Usha Martin has scheduled its 40th Annual General Meeting (AGM) for August 20, 2026, marking a key governance milestone for the steel and wire products manufacturer. The meeting will be held exclusively through Video Conferencing/Other Audio Visual Means (VC/OAVM) at 11:30 A.M. (IST). The Board of Directors recommended a final dividend of ₹3.75 per equity share for the financial year ended March 31, 2026, signaling confidence in the company’s cash generation capabilities. This payout represents a 375% dividend on the face value of Re. 1 per share, subject to approval by shareholders at the upcoming meeting.

The notice for the 40th AGM was dispatched electronically on July 27, 2026, to members registered as of July 17, 2026. Shareholders holding shares on the record date of August 13, 2026, will be eligible to vote and receive the dividend. The company engaged National Securities Depository Limited (NSDL) to facilitate remote e-voting, which will run from 9:00 A.M. (IST) on Monday, August 17, 2026, to 5:00 P.M. (IST) on Wednesday, August 19, 2026. Members who do not cast their votes during the remote e-voting period can vote electronically during the AGM via the VC/OAVM facility.

The Board’s recommendation of the final dividend follows its meeting held on April 30, 2026. If approved by shareholders, the dividend will be paid on or after August 24, 2026. Usha Martin Limited has committed to ensuring the payment of the dividend within 30 days from the date of declaration at the AGM. The record date for determining dividend entitlement is fixed at August 13, 2026.

Key Dates and Details

Shareholder Actions Required

Shareholders are advised to ensure their contact details are updated with the Registrar & Transfer Agents (RTA) or Depository Participants to receive future communications. For those holding physical securities, SEBI has opened a special window for transfer and dematerialisation of shares sold or purchased prior to April 1, 2019. This window is active from February 5, 2026, to February 4, 2027. Eligible shareholders must submit transfer requests with KFin Technologies Limited, the company’s RTA, within this period to regularize their holdings.

Queries regarding the AGM or e-voting process can be directed to the Company Secretary at investor@ushamartin.co.in . Technical support for e-voting is available through NSDL. The Annual Report 2025-26, including the AGM notice, is accessible on the company’s website and the stock exchange portals of BSE Limited and National Stock Exchange of India Limited.

Usha Martin Limited submitted its Business Responsibility and Sustainability Report (BRSR) for the financial year 2025-26 to the National Stock Exchange of India Ltd., BSE Limited, and Societe de la Bourse de Luxembourg on July 27, 2026. The filing details the company’s performance across environmental, social, and governance parameters, highlighting key sustainability milestones such as the partial commissioning of renewable energy infrastructure and the implementation of Zero Liquid Discharge systems. SGS India Private Limited conducted an independent assurance engagement, providing reasonable assurance for core BRSR indicators and limited assurance for other indicators in accordance with International Standard on Assurance Engagements (ISAE) 3000 (Revised) and ISAE 3410.

The report outlines the company’s operational footprint, which includes three plants and six offices nationally, alongside four plants and 16 offices internationally. As of March 31, 2026, the workforce comprised 664 employees and 4,394 workers. The Board of Directors approved the policies covering all nine principles of the National Guidelines on Responsible Business Conduct (NGRBC). Oversight is managed by the Sustainability Council, chaired by Whole Time Director S B N Sharma, which reviews performance quarterly alongside the Risk Management Committee.

Environmental Initiatives and Energy Transition

Usha Martin Limited reported significant progress in decarbonization efforts during FY 2025-26. A major milestone was the completion of Phase I of a 4 MWp rooftop solar PV installation at the Ranchi facility, with 2.2 MWp installed. Phase I is scheduled to begin operations in April 2026, while Phase II, covering the remaining 1.8 MWp, is expected to be commissioned within FY 2026-27. This initiative aims to reduce reliance on the coal-based Captive Power Plant and increase the share of renewable energy in the plant’s energy mix.

Additionally, the company transitioned its canteen fuel system from liquefied petroleum gas (LPG) cylinders to piped natural gas (PNG) at the Ranchi facility. Operating at an average consumption of approximately 220 SCM per day, this switch is estimated to reduce associated greenhouse gas emissions by 13–15%. An extensive energy-saving programme at the wire and wire rope plant targeted a 10% reduction in total power consumption through measures such as restructuring the power distribution network and replacing sodium vapour lamps with LED systems, resulting in savings of approximately 2 lakh units of electricity annually.

The company is committed to reducing water withdrawal by 50% by FY 2029-30, using FY 2024-25 as the baseline. A Zero Liquid Discharge (ZLD) system is operational at a section of the Ranchi facility, enabling the reuse of treated wastewater. Life Cycle Assessments (LCA) were completed for wire rope, wire & strands, and LRPC strand products, with Environmental Product Declaration (EPD) certification obtained for Powerform 8P, Minesform 8PVF, and Oceanmax 35.

Social Performance and Governance

On the social front, Usha Martin Limited emphasized workplace safety and inclusivity. The Occupational Health and Safety Management System, aligned with ISO 45001, was implemented across all manufacturing sites. Safety training covered 100% of the workforce, and Behaviour-Based Safety training was conducted for over 3,000 employees. The company reported no high-consequence work-related fatalities, and workers who sustained injuries were redeployed in suitable roles.

Diversity metrics showed that women constituted 4.07% of employees and 0.96% of workers. At the Board level, one out of seven directors was female, representing 14.29%. The company does not have any differently abled employees or workers as of March 31, 2026. Human rights training was conducted on a refresher basis, as FY 2025-26 was designated a non-training year following primary training in FY 2024-25.

Corporate Social Responsibility and Financials

Although not statutorily required to incur CSR spending due to the absence of net profits calculated under Section 198 of the Companies Act, 2013, over the last three financial years, the company voluntarily carried out CSR activities through the Usha Martin Foundation. Voluntary spending in the aspirational district of Ranchi, Jharkhand, amounted to ₹2,88,82,332. Beneficiaries included individuals from health and sanitation, education, livelihood, and skill development projects.

The report also disclosed monetary penalties paid during the year: ₹1,34,935 for GST detention issues in Tamil Nadu, ₹20,000 for ineligible input tax credit claims, and ₹50,000 for non-compliance with GST circulars. No appeals were preferred against these penalties. The company’s turnover for the period was reported at ₹23,120.30 million, with a net worth of ₹17,888.98 million.