What was filed
Usha Martin's board met on 27 July 2026 and approved the unaudited standalone and consolidated results for the first quarter of FY27, the three months ended 30 June 2026. The statutory auditor, S.R. Batliboi & Co. LLP, issued a limited-review report on both sets of results with an unmodified conclusion.
The company operates predominantly in a single line of business — wire, wire ropes, strands and cords, reported as its "Wire & Wire Ropes" segment — with a smaller "Others" segment covering telecommunication cables.
The quarter in numbers
On a consolidated basis, both revenue and after-tax profit rose against the same quarter a year earlier, with the Wire & Wire Ropes segment accounting for the bulk of turnover; the standalone entity showed a similar year-on-year improvement. The figures for both periods are set out in the panel below.
One comparison point matters for reading them: there were no exceptional items in the current quarter, whereas the prior-year comparatives carried an exceptional charge relating to the New Labour Codes.
The ED and CBI matters the auditor flagged
Both review reports carry an Emphasis of Matter paragraph pointing to the attachment of certain land parcels at Ranchi connected with the sale of iron ore fines in prior years, said to aggregate the amount shown in the panel and allegedly made in contravention of the mining-lease terms. Proceedings by the Enforcement Directorate and the Central Bureau of Investigation are ongoing under the PMLA, the Prevention of Corruption Act and the Indian Penal Code against the company and certain personnel.
The filing states that ongoing operations have not been affected, that management — supported by a legal opinion — believes the company has a strong case, and that no adjustment to the results has been considered necessary. Several of these matters are listed for hearings in August 2026, per the notes — which is why the auditor's flag, rather than any change to the numbers, is the point holders track here.