Usha Martin Posts Quarterly Results; Highlights Discontinued Business and Ongoing Regulatory Matters
Usha Martin Limited announced its unaudited financial results for the quarter ended June 30, 2026, following a Board meeting held on July 27, 2026. The results reflect performance across both consolidated and standalone levels, while the company continues to navigate several significant ongoing legal proceedings and structural changes in its operations.The company released the Unaudited Consolidated Financial Results, which include the performance of the Holding Company and its nineteen subsidiaries, two joint ventures, and the Usha Martin Employees Welfare Trust. Simultaneously, management presented the unaudited standalone results, encompassing the company itself and the ESOP Trust.
Quarterly Performance Summary
Key financial highlights from the consolidated results for the quarter ended June 30, 2026, compared to previous periods are as follows:| Metric | Qtr Ended Jun 30, 2026 (Unaudited) | Qtr Ended Mar 31, 2026 (Audited) | Qtr Ended Jun 30, 2025 (Unaudited) |
|---|---|---|---|
| Revenue from Operations | 1,03,300 lakhs | 97,926 lakhs | 88,719 lakhs |
| Total Income | 1,04,156 lakhs | 1,00,592 lakhs | 90,265 lakhs |
| Total Expenses | 86,241 lakhs | 80,249 lakhs | 77,752 lakhs |
| Profit before Tax (Continuing Ops) | 18,412 lakhs | 20,437 lakhs | 12,963 lakhs |
| Total Comprehensive Income | 13,021 lakhs | 21,060 lakhs | 15,287 lakhs |
The standalone unaudited financial results for the quarter ended June 30, 2026, are detailed below:
| Metric | Qtr Ended Jun 30, 2026 (Unaudited) | Qtr Ended Mar 31, 2026 (Audited) | Qtr Ended Jun 30, 2025 (Unaudited) |
|---|---|---|---|
| Revenue from Operations | 64,249 lakhs | 63,959 lakhs | 54,011 lakhs |
| Total Income | 64,883 lakhs | 66,471 lakhs | 55,505 lakhs |
| Total Expenses | 51,982 lakhs | 48,948 lakhs | 45,986 lakhs |
| Profit before Tax (Continuing Ops) | 12,901 lakhs | 17,523 lakhs | 9,519 lakhs |
Business Segments and Operations
The Group operates in two reportable segments: Wire & Wire Ropes, which involves the manufacturing and sale of steel wires, strands, wire ropes, cords, related accessories, and allied machines; and Others, covering Jelly Filled & Optical Fibre Telecommunication Cables.In terms of consolidated assets for the quarter ended June 30, 2026, Total Assets stood at 4,42,272 lakhs, with Segment Assets for Wire & Wire Ropes recorded at 3,77,193 lakhs.
Discontinued Operations and Legal Proceedings
The company's financial statements reflect the transfer of its Steel and Bright Bar Business (SBB Business) to Tata Steel Long Products Limited (TSLPL), which occurred during a prior year. As of June 30, 2026, an amount of Rs. 6,498 lakhs is receivable regarding this transition.The results include ongoing proceedings related to the sale of iron ore fines in prior years, concerning certain land parcels at Ranchi that are allegedly connected to a contravention of mining lease terms. The Directorate of Enforcement (ED) issued an order in 2019 for provisional attachment of these land parcels. Furthermore, the company faces charges from the Central Bureau of Investigation (CBI) related to this matter and another instance concerning alleged attempts to influence an ongoing CBI investigation. Management stated that based on a legal opinion, the company believes it has a strong case in its favor regarding these matters, and no adjustments have been made to the financial results as a result.
The company also noted the impact of the new labor codes, which resulted in an incremental impact related to gratuity and leave liability under "Exceptional Item" in the Statement of Profit and Loss for the quarter ended March 31, 2026.
USHAMART Stock Price Movement
Today, Usha Martin Limited shares gained 1.67% in post-market trading, settling at ₹502.10 after trading was concluded for the day. The stock saw strong activity during the session, with a total of 309,401 shares traded.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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