5171462025-07-012025-09-305171462025-09-305171462025-03-315171462025-04-012025-09-305171462025-07-012025-09-30in-capmkt:OtherExpenses1Member5171462025-04-012025-09-30in-capmkt:OtherExpenses1Member5171462025-07-012025-09-30in-capmkt:ReportableSegments1Member5171462025-07-012025-09-30in-capmkt:ReportableSegments2Member5171462025-04-012025-09-30in-capmkt:ReportableSegments1Member5171462025-04-012025-09-30in-capmkt:ReportableSegments2Member5171462025-07-012025-09-30in-capmkt:ReportableSegments1Member5171462025-07-012025-09-30in-capmkt:ReportableSegments2Member5171462025-04-012025-09-30in-capmkt:ReportableSegments1Member5171462025-04-012025-09-30in-capmkt:ReportableSegments2Member5171462025-07-012025-09-30in-capmkt:ReportableSegments1Member5171462025-09-30in-capmkt:ReportableSegments1Member5171462025-07-012025-09-30in-capmkt:ReportableSegments2Member5171462025-09-30in-capmkt:ReportableSegments2Member5171462025-07-012025-09-30in-capmkt:ReportableSegments1Member5171462025-09-30in-capmkt:ReportableSegments1Member5171462025-07-012025-09-30in-capmkt:ReportableSegments2Member5171462025-09-30in-capmkt:ReportableSegments2Member5171462025-07-012025-09-30ItemsThatWillNotBeReclassifiedToProfitAndLoss15171462025-04-012025-09-30ItemsThatWillNotBeReclassifiedToProfitAndLoss1iso4217:INRiso4217:INRxbrli:shares517146USHAMARTNOTLISTEDINE228A01035USHA MARTIN LIMITEDMain BoardEquity2025-04-012026-03-312025-11-082025-10-31INRLakhsQuarterlySecond quarterMulti segment2025-11-0813:45:002025-11-0814:20:00trueCash Flow IndirectNot applicable2025-07-012025-09-30UnauditedConsolidated907560000022660000093022000004205100000327000004030000001111000000509000002766000001593800000767310000016291000000162910000029970000010240000040210000001227000000-1780000000-17800000049000000109800000041240000015104000001097100000900000412400000030520000014.194.19-0.58-0.583.613.614.The above consolidated results of Usha Martin Limited (“the Company”) and its twenty subsidiaries (including twelve step-down subsidiaries) (together referred as 'the Group') and two joint ventures for the quarter and six months ended September 30, 2025 have been reviewed by the Audit Committee and approved by the Board of Directors at their respective meetings held at Ranchi on November 08, 2025. <BR> <BR> 5.The unaudited consolidated financial results have been prepared in accordance with the recognition and measurement principles provided in Indian Accounting Standard (Ind AS) 34 on 'Interim Financial Reporting', the provisions of the Companies Act, 2013, as applicable and guidelines issued by the Securities and Exchange Board of India (SEBI) under SEBI (Listing Obligations and Disclosure Requirements) Regulation 2015, as amended. <BR> <BR> 6.Discontinued Operations represents Steel and Bright Bar Business (SBB Business) of the Company which was transferred to Tata Steel Long Products Limited (TSLPL) [formerly known as Tata Sponge Iron Limited] as a going concern on slump sale basis during a prior year in accordance with the terms and conditions set out in Business Transfer Agreement. An amount of Rs. 7,446 lakhs (net of working capital adjustment of Rs. 627 lakhs) is receivable as at September 30, 2025, pending registration of certain parcels of land in the name of TSLPL for which perpetual lease and license agreements had been executed by the Company in favour of TSLPL. Further, during the quarter, the Company has recognised an expense of Rs. 1,780 lakhs towards additional expenditure incurred / to be incurred by the Company in connection with the transfer of aforesaid land parcels. The liability has been created based on management’s best estimates and in accordance with the applicable accounting standards. <BR> <BR> 7(a). The Directorate of Enforcement ("ED") had issued an order dated August 9, 2019 under the provisions of Prevention of Money Laundering Act, 2002 (PMLA) to provisionally attach certain parcels of land at Ranchi, State of Jharkhand being used by the Company for its business for a period of 180 days in connection with export and domestic sale of iron ore fines in prior years aggregating Rs. 19,037 lakhs allegedly in contravention of terms of the mining lease granted to the Company for the iron ore mines situated at Ghatkuri, Jharkhand. The Hon'ble High Court of Jharkhand at Ranchi had, vide order dated February 14, 2012, held that the Company has the right to sell the iron ore including fines as per the terms of the mining lease which was in place at that point in time. The Company had paid applicable royalty and had made necessary disclosures in its returns and reports submitted to mining authorities. In response to the provisional attachment order, the Company had submitted its reply before the Adjudicating Authority (AA). Subsequently, AA had issued an order by way of which the provisional attachment was confirmed under Section 8(3) of PMLA. Thereafter, the Company filed an appeal before the Appellate Tribunal, New Delhi and successfully obtained a status quo order from the Tribunal on the confirmed attachment order which continues till the next date of hearing that is now fixed on November 18, 2025. The ED had filed a complaint before the District and Sessions Judge Cum Special Judge, Ranchi (Trial Court, Ranchi), pursuant to which summoning orders dated May 20, 2021 were issued to the Company and one of its Officers. In response to the said complaint and summons received, the Company had filed a quashing petition before the Hon'ble Jharkhand High Court and a subsequent Special Leave Petition (‘SLP’) before the Hon’ble Supreme Court against the order of the Hon’ble Jharkhand High Court dismissing the Company’s quashing petition. Vide interim order dated December 15, 2021, the Hon’ble Supreme Court had granted protection to the Company from arrest and stayed the summoning orders issued by the Trial Court, Ranchi. The Hon’ble Supreme Court vide order dated September 28, 2022 had dismissed the SLP with the directions to the Company to present all its defences “which are required to be considered and dealt with at the time of trial” before the aforesaid Trial Court, Ranchi. Vide order dated November 21, 2024, Trial Court, Ranchi has taken cognizance of the charge sheet filed for the offence under the Prevention of Corruption Act, 1988 and the Indian Penal Code, 1860 against the Company, its Managing Director (MD) and one of the Other Officers, pursuant to which summoning orders dated November 26, 2024 were issued to the Company, its MD and one of the Other Officers. The matter at the Trial Court, Ranchi is scheduled to be heard on November 11, 2025. <BR> <BR> The ongoing operations of the Company have not been affected by the aforesaid proceedings. Supported by a legal opinion obtained, management believes that the Company has a strong case in its favour on merit and law. Accordingly, no adjustment to these standalone financial results in this regard have been considered necessary by the management. <BR> <BR> 7(b).On October 2, 2020, Central Bureau of Investigation (CBI) had filed a First Information Report (FIR) against the Company, its Managing Director (MD) and certain Other Officers under the Prevention of Corruption Act, 1988 and the Indian Penal Code, 1860 before the Special Judge, CBI, New Delhi (CBI Court, New Delhi) for allegedly trying to influence ongoing CBI investigation pertaining to the proceedings mentioned in note 7(a) above. Vide order dated September 15, 2022, the CBI Court, New Delhi had taken cognizance of the offence based on interim charge sheet filed by the CBI against the Company, its MD and certain Other Officers and has directed the CBI to take such steps as may be necessary to complete the investigation. The Company strongly refutes the aforesaid allegations made by the CBI. The Company has received intimation from the Directorate of Enforcement (ED) regarding summons issued on this matter by the Special Judge, (PC Act) CBI, New Delhi, under the provisions of PMLA and the matter is scheduled to be heard on January 03, 2026. <BR> <BR> The Company has been providing information sought by the CBI and ED in this regard and intends to continue cooperating, as required by applicable laws and relevant court orders. The Company and its MD is taking such legal measures as considered necessary in respect of these ongoing proceedings. Supported by a legal opinion obtained, management believes that the Company has a strong case in its favour on merit and law in these matters. Accordingly, no adjustment to these standalone financial results in this regard have been considered necessary by the management. <BR> <BR> 8.The Board of Directors of the Company at its meeting held on August 12, 2024, approved the 'Usha Martin Limited Employee Stock Option Plan – 2024' ("the Plan") to be implemented by fresh issuance of fully paid-up equity shares of the Company having a face value of Rs.1 and/or secondary acquisition of equity shares through the Usha Martin Limited Employees Welfare Trust (“ESOP Trust”). The Company has acquired a total of 1,90,500 shares through the ESOP Trust with the corresponding accounting being conducted in accordance with Ind AS 102 – Share-Based Payment. The financial results of the Trust have been included in the standalone financial results of the Company in accordance with the requirements of Ind AS and the cost of such treasury shares has been presented as a deduction in Equity. Additionally, the impact of this Plan has been factored into the calculation of diluted earnings per equity share, in compliance with Ind AS 33 –Earnings Per Share. <BR> <BR> 9.Other income for the quarter and six months ended 30th September 2025 includes a gain of Rs. 1,540 lakhs arising from the sale of land and building at Chennai which was classified as ‘Asset Held for Sale’ in a prior year. The said transaction was duly approved by the Board of Directors vide resolution dated August 20, 2025. <BR> <BR> Rajeev Jhawar <BR> Managing Director <BR> Place: Ranchi <BR> <BR> Dated: November 08, 20252025-04-012025-09-30UnauditedConsolidated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ire & Wire Ropes8898400000Others177200000Wire & Wire Ropes17605900000Others341600000907560000017947500000907560000017947500000Wire & Wire Ropes1619200000Others-5300000Wire & Wire Ropes2976800000Others-203000001613900000295650000050900000113400000-66100000-3730000016291000002880400000Wire & Wire Ropes33881600000Others65160000034533200000400250000038535700000Wire & Wire Ropes4930700000Others196700000512740000037602000008887600000Note: <BR> <BR> The Group has been organised into business units based on its products and services and has two reportable segments which are as follows: <BR> <BR> (a) Wire & Wire Ropes segment which manufactures and sells steel wires, strands, wires, strands, wire ropes, cords, related accessories, wire drawing and allied machine, etc. <BR> (b) Others segment which manufactures and sells Jelly Filled & Optical Fibre Telecommunication Cables.113400000766600000-734700000038900000-30800000490000010540000002670000001800000-190000056350000006700000-33200000263700000-210000036250000004920000078000001900000015900000-178000000-22950000001020300000390070000000057500000003325700000000000000103470000000313700000000000000000007200000046500000046700000-555800000000000001050000015788000006650000091370000011490000000-26634000001065000006690000017340000026072000002780600000Items that will not be reclassified to profit or loss1140000011400000Items that will not be reclassified to profit or loss-11100000-111000003200000-2200000-404200000-941900000412400000933000000