Usha Martin vs Godawari Power vs Ratnamani Metals: Which Stock Should You Track

Usha Martin vs Godawari Power and Ispat vs Ratnamani Metals and Tubes starts with the core numbers most investors compare within the Steel and Alloy Products segment: market capitalisation, valuation multiples, profitability and dividend yield. Figures below are sourced as of October 2026 and will shift with daily price moves.

All three names sit in the Steel and Alloy Products bucket, which makes them a natural set to place side by side rather than a random trio of unrelated businesses.

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Usha Martin, Godawari Power and Ispat and Ratnamani Metals and Tubes: Company Overview

Usha Martin is a listed Indian company in the Steel and Alloy Products space, tracked here on book value, return ratios and valuation alongside its peers in this comparison.

Godawari Power and Ispat is a listed Indian company in the Steel and Alloy Products space, tracked here on book value, return ratios and valuation alongside its peers in this comparison.

Ratnamani Metals and Tubes is a listed Indian company in the Steel and Alloy Products space, tracked here on book value, return ratios and valuation alongside its peers in this comparison.

Usha Martin vs Godawari Power and Ispat vs Ratnamani Metals and Tubes: Valuation and Profitability Snapshot

Metric	Usha Martin	Godawari Power and Ispat	Ratnamani Metals and Tubes
Market Cap (approx.)	Rs 15,822 crore	Rs 15,868 crore	Rs 19,505 crore
PE Ratio (TTM)	31.18	19.64	37.92
PB Ratio	4.79	2.77	4.75
Return on Equity (ROE)	14.11%	13.79%	11.74%
EPS (TTM, Rs)	16.65	12.00	73.38
Dividend Yield	0.72%	0.41%	0.36%
Debt to Equity	0.07	0.08	0.08
Book Value per Share (Rs)	108.35	85.12	586.46

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On valuation, Usha Martin trades at a PE of 31.18 and a PB of 4.79, Godawari Power and Ispat at a PE of 19.64 and a PB of 2.77, while Ratnamani Metals and Tubes trades at a PE of 37.92 and a PB of 4.75. On return on equity, the three post 14.11%, 13.79% and 11.74% respectively, and on dividend yield they stand at 0.72%, 0.41% and 0.36%.

Usha Martin vs Godawari Power and Ispat vs Ratnamani Metals and Tubes: Latest Quarterly Results

Company	Latest Quarter Revenue	Latest Quarter Net Profit	YoY Change (Revenue)	QoQ Change (Revenue)
Usha Martin	Rs 1,041.56 crore	Rs 142.04 crore	+15.4%	+3.5%
Godawari Power and Ispat	Rs 1,783.75 crore	Rs 222.37 crore	+32.6%	+9.1%
Ratnamani Metals and Tubes	Rs 989.22 crore	Rs 107.03 crore	-16.3%	-11.6%

Quarterly figures above are the most recent reported quarter for each company (Q1 FY27, quarter ended June 2026), compared with the year-ago and preceding quarter.

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What Should Investors Look at Beyond These Numbers?

Beyond the metrics above, investors comparing these three steel and alloy products names should track quarter-on-quarter revenue and margin trends, management commentary on demand and cost drivers, and any sector-specific regulatory developments, since a single-quarter snapshot can shift quickly.

Conclusion

Usha Martin vs Godawari Power and Ispat vs Ratnamani Metals and Tubes highlights how differently three companies in the same steel and alloy products segment can score across valuation, profitability and dividend metrics, even when operating in a similar space. This comparison does not declare a winner; investors should weigh these figures against their own research and risk appetite. Please read the disclaimer below before making any investment decision.

FAQs on Usha Martin vs Godawari Power and Ispat vs Ratnamani Metals and Tubes

What is the market cap difference between Usha Martin, Godawari Power and Ispat and Ratnamani Metals and Tubes?

Ans. As of October 2026, Usha Martin has a market cap of approximately Rs 15,822 crore, Godawari Power and Ispat is at approximately Rs 15,868 crore, and Ratnamani Metals and Tubes is at approximately Rs 19,505 crore.

Which of the three has the highest PE ratio?

Ans. Among Usha Martin, Godawari Power and Ispat and Ratnamani Metals and Tubes, the PE ratios stand at 31.18, 19.64 and 37.92 respectively as of October 2026.

Which of the three has the highest ROE?

Ans. Usha Martin, Godawari Power and Ispat and Ratnamani Metals and Tubes post ROE of 14.11%, 13.79% and 11.74% respectively as of October 2026.

Which of these three stocks pays the highest dividend yield?

Ans. Usha Martin, Godawari Power and Ispat and Ratnamani Metals and Tubes carry dividend yields of 0.72%, 0.41% and 0.36% respectively.

What is the debt to equity ratio for Usha Martin, Godawari Power and Ispat and Ratnamani Metals and Tubes?

Ans. Usha Martin carries a debt to equity of 0.07, Godawari Power and Ispat of 0.08, and Ratnamani Metals and Tubes of 0.08.

Which of the three trades at the highest price to book value?

Ans. Usha Martin, Godawari Power and Ispat and Ratnamani Metals and Tubes trade at price to book ratios of 4.79, 2.77 and 4.75 respectively.

Is one of Usha Martin, Godawari Power and Ispat or Ratnamani Metals and Tubes better than the others?

Ans. This comparison does not declare one stock better than another; each company scores differently across valuation, profitability and dividend metrics, and the right fit depends on an individual investor's own criteria and research.