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The BSE, founded in 1875, is Asia's oldest stock exchange — it started under a banyan tree on Dalal Street, where the bronze bull stands today.
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The BSE, founded in 1875, is Asia's oldest stock exchange — it started under a banyan tree on Dalal Street, where the bronze bull stands today.
The BSE, founded in 1875, is Asia's oldest stock exchange — it started under a banyan tree on Dalal Street, where the bronze bull stands today.
Usha Martin Limited is an India-based specialty steel wire rope solutions provider. The Company is also engaged in the manufacturing of wires, low relaxation prestressed concrete steel strand (LRPC), wires, prestressing solutions, cables, and bespoke end-fitments and…
Weekly engine runs — movement reflects the numbers, not analyst opinion.
A decent, steadily growing business, fully valued.
Usha Martin is scored on the commodity / cyclical framework. It keeps a healthy 12.4% of every rupee of sales as net profit. Those profits are backed by real cash — operating cash flow runs 1.41× reported profit. Free cash flow is worth about 2.0% of its market value.
Over the last 3 years revenue compounded at 5%/yr and profit at 10%/yr. Book value itself has compounded 18%/yr — the hallmark of a genuine compounder. Return on equity is a healthy 14.1%. In the latest quarter profit fell 4% versus the prior quarter.
At 31× earnings, the stock sits at the 79th percentile of its own 3.6-year range — the expensive end of where it has historically traded. Today's price implies ~14%/yr earnings growth for a decade. The books come through clean — a forensic grade of A, and Altman puts distress risk in the safe zone.
A plain-English restatement of the figures on this page — rules-based, for education and research context, not investment advice or a recommendation.
| Ratio | Company | Sector | Read |
|---|---|---|---|
| P/E | 28.68 | 20.39 | worse |
| P/B | 4.41 | 2.07 | worse |
| EV/EBITDA | 18.09 | 10.9 | worse |
| ROE | 14.11 | 18.07 | worse |
| ROCE | 17.96 | 9.84 | better |
| ROA | 12.05 | 3.5 | better |
| Quick Ratio | 1.9 | 3.33 | worse |
| Peer | P/E | P/B | ROE |
|---|---|---|---|
| JSW Steel | 10.5 | 2.9 | 11.9% |
| Tata Steel | 20.6 | 2.3 | 10.6% |
| Jindal Steel & Power | 41.5 | 2.3 | 6.2% |
4% CAGR — growing but slowly.
Profit is growing faster than revenue (10% vs 4%) — margin expansion is at work.
Operating margin has expanded from 14% to 17% — the business is keeping more of each rupee earned.
ROE at 15% — a respectable return on shareholder capital. Low variance across years — a predictable business that earns steadily on its equity base.
10% EPS CAGR — this is the rate at which each share's claim on earnings is compounding.
Operating cash flow has been positive every year — the business generates real cash, not just accounting profit. Cash conversion at 1.4× PAT — earnings are well-backed by cash; strong accrual quality. Heavy investing spend every year, but operations generate enough to cover it — the business self-funds its growth.
When operating cash keeps pace with reported profit, earnings are cash-backed; a persistent shortfall is a quality flag.
Revenue broadly flat QoQ — stable but not accelerating. Run-rate stepping up — recent quarters average 11% above earlier ones.
How today's P/E compares to the stock's own historical range. Dashed line = the 3.6y median.
Promoters at 40.1% — dispersed ownership; institutional flows drive the stock. FIIs have accumulated for 3 straight quarters — sustained foreign institutional conviction. MF holding up 2.0pp — domestic institutional discovery underway.
Produced by a rules-based engine over licensed exchange fundamentals — every sentence above is derived from the numbers shown, no analyst or AI opinion involved. Education and research context, not investment advice. We are not SEBI-registered as an Investment Adviser or Research Analyst.