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    Usha Martin

    Global specialty wire rope manufacturer serving oil & gas, mining, cranes, elevators and infrastructure in 75+ countries.

    Capital Goods
    Industrials
    View USHAMART earnings calls
    ₹476.05
    +1.74% from avg

    Overview

    Price

    ₹476.05

    Market Cap

    ₹15.3k Cr

    Sector

    Capital Goods

    Industrials

    Rank

    3

    Performance

    Financials

    Income Statement

    Financial Trajectories

    11
    Quarterly

    Balance Sheet

    Balance Sheet

    ₹ Cr · Annual
    Line itemFY20FY21FY22FY23FY24FY25FY26FY26
    LiabilitiesEquity Capital3131313131313131
    Reserves1.2k1.4k1.7k2.0k2.3k2.7k2.9k3.3k
    Borrowings620530411417364417264229
    Other Liabilities696649625627570563624681
    Total Liabilities2.5k2.6k2.7k3.1k3.3k3.7k3.9k4.2k
    AssetsFixed Assets9569329139521.2k1.4k1.5k1.6k
    CWIP33453813916611817789
    Investments4448566656687079
    Other Assets1.5k1.6k1.7k1.9k1.9k2.1k2.1k2.4k
    Total Assets2.5k2.6k2.7k3.1k3.3k3.7k3.9k4.2k

    Valuation

    Assumptions

    Current — USHAMART
    Price
    ₹476
    EPS (TTM)
    ₹16.64
    PE (TTM)
    28.6
    Profit growth
    10.1%

    The Earnings Per Share over the last 12 months.

    %

    Your assumption of the company's expected yearly EPS growth (e.g., 6 for 6%).

    Pre-filled with the lower of median (25.9×) and current (28.6×) PE — the conservative anchor.

    %

    The annualized return you aim to achieve. We solve for the price that delivers it, then compare to today's price.

    Valuation

    Current price
    ₹476
    vs
    Fair value · 15% return
    ₹301
    37%Overvalued

    At 10.1% growth and a 26× exit, ₹476 only delivers your return if you pay ₹301. The price is currently baking in 20% growth.

    EPS grows 10.1%/yr for 5 years, then fades to 6% over 2, exits at 26×.

    YearGrowthEPS (₹)
    FY2710.1%18.32
    FY2810.1%20.17
    FY2910.1%22.21
    FY3010.1%24.45
    FY3110.1%26.92
    FY328.0% ·fade29.09
    FY336.0% ·fade30.83

    Methodology: we discount normalized net profit as a proxy for owner earnings (an earnings-power approximation — not full free cash flow). Terminal growth is capped at 6% (≈ nominal GDP) regardless of the required return. This is an analytical tool, not investment advice.

    Learn to analyse Usha Martin

    Guides on how to read this kind of business and the numbers that matter.