Usha Martin (517146) investor relations material

Executive summary

• Consolidated revenue rose 16.4% year-over-year to INR 1,033 crore, surpassing Rs 1,000 crore for the first time, with operating EBITDA up 44% to INR 208 crore and EBITDA margin at 20.1%.

• Profit after tax increased 41% year-over-year to INR 142 crore, with PAT margin at 13.8%.

• Operating cash flow reached INR 242 crore, net cash position at INR 465 crore at quarter-end, and capex of INR 73 crore funded through internal accruals.

• Long-term credit rating upgraded to IND AA- / Stable, reflecting improved financial strength.

• Consolidated EPS for continuing operations was Rs. 4.66 (basic and diluted) for Q1 FY27.

Financial highlights

• Revenue from operations grew to INR 1,033 crore from INR 884 crore, a 16.4% increase year-over-year, with sequential growth of 5.5%.

• Operating EBITDA rose to INR 208 crore from INR 145 crore, up 44% year-over-year, and EBITDA margin improved to 20.1%.

• PAT increased to INR 142 crore from INR 101 crore, a 41% rise year-over-year; basic EPS rose 40.8% to Rs 4.66.

• Free cash flow after CapEx of INR 73 crore stood at INR 135 crore.

• Operating cash flow reached INR 242 crore, with net cash position improving to INR 465 crore.

Outlook and guidance

• Targeting 10%-12% volume growth and 15% value growth for FY 2027, with a focus on value-led volume growth and expansion in specialized wire ropes and new verticals.

• CapEx guidance for FY 2027 is INR 250-300 crore, mainly for expanding specialized wire rope capacity and manufacturing efficiency.

• EBITDA margin expected to be maintained at a minimum of 20%, with potential for further improvement.

• Confident of achieving full utilization of new plasticated LRPC capacity by next year as approvals mature.

• Management continues to monitor regulatory and labor code changes, expecting no operational impact.