Are Usha Martin latest results good or bad?

Usha Martin has reported its financial results for the quarter ending March 2025, revealing a mixed operational performance. The company's net sales reached Rs 896.08 crore, which is the highest figure recorded in the last five quarters, indicating a positive trend in sales. This represents a quarter-on-quarter growth of 4.13% compared to the previous quarter.
However, the profit before tax (PBT) has shown a decline, standing at Rs 109.47 crore, which is lower than the average PBT of Rs 126.21 crore from the previous four quarters and marks the lowest PBT in the last five quarters. This suggests a concerning trend in profitability. Additionally, the operating profit (PBDIT) also fell to Rs 139.57 crore, the lowest in the same timeframe, resulting in an operating profit margin of 15.58%, which is again the lowest recorded in the last five quarters.

While there was an increase in non-operating income to Rs 23.65 crore, its sustainability is uncertain, adding to the mixed outlook. Overall, Usha Martin's financial results reflect a combination of positive sales growth alongside challenges in profitability metrics. Furthermore, the company saw an adjustment in its evaluation, reflecting the complexities of its current financial landscape.