Added to YB: 2026-03-18
Pitch date: 2026-03-15
JAINREC.NS [neutral]
Jain Resource Recycling Limited
+1.3%
current return
Author Info
No bio for this author
Company Info
Jain Resource Recycling Limited engages in the manufacture and export of non-ferrous metal products by way of recycling of non-ferrous metal scrap.
Market Cap
INR 147.9B
Pitch Price
INR 421.60
Price Target
N/A
Dividend
N/A
EV/EBITDA
26.96
P/E
41.09
EV/Sales
1.65
Sector
Metals and Mining
Category
growth
The $1 Billion Recycler: How Jain Resource Recycling Is Turning Scrap Into a Global Metals Empire
JAINREC.NS (overview): India's fastest-growing non-ferrous recycler (lead/copper/aluminum/tin) w/ $1B+ enterprise scaling 40-50% CAGR last decade. 9M FY26: rev ₹7,206cr (+38% YoY), PAT ₹301cr (+65% YoY), margins expanding to 7% EBITDA/4.4% PAT. 70% export-driven, sources scrap from 120+ countries. Forward integrating into value-added copper products (anodes/cathodes/wire rods) targeting ₹70-75k EBITDA/ton vs current ₹47k. Ahmedabad JV (72k MT capacity, June '26 start), Kuwait 25% stake, antimony extraction plant launching FY27. Risks: commodity volatility, 82-day working capital cycle, thin 4.4% PAT margins, execution on simultaneous expansions. Structural copper supply shortage + circular economy tailwinds support thesis. Management confident sustaining growth trajectory through volume + margin expansion.
Read full article (7 min)