On year on year basis, the company in Q2 FY25 recorded marginally decline in net profit as compared to Rs 109.3 crore in Q2 FY24. Revenue rose 13.6% YoY in Q2 FY25 from Rs 784.7 crore posted in Q2 FY24.

Profit before tax was at Rs 141.4 crore in the second quarter of FY25, down 2.1% as against Rs 144.5 crore posted in Q2 FY24.

EBITDA grew by 11.4% to Rs 160.8 crore in Q2 FY25 from Rs 144.3 crore in Q2 FY24. EBITDA margin for Q2 FY25 was 18% as against 18.4% in Q2 FY24.

The company posted strong growth in the core wire rope segment (up by 19.2% YoY) and the wire & strand segment (up by 16.2% YoY) contributed positively to the revenue while revenue from LRPC segment declined (down by 6.7% YoY).

On half year basis, the company’s net profit rose 1.14% to Rs 213.2 crore on 7.4% jumped in revenue from operations to Rs 1,717.5 crore in H1 FY25 over H1 FY24.

Rajeev Jhawar, MD said, “I am pleased to share that we have delivered a resilient financial performance and strong operational execution in Q2 FY25. Usha Martin registered a 11.0% YoY growth in volumes and a 13.6% growth in topline, driven by a sharp recovery in domestic markets. Our focus on volume and value growth continues, and we remain confident in sustaining this momentum through the rest of the year, supported by a seasonally stronger second half. Additionally, we aim to maintain healthy EBITDA margins and bottom-line performance as we register growth in volumes and revenue.

During the period, our core wire ropes division performed strongly, despite a traditionally softer quarter due to monsoon. The division recorded an impressive 18.5% growth in volumes and a 19.2% increase in revenue. With the expanded capacities, our teams across domestic and international markets are well-positioned to drive sales of high-quality wire ropes for critical applications. This should enable us to capture greater market share globally while consistently meeting clients' rigorous standards and remaining focused on delivering dependable solutions across essential sectors.

As we move forward, our future capex initiatives are set to position us strongly to meet the needs of an evolving market and sustain our growth. The Company remains committed to advancing its strategic priorities, including enhancing value-added offerings, diversifying the product portfolio, modernizing plant operations and expanding global distribution and marketing efforts. With a robust portfolio and the inherent strengths of Usha Martin, we are confident in our ability to drive long-term growth and capitalize on emerging opportunities in the coming years.”

Usha Martin is a specialty steel wire rope solutions provider. The company is also engaged in the manufacturing of high-quality wires, low relaxation prestressed concrete steel strand (LRPC), bespoke end-fitments, accessories and related services.