.00% (Sep 2024) to 22.00%, marking a decrease of 1.00%.
For Net Profit, as of Dec 2024, the value is 92.00 Cr.. The value appears to be declining and may need further review. It has decreased from 109.00 Cr. (Sep 2024) to 92.00 Cr., marking a decrease of 17.00 Cr..
For EPS in Rs, as of Dec 2024, the value is 3.04. The value appears to be declining and may need further review. It has decreased from 3.60 (Sep 2024) to 3.04, marking a decrease of 0.56.

Overall, while many items appear to show a positive trend, any significant downward movement warrant further investigation.

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: April 14, 2025, 3:49 am

Metric	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	TTM
Sales	3,622	4,074	4,561	4,112	3,882	2,066	2,488	2,154	2,097	2,688	3,268	3,225	3,407
Expenses	3,006	3,357	3,845	3,771	3,493	2,253	2,512	1,922	1,818	2,304	2,754	2,627	2,798
Operating Profit	616	717	717	341	389	-188	-24	232	279	384	513	599	609
OPM %	17%	18%	16%	8%	10%	-9%	-1%	11%	13%	14%	16%	19%	18%
Other Income	89	82	-63	32	120	77	17	537	29	75	40	53	43
Interest	338	440	522	547	564	92	114	74	57	42	30	25	30
Depreciation	264	333	418	308	300	60	61	64	68	70	67	77	93
Profit before tax	104	27	-287	-481	-355	-264	-181	630	183	346	455	550	530
Tax %	21%	50%	-12%	-11%	1%	2%	-126%	33%	20%	16%	23%	23%
Net Profit	82	13	-251	-428	-358	-268	49	421	152	291	351	424	412
EPS in Rs	2.59	0.35	-8.31	-14.10	-11.78	-8.90	1.57	13.74	4.91	9.56	11.49	13.91	13.55
Dividend Payout %	6%	0%	0%	0%	0%	0%	0%	0%	0%	21%	22%	20%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year	2013-2014	2014-2015	2015-2016	2016-2017	2017-2018	2018-2019	2019-2020	2020-2021	2021-2022	2022-2023	2023-2024
YoY Net Profit Growth (%)	-84.15%	-2030.77%	-70.52%	16.36%	25.14%	118.28%	759.18%	-63.90%	91.45%	20.62%	20.80%
Change in YoY Net Profit Growth (%)	0.00%	-1946.62%	1960.25%	86.87%	8.78%	93.14%	640.90%	-823.08%	155.34%	-70.83%	0.18%

Usha Martin Ltd has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 11 years from 2013-2014 to 2023-2024.

Growth

Compounded Sales Growth
10 Years:	-2%
5 Years:	5%
3 Years:	15%
TTM:	5%

Compounded Profit Growth
10 Years:	44%
5 Years:	53%
3 Years:	42%
TTM:	-3%

Stock Price CAGR
10 Years:	31%
5 Years:	83%
3 Years:	30%
1 Year:	-18%

Return on Equity
10 Years:	3%
5 Years:	20%
3 Years:	18%
Last Year:	19%

Last Updated: Unknown

Balance Sheet

Last Updated: December 14, 2024, 2:31 pm

Month	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Sep 2024
Equity Capital	31	31	31	31	31	31	31	31	31	31	31	31	31
Reserves	1,905	1,972	1,728	1,323	914	697	751	1,197	1,373	1,663	2,000	2,349	2,544
Borrowings	3,193	3,732	3,993	4,472	4,364	4,073	3,565	620	530	411	417	364	459
Other Liabilities	2,718	2,914	2,556	2,111	2,423	2,646	2,645	696	649	625	627	570	627
Total Liabilities	7,846	8,649	8,307	7,936	7,731	7,445	6,992	2,544	2,582	2,730	3,075	3,313	3,660
Fixed Assets	3,641	5,500	5,477	5,302	5,031	4,862	935	956	932	913	952	1,153	1,291
CWIP	1,294	373	132	147	121	113	13	33	45	38	139	166	151
Investments	0	0	0	46	37	39	42	44	48	56	66	56	59
Other Assets	2,911	2,775	2,698	2,441	2,542	2,432	6,001	1,511	1,557	1,722	1,917	1,938	2,160
Total Assets	7,846	8,649	8,307	7,936	7,731	7,445	6,992	2,544	2,582	2,730	3,075	3,313	3,660

Below is a detailed analysis of the balance sheet data for Usha Martin Ltd based on the most recent figures (Sep 2024) and their trends compared to the previous period:

For Equity Capital, as of Sep 2024, the value is ₹31.00 Cr.. The value remains steady. There is no change compared to the previous period (Mar 2024) which recorded 31.00 Cr..
For Reserves, as of Sep 2024, the value is ₹2,544.00 Cr.. The value appears strong and on an upward trend. It has increased from 2,349.00 Cr. (Mar 2024) to ₹2,544.00 Cr., marking an increase of 195.00 Cr..
For Borrowings, as of Sep 2024, the value is ₹459.00 Cr.. The value appears to be increasing, which may not be favorable. Additionally, since Reserves exceed Borrowings, this is considered a positive sign. It has increased from 364.00 Cr. (Mar 2024) to ₹459.00 Cr., marking an increase of 95.00 Cr..
For Other Liabilities, as of Sep 2024, the value is ₹627.00 Cr.. The value appears to be increasing, which may not be favorable. It has increased from 570.00 Cr. (Mar 2024) to ₹627.00 Cr., marking an increase of 57.00 Cr..
For Total Liabilities, as of Sep 2024, the value is ₹3,660.00 Cr.. The value appears to be increasing, which may not be favorable. It has increased from 3,313.00 Cr. (Mar 2024) to ₹3,660.00 Cr., marking an increase of 347.00 Cr..
For Fixed Assets, as of Sep 2024, the value is ₹1,291.00 Cr.. The value appears strong and on an upward trend. It has increased from 1,153.00 Cr. (Mar 2024) to ₹1,291.00 Cr., marking an increase of 138.00 Cr..
For CWIP, as of Sep 2024, the value is ₹151.00 Cr.. The value appears to be declining and may need further review. It has decreased from 166.00 Cr. (Mar 2024) to ₹151.00 Cr., marking a decrease of 15.00 Cr..
For Investments, as of Sep 2024, the value is ₹59.00 Cr.. The value appears strong and on an upward trend. It has increased from 56.00 Cr. (Mar 2024) to ₹59.00 Cr., marking an increase of 3.00 Cr..
For Other Assets, as of Sep 2024, the value is ₹2,160.00 Cr.. The value appears strong and on an upward trend. It has increased from 1,938.00 Cr. (Mar 2024) to ₹2,160.00 Cr., marking an increase of 222.00 Cr..
For Total Assets, as of Sep 2024, the value is ₹3,660.00 Cr.. The value appears strong and on an upward trend. It has increased from 3,313.00 Cr. (Mar 2024) to ₹3,660.00 Cr., marking an increase of 347.00 Cr..

Notably, the Reserves (2,544.00 Cr.) exceed the Borrowings (459.00 Cr.), indicating a solid financial buffer.

Overall, while many items appear to show a positive trend, any significant downward movement or items where Borrowings exceed Reserves warrant further investigation.

Reserves and Borrowings Chart

Cash Flow

Month	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Cash from Operating Activity +	429	1,144	729	856	686	914	974	212	214	159	252	444
Cash from Investing Activity +	-810	-1,050	-563	-385	-29	-35	-3	2,942	-34	57	-155	-285
Cash from Financing Activity +	243	18	-266	-491	-663	-872	-973	-3,105	-177	-161	-101	-159
Net Cash Flow	-138	113	-100	-20	-5	7	-2	50	2	55	-4	-0

Free Cash Flow

Month	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Free Cash Flow	613.00	714.00	714.00	337.00	385.00	-192.00	-27.00	-388.00	-251.00	-27.00	96.00	235.00

Free Cash Flow = Income Generated from Operational Activities - Borrowings - Capital Work in Progress (CWIP)

Consistent positive free cash flow is crucial for businesses as it indicates their ability to generate cash from their core operations. It provides financial flexibility, allowing companies to invest in growth opportunities, pay dividends to shareholders, reduce debt, and weather economic downturns more effectively.

Free Cash Flow Chart

Financial Efficiency Indicators

Month	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Debtor Days	58	47	39	55	64	119	48	51	57	56	56	61
Inventory Days	454	400	378	241	261	350	156	183	209	196	180	199
Days Payable	465	429	397	288	362	561	78	108	113	72	60	56
Cash Conversion Cycle	47	18	20	7	-37	-92	126	126	153	180	175	204
Working Capital Days	18	-28	-4	-40	-49	-117	19	96	122	123	116	126
ROCE %	9%	9%	6%	1%	3%	-4%	-1%	22%	13%	18%	21%	22%

Financial Efficiency Indicators Chart

Share Holding Pattern

Month	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024
Promoters	49.79%	49.26%	49.04%	48.70%	48.30%	48.27%	47.87%	47.51%	47.41%	46.04%	45.11%	43.54%
FIIs	8.60%	8.69%	8.68%	8.89%	8.83%	9.50%	9.29%	12.03%	12.94%	14.78%	14.19%	14.61%
DIIs	0.05%	0.05%	0.06%	0.04%	0.83%	2.12%	3.44%	3.86%	3.45%	3.60%	4.88%	7.45%
Public	41.56%	42.00%	42.22%	42.37%	42.04%	40.12%	39.38%	36.60%	36.20%	35.57%	35.81%	34.40%
No. of Shareholders	65,074	62,397	65,584	66,901	66,047	66,393	71,454	76,482	81,195	85,447	1,00,100	1,11,193

Shareholding Pattern Chart

No. of Shareholders

Mutual Fund Holdings

Fund Name	No of Shares	AUM (%)	Amount Invested (Cr)	Previous Number of Shares	Previous Date	Percentage Change
Quant Small Cap Fund	6,919,321	1.64	257.3	6,919,321	2025-04-22 17:25:16	0%
Quant Flexi Cap Fund	1,153,550	1.21	42.89	1,153,550	2025-04-22 17:25:16	0%
Quant Infrastructure Fund	766,525	1.74	28.5	766,525	2025-04-22 17:25:16	0%
Nippon India Nifty Smallcap 250 Index Fund	114,831	0.41	4.27	114,831	2025-04-22 17:25:16	0%
Motilal Oswal Nifty Smallcap 250 Index Fund	70,210	0.39	2.61	70,210	2025-04-22 17:25:16	0%
SBI Nifty Smallcap 250 Index Fund	58,321	0.39	2.17	58,321	2025-04-22 17:25:16	0%
Motilal Oswal Nifty 500 Index Fund	6,959	0.04	0.26	6,959	2025-04-22 17:25:16	0%
Edelweiss Nifty Smallcap 250 Index Fund	3,183	0.39	0.12	3,183	2025-04-22 17:25:16	0%

ROCE Trend

EPS Trend

Key Financial Ratios

Month	Mar 24	Mar 23	Mar 22	Mar 21	Mar 20
FaceValue	1.00	1.00	1.00	1.00	1.00
Basic EPS (Rs.)	13.92	11.51	9.56	4.91	13.75
Diluted EPS (Rs.)	13.92	11.51	9.56	4.91	13.75
Cash EPS (Rs.)	16.00	13.31	11.55	7.03	15.86
Book Value[Excl.RevalReserv]/Share (Rs.)	78.06	66.64	55.58	46.07	41.43
Book Value[Incl.RevalReserv]/Share (Rs.)	78.06	66.64	55.58	46.07	41.43
Revenue From Operations / Share (Rs.)	105.61	107.00	88.02	68.67	70.52
PBDIT / Share (Rs.)	20.92	17.73	13.72	10.23	9.33
PBIT / Share (Rs.)	18.40	15.52	11.43	8.01	7.25
PBT / Share (Rs.)	17.59	14.53	11.06	6.15	4.82
Net Profit / Share (Rs.)	13.48	11.10	9.27	4.81	13.77
NP After MI And SOA / Share (Rs.)	13.88	11.46	9.54	4.90	13.71
PBDIT Margin (%)	19.80	16.56	15.58	14.90	13.23
PBIT Margin (%)	17.42	14.50	12.98	11.66	10.27
PBT Margin (%)	16.65	13.57	12.56	8.95	6.83
Net Profit Margin (%)	12.76	10.36	10.52	7.00	19.53
NP After MI And SOA Margin (%)	13.14	10.71	10.83	7.13	19.44
Return on Networth / Equity (%)	17.81	17.24	17.19	10.65	34.12
Return on Capital Employeed (%)	20.69	19.93	17.13	13.63	12.95
Return On Assets (%)	12.73	11.34	10.61	5.74	16.35
Long Term Debt / Equity (X)	0.08	0.09	0.11	0.16	0.27
Total Debt / Equity (X)	0.12	0.17	0.21	0.30	0.47
Asset Turnover Ratio (%)	1.01	0.93	0.87	0.66	0.32
Current Ratio (X)	2.90	2.47	2.25	1.72	1.53
Quick Ratio (X)	1.46	1.21	1.12	0.89	0.81
Inventory Turnover Ratio (X)	1.83	2.10	2.21	1.76	1.69
Dividend Payout Ratio (NP) (%)	17.97	0.00	0.00	0.00	0.00
Dividend Payout Ratio (CP) (%)	15.20	0.00	0.00	0.00	0.00
Earning Retention Ratio (%)	82.03	0.00	0.00	0.00	0.00
Cash Earning Retention Ratio (%)	84.80	0.00	0.00	0.00	0.00
Interest Coverage Ratio (X)	25.78	17.89	9.87	5.49	3.84
Interest Coverage Ratio (Post Tax) (X)	17.61	12.19	6.93	3.66	0.15
Enterprise Value (Cr.)	9856.70	6737.01	4313.04	1318.53	993.51
EV / Net Operating Revenue (X)	3.06	2.06	1.60	0.62	0.46
EV / EBITDA (X)	15.43	12.44	10.30	4.22	3.49
MarketCap / Net Operating Revenue (X)	3.01	2.00	1.53	0.48	0.22
Retention Ratios (%)	82.02	0.00	0.00	0.00	0.00
Price / BV (X)	4.09	3.22	2.43	0.72	0.39
Price / Net Operating Revenue (X)	3.01	2.00	1.53	0.48	0.22
EarningsYield	0.04	0.05	0.07	0.14	0.85

After reviewing the key financial ratios for Usha Martin Ltd, here is a detailed analysis based on the latest available data and recent trends:

For FaceValue, as of Mar 24, the value is 1.00. This value is within the healthy range. There is no change compared to the previous period (Mar 23) which recorded 1.00.
For Basic EPS (Rs.), as of Mar 24, the value is 13.92. This value is within the healthy range. It has increased from 11.51 (Mar 23) to 13.92, marking an increase of 2.41.
For Diluted EPS (Rs.), as of Mar 24, the value is 13.92. This value is within the healthy range. It has increased from 11.51 (Mar 23) to 13.92, marking an increase of 2.41.
For Cash EPS (Rs.), as of Mar 24, the value is 16.00. This value is within the healthy range. It has increased from 13.31 (Mar 23) to 16.00, marking an increase of 2.69.
For Book Value[Excl.RevalReserv]/Share (Rs.), as of Mar 24, the value is 78.06. It has increased from 66.64 (Mar 23) to 78.06, marking an increase of 11.42.
For Book Value[Incl.RevalReserv]/Share (Rs.), as of Mar 24, the value is 78.06. It has increased from 66.64 (Mar 23) to 78.06, marking an increase of 11.42.
For Revenue From Operations / Share (Rs.), as of Mar 24, the value is 105.61. It has decreased from 107.00 (Mar 23) to 105.61, marking a decrease of 1.39.
For PBDIT / Share (Rs.), as of Mar 24, the value is 20.92. This value is within the healthy range. It has increased from 17.73 (Mar 23) to 20.92, marking an increase of 3.19.
For PBIT / Share (Rs.), as of Mar 24, the value is 18.40. This value is within the healthy range. It has increased from 15.52 (Mar 23) to 18.40, marking an increase of 2.88.
For PBT / Share (Rs.), as of Mar 24, the value is 17.59. This value is within the healthy range. It has increased from 14.53 (Mar 23) to 17.59, marking an increase of 3.06.
For Net Profit / Share (Rs.), as of Mar 24, the value is 13.48. This value is within the healthy range. It has increased from 11.10 (Mar 23) to 13.48, marking an increase of 2.38.
For NP After MI And SOA / Share (Rs.), as of Mar 24, the value is 13.88. This value is within the healthy range. It has increased from 11.46 (Mar 23) to 13.88, marking an increase of 2.42.
For PBDIT Margin (%), as of Mar 24, the value is 19.80. This value is within the healthy range. It has increased from 16.56 (Mar 23) to 19.80, marking an increase of 3.24.
For PBIT Margin (%), as of Mar 24, the value is 17.42. This value is within the healthy range. It has increased from 14.50 (Mar 23) to 17.42, marking an increase of 2.92.
For PBT Margin (%), as of Mar 24, the value is 16.65. This value is within the healthy range. It has increased from 13.57 (Mar 23) to 16.65, marking an increase of 3.08.
For Net Profit Margin (%), as of Mar 24, the value is 12.76. This value exceeds the healthy maximum of 10. It has increased from 10.36 (Mar 23) to 12.76, marking an increase of 2.40.
For NP After MI And SOA Margin (%), as of Mar 24, the value is 13.14. This value is within the healthy range. It has increased from 10.71 (Mar 23) to 13.14, marking an increase of 2.43.
For Return on Networth / Equity (%), as of Mar 24, the value is 17.81. This value is within the healthy range. It has increased from 17.24 (Mar 23) to 17.81, marking an increase of 0.57.
For Return on Capital Employeed (%), as of Mar 24, the value is 20.69. This value is within the healthy range. It has increased from 19.93 (Mar 23) to 20.69, marking an increase of 0.76.
For Return On Assets (%), as of Mar 24, the value is 12.73. This value is within the healthy range. It has increased from 11.34 (Mar 23) to 12.73, marking an increase of 1.39.
For Long Term Debt / Equity (X), as of Mar 24, the value is 0.08. This value is below the healthy minimum of 0.2. It has decreased from 0.09 (Mar 23) to 0.08, marking a decrease of 0.01.
For Total Debt / Equity (X), as of Mar 24, the value is 0.12. This value is within the healthy range. It has decreased from 0.17 (Mar 23) to 0.12, marking a decrease of 0.05.
For Asset Turnover Ratio (%), as of Mar 24, the value is 1.01. It has increased from 0.93 (Mar 23) to 1.01, marking an increase of 0.08.
For Current Ratio (X), as of Mar 24, the value is 2.90. This value is within the healthy range. It has increased from 2.47 (Mar 23) to 2.90, marking an increase of 0.43.
For Quick Ratio (X), as of Mar 24, the value is 1.46. This value is within the healthy range. It has increased from 1.21 (Mar 23) to 1.46, marking an increase of 0.25.
For Inventory Turnover Ratio (X), as of Mar 24, the value is 1.83. This value is below the healthy minimum of 4. It has decreased from 2.10 (Mar 23) to 1.83, marking a decrease of 0.27.
For Dividend Payout Ratio (NP) (%), as of Mar 24, the value is 17.97. This value is below the healthy minimum of 20. It has increased from 0.00 (Mar 23) to 17.97, marking an increase of 17.97.
For Dividend Payout Ratio (CP) (%), as of Mar 24, the value is 15.20. This value is below the healthy minimum of 20. It has increased from 0.00 (Mar 23) to 15.20, marking an increase of 15.20.
For Earning Retention Ratio (%), as of Mar 24, the value is 82.03. This value exceeds the healthy maximum of 70. It has increased from 0.00 (Mar 23) to 82.03, marking an increase of 82.03.
For Cash Earning Retention Ratio (%), as of Mar 24, the value is 84.80. This value exceeds the healthy maximum of 70. It has increased from 0.00 (Mar 23) to 84.80, marking an increase of 84.80.
For Interest Coverage Ratio (X), as of Mar 24, the value is 25.78. This value is within the healthy range. It has increased from 17.89 (Mar 23) to 25.78, marking an increase of 7.89.
For Interest Coverage Ratio (Post Tax) (X), as of Mar 24, the value is 17.61. This value is within the healthy range. It has increased from 12.19 (Mar 23) to 17.61, marking an increase of 5.42.
For Enterprise Value (Cr.), as of Mar 24, the value is 9,856.70. It has increased from 6,737.01 (Mar 23) to 9,856.70, marking an increase of 3,119.69.
For EV / Net Operating Revenue (X), as of Mar 24, the value is 3.06. This value exceeds the healthy maximum of 3. It has increased from 2.06 (Mar 23) to 3.06, marking an increase of 1.00.
For EV / EBITDA (X), as of Mar 24, the value is 15.43. This value exceeds the healthy maximum of 15. It has increased from 12.44 (Mar 23) to 15.43, marking an increase of 2.99.
For MarketCap / Net Operating Revenue (X), as of Mar 24, the value is 3.01. This value exceeds the healthy maximum of 3. It has increased from 2.00 (Mar 23) to 3.01, marking an increase of 1.01.
For Retention Ratios (%), as of Mar 24, the value is 82.02. This value exceeds the healthy maximum of 70. It has increased from 0.00 (Mar 23) to 82.02, marking an increase of 82.02.
For Price / BV (X), as of Mar 24, the value is 4.09. This value exceeds the healthy maximum of 3. It has increased from 3.22 (Mar 23) to 4.09, marking an increase of 0.87.
For Price / Net Operating Revenue (X), as of Mar 24, the value is 3.01. This value exceeds the healthy maximum of 3. It has increased from 2.00 (Mar 23) to 3.01, marking an increase of 1.01.
For EarningsYield, as of Mar 24, the value is 0.04. This value is below the healthy minimum of 5. It has decreased from 0.05 (Mar 23) to 0.04, marking a decrease of 0.01.

Overall, while many metrics show healthy performance, any figures highlighted in red or significant downward trends warrant further investigation.

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

Fair Value

Fair Value of Usha Martin Ltd as of May 3, 2025 is: 293.38

Calculation basis:

Fair value = P/E Ratio * (Return on Equity / 100) * Book Value * (1 + Dividend Yield / 100)
P/E Ratio (Price-to-Earnings Ratio): Represents the price of the stock relative to its earnings per share. A higher P/E ratio indicates that investors are willing to pay a higher price for the stock.
Return on Equity (ROE): Measures a company's profitability relative to its shareholder equity. It showcases the company's ability to generate profits using the investment made by its shareholders, offering valuable insight into its operational efficiency and financial performance.
Book Value: Represents the net asset value of the company per share. It is calculated as the total assets minus intangible assets and liabilities, divided by the number of outstanding shares.
Dividend Yield: The ratio of the annual dividend per share to the current market price per share. It offers valuable insights into the profitability of an investment through dividends.

This formula allows us to gauge the fair value of the stock by analyzing its fundamental indicators.

As of May 3, 2025, Usha Martin Ltd is Overvalued by 3.17% compared to the current share price 303.00

Intrinsic Value of Usha Martin Ltd as of May 3, 2025 is: 359.42

Calculation basis:

Intrinsic value = P/E Ratio * (Return on Equity / 100) * Book Value * (1 + Dividend Yield / 100) * (1 + EPS CAGR for Last 5 Years)
P/E Ratio (Price-to-Earnings Ratio): Represents the price of the stock relative to its earnings per share. A higher P/E ratio indicates that investors are willing to pay a higher price for the stock.
Return on Equity (ROE): Measures a company's profitability relative to its shareholder equity. It showcases the company's ability to generate profits using the investment made by its shareholders, offering valuable insight into its operational efficiency and financial performance.
Book Value: Represents the net asset value of the company per share. It is calculated as the total assets minus intangible assets and liabilities, divided by the number of outstanding shares.
Dividend Yield: The ratio of the annual dividend per share to the current market price per share. It offers valuable insights into the profitability of an investment through dividends.
EPS CAGR (Compound Annual Growth Rate): Represents the geometric mean growth rate of earnings per share over the last 5 years. It provides insight into the historical growth trajectory of the company's earnings.

This formula allows us to gauge the intrinsic value of the stock by analyzing its fundamental indicators along with EPS growth.

As of May 3, 2025, Usha Martin Ltd is Undervalued by 18.62% compared to the current share price 303.00

Last 5 Year EPS CAGR: 22.51%

*Investments are subject to market risks

Strength and Weakness

Strength	Weakness
The company has shown consistent growth in sales (2.85 cr) and profit (96.69 cr) over the years.	The stock has a low average ROCE of 9.92%, which may not be favorable. The stock has a high average Working Capital Days of 31.83, which may not be favorable. The stock has a high average Cash Conversion Cycle of 77.25, which may not be favorable. The company has higher borrowings (2,322.54) compared to reserves (1,570.46), which may suggest financial risk.

Stock Analysis

Considering all of the following key financial indicators, prospective investors are encouraged to conduct thorough research and seek professional guidance before considering any investment in Usha Martin Ltd:
1. Net Profit Margin: 12.76%
  - Net Profit Margin: This metric indicates the percentage of profit a company makes from its total revenue. A higher net profit margin is generally desirable as it reflects better profitability.
2. ROCE: 20.69% (Industry Average ROCE: 10.98%)
  - ROCE (Return on Capital Employed): ROCE measures a company's profitability and the efficiency with which its capital is employed. A higher ROCE indicates efficient use of capital.
3. ROE%: 17.81% (Industry Average ROE: 16.58%)
  - ROE (Return on Equity): ROE measures a company's profitability relative to shareholders' equity. A higher ROE indicates efficient use of shareholders' funds.
4. Interest Coverage Ratio (Post Tax): 17.61
  - Interest Coverage Ratio: The interest coverage ratio measures a company's ability to cover its interest payments on outstanding debt. A ratio greater than 2 is generally considered healthy as it indicates the company can meet its interest obligations comfortably.
5. Quick Ratio: 1.46
  - Quick Ratio: The quick ratio assesses a company's ability to cover its short-term liabilities with its most liquid assets. A ratio higher than 1 suggests the company can meet its short-term obligations without relying heavily on inventory.
6. Stock P/E: 22.4 (Industry average Stock P/E: 46.73)
  - Stock P/E (Price-to-Earnings) Ratio: The P/E ratio compares a company's current share price to its earnings per share. A lower P/E ratio relative to industry peers or historical values may indicate that the stock is undervalued.
7. Total Debt / Equity: 0.12
  - Total Debt / Equity: This ratio measures a company's financial leverage by comparing its total debt to its total equity. A lower ratio indicates lower financial risk and greater financial stability.
The current analysis is available for review. It's important to conduct thorough research and consider consulting with financial professionals before making any investment decisions.
Stock Rating:

About the Company - Qualitative Analysis

Usha Martin Ltd. is a Public Limited Listed company incorporated on 22/05/1986 and has its registered office in the State of West Bengal, India. Company's Corporate Identification Number(CIN) is L31400WB1986PLC091621 and registration number is 091621. Currently company belongs to the Industry of Steel - Alloys/Special. Company's Total Operating Revenue is Rs. 2046.09 Cr. and Equity Capital is Rs. 30.54 Cr. for the Year ended 31/03/2024.

INDUSTRY	ADDRESS	CONTACT
Steel - Alloys/Special	2A, Shakespeare Sarani, Kolkata West Bengal 700071	investor@ushamartin.co.in http://www.ushamartin.com

Management
Name	Position Held
Mr. Vijay Singh Bapna	Chairman & Ind.Dire (Non-Exe)
Mr. Rajeev Jhawar	Managing Director
Mr. Tapas Gangopadhyay	Non Executive Director
Mr. V Ramakrishna Iyer	Independent Director
Mr. Sethurathnam Ravi	Independent Director
Mrs. Ramni Nirula	Independent Director
Mr. S B N Sharma	Whole Time Director

FAQ

What is the intrinsic value of Usha Martin Ltd?

Usha Martin Ltd's intrinsic value (as of 03 May 2025) is ₹293.38 — 3.17% lower the current market price of 303.00, indicating overvalued. Calculated using the PE ratio method, this valuation considers the company's 9,241 Cr. market cap, FY2025-2026 high/low of ₹451/279, reserves of 2,544 Cr, and liabilities of 3,660 Cr.

What is the Market Cap of Usha Martin Ltd?

The Market Cap of Usha Martin Ltd is 9,241 Cr..

What is the current Stock Price of Usha Martin Ltd as on 03 May 2025?

The current stock price of Usha Martin Ltd as on 03 May 2025 is 303.

What is the High / Low of Usha Martin Ltd stocks in FY 2025-2026?

In FY 2025-2026, the High / Low of Usha Martin Ltd stocks is ₹451/279.

What is the Stock P/E of Usha Martin Ltd?

The Stock P/E of Usha Martin Ltd is 22.4.

What is the Book Value of Usha Martin Ltd?

The Book Value of Usha Martin Ltd is 84.5.

What is the Dividend Yield of Usha Martin Ltd?

The Dividend Yield of Usha Martin Ltd is 0.91 %.

What is the ROCE of Usha Martin Ltd?

The ROCE of Usha Martin Ltd is 22.1 %.

What is the ROE of Usha Martin Ltd?

The ROE of Usha Martin Ltd is 19.2 %.

What is the Face Value of Usha Martin Ltd?

The Face Value of Usha Martin Ltd is 1.00.